Incentives Are Low Compared to Last Year
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 No-Haggle, CarsDirect, and NADAGuides 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
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