Ford May Start Huge Incentives War
If you've been waiting patiently for great end of year deals on new cars, you may be in luck, because a huge incentives war is brewing. Automotive News (a trade publication), got their hands on a confidential memo released to Ford dealers this week. The memo informs dealers that a huge promotion will go into effect starting in November.
The "Friends & Neighbors Pricing Event" is scheduled to go live November 3rd and will run through January 4th. As part of the sales promotion, all Ford vehicles will be discounted to close to invoice price, with some vehicles discounted by as much as 10% off MSRP. That will be the maximum price you will pay for any Ford vehicle (before rebates and other discounts), and dealers are free to discount even further.
This will be the biggest incentives program since 2008's "Employee Pricing for Everyone", which GM launched shortly before they filed for bankruptcy. (Ford recently hired the same guy that was responsible for GM's incentives program - looks like he's doing something similar at Ford now).
The big story here isn't that you'll just be able to get a great deal on Ford vehicles, but it looks like this could finally trigger an incentives war among mainstream car manufacturers - something they've been trying to avoid.
Ford will be doing a lot of advertising for this program, and I'm almost positive other car brands will finally cave in and start offering big incentives programs of their own. If you're in the market for a new car, you may want to wait and see how this plays out in November. Personally, I would wait until the end of November to see how other car manufacturers respond.
My Recommendation for Car ShoppersTrueCar and Edmunds 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.
- 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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