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Want a Good Deal on a New Car? Now May be the Time!

Big cash incentives, discounted interest rates may equal a good buy.

by on Dec.21, 2018

If you still want a new vehicle during the holidays, some of those big red bows may still be available.

Plenty of automotive experts are predicting that new vehicle sales this year will unexpectedly surpass last year’s results. Part of that is the flurry of activity they’re expecting this month, including the week between Christmas and New Year.

Auto dealers are often busiest at this time of year as they try to squeeze out the last of the new 2018 models and automakers are working to help them with an uptick in incentives and discount financing to entice new buyers to make one more holiday purchase.

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For those in the market to put a big red bow on top of a new sedan, minivan or sport-utility, now is the time to get out there; however, there are couple of days in particular you should consider, according to Cars.com.

“Due to the calendar, we have two very strong-selling days to the end the year — Saturdays, which are always the strongest-selling days of the week, on Dec. 29, combined with Monday, New Year’s Eve, [which] is always among the top-selling days of the year,” Tyson Jominy, head of J.D. Power and Associates’ data consultancy, told the website.

(Beating predictions, 2018 new car sales to surpass 2017 results. Click Here for the story.)

“As we head into the period, it is important to note that incentives are still likely to be down overall for the industry versus last year. However, excellent deals can still be found on specific models.”

There's still time to find a good deal on a new 2018 model-year vehicle.

The best deals are often found on the outgoing model year vehicles, and especially at dealers with plenty of stock left in those models. As of Dec. 19, 2018 model-year vehicles account for about a third of all new-car inventory on Cars.com, but for some brands its much higher, which could mean a deal can be had. Check out these brands and their 2018 inventory levels:

  • Mazda: 62.5%
  • Audi: 52.9%
  • Dodge: 51.7%
  • Ford: 49.7%
  • Mitsubishi: 49.3%
  • Jeep: 48.2%

However, if you’ve got your heart set on something made by Subaru, Acura and Infiniti, you’re likely to be disappointed as they are almost all the way into the 2019 model year, with less than 10% of inventory still comprising the 2018 model year.

(Click Here for more about NADA predicting new car sales will be down in 2019.)

Dealers are looking to get those last 2018 model-year vehicles off their lots this holiday season.

On specific vehicles there are some hefty incentives that could bring the prices down enough for you to get into a better vehicle than expected. Here are some examples:

  • 2018 Chevrolet Equinox: Discounts as high as $6,000 depending upon the trim level and if you finance with the company and get employee pricing.
  • 2018 Ford EcoSport: Incentives range from $1,750 to $3,650 with interest rates on an 84-month loan ranging 2.9% to 7.9% depending upon where you live and your credit rating.
  • 2018 Hyundai Tucson: As much as $3,500 in cash depending upon trim levels or 0.9% financing and $1,000.
  • 2018 Nissan Murano: The ute has cash back ranging from $4,000 to $5,250 depending on region and trim level. If you need financing, there is 0% for 60 months with as much as $2,750 cash back.
  • 2018 Chevrolet Cruze: The employee discount is the key here, cutting $5,400.
  • 2018 Chevrolet Malibu: Discounts can hit $6,100 in cash, if you finance through GM and get the employee discount – just like with the Cruze.
  • 2018 Ford Focus: Cash back ranges from $2,500 to $5,000 with 84-mnth loans coming in as low as 2.9%. Not a surprise really as the company is looking to cut small cars from its line-up.

(Toyota staying in car market for long haul. Click Here for the story.)

There are others deals like these as well, it’s a matter of looking at the slow sellers, as many of these above are, and then finding the incentives. The company’s website can help with that as can others, such as Cars.com.

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