3 Tips For Navigating The Car Shortage In Australia

Most of us don’t exactly know how to function during a shortage. Think about it: we’ve been lucky enough to not have experienced a shortage of almost anything since the late 1940s, so why wouldn’t we be a little bit on edge?

Especially if the thing we’re short of is something as essential as a vehicle. And too bad for us, that’s the exact shortage we’re going through. So, what’s a humble Australian to do when they need to buy a car in these (we’ll say it) unprecedented times? Here are the top 3 tips for navigating Australia’s car shortage, brought to you by the expert auto financiers at Fingo.

1. Be Flexible

It’s easier said than done, because lots of us know exactly what we want and won’t settle for anything else – but if you’re willing to be flexible, we suggest you be flexible. Plenty of the most popular car manufacturers in Australia, including Toyota, Honda, Volkswagen, Audi and Mercedes Benz, are all experiencing the dreaded computer chip shortage and are likely to not be producing cars in full swing until mid-2022 if not later.

However, some other manufacturers weren’t affected as badly. Take Jeep and Dodge, for example, who seem to have been affected less than the other makes. If you’re open to the idea of ‘having fun out there’ as the late 2000s Jeep Cherokee campaign used to go, you might have more luck than looking for the equivalent of the Toyota Prado.

2. Get a lease

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 a car instead of buying it, which would be a bit of a pain if indeed you weren’t in love with the car. Leasing costs less per month than paying off a car loan, and you can return it after the two or three-year lease period, which is when the new and used car market is expected to cool down.

3. Talk to an expert car broker

The final and most important tip we can give you is to consult a car broker. In these difficult times for car-buying, you want to make sure you consult an expert who has access to resources which you don’t have. This way, you’ll find the best buy or novated lease available.

Fingo are Australia’s leading team for car brokerage services, finance and more. They can help you purchase, trade-in or sell your car while avoiding the massive price increase due to the worldwide car shortage. Fingo work for you – they’re a broker, not a dealer, and focus on getting you the best deal possible. Get in touch with the specialists at Fingo and step into your new ride sooner.