The motor vehicle market is extensive, and even within one manufacturer’s range, there can be multiple variants of each model. Differentiating between each car can be challenging and confusing to buyers, especially when considering business car loan rates. There are many different strategies and processes that people use to decide which car they are going to buy. Some go for price, some for function, some stay loyal to a trusted brand, and some put their trust in the judges and purchase vehicles that have received awards.
Car makers appear to highly covet their awards, using the ‘car of the year’ badges in their advertising to attract buyers. Why wouldn’t someone want to own the ‘car of the year’? At Jade Car Loans we know that many people select a car based on the awards and reviews from the experts.
So what should you know about car awards before you make that all-important purchase decision, especially if you're considering ABN car finance? Who are the judges? What are the criteria? What cars are included? Is it a transparent process? Are all cars in a category considered? Yes, there are a lot of issues to consider.
Jade Car Loans has taken at least a shallow dive if not a deep dive, into the somewhat mysterious world of car awards to provide our customers with a level of enlightenment.
Car Awards Programs
It doesn’t take much of a search to reveal that there are several different car awards programs. To be clear, car awards are different from top selling cars. The top selling lists that are routinely released by the automotive industry are based on actual sales of new cars in different categories. Car awards are judged by a panel and according to the process and criteria determined by the organisation running the awards program. So, when considering a car loan for business, it's essential to note that a highly awarded car may not necessarily be a top seller and vice versa.
In Australia, some of the more well-known car awards programs are run by Drive, Wheels magazine and motoring organisation programs such as Australia’s Best Cars run by RACQ. Globally, there are many more including the World Car Awards which is judged by international automotive journalists representing 24 countries.
Considerations
Some of the important issues to consider regarding car awards are:-
- Judging criteria: On what basis are the cars evaluated and judged is critical to your evaluation as to whether your car selection criteria matches that of the award.
- Judges: Checking out who was involved in selecting the winners may also provide some enlightenment as to whether or not you can relate to the judges’ decision.
- Who entered: Look into whether entry is a voluntary decision or compulsory for all new cars released onto the Australian market in that year. Do car makers have to nominate their vehicles for judging? This is very important because which cars weren’t included may be relevant to you.
- Region: The World Car of the year may not be relevant in Australia as the cars judged may be in specs available on local models and some of the entries may not be available in this country.
When deciding whether or not to buy a ‘car of the year’ it may be wise to stay objective and weigh up the judges’ decisions based on your motoring requirements. You may have a different set of criteria for making your purchase decisions.
Current Cars of the Year
And the winner is…..we’ve collated a few of the current award holders for your consideration.
Drive Car of the Year
The motoring experts selected by Drive judge cars across multiple categories and you can view the full list of finalists and winners at https://www.drive.com.au/drive-car-of-the-year. Here’s a selection of a few category winners for 2020: -
- Best City Car: Golf Polo GTI
- Best Small Car: Mazda 3 G25 GT Sedan
- Best Medium Luxury Car: BMW 330i
- Best Medium SUV: Toyota RAV4 Hybrid GX 2WD
- Best Large Luxury SUV: BMW X5 xDrive 30d
- Best Dual Cab Ute: Ford Ranger XLS
Wheels Car of the Year
In 2018 and 2019 Volvo took out the Wheels Car of the Year award. Read all the details on how this award is judged and who are the judges at https://www.whichcar.com.au/wheels/events/coty
Finalists for 2020: Mazda 3, Mercedes-Benz EQC, Porsche 992 911, Tesla Model 3 and the Toyota RAV 4 with the winner decided as Mercedes-Benz EQC.
Australia’s Best Cars – RACQ
Find out previous winners and how this award is judged at https://www.racq.com.au/cars-and-driving/cars/car-reviews/australias-best-cars
These awards also have numerous categories and 2019 winners include BMW 330i, Mazda CX-8 Sport, Toyota HiLux CX5 and like other awards, the Toyota RAV 4 also won in its category.
Finance to Buy a Car of the Year
You’ll have plenty of considerations if you want to assess your ‘car of the year’ to purchase but when it comes to finance, the decision is easy – just call Jade Car Loans. If you're a sole trader, ask about our sole trader car loan options. One of our consultants will arrange your loan. Good news – we don’t discriminate. Our cheap car loans with our better interest rate guarantee are available for all cars, regardless of whether they have received a gong or not.
To compare your possible monthly repayments on various car of the year winners, simply use our business car loan calculator. Or contact Jade for a quick quote.
For a cheap car loan quote on a car of the year, contact Jade Car Loans and discuss your options with one of our consultants at 1300 000 003
DISCLAIMER: THE INFORMATION IN OUR ARTICLES IS PROVIDED FOR GENERAL INFORMATION PURPOSES AND IN NO WAY IS INTENDED AS THE SOLE SOURCE TO MAKE FINANCIAL DECISIONS OR AS ADVICE IN REGARD TO FINANCIAL INFORMATION. INDIVIDUALS ARE RECOMMENDED TO REFER TO THEIR FINANCIAL ADVISOR OR SEEK ADDITIONAL INDEPENDENT ADVICE IF THEY CONSIDER THEY REQUIRE SO. THE INFORMATION PRESENTED IN REGARD TO GOODS HAS BEEN SOURCED FROM MANUFACTURER AND SUPPLIER SOURCES AND IN REGARD TO GOVERNMENT AND ATO POLICIES AND PROGRAMS FROM RELIABLE SOURCES. NO LIABILITY IS ACCEPTED IF ERRORS HAVE BEEN MADE IN PRESENTING OR INTERPRETING THE INFORMATION AS PRESENTED.
