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When Can You Expect The Australian Car Market To Return To Normal?

We can’t predict the future and there’s been a fair bit of speculation around when the car market will settle and return to normal. But in terms of how long the used car boom in Australia is going to last for, the answer is: for as long as there’s a component shortage, and then a little while longer after that. Many experts are saying that the used car boom will last until mid-2022; some are less optimistic, saying the beginning of 2023.

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Thinking About Trading In Your Car? Don’t Wait Too Long!

Used cars are booming in Australia right now, meaning that one of your most valuable assets has no doubt risen in price. It’s all due to the shortage of semiconductor chips and the consequent lack of new cars being built worldwide. If you’re looking to trade your car in, there’s actually a chance you could turn a profit on it.

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Here’s Why The Used Car Market Is Booming – Fingo Finance

The used car market is booming in Australia and all over the world. What’s responsible for it? A perfect storm of a component shortage, lack of new cars being built and waiting times for certain models going through the roof. So, if you’re thinking about buying a used car or selling a used car, here’s why the used car market is booming.

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There’s No Better Time To Sell Your Used Car Than Right Now

In many cases, we’re seeing cars that were purchased before the pandemic being sold for more than their original purchase price, even after a year of ownership. Basically, there’s a chance you can actually turn a profit on a car even after you’ve driven it around for the past year or two years.

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3 Tips For Navigating The Car Shortage In Australia

Getting a novated lease might be the best way to navigate the car shortage in Australia. Considering the eye-watering prices of used cars which have gone up by 30-50%, and are in some cases the same price as their new equivalents, we can understand why you’ve given up looking to buy a car. So, why not lease it? This way, you get to borrow something that’s fine instead of buying it, which would be a bit of a pain if indeed you weren’t in love with the car.

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How Long Will The New Car Shortage Go On For?

Most experts are predicting that the best case scenario will be mid 2022, and the worst case will be early 2023. But really, it depends on for how long there’s a component shortage, and then a little while longer after that while we wait for car manufacturers to finish building new cars with said components.

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Why Is There A Shortage Of New Cars In Australia?

COVID-19 required the world to use social distancing methods to stop the spread of the virus. This then forced many car factories around the world to shut for a period, meaning there were barely any new cars being produced for a long time. Since then, the waiting time on new vehicles has increased tenfold, turning people to the used car market.

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Letter from Kim 2021

To the fingo family   We’ve managed to prove for a second year in a row that we really can achieve anything if we give it our all. 2021 came with compounded challenges from the year before in the form of ever-repeating lockdowns, as well as new ones that came as a surprise – such … Continued

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What Happens to Your Novated Lease When You Change Jobs

Novated leases are an awesome way to get a new vehicle. There’s a ton of perks to novated leases, including tax deductible income, saving on vehicle running and maintenance costs and no deposits or up-front costs.

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Taxbreak or Novated Lease

Novated leases and Taxbreak are two things that Fingo specialise in. They help you choose the best option for you, and get you the best car for the best deal. Whether you’re buying, selling, trading or leasing a car, the experts at Fingo can help you out massively.

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Residual Balloon Payment Explained

The balloon payment is the amount of money that you owe after your novated lease or car loan has ended. It’s calculated as a percentage of the finance amount required to purchase the car.

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How to Test Drive a Vehicle

Testing driving a new vehicle, when done correctly, is a lot of fun. You’re experiencing a completely new car that could possibly be yours, if you fancy it enough. There’s a bit of an art to test driving a car, especially if it’s a used one.

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