Why now just might be the best time to upgrade your car
If your car is a part of your daily commute, you might be tempted by the promise of up-to-the-minute styling and the super comfortable ride of a new car, but are there other advantages of upgrading sooner rather than later? The head of car buying for Selectus, Mark Biggart, shares four reasons why you might consider a new set of wheels this year.
The value proposition
There’s a long-held belief that we pay more for our cars in Australia, but according to Mark, this is a misconception. “It may be true for luxury vehicles, but our bestselling cars do pretty well from a competition perspective internationally in terms of prices.
Even the base model Volkswagen Golf is significantly cheaper here than in the UK.”
The reason, he says, is the competitive marketplace forcing manufacturers to keep prices low while maintaining quality and continually incorporating new technology. “When you look at the cost of many cars – such as the Golf – today versus five years ago, largely the cost of the vehicle has either stayed the same or it’s got cheaper, especially when you factor in the seasonal adjustment.”
It’s no secret that dealers go into overdrive at the beginning of the year, clearing last year’s models with deals and discounts, so if you’re thinking about a new car, it’s one of the better times to buy. But it’s not the only time.
The end of financial year is a great time for discounts, and the end of the month can be very good as dealers work to meet their sales targets.
For Selectus customers, significant discounts are an all-year-round thing. As a part of a large network, Selectus’ buying power regularly saves customers thousands on the purchase price of their vehicles.
If you’re looking for a loan or lease to finance your vehicle, low-interest rates only add to the boon for buyers. The Reserve Bank hasn’t raised interest rate in over seven years, in fact, they’ve been falling, stiffening up the competition between lenders. According to Mark, “Low vehicle prices combined with the low cost of money is a pretty strong value proposition, making it a good time to buy a car.”
With manufacturers competing for a slice of the new-car market pie, Australian car buyers are spoiled for choice. And according to Mark, most vehicles among the ten bestsellers had an update of some form in 2017, from features to functionality and price points, which means there are some great cars on the market. Plus, there are some exciting new cars set to launch in Australia this year, which Mark believes will be popular choices for consumers looking for something different.
Have a car in mind? See how affordable it is with Selectus
With a network of 850 dealers across Australia, Selectus’ buying power can save you hundreds – and most often, thousands – on the price of your new car. We can even organise your test drives within our trusted dealer network, so your car buying experience is all service and no sales pitch.