Cars

New cars

• Buy at the end of the month That’s when dealers need to hit quotas. Or better still, at the end of each quarter (March, June, September and December). Tell them you’ve secured financing elsewhere; they’ll counteroffer and you’ll go with the best deal. Also, buy just before the start of the tax year for a quick refund. Buying floor stock and superseded models are great ways of negotiating a better deal.

• Do your homework Automotive clubs recommend researching the car you want, to determine market value. Make sure you read road-test reviews on motoring websites and stick to your budget. Always check the fine print for dealer delivery costs, and avoid unwanted optional extras and extended-warranty charges. Motoring clubs have good information on annual running costs.

•Lease or buy? Leasing can help lower your tax bill and avoids the falling value of a new car. But it’s a tricky calculation and depends on your personal situation. Visit www.carsguide.news.com.au for more information. Compare lease repayments versus loan repayments at www.bloomberg.com.au.

Used cars

• Look for older models Depreciation hits hardest the first three years of ownership. Shop in late November to December, when used-car lots are quieter. Do your research here, too – www.redbook.com.au is the classic site for price guides. www.cheapskates.com.au suggests buying cars that are one year old, when they’re cheaper but still under warranty and most of the problems have been ironed out.