Car Incentives Are Back

July 30, 2008

It is no secret that American auto manufacturers are facing declining sales. With gas prices on an ever steady rise drivers are shying away from gas guzzling SUVs in favour of smaller, more compact cars and should they need to buy used then so be it. With this being the case production of cars has been cut and dealerships are scrambling to get the current stock off the lot.

This can mean great deals for those consumers able to buy new. Several auto manufacturers have gone back to offering perks and incentives for buying their vehicles. Usually these incentives are directed at consumers buying SUVs but are available to other types of cars. Rebates and near invoice price tags are making those gas guzzlers attractive once again.

Auto sales are down nearly 3% in the first three months of 2008 when compared to the same time last year. There is no doubt that that number is going to continue to decline as consumers are finding themselves more and more unable to meet bills and mortgage payments.

In an effort to keep sales going dealers are almost guaranteeing financing for new cars especially for those who have a credit score of 700 or better. Those with bad credit will be subjected to higher interest rates just as they would before the downturn in the economy, of course.

Many are saying that the time to buy is now since the selection of vehicles may not be so great after the summer months. It can be assumed that auto makers will be offering better incentives after the summer in an effort to push their products so it is up to the consumer when to buy. If there is a specific make, model, and colour then buying immediately might be best. However, if the consumer is more concerned with a great deal then with details buying later will be prudent. With low financing rates, perks, and even rebates, many consumers are giving dealerships another once over.

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