Finance Forecast - March 2009
Traditionally, the first quarter of each year is a great time to
buy a car in Australia. Buyers are spoilt for choice with end of
year sales, model runout sales and the release of new and improved
models. Add to this 2008's monumental credit crisis, the resulting
reshuffle in the financier population and belt tightening by
lenders and buyers alike, and current pricing is pretty much as
good as it gets.
In our recent article The Right Time to Buy a Car we
looked at the key factors that determine car pricing. Vehicle sales
levels, interest rates and exchange rates all affect the total cost
of a car purchase. New car sales have significantly slowed in the
last few months and it's old news that interest rates have been cut
dramatically at a federal level. It's the state of our currency
that isn't so straightforward for car buyers.
If you're in the import business, you're probably already
feeling the pain of our dollar's reduced value - not just against
the US dollar, but against the Yen and other major currencies too.
As a car buyer, this change in currency is about to hit the
recommended retail price of your next vehicle. Several major
manufacturers have already announced price rises in response to our
weakened currency, and others are sure to follow.
In addition to checking out our how-to advice for
buying a car in today's credit environment, take a look at
where your preferred car is coming from and assess the exchange
rate pressure. Now could be your best time to buy, especially if
you're considering an imported vehicle.
Try our repayments calculator, get a quick quote, or
secure pre-approval online - be prepared to
buy smart. For more information on finance, or assistance finding
your preferred vehicle at the right price, call us on
1300 STRATTON (1300 787 288) or
contact your finance consultant directly.