By Alexi Falson, 18 Jul, 2022
New Car Price Guide: How to Get the Best Deal
AF By August 02, 2022
In the wake of growing demand and limited supply from almost every manufacturer, current market conditions mean that it’s difficult for Aussies to know exactly how to get the best deal on a new car.
In recent months, we’ve seen a perfect storm of economic uncertainty, supply chain constraints, and even production slowdowns on factory floors resulting in long waitlists for new car deliveries, atop rising prices.
Not all hope is lost, though.
As you’ll soon discover, there are some clever ways that you can skip the 12-month wait and find the best deal on a new car purchase.
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Why are New Car Prices Increasing?
Let’s first get an understanding of the problem. Currently, demand is outpacing supply for new vehicles which drives prices north.
This is the result of manufacturers being forced to slow down the production of new vehicles due to Covid-related problems, logistical problems from added shipping times, and finally, shortages of key components like semiconductors.
Macroeconomic conditions have also increased the cost price of raw materials that, in turn, have increased the manufacturing cost per vehicle.
Finally, there is of course the real-world impact of inflation on the goods we purchase, which has caused the price of nearly everything, including the MSRP of new cars, to rise.
How to Get the Best Deal On a New Car Purchase
Thankfully, there are still a number of ways that you can secure a better deal with the purchase of your next car; some of which are incredibly simple and even take the hassle out of the process as a whole.
While this might not be exactly what you want to hear, when demand outstrips supply, being flexible and open to manufacturers and models you might not have previously considered is a great way to get the best deal.
Eliminating brand loyalty and looking at your options within a certain segment, for example, the mid-size SUV market which is absolutely flooded with options from a huge number of manufacturers can help you find a great deal and skip the waitlist.
Find the Forgotten Gem in the Lineup
Within any given model range, a manufacturer splits the lineup into a number of different options, otherwise known as model variants.
There’s always an entry-level model designed for those that aren’t interested in any bells-and-whistles, a handful of mid-range options, and a range-topper that gains the best engine and the full equipment list.
One of the easiest ways to get the best deal on a new car is to look closely within the lineup, see which features you’re willing to sacrifice, and potentially save yourself thousands with another member of the model family.
One of the easiest ways to find the best price for your dream car is to take the time and shop around between dealerships.
Depending on the manufacturer or the popularity of that vehicle, it’s worth the investment of your time to see if a dealer is willing to take less commission to move stock from their floor and make room for newer models.
Look Out for Plate Clearances
Something the manufacturer won’t tell you is that quite often, year-on-year changes don’t mean much for certain models.
Unless there is a brand-new generation being introduced, you stand to benefit from a heap of potential savings by opting for last year’s model as dealerships offer a plate clearance or plate run-out special.
These are a way for dealerships to clear the floor and make room for the latest models, and means you’ll more often than not get a great deal on a model powered by the same engine, receives the same features, and looks identical to the latest model.
Strap On Your Negotiating Hat
When it comes to purchasing a new car, Australians are so averse to negotiating prices that they often skip the process altogether, which provides you with a great opportunity if you’re willing to invest the time.
Even if your negotiations break down, you’ll be better informed on the lowest-achievable price for that car, meaning you’ll be well-equipped in your next negotiation and know when you’re being taken for a ride.
During these negotiations, you might even find a way to organise some added warranty coverage, or even some extra features or equipment on your car.
If you need some help, we’ve put together a checklist for Australians buying a new car that can help you out in the process of getting the best deal.
Lean on a Car Buying Service
The final and most impactful way you can get the best deal on your dream car is to lean on the wide-sprawling network of a car buying service like OnlineAuto.
Not only can we save you the time and hassle of shopping around and countless negotiations, we can draw upon our wide range of connections within the landscape to find you the best possible price, and even help you skip those long wait times.
In the space of just a few hours, you’ll benefit from a multitude of quotes from our dealership network, and have the opportunity to ask our car-buying experts all of your burning questions in real-time.
We can even help organise a test drive directly to your home or workplace, and provide you with a quick and seamless delivery of your new car.
Request a Quote
To get a quote on your dream car, or to get in contact with one of our car-buying experts that can help guide you through the process, click here.