Incentives Are Low Compared to Last Year
Be sure to look out for how automakers are delivering incentives this February, because January was one of the weakest months in a while in terms of discounts for consumers.
Although many companies tried to take advantage of Toyota's woes with trade-in discounts for ex-Toyota owners, the overall offers had declined when one looks at figures in both December, and January a year ago.
This month could be productive, especially around the traditional President's Day Weekend sales that occur, but buyers may want to be mindful that incentives have not been as forthcoming.
In fact, many automakers are increasing their overall sales by selling to governments and rental car fleets. Unlike these groups that buy in bulk, the discounts for individual car buyers were a couple hundred dollars less than last January.
It may make more sense to wait right now if you are considering a vehicle at the upper end of your budget, or to check out a similar vehicle that is more inexpensive within the same class. If the economy heads down again this year, you can be sure automakers will be increasing incentives.
My Recommendation for Car ShoppersTrueCar, 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.
New York Tri-State Residents - Important:There is a new car leasing service called Carvoy, available to NY tri-state area residents, which I recommend you try - especially if you hate the stress of haggling with car dealerships. Carvoy provides pre-negotiated lease deals, calculated with taxes and all fees incuded so you know exactly what it will cost. Here is my list of Best Carvoy deals, updated each month.
- 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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