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Toyota and Honda Incentives War May be Next Year

Just when things were looking good for Toyota and Honda, floods in Thailand have knocked their production back again.

A string of bad luck this year starting with the March Japan earthquake has caused severe part shortages, causing inventory levels to plummet.

With fewer inventory to choose from, consumers have either held off buying or have chosen competing brands, hurting sales considerably.

Toyota and Honda had been gearing up for a year-end incentives war, but that's out of the question now.

Honda has had to cut production in half and delay the release of the 2012 Honda CR-V by several weeks.

Both manufacturers won't be back to full production again until early next year.

The good news: If you don't mind waiting, the incentives war looks like it may occur in the first quarter of next year - and this one may be even bigger than what was planned for this year.

Toyota and Honda are desperate to gain back market share, and the longer they suffer with shortages, the more it will take to win back customers.

We won't be surprised if they offer the largest incentives in their history sometime early next year.

But, keep in mind no one knows for sure what's in store. You can still get a good deal right now, but if you have the luxury of waiting, we recommend doing so.

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).
Select Vehicle to Get Local Pricing

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

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About The Author

Gregg Fidan 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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