Saturday, July 17, 2010

Buying a car without breaking the bank...

Its hard to believe it’s the end of the year for car manufactures when we are in the middle of summer, but now is one of the best times to be looking for a new car if you are in the market for one. There are a lot of incentives being offered by most of the companies, Buick, GMC, Cadillac, Chevrolet are offering 0% APR financing available on many models, cash back rebates of up to $5,000 on some models until September 7th. Ford, Lincoln, and Mercury are offering 0% APR financing on most models, cash back offers up to $3,500 until September 7th. Honda has 0.9% to 2.9% APR financing on some models also until September 7th. BMW is offering Low lease rates and 0.9% financing on many models until August 31st. Mini is offering Low lease rates and 1.9% financing for up to 60 months until August 31st. Toyota is offering 0% APR financing on some models as well as a variety of other deals depending on what part of the country you live in, and Nissan and Infiniti are offering 0% financing on many models until August 2nd.

There are other things to keep in mind when you are looking to purchase a vehicle as well, the old advise of “do your homework” is never more true than when you are buying a car. Also be sure to shop around, not all car dealerships are created equal, you may find a better deal for a truck in a metro vs. a rural dealership where supply is great but demand is low. Also beware of the dealer added “values“, there is a great article I came across at Safe Car Guide that lists all the “extra’s” that are added into the price of your new car, be sure to check it out. Also, remember that if you are going to finance your purchase things get more expensive. I know this sounds over simplistic, but consider that after market heated front seats cost about $500.00, but when those same seats are purchased from a dealer, if you finance at 6.31% (the current national average) then over the course of a 60 month loan those seats cost $9.74 extra per month; that's $584.40 over the course of the loan. If you can wait on some of the little things and add them after you purchase the car you can save a bundle. There are a few things that you should never get from a dealer, the glaring example here are the floor mats. For example, Nissan will gladly sell them to you for $175.00, however if you go to online you can find car floor mats as low as $15.24 for black or $19.95 for animal print at Amazon.

Do you have car buying stories good or bad? I would love to hear your experiences and know how they affected what or where you bought your vehicle.

Have a fantastic weekend!


1 comment:

  1. I hate car shopping! When Roy was looking for our last car it took forever. He went and kicked every tire in town. I'm sure the sales people see him and run the other way.


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