Huge Incentives War Expected at Year End
You may not have to wait too much longer - there are rumors circulating that a massive incentives war will start occurring within two to three months.
The reason: Japanese automakers are trying to salvage a year of inventory shortages and market share loss.
With production levels expected to return back to normal, car manufactures such as Toyota, Honda, and Nissan may try to improve total annual sales with huge rebates and lease deals.
The disasters this spring in Japan have brought about a shift in market share, with Japanese auto companies losing a huge percentage of sales.
Toyota, for example, saw its market share plummet a whopping 2.6 percent, which is equivalent to Mazda's entire market share.
The new Camry about to roll on to dealer lots later this year may help the Japanese auto giant. Rivals Honda and Nissan will likely launch a price war to keep market share, meaning much larger incentives than usual.
The perfect storm is brewing and the rewards should be huge for patient buyers.
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