Do you know when is the right time to buy a vehicle? Generally when vehicle sales are slow is a good time because manufacturers and dealers may both subsidise margins. The new car you chose should be noticeably less expensive while sales are slow. Car dealers are more negotiable near the end of a month or financial year because they must meet quotas.
Exchange rates play a part in car cost also and it’s easy to forget that cars aren’t just foreign in origin, they are manufactured overseas. Imported car pricing may be effected by exchange rate fluctuations. The exchange rate can become continually more unfavourable for manufacturers over a particular period of time. Interest rates should be compared also and waiting for interest rates to fall seems like the right thing to do but. Unfortunately, contrary to popular opinion, lower interest rates don’t necessarily mean better pricing and finance interest rates are a minor factor in the final costs of your car.
Although your car finance interest rate may be lowered, your vehicle purchase might cost you a few thousand dollars more up front. Basically, the RBA lowers interest rates to promote buying so as spending increases, so do vehicle purchases.