Incentives War Has Begun: Great Time to Buy a New Car
The incentives war is back on! Toyota, facing a huge consumer lashback, has increased their incentives to record highs, forcing other car makers to follow suit. This is fantastic news for car shoppers.
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.
3 Steps Every Car Buyer Needs to Take to Save Maximum Money
The 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 Network
Select 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 / CarsDirect
TrueCar, 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 Checklist
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
About The Author
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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