Car sales: How to get a good deal at the EOFY

With international travel still restricted, now may be the perfect time to hit the road and discover what Australia has to offer. 

If you need a new set of wheels to get you there, your timing couldn't be better with the 2021 EOFY car sales on right now! 

What are EOFY car sales? 

EOFY is an acronym for “End of Financial Year”. While that may sound like a term you'd only hear in a bank or accounting firm, EOFY is something every Aussie consumer should know about. 

Why? Because it’s a time when retailers across the country have big sales, including car dealerships. 

Is EOFY the best time to buy a car? 

The financial year ends on June 30, so EOFY car sales tend to start a few weeks leading up to it. It’s a good time to buy as car dealers are more likely to negotiate prices with you, in order to meet quotas and enjoy a yearly bonus. 

In some cases, you can knock off thousands, if not tens of thousands of dollars from the original car price. Remember you need to sign the sales contract before July 1 to get the sales price.  

How do I save money when buying on EOFY sales? 

To help score a deal at the EOFY car sales, start saving. Here are some tips:

  • Push for a lower price: Don’t be afraid of haggling a little. Keep in mind that the car salesman wants you to drive away in a vehicle before the end of the month. So test the waters and don’t sign the dotted line before you’re happy with a car price you can afford. 
  • Find a competitive rate on your car loanIf you are looking for a car loan, shop around a bit. While the car dealership may offer you some financing options, independent lenders may have more competitive rates. 
  • Get pre-approval if you can: If you apply for a car loan and are pre-approved prior to buying your car, this might give you more of an edge when it comes to bargaining a car down to your price range.   
  • Pick features that suit you: Avoid the trap of purchasing a car with all the bells and whistles just because it looks fancy. The more features you have on the car, the higher the price. So consider which ones you actually need and choose the car accordingly.  
  • Go through the terms and conditions closely: It never hurts to go through the details with a fine tooth comb, especially when some car dealers may leave some conditions out when advertising the sale price. 
  • Check out cost of delivery: Remember, this is an additional cost on top of the purchase price of the vehicle, so don’t get caught out paying too much in delivery.  

IMPORTANT NOTE: Many Aussie car dealerships are experiencing major delays when it comes to delivering new vehicles due to an international shortage of semiconductor chips. So it's crucial to remember, this might mean it could be months until you actually receive your set of fresh wheels. 

Want to check out some killer car loan options on the market? Take a peek below or head over to our car loans comparison table.

Compare Car Loans 2021 - last updated 13 August 2022

Search promoted car loans below or do a full Mozo database search . Advertiser disclosure
  • New Car Loan - Special

    Home Owner Discount, Including Demo, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    5.69% p.a.
    6.24% p.a.based on $30,000
    over 5 years

    Eligible for homeowners only. Low fixed car loan rate for purchasing new and demo vehicles from dealers. There is no monthly or ongoing fees and early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 5.69% would cost $34,940.17 including fees.

    Details
  • Car Loan

    Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.25% p.a.
    6.87% p.a.based on $30,000
    over 5 years

    Available for all New and Used cars up to 7 years. A quick and easy, 100% online application with loans up to $75,000. No printing. No paper. No fuss. No monthly account keeping fees, no exit fees and no early repayment fees.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.25% would cost $35,258.67 including fees.

    Details
  • Clean Green Car Loan

    Home Owner Discount, New or Used, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    4.99% p.a.
    5.54% p.a.based on $30,000
    over 5 years

    No monthly or ongoing fees. Get a 0.70% discount on your car loan interest rate if you buy a qualifying green car. Winner of Mozo's Experts Choice Green Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 4.99% would cost $34,359.97 including fees.

    Details
  • Used Car Loan

    Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    7.99% p.a.
    8.60% p.a.based on $30,000
    over 5 years

    Enjoy a quick application process and no monthly fees on NRMA used car loans. Finance also available motorcycles, caravans and motorhomes. Low fixed interest rates with terms of up to seven years. Plus, NRMA Blue Member benefits apply so you could enjoy even lower rates as an NRMA Member**.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 7.99% would cost $36,987.90 including fees.

    Details
  • Used Car Loan

    Home Owner Discount, Dealer Only, Up to 5 years old, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.49% p.a.
    7.04% p.a.based on $30,000
    over 5 years

    Eligible for homeowners only. Low fixed car loan rate for purchasing new and demo vehicles from dealers. There is no monthly or ongoing fees and early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 6.49% would cost $35,610.64 including fees.

    Details
  • Secured Car Loan

    Fixed

    Interest rate
    comparison rate
    Monthly repayment
    7.09% p.a.to 14.99% p.a.
    7.93% p.a.to 13.88% p.a.based on $30,000
    over 5 years

    Low personalised rates, ideal for borrowers with excellent credit. No monthly account fees, no early payout fees, so you can pay off your loan sooner. Borrow between $5,000 and $79,000. Easy online application, receive a response in minutes and approved funds within 24-48 hours!

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 7.09% would cost $36,323.64 including fees.

    Details

^See information about the Mozo Experts Choice Personal Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.