It's that time of year again... the End of Financial Year (EOFY) is approaching, and with it comes an opportunity for Australians to snag a great deal on a new car.
Whether you're looking for a brand-new vehicle or a used one, there are plenty of tips and tricks to help you get the best possible price.
Buckle up and get ready for the EOFY, here are the only EOFY car buying tips you need.
Do Your Research
First and foremost, it's essential to do your research before you start shopping for a car. This means researching different makes and models, as well as their prices and features. Look online for reviews and ratings of different cars and talk to our Novated Leasing Specialists to help you make an informed decision.
Get Pre-Approval for Finance
If you're planning to drive your car with a novated lease, it's a good idea to get pre-approved for finance before you start shopping. This will give you an idea of how much you can afford to spend and will also help you negotiate a better deal with the dealership.
Check for EOFY Deals
Many car dealerships offer specials and incentives at the end of financial year, such as cashback offers or free extras like extended warranties. Check online or visit dealerships to see what deals are available.
Negotiate
When it comes to buying a car, negotiation is key. Don't be afraid to haggle with the salesperson or ask for a better deal. Remember that dealerships are often willing to negotiate to close a sale, especially at the end of financial year.
If negotiation isn't for you, we recommend using our in-house car procurement service that sources quotes from our Australia-wide dealership network. Ensuring you the best price on your desired car.
Test Drive the Car
Always test drive a car before making a purchase. This will give you a chance to see how it handles on the road and will also allow you to identify any issues or problems with the vehicle.
Check the Warranty
Make sure you understand the details of the warranty, including its length and what it covers. This will give you peace of mind and ensure that you're fully protected in case of any issues.
Get Insurance
Every car on Australian roads needs insurance, third-party insurance at a minimum. You must ensure you have car insurance before you drive away with your car. This will protect you in case of any accidents or damage to the vehicle. Remunerator have partnered with insurance providers to conveniently source insurance for you. Otherwise, choosing your own insurance provider is available too.
Drive Your Car on a Novated Lease
Novated leasing is the most affordable and tax-effective way to drive your new or used car. Especially an electric car! In a nutshell, a novated lease involves a three-way agreement between you, your employer, and the financier administered by Remunerator.
We bundle the price of the car and all its associated running costs into one regular payment. This repayment comes out of your pay before income tax is applied. This reduced your taxable income meaning you'll make income tax savings by getting your new car!
The end of financial year is a great time for you to buy a new car! By following our tips and doing your research, you can snag a great deal and drive away in the car of your dreams.
Get started today and request a quote to learn how much you can save on your new car with a novated lease.