Incentives War Has Begun: Great Time to Buy a New Car

For the past 6 months, incentive offerings have been weak because car makers were able to keep their inventory levels low following the cash-for-clunkers program. In fact, incentives had just hit a 20-month low in January.

Now Toyota has shaken up the industry by offering their highest incentives in history, which includes 0% financing for up to 60 months and low monthly lease deals. GM and Ford have now also introduced 0% financing in an effort to keep market share.

While Toyota is simply trying to recover from a publicity nightmare, GM and Ford are competing to be the number 1 sales leader. With all this renewed competition, other car makers are being forced to increase their incentives just to remain competitive.

This is exactly the type of environment car shoppers desire, and analyts expect this incentives war to continue until at least September.

If you've been considering a new car, the opportunity to get a great deal has opened up and should last several months.