This is the time of year when our thoughts turn to shopping. As the festive season approaches, we plan our expenditure on Christmas presents, and food and drink to fuel our celebrations.
But did you know it can be a good time to shop for a new car? Here are 3 good reasons why.
- It’s a buyer’s market in December
Most people aren’t thinking about buying new cars. Because there are so many other things to be spending our money on, the showrooms are a bit quiet, meaning you’re more likely to be successful in striking a good deal.
- The bargains are out there waiting for you
2014’s fantastic new model isn’t going to sound half as impressive once the dateline is 2015. Even though it may be only 4 to 6 months old, it’s going to sound like last year’s model. The more units the dealer can shift before December 31st, the better. Models left on the showroom floor will devalue where they stand.
- You can keep one step ahead of inflation
Rises in interest rates caused by inflation are likely to arrive in 2015. The conditions that have favoured the Australian new car market are looking set to change. The longer you leave it, the more likely it is that your monthly installments and interest payments will rise.
That said, it’s important that you still look at how the numbers figure when it comes to your personal budget. Don’t rush into making a purchase just because it’s December, but take some time to calculate what this will cost you over the longer term. Be sure to allow for these additional costs:
- Monthly instalments for your car loan,
- Interest charged on your car finance deal,
- Stamp duty on your purchase,
- Vehicle registration with Roads and Maritime Services,
- Compulsory Third Party (CTP) insurance,
- Your personal insurance – ie, Comprehensive, Third Party Property, or Third Party, Fire and Theft, and
- Services required to maintain the manufacturer’s warranty.
Preparing a budget before you shop around will protect you from any hidden costs, leaving you free to enjoy driving your superbly priced new car into the New Year.
Are you looking for finance to help you purchase a new vehicle?
1800Approved is one of Australia's fastest growing car and asset finance brokers. We specialise in car finance, equipment finance, plus insurance and warranty services, and have previously arranged deals from AU$10k to AU$5m.
1800Approved services clients accross Australia, working with over 30 independent lenders to find the best deal.
We can also help with sourcing your new and used car warranty, and by sourcing vehicles and equipment through our Drive Wholesale arm.
To learn more about how we can help you, call us today at 1800 277 768