Consumers Given Strong Incentive To Buy New Cars Now

Consumers Given Strong Incentive To Buy New Cars Now


It certainly is a buyer’s market for consumers who want to purchase a new vehicle. With auto sales down year over year compared to last year, many automakers are offering incentives in a bid to move inventory.

Dodge ChallengerNot every model is a slow seller. In fact, if you want to purchase a 2008 Dodge Challenger (pictured), you are out of luck. All of the inventory for this hot, specialty model is spoken for.

So, if you are looking for a new ride what deals are there available to you? Rather than looking at specific incentives (which change frequently) let’s take a look at specific segments to help you the best deals.

Full sized pick up trucks — Across the board, every truck maker is offering incentives. These big, fuel thirsty vehicles are having a difficult time selling, making strong discounts a fact of life. Look for $3-5000 off of most models with discounts approaching $10,000 for some loaded quad cabs.

Sport Utility Vehicles (SUVs) — The larger the SUV, the more likely sales have plummeted. While some automakers are finally cutting production, bloated inventories means that generous rebates and/or financing options are now available to you.

Larger Cars — Again, fuel economy numbers are determining many purchases, slowing down the sale of the largest cars. Big discounts on the Buick Lucerne have priced this car in the mid-size car segment, offering one of the best deals for any large car today.

Midsize Sedans — The most crowded segment in all of autodom as pertaining to the number of competing models, the mid-size car category offers a mixed bag when it comes to deals. Older and slow selling models offer the best deals while the Chevrolet Malibu is selling strong and at full price. Volkswagen, Dodge, Suzuki, and Hyundai probably have some of the best incentives currently available.

Crossovers — Not a car and not an SUV, crossovers are one of the hottest categories today. Offering the room of a SUV with the gas mileage of a sedan, many consumers who need the room are taking a close look at the Ford Edge, Dodge Journey, and competing models to replace their current cars. Are you looking for a good deal on a slow seller? Then consider the Taurus X as one option.

Most small cars are not carrying strong incentives simply because demand for fuel efficient vehicles is strong. Luxury makes such as Mercedes are doing very well, but there are some brands whose inventory is bloated signaling that incentives are available. Some minivans carry incentives too, possibly offering you thousands of dollars off of the sticker price.

When it comes to striking a deal, your choice may be between taking a rebate or choosing cut-rate financing. In almost all cases you would be better off taking the rebate and seeking independent financing elsewhere.


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About Author

Matthew C. Keegan

Matt Keegan is a freelance writer and editor as well as publisher of "Matt's Musings", his personal blog. Matt covers campus, consumer, business and financial topics on various websites and blogs, and has been published in the "Houston Chronicle", "Sam's Club Magazine" and "Wisconsin Golfer".