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Now is a great time to buy a new car

Bear with me on this one, but in my opinion right now is a great time to buy a new car. There, I’ve said it.

Last year, particularly in the first quarter, automakers seemed to be giving away their cars by placing thousands of dollars on the hoods of their slow sellers in a bid to move them and reduce their inventories. I remember hearing about Dodge dealers marking down their big Ram trucks by at least 00 with fully loaded quad cabs slashed by ten grand or more.

Read what the experts have to say when shopping for a new car.

Those days are over, but not the incentives people want. March was a good month for sales in part because rebates and low-rate financing were in abundance, but April will prove to be just as good a month for the reason that April is typically slower than March. Automakers don’t want to break the momentum and believe that pent up demand is fueling at least some of the showroom traffic.

And, with Toyota trying to get back business it lost earlier this year due to recalls and production stoppage, the deals from the world’s largest automaker will continue to be among the best ever offered.

Of course, if you aren’t ready to buy a car, then don’t. Good deals will be offered throughout the year as manufacturers ramp up production and battle for market share. The last thing anyone needs to do whose job outlook is rocky or finances shaky is to commit themselves to buying something they cannot afford. I’m not talking to these consumers, but to those who are ready to buy.

As always, shop around. Obtain price buying reports from Consumer Reports, Edmunds, KBB or similar type service. Know what car you want, the options you require and the price you are willing to pay.

Strongly consider arranging your own financing particularly if have the choice between taking a hefty rebate or opting for low-rate financing. But be warned: you may not be able to match the zero percent financing some companies are currently offering. Sit down with a calculator and run your numbers. Then be prepared to negotiate.

Try not to make your old car part of the deal. Or, negotiate your best price on your new ride and then see what your old car will fetch. This is where car shoppers lose a lot of cash: on what dealers will give them for their trade.

Don’t be pressured into agreeing on anything that doesn’t net you savings—the deals are out there, but you won’t necessarily find them placed in your lap.

Happy car shopping—take your time and you’ll find a new ride for a great price.

See Also — Why Do We Need Gap Insurance?

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http://www.autotrends.org/despite-recovering-market-incentives-continue/

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