Top 10 Cars to Avoid if You Don't Have a Cash for Clunkers Trade-In
As expected, small and midsized sedans are the most popular cars that are being purchased under the program. Here is the list of the top 10 "cash for clunkers" purchases so far:
- Ford Focus
- Toyota Corolla
- Honda Civic
- Toyota Prius
- Toyota Camry
- Ford Escape FWD
- Hyundai Elantra
- Dodge Caliber
- Honda Fit
- Chevrolet Cobalt
If you don't have a trade-in that qualifies for the "cash for clunkers" program, your best bet may be to hold off buying one of these popular models until after the program has ended.
Demand for these vehicles has shot up and dealers are in no mood to negotiate when there are tons of buyers clamoring for the same thing. Remember, supply and demand is one of the most important factors when it comes to the price of the car.
After the program ends, demand for these vehicles will go back down and dealers will once again be willing to make some great deals. Yes, you have to wait a couple of months, but the savings will probably be worth it.
It doesn't make sense to compete with buyers coming into the showroom with a $4,500 voucher from the government. It's not the same playing field, so don't short-change yourself.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid