The end of financial year sales can be a tempting time to purchase products, but before you get caught up in the sale frenzy, CHOICE experts recommend taking the time to do your research to determine whether you're getting a good deal.
"The end of financial year sales could be a great opportunity to snag a new appliance for your home, but with Black Friday sales also right around the corner, it can be hard to know whether or not the EOFY sales are where you can get the most bang for your buck," says CHOICE Editorial Director, Mark Serrels.
"So, are the end of financial year sales worth it? Our experts say it depends on what you buy. TVs, for example, are great appliances to purchase or update during the EOFY sales. If you have an old plasma that's chewing away at your energy bill, now is a good time to buy a new one," says Serrels.
"With 2025 models of TVs now arriving on retail shelves, it's time for the annual clearance of last year's TVs, meaning you can usually get a great deal on a 2024 TV. Make sure the salesperson knows that the TV they're selling you may be the greatest, but it's not the latest - and you can usually nab a bargain," says Serrels.
CHOICE's top tips on how to shop smart in the EOFY sales:
1. Stick to the basics
"If you're trying to save money our experts recommend you stick to the basics. Newer appliances usually cost more due to their high-tech features, so unless you're going to use all the fancy functions, it isn't worth it. Decide on the features that are your 'must haves' and the ones that are nice but not worth the hefty price tag," says Serrels.
2. Buy an older model
"Getting your hands on the latest and greatest appliances may not be that wallet friendly. We recommend checking out older models that have been replaced by the latest version. They may be almost identical, and are often available at a discounted price," says Serrels.
3. Do your research
"Our testing often finds expensive products aren't always the best, and cheaper products sometimes perform just as well, or even better than, the pricier big brands. We recommend checking out reviews beforehand as you may come across a high-performing, cheaper product that you may have not considered before," says Serrels.
4. Ask for discounts
"Some retailers offer online price-matching, but we recommend going directly instore and asking a salesperson if there are any discounts. If you've done your research and feel confident to do some haggling, start by asking 'what's the best price you can do?' and go from there," says Serrels.
5. Be wary of extended warranties
"When you purchase a product you'll sometimes get asked if you'd like to buy an extended warranty. However, extended warranties are often no more than a sneaky sales tactic. Ask the salesperson what guarantees the extended warranty would provide beyond the Australian consumer law before purchasing," says Serrels.
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