Bigger Deals and Incentives May Come Soon
Looking at sales figures, you would assume the new car market has begun to rebound.
Comparing September 2010 sales to sales in September of 2009, GM saw its new vehicle sales in the U.S. increase 12% to 173,031.
Ford saw its sales jump 46% to 160,375, and Chrysler sold 100,077 vehicles, up 61%.
But it may not all be good news.
Fleet sales - not retail sales - seems to be driving the market surge. (Fleet sales are vehicles that are sold to rental fleets and corporate clients).
Collectively, General Motors, Ford, Toyota, Chrysler, Hyundai-Kia and Nissan sold 2.3 million units in the third quarter, up 1 percent.
But combined retail sales fell 4 percent to 1.8 million.
What does this mean for car shoppers? Fleet sales can only sustain the auto market for so long.
To boost retail sales, automakers will have to offer greater discounts and incentives.
Our recommendation is to consider waiting a few months before purchasing (unless you're considering a leftover model). You may end up saving thousands.
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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