There’s always a lot happening in the motor vehicle market with new models being released both internationally and locally regularly. As major lenders in the car finance sector, we like to stay across the latest and in this article, we’re highlighting a few news items that our team has found of interest in the past week. The information is aimed at those looking to buy a new car but can’t quite decide on which car. Hopefully, these resources will assist in your selection and of course, we have business car loan repayment calculators readily available at all times to assist in getting quick loan repayment estimates on any vehicle you are interested in.
As we approach the EOFY sale time, now could be an ideal time to start considering which vehicle you would like to purchase and start getting your finance and purchasing plans sorted.
What’s selling best?
When it’s time to buy, many people like to know the most popular vehicles – what’s selling best. While popularity is not always an indication of what are the best cars, it is an indicator of what other buyers are being drawn towards and possibly worth further investigation. To assist buyers, sales figures on new vehicles are regularly collated and released by the industry.
Sales figures for new vehicles for March 2021 show a 22% overall increase in the same period in 2020. Passenger car sales are down while SUV and light commercials are up. This spike in car sales has been noted from many angles and may be attributed to the fallout from the coronavirus pandemic. Travel plans have been halted, lockdowns have limited the ability for many spending options and many have opted to spend money on a new car. Private buyers may be looking to drive holidays rather than the usual flying options while business buyers have been incentivised by stimulus measures and tax breaks.
The Federal Chamber of Automotive Industries (FCAI) released the figures and included a comment that sales could have been even higher if some manufacturers had not been hindered by COVID-19 impacts in the supply chain and getting vehicles into the Australian market. More information here.
The top selling brands in March 2021 were Toyota, Mazda, Hyundai, Mitsubishi and Ford. SUVs out-sold passenger cars by more than double the number of units. Clearly showing how popular the SUV has become in the Australian market. The top selling models, in order, were Toyota Hilux, Ford Ranger and Toyota RAV4.
NEW Concept for Comparing Cars to Buy
We were very interested to come across a new concept launched by the Car Expert team to assist car buyers in seeing and comparing a whole range of different makes and models under one roof, without salespeople. Just like Jade brings a range of finance options and lenders for our customers, many of which you may not have heard of, have access to or considered, this Car Expert Experience Centre has a similar approach.
The Experience Centre concept has attracted so much attention it was featured on a national news program. Manned by a team of car experts, not salespeople, the Centre focuses on providing buyers with the opportunity to easily check out a range of vehicles with the assistance of experts who can point out the features of each vehicle but without the sales pitch. You can’t buy a car there, so the pressure is off from the sales point of view. Allows buyers to check out many vehicles in one place and receive an impartial presentation. Saves all that time visiting multiple dealerships and going through the required briefing and spiel from the salesperson. Plus it may put cars you would never think of on your radar.
In the days of the major motor shows, buyers had this opportunity each year. There are smaller car shows hosted around the country, particularly for 4WD and adventure models, but not on the scale of the old Sydney International Motor Show. This new concept appears to bring a motor show vibe and approach, though on a smaller scale and with the ability for customers to get up close with the vehicles.
At the moment, the Experience Centre is only operating in one Sydney location and for a limited time, but word has it, the company behind this great concept has plans to host it in other locations. Hopefully, for buyers, it will be readily available on an ongoing basis.
The Car Expert Experience Centre is at Warringah Mall Brookvale on Sydney’s Northern Beaches running from 27 March through to 22 June 2021 and includes a wide range of family, adventure, urban and electric vehicles.
Car Loan Interest Rates Update
The RBA kept the official interest rate on hold at their April meeting so the historic interest rate climate is set to continue. View our cheap business car loan interest rates on all our car loan products, to receive comparisons of the best finance options for you. Get in contact with Jade Car Loans today to see how we can assist with your financing needs.
To discuss your requirements contact 1300 000 003
DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.