Better Car Deals Being Offered in July
Disappointing June sales are forcing automakers to extend discounts -- including rebates and better loan terms -- on new cars and trucks.
Toyota is extending incentives through Aug. 2, including low- and no-interest financing - caused by fallout from its massive recalls.
Incentives for July are slightly better than they were in June, but don't expect rock-bottom pricing like last summer. Automakers are keeping inventories low so as not to require expensive incentives to move cars off lots.
Still, there are good deals to be had. General Motors is offering 0% financing across most of its brands, as is Ford and Nissan. Even Mini and Honda are offering low-interest financing.
Special lease deals are available too. Plus, if sales continue to slow, automakers may sweeten deals even more to clear 2010 models off their lots to make way for the 2011 models.
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