Expectations for EOFY Sales during the Pandemic?

RTD2 on 28/04/2020 - 23:38

Have been in the market for a near-new car for almost a year now. Recently, came across a 2020 used model of the car I wanted being sold privately with <1000km (I am assuming owner needs the money, and has to sell their recently purchased car). The selling price is roughly $2k under what a new car would cost (closer to $3k if you exclude stamp duty).

With sales dropping over these few months, what is everyone expecting from EOFY sales, or even just prices on new cars in general leading up to middle of the year?

I am not in a huge rush to buy a car, not sure if I should jump on this purchase or hold out till the middle of the year.

Automotive

Comments

  • Flowerbomb on 28/04/2020 - 23:47
    +2

    With your car purchase, i reckon you can do better than 2k, especially since it has been driven out the lot.

  • netjock on 28/04/2020 - 23:51
    -1

    Maybe. Just heard today no one is buying cars and the shipping companies might stop running shipping routes. You might be limited to what is available onshore.

  • WaffleCrusader on 29/04/2020 - 00:11

    I’m hoping to see some big sales to get people to spend. I don’t think these companies financials would be looking too good at the moment with the lack of shoppers.

  • Diji1 on 29/04/2020 - 00:39

    Womp ~womp~.

    Diji1 on 29/04/2020 - 00:39 (Collapsed - Offtopic. Show)
  • [Deactivated] on 29/04/2020 - 05:21
    +1

    Given next financial year will almost certainly be worse than this one, is there any incentive to increase sales this financial year?

    • WaffleCrusader on 29/04/2020 - 15:58

      More income = better dividends = happy investors. Next year is next years problem.

  • RockyRaccoon on 29/04/2020 - 07:02

    How can we tell you if the used car is worth it.

    $2k off - you will have to pay the stamp duty so that’s the discount, when

    1. What’s the original price? $50k or $15k if it’s the latter that might be a deal.
    2. Are you comparing the price to standard asking price or negotiated price from dealer.
    3. Is there finance owing on the car, if so that makes it a more complex transaction to protect your purchase
    4. Is it a color you prefer if buying new
    5. And while small it’s still money, there is some lost value in a few months rego used up
  • EightImmortals on 29/04/2020 - 08:22

    Here's soeme reading for you.

    https://www.caradvice.com.au/car-news/topic/industry-sales-r…

  • Euphemistic on 29/04/2020 - 17:43

    Who knows. But if you know what car you want and it isn’t on a waiting list set what price you think is good and go and buy one. The EOfY won’t make a lot of difference at this point. They’ll want to sell whatever they can for the next few months.

    What price bracket is the car you want in? $2k off a $15k car is not to bad, but $2k off a $40k car is not a good deal.

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