With strong indications that the official cash rate is highly likely to be increased possibly this year, those considering buying a new car will be keen to move those plans forward. Any change in the cash rate will usually flow through to lending sectors including motor vehicle finance. To assist in deciding which vehicle to purchase, reviewing the best selling cars lists can be a at least a starting point.
The latest car sales figures are in, for January, and can provide great ideas for anyone in the market for a new car. Who doesn’t want to know what others have already decided is a good buy, a great deal and what is currently popular. But when reviewing vehicle sales rankings at the moment, it’s worth keeping in mind issues around supply and also what the figures represent.
Best selling cars figures are based on the number of vehicles sold and actually delivered to customers in the period. There are dealers which have good orders but delivery is delayed due to the global supply issues. The best sellers are also not the best cars on the market as judged by experts in awards style events. But what is popular with buyers is certainly worth checking out.
Overview January Figures
The total cars sold for the month of January this year is a decline on the number sold in January last year. A 4.8% decline was recorded. As mentioned above and as stated by Tony Weber, the Chief Executive of the FCAI, the microprocessor shortage and stock issues is having an effect on motor vehicle sales.
Mr Weber also mentioned that the interest in buying new cars remained strong despite the current issues impacting local availability of some makes and models.
The monthly car sales figures are reported in total units with the comparison percentage change on the month in the previous year also given. The figures vary across the states, in many ways this likely reflects the varying impacts of Omicron and restrictions in different states.
Tasmania recorded the only increase up 15.4%. The other states and territories recorded a drop in sales from 1.6% to 13%
Leading Makes and Models
In taking in this data, don’t forget the stock availability issue!
The top brand based on sales across all categories is Toyota. Second was Mazda, third Mitsubishi, fourth Kia, followed by Hyundai to make up the top 5.
Overall Models: Toyota HiLux came out on top following strong competition from the Ford Ranger in late 2021. Ranger is in second, Mazda CX5 was third, followed by Mitsubishi Triton and then Toyota Prado.
The MG3 topped the light category in the passenger car segment then came Mazda 2 and Kia Rio. The MG is extremely competitively priced and clearly in tune with buyers. The Hyundai i30 sold the most in the small category followed by the Toyota Corolla and then the Mazda3.
If you’re in the market for a medium sized car, follow other buyers and check out the Toyota Camry. It topped the sales figures in its category. The compact SUV is a very popular vehicle as it multi-tasks and suits both recreational requirements and the weekly grind. The Mazda CX3 came out on top on sales for January in this class.
Selecting a Loan to Suit the Car
For most new car buyers, the search for the best car loan is as important as the search for the best vehicle. The range of loan types available is different for private car purchases and business vehicle acquisitions.
Jade Finance offers the complete portfolio of finance options so we have the best loan for all buyers. The selection of loan choices for new car buyers includes:-
- Secured Car Loan for buyers purchasing cars for private use
- Chattel Mortgage Motor Vehicle for business vehicle buyers. This type of finance is best suited for those seeking to claim temporary full expensing with their purchase.
- Motor Vehicle Lease for business buyers. A very popular form of finance and the lease payments are tax deductible.
- Commercial Hire Purchase for business buyers, sometimes named as Hire Purchase by some lenders.
Business buyers are recommended to refer to their accountant in deciding which finance product best suits their specific business objectives. Our consultants will then handle the entire finance process for you.
All Jade Finance car loans include:-
- Pre-approved loans available
- No deposit finance available
- Fixed interest rates available on all these finance products from Jade Finance
- Cheap interest rates available across our portfolio
- The best and cheapest loan sourced from across a vast selection of motor vehicle lenders
- Terms negotiable to best suit buyer requirements
- Balloon/residual option on business vehicle finance
To assist with coming to a buying decision when comparing different cars, use our car loan calculator. It quickly shows you the estimated repayment on the purchase price of the car.
With stock a major issue for some models, it can be a very good idea to have your finance confirmed with a pre-approved loan before presenting to a dealership. With your loan sorted you can immediately proceed to place your order and possibly capture the car you want even when stock is limited.
Contact Jade Finance 1300 000 008 for loans on best-selling cars
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.
