Are You Giving The Gift Of Wheels This Christmas?

Are You Giving The Gift Of Wheels This Christmas?

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Christmas Car

Among my favorite automotive commercials are those where a shopper purchases a vehicle and presents it to a loved one for Christmas. A car key for a late model Lexus IS is hidden inside of a tiny gift wrapped box, a new Audi A4 is found hiding in the garage, or a Cadillac CTS with a big red bow and ribbon is driven up to the front of a house to the shock and delight of the gift recipient. Maybe this Christmas you’ll be driving a new set of wheels thanks to the generosity of your husband or wife?

A new car for Christmas isn’t something that only Hollywood celebrities or Wall Street honchos give to their significant others. Thanks to some very attractive year end financing options, you can afford a new or slightly used car and make it a present that will always be remembered come Christmas morn. Are you interested in playing Santa Claus this year? Although Christmas is just days away, it isn’t too late to buy a car and have the Jolly Old Elf himself deliver it to your recipient!

When shopping for a car this December, there is an important thing for you to keep in mind: mostly every single automaker is trying to increase sales before the year ends. If possible, automakers want to show a year to year increase or, at the very least, stem their losses by moving out inventory before January 1st. For the wise consumer this means that December is a buyer’s market, particularly for slower selling or older models. Even deals on popular cars can be had with a little work on your part.

Just in time for Christmas you will notice the following special offers on select vehicles:

Zero percent financing for as long six years. In some cases you won’t have to put any money down other than taxes, tag and title. Why pay cash for a car when you can have the automaker finance it for you? Let your money earn 5% interest with a bank certificate of deposit and get a vehicle with interest free financing.

Thousands of dollars off of the sticker price. That pick up truck your husband has his eye on has been reduced by $6000 or more. Dodge, GMC/Chevrolet, Ford, Nissan and Toyota are scrambling to move slow selling full sized trucks and are offering incentives to boost their sales numbers. Let their price war work to your advantage!

Extraordinary seasonal lease deals. Perhaps you really don’t want to buy a new car as the thought of keeping a vehicle for more than a few years has little appeal for you. Leasing allows you to get a new car and drive it for two or three years and then turn it in for a new model at lease end. Lease terms are especially favorable this time of year as automakers offer incentives to move bloated inventory. Leases are counted as “sales” therefore, in the game of selling the most vehicles before the new year ball drops, you can make a deal that works to your advantage.

Save money on a used car too. Maybe your son or daughter is going away to college next fall and your student will need a car. Perhaps buying a new car is a budget buster but a used car is not. If you have the funds to pay cash for your purchase, then strike the best deal possible. If you need to take out an auto loan, then run the numbers to find the best financing available. Keep this in mind — some lending institutions are eager to provide financing as the year draws to a close too. Financing rates for a used vehicle vary as it will depend on the age, make/model, mileage, your credit, and amount borrowed. Shopping around for a loan can knock several points off of your loan rate, saving your hundreds of dollars.

Giving the gift of wheels this Christmas can be within your reach. Use seasonal incentives and discounts to your advantage and you just may come away with the year’s best deal!

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Categories: Consumer Financing

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