The expert guide to GETTING THE BEST CAR DEAL
Used or new? Electric or hybrid? The car market has changed – here’s how to get a good deal
Make no mistake, it’s a wild time in the car market. With the average waiting time for a new model now at 157 days (or even longer for some brands including Toyota), we’re also seeing used cars that are selling for thousands more than they cost new.
So if you’re looking for a new set of wheels (or want to get the best price for the car you already have) it’s important to be armed with the correct information. Kathryn Fisk from Whichcar answers your questions!
Why are no new cars available?
“Since the COVID-19 pandemic began, there have been parts shortages, shipping problems and sickness and isolation issues affecting manufacturers’ ability to keep their factories open,” Kathryn explains.
The car industry has suffered more than most, with a lot of cars delayed or sold without certain features.
“Market leader Toyota has struggled greatly with production issues at its various factories overseas, and so have other big-selling carmakers such as Ford, Isuzu Ute, Volkswagen and MG,” says Kathryn.
“Electric vehicle company Tesla is also going through tough times.”
When will things return to normal?
“Prices in the used car market will drop as new car supply increases. Now, car industry figures are saying that supply won’t greatly improve for another 12 to 18 months,” says Kathryn. “That, combined with rising
inflation, means it is unlikely used car prices will go down in the next year.”
Should I sell my car now or hold off?
“It depends on whether you have a second car to use if you do decide to sell, so you’re not left without a vehicle – or if you’ll be able to swap into a new or used car straight away,” says Kathryn.
She also notes that you need to consider if the car you have is hot property. If so, you’ll likely be able to flip it for a profit. Popular models right now include SUVS from Kia and Hyundai, Japanese and American utes, and common “gig economy” vehicles, such as vans and utes.
If I do sell my car, where can I get the best price?
“The most popular and reliable classifieds website is Carsales, which has an Instant Offer product for cars made in the past 10 years. Enter your car details and it will
show you a fixed-price offer. Then, if you want to go ahead, someone will come to inspect it and pay you the next day,” says Kathryn.
Using this kind of site means you will pay a fee, but Kathryn says you avoid the too-low offers, go-nowhere “is this still available?” messages and the lack of security you typically get on social media.
“Whichever way you choose, proceed with caution, take someone with you for back-up or to ask for a second opinion, and don’t be afraid to walk away if you’re not happy with the offer,” she advises.
Can I get a new car faster?
The ongoing supply issue has meant that most dealers are quickly selling just about every vehicle they can get their hands on. However, Kathryn says all is not lost. You can still increase your chances of nabbing a new car by being prepared to shop around and being flexible by choosing a base model over a top-of-the-range variant – or even being prepared to go for a different colour.
If I must buy a car, is it better to buy new or used?
Buyers looking for a used vehicle that’s only a couple of years old and with low kilometres are better off buying new at the cheaper end of the scale.
“Whether something is good value depends on how long you’re willing to wait for it versus purchasing a vehicle that is older, expensive and closer to the end of its warranty,” says Kathryn. “Like any new purchase, buying a car depends on your budget, how much you use it and what for, and how patient you can be.”
To find the best and most up-to-date info, news and reviews about cars on sale in Australia, visit whichcar.com.au