Car Incentives Are Terrible Right Now
The reason incentives are so low right now is due to supply and demand issues.
Inventories of new vehicles are lower due to brisker consumer demand thanks to a strengthening economy, and shortages resulting from the recent Japan disaster.
As a result, automakers don’t need to offer rich incentives.
The decrease in incentive spending runs across the board by manufacturers regardless of country of origin, with the exception of Korean automakers Hyundai and Kia - least affected by the Japan disasters and clearly trying to capitalize on the situation.
Domestic automakers showed the largest decline in incentives from March, averaging $2,683 per vehicle sold in April, down $398 from March.
Japanese automakers had the second largest decline with $1,696 per vehicle, down $236 from March.
So what can you do as a car buyer? Should you wait a few months in hopes of getting a better deal? Not necessarily - these supply and demand issues are predicted to last until at least the end of summer and possibly until the end of the year.
We just have to get used to the fact that car deals are not as good as they used to be. However, that doesn't mean it's impossible to get a great deal - make sure to use our car buying formula when you're ready to start negotiations and you'll do fine.
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.Latest Weekly Car Buying Tips
July 2024
- All SUV Lease Deals Compared July 2024 Jul 25, 2024
- Real Prices of New Compact SUVs Jul 25, 2024
- New Cars You Should Wait to Buy Jul 25, 2024
- Cheapest Luxury Lease Deals Jul 25, 2024
- Best Car Deals by Category Jul 18, 2024
- Cars With the Largest Rebates Jul 18, 2024
- Price Comparison of Subcompact SUVs Jul 18, 2024
- Largest Hidden Dealer Rebates Jul 18, 2024
- Best 0% Finance Deals July 2024 Jul 11, 2024
- Best Bang for Your Buck Lease Deals Jul 11, 2024
- Best Electric, Hybrid Lease Deals Jul 11, 2024
- Real Prices of Pickup Trucks Jul 11, 2024
- Biggest Discounts on New Cars Jul 04, 2024
- New Cars with the Most Available Inventory Jul 04, 2024
- Top 100 Cheapest New Cars for 2024 Jul 04, 2024
- Real Prices of Midsize SUVs Jul 04, 2024
June 2024
- Top 100 Cheapest Lease Deals Jun 27, 2024
- Best Car Deals for 4th of July 2024 Jun 27, 2024
- Worst Cars to Lease Right Now Jun 27, 2024
- Real Prices of Compact Cars Jun 27, 2024
- Best Car Deals Around the Country Jun 20, 2024
- Real Prices of Midsize Cars Jun 20, 2024
- Real Prices of Large SUVs Jun 13, 2024