GM and Chrysler May Cut Back on Incentives Later This Year
Now that GM and Chrysler are going through bankruptcy, they're planning to cut back on a lot of spending, including up to $3,000 in incentives per vehicle.
GM and Chrysler currently have one of the highest incentives spending in the industry.
GM plans to shut down 13 plants by 2010. Chrysler will also be closing several plants.
This will reduce the number of vehicles produced giving GM and Chrysler an advantage as far as supply and demand go.
If car sales pick back up, it's almost a certainty incentives on GM and Chrysler will go down, by as much as $3,000 per vehicle.
If sales do pick back up, the next 3-6 months offer the best opportunity to get the best deals on GM and Chrysler cars.
My Recommendation for Car Shoppers
TrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.California Residents - Important:
There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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