Car Incentives Down by as Much as 40%
$2,000 may sound like a lot, but keep in mind that most of these incentives are factored into financing, lease deals, and dealer incentives rather than cash-back offers alone.
Nissan and Ford reduced their average incentives spending by over 10% compared to last month, which may explain the large drop in Altima sales recently.
Honda has reduced their incentives by a whopping 40% compared to last year, which makes their ads touting "The Really Big Sales Event" sound ridicolous.
Here is a table showing the average incentives by the six largest manufacturers
|Manufacturer||Average April Incentives||Last Month||% Change||Change from Year Ago|
Unfortunately, with car sales increasing and production remaining low, this is a trend that will probably continue throughout this year. It's becoming harder to negotiate great deals, and can sometimes be difficult just to even find popular vehicles in stock.
But to get the best deals, start with the RydeShopper
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