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End of Financial Year Car Sales

Are you looking to get a great deal on a car purchase? Save money by taking advantage of end of financial year sales on cars

Special deals on cars always pop up during the end of the financial year (EOFY), as car dealers struggle to clear their outdated stock and meet their yearly sales targets. Shopping at EOFY sales can save you money, as this is the time when car distributors and dealers give customers special deals as an incentive to achieve better car sales before they close their books for the year. Making a car purchase at this time of year is made even better by the fact that you can get a bargain.

IMB New Car Loan

IMB New Car Loan

from

5.99 % p.a.

fixed rate

from

6.34 % p.a.

comparison rate

  • No monthly fees
  • No early repayment fees
  • Borrow up to $75,000
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IMB New Car Loan

Apply for IMB New Car Loan and enjoy a great low fixed interest rate with no ongoing fees.

  • Interest rate from: 5.99% p.a.
  • Comparison rate: 6.34% p.a.
  • Interest rate type: Fixed
  • Application fee: $250
  • Minimum loan amount: $2,000
  • Maximum loan amount: $75,000
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EOFYS Car Loans you can apply for

Rates last updated February 22nd, 2018
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
IMB New Car Loan
From 5.99% (fixed)
6.34%
$2,000
1 to 7 years
$0
$250
Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.
Beyond Bank Low Rate Car Loan
From 5.69% (fixed)
5.97%
$25,000
1 to 7 years
$0
$175
A great rate for cars under 2 years old.
Stratton Finance New Car Loan
From 5.49% (fixed)
6.62%
$18,000
1 to 10 years
$7
$499
Benefit from a car broker with over 25 years experience
bcu Special Car Loan
5.9% (variable)
6.82%
$5,000
1 to 5 years
$8
$250
Benefit from a competitive rate when you take out a bcu Access Account.
RACV New Car Loans
From 6.49% (fixed)
7.03%
$15,000
1 to 7 years
$0
$380
A competitive rate car loan from RACV with no monthly fees and 5-hour loan approval.
NRMA New Car Loan
From 6.49% (fixed)
7.03%
$15,000
1 to 7 years
$0
$380
Purchase a new car with an NRMA Car Loan with a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
Latitude Car Loan
From 6.99% (fixed)
8.1%
$5,000
1 to 7 years
$10
$295
A secured loan with a competitive rate that can help you finance a range of new or used vehicles.
Heritage Bank Car Loan
From 8.99% (fixed)
9.62%
$5,000
1 to 7 years
$5
$200
Apply for up to $100,000 to finance a new or used car at a competitive fixed rate.
IMB Secured Personal Loan
From 6.89% (fixed)
7.24%
$2,000
1 to 5 years
$0
$250
All approved applicants can access this competitive rate and use the loan to finance a range of purposes. Loan amounts up to $60,000 available.
RACV Personal Loan
From 7.49% (fixed)
8.04%
$5,000
1 to 7 years
$0
$380
Take advantage of a competitive rate by securing an asset to this loan. Use the funds for any purpose.
AutoCarLoans
From 5.16% (fixed)
6.64%
$15,000
1 to 7 years
$5
$381.80
AutoCarLoans can match you with a lender from its panel with rates starting from 5.16% p.a. Suitable for vehicles up to 2 years old.
MyState Secured Personal Loan
From 7.99% (variable)
8.96%
$10,000
1 to 10 years
$10
$200
Apply for a loan up to $75,000 and benefit from loan terms up to 10 years. Your choice between secured or unsecured.
Freedom Finance Car Loan
From 5.1% (fixed)
5.94%
$35,000
1 to 5 years
$0
$380
If you meet all the requirements you could get access to a range of lenders to finance a new or used car up to 4 years.
Latitude Personal Loan (Secured)
From 12.99% (fixed)
14.2%
$3,000
2 to 7 years
$13
$250 (Loans under $4000 - $140)
Benefit from a tailored fixed rate with a loan that can be used for any purpose.
Westpac Car Loan
From 8.49% (fixed)
9.67%
$10,000
1 to 7 years
$12
$250
Finance a new or used car and benefit from great features for car buyers including a car search tool and the option to borrow extra for on-road costs.

Compare up to 4 providers

EOFY sales are usually brilliant, with many dealers across Australia offering great deals on car purchases. In fact, this period is the only time you can get bargains that can save you a couple of thousand dollars with deals that cover off-road costs i.e. third party insurance and registration fees.

How to bargain for a better deal during EOFY

EOFY car sales present a unique opportunity to purchase cars at reduced prices, as dealers battle to attract more customers before the close of the year. Purchasing a new car during these sales gives you a genuine opportunity to save money and get a great deal.

As lucrative as it may be, getting a great bargain on EOFY sales can be a daunting task, as the period is usually hectic. To ensure you get in on the act and enjoy great bargains on cars, take time to compare personal car loans from different lenders, so that you get one that suits your finances. During the close of the year, lenders are also desperate to hit their yearly credit targets, meaning that you can get a car loan with reduced interest rates even with a credit rating that is not so great. With your low-interest motor vehicle financing, your will be well positioned to take advantage of end year deals from car dealers and get a business vehicle such as a truck or SUV, or a personal car for lowered prices.

How to save money when buying a car during EOFY

The main reason why people jump at EOFY sales is to save as much as possible on a car purchase. Keep the following tricks in mind to make sure you get the best deal during the sales:

    • Terms and conditions. Some car dealers are not very transparent about the real price of the car they are advertising. In order to ensure you get a good deal, be sure to read through the fine print on the car advertisement to ensure the car you are buying is the right car for you.
    • Pick and choose features. Extra features on prestige car models can raise retail price significantly, so you can ask for certain features you may not need to be dropped in an effort to bring the cost of the car down.
    • Cost of delivery. Delivery fees should also be considered carefully when buying a car because they can raise the price despite the dealer offering discount deals on on-road costs.
    • Deals and packages. If you find a dealer offering competitive rates, you can save more by taking advantage of this, especially if the rates are offered as part of a lucrative overall package. However in most cases, it may be better to use your financial institution to source for affordable car finance to use during EOFY sales.
    • Consider pre-approval. If you're looking to secure finance for your car purchase, you might want to look into getting pre-approved for your loan. Pre-approval can give you the upper hand in the sale as you'll know how much you have to spend and have more bargaining power. Find out more about pre-approval by reading our guide.

Cars for the End of Financial Year Sale

June 30 marks the EOFY D-Day, and customers all over Australia look to get a discount on various car models in showrooms all over the country. Customers get to benefit from reduced prices on cars that have stayed in showrooms longer than expected or cars that have probably done demonstrator duty. Here is a look at the best car deals available in the market:

      • City cars.You can get some great deals on city cars from some of Australia’s leading car dealers, including Toyota, Mazda and Ford. For starters, customers can get up to $500 off the Mazda 2, a relatively new car in the market that comes with a great bargain on CTP insurance and free registration. The Ford-Fiesta hatchback is also being sold by dealers at a great price of $15,600, a drive away offer that saves you money up to $3,000. The leading seller in the category of city cars is definitely the Toyota Yaris, with some dealers offering discounts of up to $2,200.
      • Medium cars. The Toyota Camry was leading in EOFY sales last year, with most car dealers offering discounts on some popular Toyota brands. In general, most car dealers will give you a discount of anywhere around $1,500 on most standard car models in this category.

If you are looking to get a great discount on a car purchase, the EOFY sales are definitely a good time for you to buy it. This is mainly due to the end of year rush when car dealers try to clear as many cars from their showrooms as possible so as to meet yearly targets and to avoid the painstaking task of having to count outdated stock.

With proper timing and affordable car financing, you can end up getting a great bargain such as a reduced retail price, extra car features at no added cost and great bargains on car insurance and other on-road costs.

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Car Loan Offers

Important Information*
IMB New Car Loan

Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.

Beyond Bank Low Rate Car Loan "Special Offer"

A great rate for cars under 2 years old.

RACV New Car Loans

A competitive rate car loan from RACV with no monthly fees and 5-hour loan approval.

Heritage Bank Car Loan

Apply for up to $100,000 to finance a new or used car at a competitive fixed rate.

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