Coronavirus has presented strange and challenging times for everyone with constraints on our lives set to last for some time to come. While many businesses have been forced to close, many others have been operating in a ‘business not quite as usual’ manner, but still operating. Gratefully, Jade Car Loans is one that is still operating and as we have pivoted to a combination of work from home and in-office scenario we have continued to deliver our full range of services.
The car sales sector has also been operational throughout the COVID-19 crisis with both new and used dealers ready to take your order. If you’re still in lockdown, auctions have been forced to move online, so you won’t miss out there.
With the end of financial year (EOFY) sales on the horizon and in many cases likely to be brought forward, now could be the time to get a bargain on a new car. Dealers will be keen to move stock, oil prices are down, interest rates are down, we’re all ready to get back on the road and start moving around so what better way to lift our spirits than to do it in a new car loan. A new car to signal the start of a new era.
For businesses, remember the Instant Asset Write-Off which is part of the Federal Government COVID-19 stimulus package is still on the table. Investing in a new vehicle now might be a great boost to your balance sheet come 30 June.
With Holden recently announcing their exit from the Australian market, we know many Holden fans are keen to get their hands on the steering wheel of one of the last vehicle to roll out of the factory. If that’s you, then don’t wait too long or you will likely miss out.
Sourcing a Car Bargain
Trade with some overseas car manufacturers may be impacted for the near future due to shutdowns in manufacturing plants in many countries. But our industry research suggests that many Australian importers and dealers have good stock of recent models that they need to shift. That usually means very attractive discounted prices and plenty of add-on offers.
To comply with physical distancing rules, many dealers will be quite prepared to bring a vehicle to your home to inspect. So don’t think if you can’t get out you can’t get a new car. Contact a dealer in your local area and discuss the options over the phone if you think heading to a car yard you may risk a fine for not complying with your state’s lockdown laws.
We did a quick browse of some new car manufacturer and dealer websites and found great offers, here’s a few to whet your appetite:-
- Holden are offering the Holden Final Clearance as of mid-April 2020. The sale is across a range of Holden models at participating dealerships. Check out the details at holden.com.au/offers
- Ford are displaying details of 2020 passenger car models and great offers on commercial vehicles, SUVs and passenger cars. See what’s on offer at https://www.ford.com.au/latest-offers/national
- Peugeot is offering a great driveaway price on the MY19 3008 SUV Allure.
- Audi is expecting a number of new models to arrive in 2020 so now may be time to register your interest and talk to us about pre-approved finance so you’re ready to take delivery when your vehicle arrives.
The used car market is always strong and dealers, auctions and private sellers have plenty of listings for you to consider. One of Australia’s leading car auction companies, Pickles, has online auctions happening across the country every week. Check out what’s coming up in state www.pickles.com.au
Car Loan Bargains
As part of monetary policy measures to combat the economic impact, the Reserve Bank of Australia further reduced interest rates. These type of announcements might sound like highbrow financial statements and in many cases you’re correct.
The bottom line for consumers and businesses – what it means for you is that interest rates are at historic lows. How long they will stay there is an unknown at this point and some lenders are tightening guidelines for some borrower categories.
So if you’re looking at buying a new car, the time for securing a great loan couldn’t be better and never has it been more important to use a car finance broker rather than DIY finance.
To discuss a cheap car loan, contact us on 1300 000 003 to speak with a Jade Car Loans consultant.
DISCLAIMER:THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.