A good time to buy

If you are making a big purchase, you may be able to save with some good timing, writes

TIMING is crucial for big ticket purchases such as home appliances, holidays and cars, to prevent an unexpectedly big bite being taken out of your household budget.

A flashy new TV costing $3000 equates to almost $60 a week of your annual household income, while a $10,000 trip costs almost $200 a week.

Product specialists say getting the timing right on purchases can potentially save hundreds of dollars, and for pay LMI again with the new lender if your loan to value ratio remains above 80 per cent.”

LMI provider Genworth’s online calculator predicts a loan on a $550,000 property with a 10 per cent deposit of $55,000 will attract LMI of just over $9500. This can be rolled several items the right time is about now.

HOLIDAYS

Madeleine Clow-Suares, general manager of Club Med ANZ, said May was one of the cheapest months to travel, with prices cut by 10-15 per cent.

“The best time to book is when sales open for a new season, which will vary depending on the destination and the company,” Ms ClowSaures said. into a mortgage, so may mean just $50 extra a month in repayments.

Borrowers should always seek advice before choosing LMI, advised a Genworth spokesperson.

“The cost of LMI varies depending on a number of factors, including the amount of the loan, the level of your

“Booking ahead can save you up to 30 per cent on your total travel costs.”

Phil Hoffmann Travel managing director Phil Hoffmann said now was a good time for international travel, with airfares to Europe and the US costing as little as $1100 – less than half of what they were 30 years ago.

“We have so much more competition out of Australia ,” he said.

Mr Hoffmann said off-peak holiday periods were always cheaper, and consumers should consider buying as much as possible before they left home.

HOME APPLIANCES Hisense Australia product equity in the property, whether you are an investor or first homebuyer and the level of risk associated with the particular loan product or postcode (where) you are considering buying,” the spokesperson said. “Each case is different so consult with your home loan provider.” specialist Chris Mayer said May-June was the optimal time to grab a good TV deal.

“When May comes around, the retailers need to make floor space for the new, incoming models and they do so by often selling last year’s range at discounted prices,” he said.

Mr Mayer said June was a good time to buy things such as fridges and washing machines amid heavy end-of-financialyear discounts.

“With new technology comes new advances in energy efficiency and this can lead to even more savings in your hip pocket,” he said.

CARS

Pavel Meck, product planning manager at MG Motor Australia, said the end of financial year had long been a time of heavy discounts by car manufacturers.

“If you’re planning on buying a new car this year, test drive early to ensure that when the time comes, you’ve narrowed it down to a few key models in your consideration set,” he said.

Manufacturers updating or refreshing models also can mean cheaper buying opportunities.

Motoring groups say November-December is another good time to buy as dealers try to offload vehicles before they become “last year’s model”.