6 tips for grabbing a New Year car bargain

Car_loan

The start of a new year presents one of the best opportunities to secure a bargain on both new and used vehicles.  While many people are off on holiday, you can use this opportunity to grab a great deal on a car in 2025. 

Here’s how to navigate the car-buying process and secure a deal that best suits you.

Take advantage of year-end clearance sales 

Dealerships are eager to clear their previous year's inventory as the calendar ticks over. This urgency creates many discounting opportunities, with dealers offering significant price reductions, complementary accessories and drive-away pricing. 

Focus on vehicles with the previous year's plate, as these typically come with the biggest discounts while still being essentially new. 

Consider private sellers 

Don’t limit yourself to scouting the dealerships for a bargain. Private sellers who listed their vehicles in the previous year are often more motivated to sell and may be more flexible on price. 

Check listing dates and use this information during negotiations. When buying privately, consider obtaining a warranty and a roadworthy certificate from your seller, to protect your investment. 

Explore business vehicle options 

For business owners and ABN holders, the new year offers additional advantages. Purchasing early in the year can provide six months of tax benefits, and various financing options are also available, including no-deposit solutions. 

Avoid dealership finance traps 

Be cautious with in-house dealership finance, as these arrangements often come with hidden fees, limited lender options and inflexible terms. They typically require excellent credit scores and may include significant balloon payments. 

Consider working with a finance broker who can compare your options across multiple lenders and provide more flexible terms. 

Timing your purchase 

The first few weeks of the year are crucial for finding the best deals. Visit dealerships in January or February, specifically asking about run-out models. All vehicle types, from small cars to SUVs and trucks, are typically included in these clearance sales. 

Secure pre-approval first 

Getting finance pre-approval before starting your car search gives you a clear budget and a stronger negotiating position. This approach also simplifies the purchase process and helps avoid disappointment from overextending yourself financially.  If you need any assistance please contact SJ Mortgage Solutions on 0401227514