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Is EOFY really the best time of year to buy a car?

Find out how to get the best deal through research, demo cars, insurance and more.

22 May2019

It’s that time of year again! The end of financial year sales are on and car dealers are rushing cars out the door. But is it really the best time of year to buy a car? And once you’ve found your dream car how do you make sure you’re protected when you drive out of the dealership? 

Why do you get a better deal on a car during the end of financial year?

Getting a good deal on a new car can be done any time of year; however, it’s more likely you’ll get one at the end of the financial year for a number of reasons:

  1. There is a lot of competition between car brands and dealerships during this time.

  2. Car dealers want to end the financial year strongly and will generally be more flexible with deals during this time.

  3. There may be tax advantages to buying a car before the financial year is over. Make sure to check with your accountant for advice. This is why utes and other trade vehicles are often on sale around EOFY.

  4. Dealers may also want to sell their stock quickly to make room for more new cars.

 If you’re looking for a car around this time, it can pay to bargain with the dealers.

buy a new car 

What can you do to make sure you get the best deal this EOFY?

  1. Do your research online before you head to the dealership. It’s worth putting together a shortlist of cars that you want to test drive, that way you can ensure you don’t get swayed by persuasive salesperson offering special EOFY offers and can go into test drives with a plan.

  2. Think about what accessories you might want with your car. Are floor mats a must have? If you’re going to be 4WD’ing will you need a bull bar? If so, you should negotiate them as part of your deal. There’s no point getting the best deal you can and then needing to add these on as extras when you could have them as part of the deal. In fact a lot of dealers will offer free accessories as part of their EOFY sales which you can take advantage of.

  3. When car shopping you may see two different prices, RRP (recommended retail price) and drive away. The drive away is the best price to look at as that will include your on-road costs such as dealer delivery, stamp duty, registration and Compulsory Third Party Insurance (CTP). However, keep in mind that if you want your vehicle to be covered for events like collisions, accidental damage, theft and damage to a third party's vehicle or property, you will need to arrange comprehensive insurance before you drive your new car out of the dealership. It’s a good idea to get a quote for this early on so that you can factor it into your costs.

  4. EOFY is the time to move stock but that doesn’t just mean new cars, take a look at what demo or used stock dealers have. So you know what you’re getting, here is a guide on the different types of cars.
  • A brand new car will have been driven less than 2 km’s as it was driven off the truck into the showroom.
  • A demonstrator has low km’s but has been lightly driven and already registered.
  • A used car has been previously owned and driven and was probably traded in to the dealership.


So now that you’re ready, head into the EOFY sales with confidence. If you are looking for a little help to get behind the wheel our Discounted Personal Loan (Car Loan) might be just for you!

Subject to the product issuer’s underwriting rules and acceptance guidelines.

Terms, conditions and exclusions apply and are available upon application.

The information above is general advice only and does not take into consideration your personal objectives, financial situation or needs (“your personal circumstances”). Please consider the relevant Product Disclosure Statement (PDS), other Disclosure Documents and your personal circumstances before making any decision to purchase the products. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant.

General insurance (including Travel Insurance) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance. All our insurance issuers pay commission at rates which range from 0% - 40% of the base premium. The commission rate varies depending on the type of insurance.

People’s Choice Credit Union, a trading name of Australian Central Credit Union Ltd. ABN 11 087 651 125 Australian Financial Services Licence 244310, acts under its own Australian Financial Service Licence and under an agreement with the insurer Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance.

People’s Choice may be able to assist with your car insurance needs.


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