Why is June the Best Time to Buy a Car?

If you ask a dealer, they’ll probably say that every month is a good month to buy a new car...

But if you were to ask the same question to a finance broker, there’s a good chance they’ll tell you that the best time to purchase a new car is June

That’s because in the lead of to the end of financial year, you can often negotiate a great price for your new vehicle as dealerships scramble to meet sales targets and make space for new models.

That said - nothing can take the shine off a good deal quicker than choosing a bad option for your car finance. All of the savings that you’ve made in the discounted price of your car can be chewed up faster than a cheerleader’s packet of gum if you don’t lock in a great finance deal to go with it!! 

Dealerships will strongly encourage you to finance your car through their loan experts, and I completely support you doing just that - AS LONG AS you’ve had a look around and can confirm that they are indeed offering you the best finance deal. Often they will be aligned with one particular bank or lender and not present you with a panel of lenders in order to source you the best deal. 

         

Be wary also of the '0% per annum interest rate' that may be offered around this time of year. As they say in the movies, there's no such thing as a free lunch and this is certainly the case here. It pays to understand the fine print - deals that sound too good to be true very often are. The video above does a great job in quickly explaining the potential pitfalls that you may encounter if you are attracted to a '0% per annum interest rate'. 

If you’d like a second opinion on your vehicle finance, you can contact me on 0413 938 848, or send me an email at jason.coviello@mortgagechoice.com.au - it could saving you thousands of dollars over the next couple of years alone. Or, if you'd prefer to be social about it, feel free to get in touch here via my Facebook page! 

 
Posted in: Car loans & leasing

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