Ask Andrew - Why June's the best time to drive away in your dream car!

May 23, 2017
Catriona Gillespie

Getting the best deal on a new car is always a matter of timing and June is a great month to get a red-hot bargain. Not only are dealers aggressively discounting their stock to boost sales before the end of the financial year, some clever bargaining could also see you score some valuable add-ons.

Before you jump in though, there are traps to be wary of and it pays to have your finance in place before you buckle up. For more information and help through the process just ‘Ask Andrew’ by completing the contact form at the top right of this page or call on 9401 9244 or 0412 498 872 .

Sweetners and tax savings

Car dealers are serving up plenty of value to get you locked in before June 30 so why not take advantage of the added extras and get yourself a better deal. Ask the dealers what they can do for you, remember they want the sale now.

The June car sales this year are especially appealing for self-employed workers or business owners. The tax office is still offering an accelerated write-down on asset purchases up to $20,000. It’s a smart tax saving for businesses, and was extended in the May Federal Budget to apply until 30 June 2018.

Lease or buy?

If you’re in the market for a new car, one of the key decisions is whether to buy or lease the vehicle. There are important differences between leasing and buying a car, and it’s worth having a good idea of how each option works to make the right choice for you.

If you choose to own your vehicle, a car or personal loan remains a popular form of vehicle finance. Leasing means you pay for the use of the vehicle over a set term and in some cases give you the option to buy the car once the lease expires. 

Be wary of car yard finance

It’s easy to get caught up in the excitement when you’ve taken that test drive, so have your finance ready before you buckle up.

Car yards will be ramping up their dealer finance offers and many may seem too good to be true. They probably are. Scratch the surface and you could find 0% p.a. finance comes with a big lump sum payment due at the end of the term, or they’ll be less flexible on price.

Get your finance pre-approved

A sensible strategy to make sure you are in the driving seat when you buy is to have your finance sorted before you step into the showroom. Even when you’re negotiating a lower-than-advertised price, having pre-approved car finance will give you a firm spending limit so there’s no risk of committing to a car you can’t comfortably afford.

Ask Andrew today for a pre-approval

At Mortgage Choice, we have access to a wide range of lenders who provide car loans and can confidently help you find a competitive deal that’s right for you.

Just ‘Ask Andrew’ by completing the contact form at the top right of this page or call on 9401 9244 or 0412 498 872. I will liaise with the lender and your dealership to arrange for the funds to be drawn and payment to be made. You’re then ready to drive away in your new car!  

 

 

Posted in: Car loans & leasing

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