DMC Finance

Why Buying a Car Before EOFY Can Be a Smart Financial Move

As June 30 approaches, Australians across the country are not just rushing to benefit from end of financial year sales (EOFY) — they’re also racing to score a great deal on a new car. But beyond dealership discounts, there are several strategic reasons why buying a car before the end of the financial year (EOFY) could be a smart financial move.
 
Whether you’re a small business owner or simply in the market for an upgrade, here’s why now’s the time to consider financing a new vehicle.

1. Take Advantage of EOFY Dealer Sales

Car dealerships are eager to hit their annual sales targets before June 30, which means bigger discounts, better trade-in offers, and more incentives than any other time of year.
You might see:
  • Reduced drive-away prices
  • Bonus inclusions (extended warranties, free servicing)
  • Low- or zero-interest finance offers
  • Cashback or loyalty bonuses
These offers can significantly reduce the overall cost of your new car—and they won’t last past EOFY.

2. Instant Asset Write-Offs (for Business Buyers)

If you’re a business owner, you may be eligible to immediately write off the cost of a new vehicle under the instant asset write-off scheme. Depending on the vehicle’s use and the current ATO thresholds, this can result in significant tax deductions this financial year.
✔️ Tip: To claim, your vehicle must be purchased and ready for use by June 30. This means acting now to ensure delivery and paperwork are finalised in time.

3. Depreciation Benefits

Vehicles used for business purposes are typically subject to depreciation. The sooner you purchase your car, the sooner depreciation begins—which can translate into larger deductions sooner.
 
By securing your vehicle before EOFY, you’re also aligning your asset’s depreciation schedule with the financial year, making reporting and planning much easier.

4. Tax Deductions on Vehicle Expenses

Buying before EOFY allows you to:
  • Start claiming expenses immediately
  • Maximise deductions for this tax year
  • Improve your cash flow sooner
Just make sure your vehicle use meets the ATO’s business-use requirements, and keep clear records to support your claims.

Final Thoughts: Don’t Wait Until It’s Too Late

End of financial year is one of the best times to buy a car in Australia—but only if you act quickly. Dealer promotions disappear after June 30, and delays in paperwork or financing could mean missing out on tax benefits altogether.
 
If you’re considering a car purchase for personal or business use, speak with the team at DMC Finance today. We’ll help you:
  • Navigate your finance options
  • Understand your potential tax benefits
  • Get pre-approved fast
  • Settle before EOFY
Let’s make this EOFY a win for your wallet—and your wheels.
Ready to get started? Contact DMC Finance today.
DMC Finance provides general information only. This content does not take into account your individual objectives, financial situation or needs. Please speak to a qualified tax professional or financial advisor before making any decisions based on this information.