Checking Out RV, Boat, Bike and Car EOFY Sales? Here’s What You Need to Know About Deals and Offers.

EOFY sales for cars, motorbikes, boats and caravans can include varying types of discounting and buyers should be fully across the deal details before buying. End of financial year sale time can be quite frantic with plenty of hype and ads for reduced prices on a wide range of goods. This is a highly anticipated time of the year for many people that have been waiting for the price to come down to buy their new car, boat or caravan.

While this can be a great time to buy, buyers can be confronted with not just a simple price reduction, but a range of different deals and offers. Navigating through the options can be confusing for many buyers. The process may slow down the process of securing limited quantity models.

Whether in the market for a new vehicle, boat, caravan, motorbike or business equipment, you’ll want to be quick to secure a great deal. To help buyers get across the different types of sale offers and be ready to buy, we provide this explainer with expert tips on what to watch out for and how to secure affordable loans.

Price Cut EOFY Sales

This is the easiest sale to navigate where a set dollar discount amount is advertised. Where a percentage discount is available, buyers will have to do the sums to work out the price. Slightly more complex, but still a lower price and hopefully savings.

Buyers should check that the price cut applies to the model that they want. Discounts may apply only to selected ranges or model variants which do not suit the buyer’s purposes. If not ideal, why not check out what’s available from another brand on the vehicle or boat you really want?

Also check if the discount is off the entire purchase price. Or especially with cars, are dealer delivery charges on top of that?

The colour or other features may not be exactly what you had in mind, but the price cut could be worth compromising on small details.

What is a Cashback?

Cashbacks seem to be offered on many purchases. While popular with dealers and manufacturers, they may not be so popular with buyers. Why? Because the buyer has to do the work to get their discount or cashback. The price cut is not immediately applied at the point of purchase. 

What is a cashback? The ACCC, the authority responsible for competition and pricing, explains that a cashback is a type of price discounting. With this type of offer, the buyer needs to either go online or complete a form to send in to the brand or manufacturer to redeem the discount. This means keeping the receipt and ensuring you have all the details – model number, date of purchase, place of purchase, serial numbers and other specifics.

The ACCC's advice to buyers before purchasing is to check if there is a cut-off date to claim the cashback; what steps they need to take to submit their claim; and how long they will need to wait to get their rebate. After submitting a cashback claim, make sure you retain all the details and keep a copy of the claim submission in case there are delays or you need to follow up.

Buyers who require a loan to purchase their goods will need to source financing to cover the full price before the cashback is applied.

Run-Outs and Clearances

EOFY sales are often scheduled around the timing of new model launches for the brand. Manufacturers may offer a dealer-wide sale event on current and demo models to clear inventories before the arrival of the new models. Dealers may run their own clearances simply to reduce stock levels.

These events typically include reduced prices but may not be ‘store-wide’, ‘brand-wide’ or ‘range-wide’. The clearance may be for just the one or a few models or just on a few vehicles. Caravan dealers will often run clearances on their showroom stock. The sale only applies to those specific RVs, not to orders for new RVs to be built.

With marine dealer clearances, the deals may be on boat and trailer packages that are available on the lot. Note that we do offer Secured Boat Loans to cover the full package purchase of boat, motor and trailer.

To capture the best deals in these events, it may pay to be open-minded and be quick with your finance pre-arranged. Open-minded to consider another colour perhaps on a demo vehicle, or a top-of-the-range variant with extra accessories. Compromises can be required to realise savings at sale time.

EOFY Sales With Free Inclusions

It’s quite common to see cars, motorbikes and equipment advertised with FREE items included in the price. The price may not be reduced, but the manufacturer or dealer is including extras for the same price. These may be free servicing, extended warranties, accessory packs and motorcycle merchandise.

Nice little extras if that is what a buyer wants. Check the details and decide if those FREE items do represent value for you. 

EOFY Sales With Low-Rate Finance Deals

Special dealer finance offers at sale time and at other times should be closely studied by buyers before they commit. These types of offers can include a very low rate of interest or an advertised ‘price per month’. The offer can typically include the condition ‘from’ or an asterisk*. This usually means that not every buyer is eligible or will receive that price or finance offer.

Details that buyers should be looking at include – is the type of loan suitable for you? If a business operation, can you choose Lease, Chattel Mortgage, CHP or Rent-to-Own? Does the advertised interest rate apply to the entire loan term? Does the rate or payments advertised include fees and charges? Are negotiable terms to suit you and deliver payments that suit you available? Who is eligible for the financing? Are there special terms and conditions?

To ensure you are getting your best possible finance deal from the most suitable lender, request a quote from Jade to compare with any dealer finance offers. We provide services to individuals and businesses. We source the most competitive rates from 80+ lenders and negotiate directly with lenders on terms and payment schedules to suit buyer budgets and cash flow.

With any discounted goods, the price still has to be affordable for the buyer. Use our buying tools — Finance Calculator and Rate Calculator — to determine if the goods on sale are in your affordability zone. To be ready to buy, apply for pre-approved finance and set your sights on prices within your borrowing capacity and loan payment limits.

Approach EOFY sales with confidence and with the best finance from Jade Finance.

DISCLAIMER: NO LIABILITY IS ACCEPTED IF ERRORS OR MISREPRESENTATIONS ARE FOUND IN THIS ARTICLE. THE ARTICLE IS PREPARED AND PRESENTED FOR GENERAL INFORMATIVE PURPOSES AND IS NOT INTENDED TO BE THE SOLE SOURCE OF INFORMATION FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING GUIDANCE AND ADVICE SHOULD CONSULT A FINANCIAL ADVISOR.