When’s the Best Time to Buy a New Car?

Last updated on November 25th, 2021
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

At Savvy, our mission is to empower you to make informed financial choices. While we maintain stringent editorial standards, this article may include mentions of products offered by our partners. Here’s how we generate income.

End of the Month

The end of the month put salespeople on the lookout for someone – anyone – who will come in and buy a new car. Salespeople live and die by their sales targets. Going in at the end of the month when they might be a little more desperate to sell and more open to negotiation. Salespeople want a big fat commission, sure. When they’re in survival mode? That’s the time to go in for a killing!

End of Financial Year Sales

You’re forgiven if the acronym EOFYS was coined by car companies to sell more cars. (It wouldn’t surprise us, though.) Dealers want to get earlier models out the door to make room for newer models, especially ones on the showroom floor. The more cars they push, the better their end of FY sales figures look. Negotiate hard and drop your price often.

Christmas and End of Year sales

Christmas and the New Year is often a quiet period for dealers. People are generally more preoccupied with going on holiday and buying consumer goods than cars. Another advantage for a buyer is that dealers want to shift cars built in that calendar year, as “last year’s car” (even if it’s only a week or two!) is much harder to sell as time winds on.

After storms

This might take some by surprise, but after big storms – hailstorms particularly – bargain hunters often buy hail-damaged cars at a massive discount. Of course, these “bargain hunters” are often professional panel beaters or structural mechanics and know what they’re doing. We do not recommend you buy a hail-damaged car. But they do leave dealerships quieter than usual, which could be a good time to buy.

New model run-out/stocktake sales

When new models are just around the corner, dealerships slash the prices on the older ones. Sometimes this gets advertised in some big flashy ad campaign – other times it’s a little quieter. It’s worth checking out car mags and blogs to see if a new model of the car you’ve got your eye on is due to come out. New model “run outs” and “stocktake sales” are great if you aren’t fussed about getting the newer model and want a bargain!

Did you find this page helpful?

Thanks for your feedback!

This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.

The content on our website is produced by experts in the field of finance and reviewed as part of our editorial guidelines. We endeavour to keep all information across our site updated with accurate information.

Approval for car loans is always subject to our lender’s terms, conditions and qualification criteria. Lenders will undertake a credit check in line with responsible lending obligations to help determine whether you’re in a position to take on the loan you’re applying for.

The interest rate, comparison rate, fees and monthly repayments will depend on factors specific to your profile, such as your financial situation, as well others, such as the loan’s size and your chosen repayment term. Costs such as broker fees, redraw fees or early repayment fees, and cost savings such as fee waivers, aren’t included in the comparison rate but may influence the cost of the loan. Different terms, fees or other loan amounts may result in a different comparison rate.

In this article

Share this article

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on pinterest

Looking for a car loan quote?

Compare over 40 lenders with Savvy and save on your next car purchase.

* Terms and conditions and lending criteria apply.

Smart money saving tips

Subscribe to our newsletter.

By subscribing you agree to our privacy policy

Related articles

Looking for a car loan?

Explore a range of car finance options with Savvy and get the wheels in motion today.