IS EOFY THE BEST TIME TO BUY?
May 13, 2020
EOFY 2020 is going to be, quite possibly, the greatest time to pick up a car bargain since Henry Ford was a boy.
Traditionally, June is about 30 per cent stronger than any other month of the year, and the May-June period is the biggest-selling 60 days in any 12-month period. While discounting goes on throughout the year, much of it is offered to fleet buyers for example, while in June, private buyers tend to flood the market and be offered the bargains.
“Since the onset of the pandemic, personal transport has increased in importance as it provides a secure, socially distanced manner of commuting to important engagements, such as health care appointments, shopping for essential items, or travelling to work (where necessary),” an FCAI statement tells us.
“To ensure commuters’ vehicles are in prime operating order, dealerships from all brands around Australia have opted to remain open to provide sales support and essential maintenance services.
“This allows customers to safely replace their current vehicle or motorcycle should the need arise. To facilitate the purchasing process, the Chamber understands that short evaluation or test drives are permissible for prospective customers wishing to purchase a vehicle for their essential commuting requirements.”
Car sales are way down, and will have been for months by the time EOFY arrives. This year, more than ever, those manufacturers and their sales people are going to be absolutely desperate to get an EOFY bump, so you can expect bargains on an unprecedented scale, which makes it a very good time to go shopping indeed.
What’s in it for you?
Lower prices, and the ability to negotiate hard, even when it comes to the money you’ll get for your trade-in, for example, are just a part of the EOFY offering.
You can also expect to have other carrots dangled in front of you, particularly if you’re willing to ask for them, like free on-road costs/drive-away pricing, upgrades to better-specified models, and even special deals on interest rates, if you’re looking for finance on that new-car deal.
In any normal year, car companies and dealers might be looking to steer you away from the big-selling models, because those ranges just don’t need the boost as much, but this year, you’ve really got your pick of the litter, because nothing is selling that well in such a barren market.
Also, be prepared to take a car from the stock on the floor, even if it’s not the exact spec or colour you think you want because doing so will get you an even better price. It’s the stock the dealers have on the floor that they’ll be most willing to negotiate on.
So do your research, get your finance in order before you go in – it makes things less complex and quicker – and be prepared to go hard for the best deal possible, and you could be driving your dream car by early July, with a bigger smile on your face than usual.
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For more information contact our team on 03 8796 6222 or visit our Dealership at 3 Prestige Place, Narre Warren 3805 (2 minutes from Fountain Gate, Bunjil Place and Monash Fwy). For our Used Car Yard, contact 03 5922 4004 or visit Yard #1 Car Megamart, Cnr Commercial Drive & South East Boulevard, Pakenham 3810.