Great Car Deals Becoming Harder to Find
Chrysler and GM were heading into bankruptcy, cars in showrooms were collecting dust, and great deals seemed to be everywhere you turned.
What a difference a year makes. Today, Ford is booming, GM is on the mend, sales overall are up... which means, alas, incentives are down.
Compared to a year ago in May, average incentives in the U.S. have fallen by $340, or 11.6%, to $2,603 per vehicle. As inventories have dropped, carmakers understandably are cutting back on deals.
If you're looking for an end of summer bargain, start shopping now while selection is still good, since dealers most likely won't drop prices to clear the lots of 2010 models.
The best deals seem to be going to large trucks, with the highest average incentive at $4,650 per vehicle sold, followed by high-end sport cars at $3,892.
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