When it comes to buying a new car for the family (and the ever-expanding circle of friends your kids are accumulating), or upgrading your weekender, EOFY offers a great opportunity to not only save but to take stock of your finances as the year draws to a close. Here, we’ve compiled some of the best tips to take advantage of the EOFY offers and make the purchase more affordable.

Buying a new car at EOFY

June is a hugely popular time of year to buy a new car. Every dealer in town seems to be offering ‘never to be seen again’ pricing. But this isn’t just marketing rhetoric. Dealerships have annual targets, and, importantly, need to start making room for the new stock that will roll around in Spring – that definitely won’t be discounted.

So, if you’re thinking of swapping your car, this is a great time to take the plunge. You can take advantage of some great offers, and you could save a substantial amount of money. However, it is crucial to shop around – competition is fierce in the car industry, more so than ever during this period. Compare prices, look at different offers and packages, and take your time to mull over the options and make a decision.

Some dealers will reduce prices, while others may throw in additional extras at no charge. Look for incentives that appeal to you. If you’ve got kids, and you’re envisaging packing up the car to hit the beach for fun days out, free alloy wheels and luxury leather seating may not be as attractive as a bigger upfront discount.

Choosing the right car

If you’ve got enthusiastic dealers offering you ‘the best discount in town’ everywhere you turn, it can be tricky to narrow down the options and make a choice. Think about what type of car would suit you best, and how you plan to use your car. As a mother or a pet owner, for example, you’ll need plenty of space, but you should also factor in safety records and fuel economy. If you love driving, you may be on the hunt for a car that is safe and practical but also has a sporty edge. Once you know what type of car you want, take a look around different showrooms, research online, create a shortlist, and then arrange some test drives. You can only really get a feel for a car and how it drives when you’re on the road, so this is a really valuable experience. Finally, when you have a leading contender, be prepared to haggle on the price, extras or both!

If you aren’t confident in the bargaining process, why not try a car buying service like amfin. Just tell them the make and model of your choice and they will negotiate with every dealer around the country to get you the best price.

Finance options for a new car

Balancing a household budget can be tough, especially if you feel like you have endless outgoings like a mortgage, childcare, energy bills, and commuting costs. Buying a new car offers an opportunity to review your finances, even if you don’t end up purchasing. There are various options available when buying a new car. Paying cash is one avenue you could pursue, but this is not a viable option for many buyers. If you are paying cash, use this to your advantage, the faster the dealer thinks you can pay, the more they are usually willing to move on price.

If you can’t afford to pay for a new car with cash, there are alternatives. One popular option is taking out a secured loan. You borrow a lump sum from a lender, which is used to buy the car, and you then pay off the amount with interest over an agreed term.

A novated lease may also be an idea if you’re employed. With this form of finance, your employer pays for the car, and the cost is deducted from your wages both pre and post-tax. This is a popular option for high-income earners, as the running costs – including petrol, registration, maintenance and insurance – are typically included in the one repayment, potentially reducing tax and making the budget easier to manage.

Before you sign on the dotted line, it’s wise to consider every finance option and think about which type of payment suits you and your family best. Our partners at amfin can guide you through the different finance options and tailor a solution that fits your budget.


Amfin is your personal finance shopper, tailoring each loan to your budget and lifestyle. With access to over 30 lenders and 1000s of products, they can help find the perfect solution to fund your new family vehicle or weekend getaway without breaking the bank