May 20 2020
EOFY Really is The Best Time to Buy a New Car
The time of car brands bombarding our TV screens is approaching promoting their unmissable deals and prices never to be seen again.
EOFY isn’t just a marketing myth, but really is the best time to buy your new car!
Incentives are placed on customers to buy and move stock rather than dealers – and it works. During June, dealerships experience their greatest month of sales. In 2017, Toyota sold 11.3% of its total vehicles sold for the year in June. Likewise, Mercedes-Benz and Isuzu Ute sold 13.3% and 13.8% respectively during June.
Manufacturers slash the cars prices to the bone, meaning dealers offer massive discounts and thousands, even tens of thousands in savings, leading up to June 30. Slower moving stocks prices are reduced heavily to clear it faster, so if you’re not fussed about the colour of your car this can save you further!
Why are cars so heavily reduced?
Leading up to the EOFY, dealers tally their current stock on hand, number of sales made over the year and how much revenue and profit they’ve generated for the financial year. When there’s extra stock on hand and budgets still to hit, car brands offer their dealers whole incentives to clear the stock that has been sitting on the floor for a while.
How does COVID-19 affect EOFY car sales?
The new car market has slowed since the COVID-19 outbreak, which is understandable. However, car dealerships and service centres are still open and operating as usual. Customers are seeing great deals on cars that are only going to get better towards the end of June. With decreased sales, dealers are going to be more incentivised than ever to sell their stock and offer unmissable (yes we’re serious) deals.
If a certain car has caught your eye, now is definitely the time to buy it!
How do I save even more on my next car?
A novated lease is a great way to save thousands more on your new car. With your choice of any car; new, used and demo models, there is almost no limit on what car you can novate!
A novated lease saves you thousands more all year round, by allowing you to pay for your new car and it’s running costs out of your pre-tax income. This reduces your overall taxable income, saving you on the tax you pay.
Being involved in the industry for nearly 30 years, Remunerator has an extensive dealer network and buying power. We help you make further savings when you source your new car through Remunerator’s car procurement service. With access to fleet discounts, you will get an amazing price on your new car and save further thousands!