As any year comes to a close there are the traditional end of year sales. While the retail sector is most traditionally associated with EOY sales which commence with much fanfare on Boxing Day, many other sectors get in on the action. That includes the motor vehicle sector. By November, advertising for plate clearances (a sale of this year’s models) was already underway. After the crazy times of 2020, many dealers are going to be keen to make up for lost sales from earlier in the year, especially end of the financial year when much of the country was in COVID-19 lockdown.
The other event that end of year signals is the teasers for new models coming next year. We’re already seeing ads for 2021 models so it’s time for action!
Car sales can present buyers with some great value pricing on current vehicles. To sweeten the deal, interest rates are low and Jade Car Loans is well-placed to source cheap car loan offers on both private and business purchases. Business buyers who haven’t had the chance to get around to upgrading their vehicles will also be keen to make the most of the Instant Asset Write-off.
Sale time can be a great time but stocks may be limited so buyers should be well-prepared to ensure they don’t miss out.
Preparing for the Sale
The key to being in a position to snap up a bargain is having your finances sorted. If you head into a dealership, go through the look-over and test drive routine and then leave to arrange your finances, you may find by the time you’re sorted, that particular vehicle is sold out.
Jade Car Loans assists buyers with several tools and resources so you’re well-equipped to commit to the purchase on the spot.
- While browsing the ads and listings online, have our commercial vehicle finance calculator open so you can quickly calculate repayment estimates on the advertised prices. While this is only an estimate and the repayments you’re offered may vary, it’s a great way to find out if that particular vehicle is within your monthly budget expectations.
- If you have a trade-in, think about whether to use the value of the trade to reduce the loan amount or have it returned to you and include 100% of the purchase price in the finance. If using it as a deposit, then don’t forget to reduce that from the loan amount in the calculator.
- If your trade-in is still under finance with a loan, then it’s time to call your lender for a payout figure as that loan will need to be finalised before you can trade the car.
- With all that done, use the calculator and if the repayments are calculated to suit you, give us a quick call on 1300 000 003 for a quick quote.
- If the quote suits you, then it’s time to move to the loan application phase for pre-approved finance.
- Business buyers will need to decide which of our commercial car finance products they want for their finance deal. We offer the full portfolio including Chattel Mortgage, Leasing and Commercial Hire Purchase Car. Ensure you have a conversation with your accountant about which will deliver the best tax benefits to your business before the accountant heads off on holiday!
- Once you have decided on the finance type, your Jade consultant will assist with structuring the finance deal about finance terms and the amount of balloon/residual to include to arrive at a repayment level that works with your cash flow.
- For private buyers, our Secured vehicle financing is the most commonly used form of car loan. The major decision to be made is whether or not you will choose to pay a deposit or request 100% of the purchase price in your loan. Your Jade consultant will work with you on sourcing a loan term that results in a repayment level to suit your budget.
Pre-Approved Loans
Jade Car Loans offers pre-approved loans for both private and business buyers and this is the way to go both at sale time and in fact, for most car purchases. You make your application for your car finance before you’ve committed to the purchase.
So how does that work? Well, your Jade consultant will have you complete the relevant application procedures then they will source you a quote and approval. The application will be based on a price estimate of what you think you’re probably going to pay for your new car. That’s not difficult as most people have a general idea of their price bracket.
So you end up with approval for that amount of money and can proceed to commit to your car. Having a pre-approved loan at sale time allows you to commit to purchase on the spot and avoid the risk of missing out when stocks or the sale prices are for a limited time.
Pre-Ordering 2021 Models
The end of the year or early in the new year is also a good time to pre-order 2021 models. We’ve noticed recent advertisements for pre-order on the 2021 Hyundai Palisade. An SUV could work well as that essential cross over between work and play.
Pre-ordering may not entail a full commitment to purchase so you may not need to have your finance pre-approved. Pre-approved finance is also usually only valid for a short period – possibly not long enough to wait for your new model to arrive.
However, you can still go through a pre-approval process with your Jade consultant to ensure that your application and credit profile will meet the lender requirements for the amount you intend to borrow on the new vehicle.
So it’s never too early to start a conversation with a Jade Car Loans consultant about commercial car finance for your new car. Whether you’re preparing for a sale event or want to be first in line for pre-ordering, we can assist with the all-important pre-planning and pre-approval for your finances.
To discuss pre-approved finance for a sales event or to pre-order simply contact Jade Car Loans at 1300 000 003
DISCLAIMER: YOU ARE ADVISED THAT THE INFORMATION PRESENTED HERE IN THIS BLOG, IS FOR GENERAL INFORMATION AND NOT INTENDED TO REPRESENT FINANCIAL ADVICE IN ANY WAY. IF YOU CONSIDER THAT YOU DO REQUIRE ADVICE IN REGARD TO YOUR FINANCIAL SITUATION, THEN WE RECOMMEND THAT YOU SEEK A CONSULTATION WITH A PROFESSIONAL FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED IN REGARD TO THE DETAILS OR ANY ERRORS IN THE CONTENT WHICH MAY IN PART HAVE BEEN SOURCED FROM A RANGE OF SOURCES.
