Save an average $3400 on your next car in EOFY sales

Those in the market for a new car right now, may want to take advantage of the EOFY sales

Whether you’re in the market to buy a brand new small hatchback or an SUV to fit the entire family, there is money to be saved by getting in on EOFY deals.

To help you get the best deal out there, there are a few tricks of the trade to remember when it’s time to haggle.

TODAY chatted to Graham Cooke from Finder.com.au who has crunched the numbers and found the top picks across the categories:

TODAY: So, is end of financial year is the best time to bag a bargain?

COOKE: The arrival of a new financial year means new models so car companies are offering big savings and enticing extras thrown in. Savvy shoppers who have waited until now (June) to buy a new car could pocket thousands of dollars in savings. In fact, the average discount during the EOFY period is $3,400 – or around 10% saving on the original price of the vehicle. In addition to discounted car prices, there could be further savings to be had. Be sure to look out for additional giveaways like extended warranty or features like alloy wheels and parking assistance.

TODAY: What’s your general advice for anyone looking to haggle a good deal on a new set of wheels in the end of financial year sales?

COOKE: Here are my tips:

  • Pick and choose features — Extra features can raise retail price significantly, so you can ask for certain features you may not need to be dropped in an effort to bring the cost of the car down.
  • Shop around and ask if they price match — Don’t put all your eggs in one basket and see what a variety of dealers can offer you.
  • Don’t be rushed — Although technically end of financial year finishes up on June 30, some deals stay on sale for a few weeks after. So when they salesperson tells you it’s now or never, don’t let it pressure you.  
  • If you don’t ask, you won’t get — Remember, car dealers have financial targets they need to meet, and they want to make the sale. So don’t be afraid to haggle and to negotiate at different dealerships with and without dealer finance to see if it makes a difference in your negotiating power.
  • Wait until the very last minute — Chances are that the car dealership wants the sale more than you need the purchase, so be prepared to walk away and put the pressure back on the dealer.
  • Consider your different financing options — A car loan is naturally the most obvious choice when it comes to financing however isn’t your only option.

TODAY: Now, you’ve crunched the numbers on some of the deals where you can get the biggest saving, talk us through the Volkswagen, New Polo 70 TSI?

COOKE: The RRP for the Volkswagen, New Polo 70 TSI is $24,092, however this EOFY the price has been slashed by $4,000, or nearly 15%. A hatchback is a great car option especially for my fellow city dwellers as they can handle narrow lanes, small parking spots and tight turns. For these reasons, they are a great first car option. Due to their size, hatchbacks are also generally pretty fuel-efficient which means the ongoing running costs could be lower than a sedan or SUV.

TODAY: What about people looking for a sedan?

COOKE: Our pick for a good value hatchback is the Mazda 3 Maxx Sport. This sedan is usually $26,152 however shoppers can drive away with one today for only $23,490 and a savings of over 10%. Due to their size, sedans are a great option for individuals, couples and even small families. They generally have better fuel economy and performance than SUVs.

TODAY: And what about a bigger family SUV?

COOKE: Aussies will pay just $43,990 and save over 7% on the Kia Sorento Si currently thanks to their EOFY car deal. Aussies love the outdoors so many opt for a bigger car to transport their gear from point A to point B – whether you’re a golfer, surfer or a parent with kids that play sport, the Kia Sorento has plenty of storage space for your gear. With both rows of seats down there is 1662 litres of cargo space.

Interview and additional text by Lauren Hollands

* In highlighting particular offers we are not making specific recommendations as this article does not cover all available products and may not compare all features relevant to you. Any advice provided is general in nature and does not take account of your needs, objectives or financial situation. Individuals should consider their own circumstances, and if in doubt seek appropriate advice, before proceeding.