Become a Member   |   Password Reminder
LOGIN   


Great Time to Buy

If you're looking to get a great deal on new car, you're in luck. The stars are currently in perfect alignment to get what you want at a price you want. And this is not an "end of year" marketing spin!

 Why Now?

The Dealers

November and December is the time dealers want to sell their cars to meet their sales quota. Plus they have some old cars in stock that cost them money to hold. The longer they have them, the harder they are to sell as people generally want the "newest" car.

The Manufacturers

They want to move stock to stake claim to being the "number one car company" or the "number one prestige brand" in Australia. Add to this the desire to move "2008 plated models" and the pendulum swings the buyers way. The manufacturers provide financial and advertising support to the dealers to move as many cars as possible at this time. Billy Falconer, General Manager Sales & Operations, Proton Cars agrees. "We're just as keen as any car company to support our dealers to sell cars at this time. For example, until 31st December, you can buy a 5 Door Savvy for only $13,990 drive away, saving over $2,000". If you can save up to 2 grand with Proton, there's bound to be some great savings at the pointy end of the market!

The Financial Meltdown

The financial crisis in the US has had a pretty major impact here. Firstly, the collapse and takeover of prominent investment banks has led to a loss of jobs locally and a reduction in earnings of brokers.  For some, it's time to sell the Porsche and Beemer and see what Ford has to offer. Cheap used prestige cars and fewer people visiting the European car showrooms, mean there are deals to be had.

Tiffany Cooney, Corporate Sales Manager from BMW Sydney says "the current market situation has certainly created unprecedented opportunities to own a BMW. We are in run out of the current 3 series and have several upgrades on other models coming soon. There really are some incredible offers that make buying this time of year a good idea". Want a 3 series, buy it now!

But Wait, There's More

The impact of the financial crisis doesn't end there. All new cars sitting in the showroom are financed. Two of the major automotive finance companies, GE Money and GMAC, have just announced they are pulling out of the Australian market. It is believed that some dealers have been given 60 days to refinance their stock. So a dealer that has 10 dealerships, holding 30 cars each, with an average price of $30,000 needs to find a cool $9 million just before Chrissy. Mmm, what's the major prize in Powerball this week?

Whilst it is a difficult time for both the car industry and many people, for those who are looking to buy this month you will get a good price. I guess every cloud does have a silver lining after all.

Print this page Print This Page

Loading the Comments...