Industry officials have said that now could be a good time for Australians to buy a newer vehicle, with knock down prices and great deals on finance.

Buying a newer vehicle can be a very expensive affair, and in the current financial climate it can be particularly difficult to afford a more reliable vehicle. However, one report has suggested that for those willing to opt for a 2008 vehicle rather than opting for a far more expensive brand new vehicle this year, there could be some huge discounts available as well as some great deals on car finance.
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In late August 2008 Australia’s First Pay As You Drive (PAYD) insurance policy was launched by Real Insurance, and on 21 October 2008 it won Best General Insurance Product at the Australian Banking and Finance Magazine Telstra Insurance awards.

This shows just how much the market needed a product of its type and it’s a certainty that more insurers will launch similar products over the coming year.

Real Insurance Pay As You Drive comprehensive car insurance is suited to people who drive less than average, and is available only to drivers over the age of 25. If you drive less than the average for people with the same insurance profile as you then you will pay less than for traditional car insurance. Australians drive about 15,000 kilometres a year on average, with around 23,000 km/year for regional areas and only 6,000 in city areas. If you drive significantly less than the average you can save up to 60% of your insurance premiums. (more…)