June is usually time for savvy buyers to be out and about to scour the market for EOFY deals on cars and motorbikes. But with global supply issues and the computer chip shortage disrupting manufacturing and deliveries, especially in the motor vehicle sector, buyers are unlikely to find as many deals as usual this year. But there is another deadline looming which might cause buyers to hurry with purchases and that is in acquiring motor vehicle finance prior to the next round of interest rate rises.
The RBA is due to meet on July 5 and another rise in the cash rate is highly expected. That will cause lending rates in both business and consumer finance to creep up as happened following the cash rate rises in the past two months.
So time is of the essence in terms of sourcing finance if you’re looking to save on interest rate. If you’re looking to also save on vehicle prices, there some EOFY deals available. To be in a position to secure limited stock of EOFY discounted cars buyers are strongly advised to first secure motor vehicle finance with pre-approved loans.
To assist buyers speed up both sides of the process – the finance and the finding vehicles, we’ve compiled a list of some of the deals which are currently being advertised online and our consultants are ready to assist you immediately with quick quotes and fast approvals for finance.
It is widely known that delivery of many new vehicles is stretching to up to a year. While deals are being advertised, buyers are warned to check dealerships for stock and confirm delivery time. We have seen some promos with ‘delayed delivery’ in the fine print.
Delayed delivery will mean that any pre-approved motor vehicle finance would need to be reviewed and re-quoted in line with delivery timings. This could result in a higher interest rate due to the expected decisions coming from the RBA.
Currently Advertised Car Discounts
Here are a few of the discounted pricings we found for your consideration:-
- For tradies and those wanting a vehicle to tow boats or take bikes and other gear away for the weekend, Isuzu is advertising discounted prices on a number of models of the D-MAX.
- If upgrading your delivery van to take advantage of the tax deductions on offer this year is on your agenda then consider the Mercedes-Benz Vito offers. Savings can be realised with the on-road costs.
- Kia is advertising reduced prices on a number of models across their range of passenger vehicles. These include on the Stonic, Rio, Stinger, Picanto and the Cerato.
- Those looking for European style can take a look at the pricing on the Alfa Romeo Stevio.
A quick browse around a number of other manufacturers and we found offers which relate to a price saving on a current model prior to the price going up. Any saving made on future delivery vehicles should be considered in relation to the anticipated car loan interest rates at that time. Refer to our Loan Calculators to see how the repayments may differ with a higher rate.
For those preferring two wheels to four, there are a number of motorcycle brands which are currently advertising discounts.
- A promotion from Aprilia sees great rideaway pricing on a number of variants in the range of Tuono models. Savings advertised at up to over $3000. Great news for timing, these offers run through to July 31.
- BMW is advertising savings available on some R18 models of between $5K and $7K. That has to be worth considering.
- Complimentary accessories valued at around $800 are on offer on the Indian FTR.
- Cash backs are available on certain Kawasaki models and run out and plate clearance deals are also advertised.
- EOFY deals are also on offer from Royal Enfield for the Continental model GT 650 as well as Interceptor.
Meeting EOFY Deadlines
There are only a few days to 30 June so keen buyers will need to be smart and savvy to secure finance and a discounted vehicle by the deadline. We strongly recommend contacting us to start the finance application as soon as possible. We can arrange pre-approved finance across our range of Motor Vehicle Finance and Motorbike Finance products. Requested expedited finance does not incur a premium or higher interest rate.
Simply provide your Jade Finance consultant with a price range of what you expect to pay for your vehicle and we’ll get straight onto sourcing quotes based on that pricing. When the application is approved and the vehicle purchased confirmed, we can amend the final loan amount to match the purchase price on the dealer invoice.
Using our services are sure to save you valuable time compared with you having to make multiple calls for quotes to compare from multiple banks and finance companies. Our consultants do all that laborious and time-consuming work for you and much faster. We know which lenders are offering the best deals on finance at any particular time and which lender will best suit the individual requirements of our customers.
Moving quickly this week, prior to the EOFY deadline may deliver extensive benefits to buyers:-
- Secure discounted vehicles and motorcycles.
- Secure finance at this week’s interest rates prior to the expected 5 July increase.
- Business buyers may select Chattel Mortgage and realise the tax benefits of temporary full expensing in this financial year.
When you add up the figures, there is quite a lot at stake – in the buyer’s favour. IF you act quickly. So contact us now and get moving.
Contact Jade Finance 1300 000 008 for finance in a hurry for motor vehicles and motorcycles.
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.