Great Car Deals Becoming Harder to Find
A year ago, it was "Car-mageddon."
Chrysler and GM were heading into bankruptcy, cars in showrooms were collecting dust, and great deals seemed to be everywhere you turned.
What a difference a year makes. Today, Ford is booming, GM is on the mend, sales overall are up... which means, alas, incentives are down.
Compared to a year ago in May, average incentives in the U.S. have fallen by $340, or 11.6%, to $2,603 per vehicle. As inventories have dropped, carmakers understandably are cutting back on deals.
If you're looking for an end of summer bargain, start shopping now while selection is still good, since dealers most likely won't drop prices to clear the lots of 2010 models.
The best deals seem to be going to large trucks, with the highest average incentive at $4,650 per vehicle sold, followed by high-end sport cars at $3,892.
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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