2010 Car Deals – Better or Worse?
As we enter the first months of 2010, we find the automobile industry in sad shape. Sales are at record lows. Entire brands, such as Pontiac and Saturn, have disappeared. Manufacturing has been cut back on remaining brands. Fewer models are being offered. Dealerships have gone bankrupt or cut out by their car makers.
That’s the bad news.
However, the good news is that it’s a great time for automotive consumers.
Prices have never been lower.
Nearly every car company is offering incentives in the form of generous rebates, 0% APR loans, low interest loans, special lease deals, and hefty factory-to-dealer cash that usually finds its way back as customer price discounts. It’s a great time to buy a new car.
Given that the economy is slowly improving, the automobile industry and sales will also improve in 2010. But it won’t happen at a fast enough rate to satisfy car manufacturers. And it will take more than one year to even start getting back to normal.
Therefore, we will see more new-car incentives and low prices in 2010.
Will it be as good as 2009?
Nobody can tell. As usual, we won’t know, and dealers won’t know, until the actual announcements are made. When we know, we’ll let you know.
Outlook
If 2010 is similar to 2009, we should expect to see some of the best deals on American car brands (Ford, GM, and Chrysler), especially on leftover 2009 models.
Japanese and Korean brands will offer better incentives in 2010 than in 2009. [EDIT: Considering recent problems with Toyota vehicles, expect to see some good Toyota deals after the fix. For more details, see "Toyota Fire Sales Soon?"]
Luxury brands such as Lexus and Acura and European brands such as BMW, Mercedes, and Audi will continue to offer “hidden” incentives in the form of special leases and factory-to-dealer rebates. Look for some of the best incentives in the first quarter of the year — January through March. Depending on how the auto industry begins to recover, incentives later in the year could be better — or worse.
Meanwhile, have a happy and prosperous 2010. We have appreciated your visits and your interest in our sponsors, without which we would not be able to operate this web site.
You can get free price quotes on any currently available new vehicle from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
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Ford Incentives for February
Ford is offering new rebates, promotional bonuses, and low interest rates (including some 0%) for February 2010. These deals expire on 3/1/2010.
As usual, if you like one of the Ford deals, you must choose either the rebate, or the low-interest loan, but not both. However, Ford is doing something a little different in that they are offering conventional rebates (which cannot be combined with low interest rates) with a special “Promotional Bonus” of $1000 which can be combined with low interest rates.
Here are the current Ford deals. Keep in mind that, in addition to the rebates shown below, there is the $1000 promotional bonus cash mentioned above on each of the vehicles. These deals are all for 2010 model vehicles.
Ford Edge – $2000 customer rebate, 0% APR loan rate for 36/48/60 months
Ford Escape – $1000 rebate, 0% APR loan for 36/48/60 months
Ford Expedition – $2000 rebate, 0% APR loan for 36 months, 0.9% for 48 months, 1.9% for 60 months
Ford Explorer – $2000 rebate, 0% APR loan for 36 months, 0.9% for 48 months, 1.9% for 60 months
Ford F-150 – $2000 rebate, 0% APR loan for 36 months, 3.9% for 48 months, 4.9% for 60 months
Ford Flex – $1500 rebate, 0% APR loan for 36/48/60 months
Ford Focus – $1500 rebate, 0% APR loan for 36 months, 4.9% for 48 months, 5.9% for 60 months
Ford Fusion – $1500 rebate, 0% APR loan for 36 months, 2.9% for 48 months, 3.9% for 60 months
Ford Mustang – $500 rebate, 0% APR loan for 36/48/60 months
Ford Ranger – $2500 rebate, 0.9% for 48 months, 1.9% for 60 months
Ford Taurus – no rebate (but $1000 promo bonus cash), 0% APR loan for 36 months, 2.9% for 48 months, 3.9% for 60 months
You can get free dealer price quotes on any of the above Ford vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
Toyota Fire Sales Soon?
Toyota has long been known as a company that builds top-quality, super-reliable, and reasonably priced automobiles. Sales have consistently shown customer love and appreciation for their products.
Unfortunately, Toyota has suffered a bit of bad luck recently with some sticking gas pedals that has created a media sensation that, in our opinion, is far out of proportion to the actual problem.
The press seems to enjoy knocking down an industry leader because — well, because it makes news. As a result, the company has temporarily stopped production, halted sales, and created recalls to fix the problem.
Because of the extreme publicity and resulting actions by Toyota, many existing customers and potential customers are feeling a bit nervous about the brand.
However, loyal Toyota fans, like ourselves, see this for what it is and will continue to buy the brand. In fact, this incident will make the brand even better in the coming months and years. Toyota will continue to be an industry leader in value-priced, high quality, and reliable automobiles for many years to come.
But what does all this mean for automotive consumers in the short term? Are there some good deals coming out of this?
Toyota will be struggling in the next few weeks and months to restore public image and recreate customer demand for their products. They must move fast or lose the opportunity.
Although the company has never offered huge sales incentives in the past (because they didn’t have to), they can’t afford to be complacent now. Without some help, sales are not going to improve on its own.
Therefore, we think we’re going to see some incredible incentives coming from Toyota very soon, probably even this month. The incentives, in the form of rebates, low interest loans, and other creative promotions, will be like nothing ever offered by the company. They must recover from this unfortunate incident quickly, or risk not recovering at all.
It is possible that whatever Toyota decides to do will also affect the rest of the automobile industry. If Toyota starts offering irresistible deals, other manufacturers will have to react and respond with their own even-better deals. It might be a bit of a stretch, but this could turn out to be a boon for automotive consumers — while further damaging already fragile American car makers.
Is it possible that stuck gas pedals on a few Japanese-brand cars could be the demise of the American car industry? If so, blame it on an overzealous media and an exciteable public.
Lease a Land Rover
Land Rover is currently offering special lease deals on some of its models for February and March 2010 — until 3/31/2010.
This is a great way to be able to drive a Land Rover luxury vehicle but, unless you understand how car leasing works, we advise taking the time to learn before you decide to go with one of these deals.
Leasing works well for many people, but not for others. See LeaseGuide.com for car leasing advice and information.
Here are the current special lease incentives from Land Rover. All are for 2010 models, 36 month lease term, and 10K miles per year (30K miles total).
Land Rover LR4 – $679 a month, $3995 due at signing
Land Rover Range Rover – $1535 a month, $5995 due at signing
Land Rover Range Rover Sport – $1099 a month, $3995 due at signing
These deals include a reduced lease price, a low lease money factor, and a boosted residual, which makes for a lower monthly payment.
If you are in the market for a Land Rover, this is a good time to consider a lease.
Suzuki Offers Rebates and Loans for February
Suzuki has some excellent car incentives for February, in the form of customer rebates and low-interest loans — and a few 0% APR loans.
Some of the deals are on 2009 models, where you’ll find the best deals. But the 2010 model deals aren’t bad either.
Here are the current Suzuki deals for February (until 2/28/2010):
2009 Suzuki Equator – $2500 rebate, or 0% APR loan rate for 48/60 months
2009 Suzuki Grand Vitara – $2000 rebate plus $500 loyalty bonus rebate for Suzuki owners, or 2.9% loan for 48 months, 1.9% for 60 months
2009 Suzuki SX4 – $2500 rebate plus $500 loyalty rebate, or 0% APR loan for 48/60 months
2009 Suzuki XL7 – $4000 rebate plus $500 loyalty rebate, or 0% APR loan for 48/60 months
2010 Suzuki Grand Vitara – $1500 rebate plus $500 loyalty rebate, or 2.9% loan for 48 months, 1.9% for 60 months
2010 Suzuki Kizashi – $500 loyalty bonus, 3.9% loan for 60 months
2010 Suzuki SX4 – $1000 rebate plus $500 loyalty bonus, or 2.9% loan for 48 months, 1.9% for 60 months
You can get free price quotes on any of the above vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
Great Honda Lease Deals for February
Honda has always managed to have some of the best lease deals in the industry — every month.
February 2010 is no exception.
In fact, Honda is offering more deals this month than usual. Typically, they only have special leases on one style within each of its model lines. It’s usually the low-end LX versions. However, for February (until 3/1/2010) they have also added some high-end EX models as well.
Honda leases are always genuinely good deals. They not only reduce vehicle lease price, but reduce money factor (finance charge), and raise lease-end residuals. Combined, these factors add up to a low monthly payment.
All the 2010 Honda leases listed below are for 36 months and 12K annual miles (36K miles total). All require cash due at signing. The cash covers the first month’s payment as well (in most cases) a capitalized cost reduction (down payment).
If you don’t understand how car leasing works, we strongly advise you to take the time to learn. Leasing works very well for many people, but not for everyone. We recommend LeaseGuide.com for a good, easy to understand guide to car leasing.
Here are the current Honda lease programs:
Honda Accord LX Sedan – $199/month, $2199 due at signing
Honda Accord EX 6-cyl Sedan – $269/month, $2199 due at signing
Honda Accord EX 4-cyl Sedan – $219/month, $2599 due at signing
Honda CrossTour EX-L AWD – $429/month, $429 due at signing OR $369/month, $2499 due at signing
Honda CrossTour EX 2WD – $379/month, $379 due at signing OR $329/month, $2299 due at signing
Honda CR-V LX 2WD – $249/month, $2099 due at signing
Honda Civic LX 4-cyl Sedan – $179/month, $1799 due at signing
Honda Civic EX Sedan – $199/month, $1899 due at signing
Honda Civic DX-VP Sedan – $159/month, $1399 due at signing
Honda Fit – no lease deals but $500 dealer cash
Honda Insight LX – $199/month, $1799 due at signing
Honda Odyssey LX – $299/month, $2499 due at signing
Honda Pilot LX 2WD – $349/month, $2699 due at signing
Where are the 0% APR Car Loan Deals?
Cars sales have been in a slump for months and car makers are offering some very attractive incentives, including 0%, no interest, loans to try to get things moving again.
Some manufacturers are also offering cash-back rebates but, as you may already know, you generally must choose between the rebates and the special low-interest (or no interest) loans. You can’t take both.
Usually, rebates are a better deal, especially if you need down payment money (rebates can be used as down payment cash). However, in many cases, you don’t have a choice when only a rebate, or only a low-interest loan is being offered. See our article, 0% APR Car Deals – Good Deal or Not? for more details.
Here are some of the current (February 2010) car makes and models with 0% APR loan deals. Note that the 0% APR rate usually only applies for shorter-term loans — 24, 36, or 48 month loans — and may not apply to all styles within a model line. Many apply to both 2010 and 2009 models, but some only apply to leftover 2009 models. Conditions can vary by car company.
Following are some of the current 0% ARP loan deals. General Motors is the currently the winner in offering the most 0% deals on nearly its entire 2009 line of vehicles.
- Chrysler 300
- Chrysler Town & Country minivan
- Chrysler PT Cruiser
- Chrysler Sebring
- Chevrolet (most 2009 models
- Dodge Charger
- Dodge Grand Caravan minivan
- Dodge Journey
- Dodge Avenger
- Dodge Dakota
- Dodge Nitro
- Dodge Viper (2009)
- Jeep Grand Cherokee
- Jeep Compass
- Jeep Commander
- Jeep Patriot
- Ford Mustang
- Ford Flex
- Ford Explorer
- Ford Ranger
- Ford Edge
- Ford Fusion
- Ford Taurus
- Ford F-150, F-250, F-350, and F-450 trucks
- Ford Escape
- Ford Taurus X
- Ford Explorer Sport Trac
- Ford Focus
- Ford Expedition
- Ford Econoline
- Lexus ES350/IS250/IS350 (2009)
- Lincoln MKX
- Lincoln MKS
- Lincoln MKZ
- Mercury Mountaineer
- Mercury Milan
- Mercury Grand Marquis
- General Motors brands (Chevrolet, Buick, Pontiac, Cadillac, Hummer, GMC, Saturn, Saab) – 2009 models
- Honda Civic
- Kia Forte
- Kia Soul
- Land Rover LR2/LR3 (2009)
- Land Rover Range Rover (2009)
- Land Rover Range Rover Sport (2009)
- Mazda CX-8/CX-7/CX-9
- Mazda Mazda3
- Mazda Mazda6
- Mitsubishi – All 2009/2010 models
- Infiniti EX35/FX35/FX50/M35/M45/QX56
- Nissan – Most 2010 models and all 2009 models
- Subaru Forester (2009)
- Subaru Impreza (2009)
- Suzuki XL7
- Suzuki Equator
- Suzuki Grand Vitara
- Suzuki SX-4
- Toyota – 2009 and 2010 models
- Volkswagen – most 2009 models except Jetta TDI sedan
- Audi – 2009 A3, A8, Q7, TT, TTS, A4, A6
Of course, the best deals result from having both a 0% loan and a good price discount. Many car buyers are so happy to get a great loan deal that they overlook the fact that they should also be getting a price discount (not rebate) from their dealers. Shop for or negotiate your best price, even when you are getting a zero-percent loan. Don’t let dealers try to tell you that you can’t have both.
You can get free price quotes on any of the above cars from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
Car Deals February 2010
We see people near the end of every month looking for information about new car deals and incentives for the next month. It’s no different this month with queries about new February incentives.
And we tell them the same thing every month.
Car manufacturers never announce a new month’s incentives (rebates, low-interest loans, lease deals) until the old incentives expire. They don’t even tell their dealers until the day of the announcement to the public. They want to be able to analyze the success of the last incentive program so that they can fine-tune it or replace it with something that’s going to work better.
Some manufacturers announce muti-month programs. For example, BMW now has incentives that are good during January and February 2010. Infiniti’s current program goes all the way through March. See other articles here on this web site for details.
What can we expect for the coming months?
Of course, car sales are still in a slump as they have been for many, many months. Therefore, until sales are significantly better, we’ll continue to see good incentive programs from nearly all car companies. Sometimes the deals will be better than last month’s — sometimes not as good. There is no way to tell in advance what we’ll get.
It’s very unusual to see continuing month-to-month incentives as good as we’ve seen in the last year or so. In the “old days” a car manufacturer might only have incentive programs a couple or three times a year, not every month as it is now. And some companies never had incentives. Not now. Now is one of the best times ever to buy a new car. The deals have never been better.
Right now, and for the next few months, the best new car deals will be on remaining 2009 models, particularly on brands that have been discontinued or sold by their manufacturer. These include Pontiac, Hummer, Saab, and Saturn. If you like the brand and the price is right, there’s no reason not to buy. The manufacturer will still honor it’s warranties, you will still be able to get parts and service, and in a few years your car could be considered a “classic.”
As always, we will let you know when the new February car deals and incentives are announced. Check back here often because all new programs are not announced at the same time.
You can get free price quotes on any new vehicle from Edmunds.com.
The quotes will automatically include any rebates or discounts that are currently available.
Leftover 2009 Cars for Cheap
Most 2010 model cars are out now and there are still leftover 2009 models (and a few 2008 models) still in dealers’ inventories. These cars must be sold. Every day that a 2009 model sits on a dealer’s lot, the more money it costs him.
Since cars typically don’t change much from one model year to the next, a dealer with both 2009 models and similar 2010 models sitting on his lot has to make the 2009 models attractive to potential customers. How does he do it? He and the manufacturer offer incentives that significantly reduce the cost of the older models. The incentives can be direct customer rebates, price discounts, low-interest (or zero interest) loans, and factory-to-dealer cash.
Because of the incentives being offered on the leftover models, some great deals can be had without a lot of messy negotiating.
What’s the catch?
If there’s a catch, it is that dealers may not have exactly the model, style, and color you want in their inventory of leftover 2009 cars. You might have to be a little flexible since your choices may be limited. Since different dealers have different leftover styles and colors, you could shop around to try to find the model that best fits your needs.
Here are examples of some of the best deals currently being offered on leftover 2009 vehicles:
Read the rest of this entry »
Big Dealer Cash on BMW – January and February
As you may know, BMW doesn’t want you to think of them as a discount car brand. Therefore you will rarely see direct factory-to-customer rebates or extensive low-interest loans.
However, BMW offers “back door” price discounts by giving dealers money (“dealer cash” or “marketing support”) in the form of factory-to-dealer rebates on certain models during a promotion period. Dealers can use the money for advertising or sales events but most, if not all, of the money goes back to customers in the form of price discounts.
Currently, BMW is offering some incredibly large factory-to-dealer incentives, good during January and February 2010, ending on March 1, 2010.
Let’s look at some of the BMW dealer rebates:
2010 BMW M6 – $12,000 dealer cash
2010 BMW 6-Series – $10,000 dealer cash
2010 BMW 5-Series and M5 – $7500 dealer cash
2009 BMW 6-Series and M6 – $10,000 dealer cash
2009 BMW 7-Series – $7500 dealer cash
2009 BMW X5 and X6 – up to $5500 dealer cash
2009 BMW Z4 – $5000 dealer cash
2009 BMW 3-Series and M3 – up to $4500 dealer cash
2009 BMW X3 – $3500 dealer cash
2009 BMW 1-Series – up to $3500 dealer cash
You can get free dealer price quotes on any of the above BMW vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
Buy a Car – Skip the Dealer
If one asks oneself why one must go to a car dealer to buy a new car, one would come up with the following answer.
Most people go to car dealers because they want to know about that dealer’s brand of cars, what models are offered, what options are available, about gas mileage and safety ratings, about benefits his cars have over a competitor’s, about what cars the dealer has in stock, and at what prices. Some people also want to know how they might finance their purchase and if they can buy within their monthly budget.
In other words, we look to a dealer sales person — repeat, sales person — to educate us about the car we might want and how to finance it. Sales people usually do a pretty good job at educating us but keep in mind that everything a sales person does and says is aimed at only a single objective — selling a car for the best possible profit for the dealership.
When you visit the dealer’s showroom or sales lot, you are on their home turf where they have the advantage. That’s where they want you to be. That’s where they can be more effective in what they do best, selling cars. Most customers who come in to buy a car on their own terms, get sold a car on the dealer’s terms.
So, how can we as car buyers retain control over the car buying process?
Read the rest of this entry »
Low Loans and Rebates on Nissan for January
Nissan has announced its January 2010 new-car incentives and they look pretty good, especially on leftover 2009 models.
There are customer rebates, low-interest loans, 0% loans, and a few good lease deals. The lease deals are genuinely good deals except that only a few models and styles have the deals. So, if you like the model/stye being promoted, you can get an excellent car lease without further negotiations.
All the current Nissan deals end on 2/1/2010.
Here are some examples of the new Nissan deals:
2010 Nissan Altima – $1000 rebate, or 1.9% APR loan for 12/24/36/48/60 months — or a special lease deal on the 2.5S CVT sedan ($189 a month, 39 months, 12K miles per year, and $2889 due at signing) or a special lease deal on the 2.5S CVT coupe ($269 a month, 36 months, 12K miles per year, and $2999 due at signing).
2010 Nissan Pathfinder – $2500 rebate, or 0.9% APR loan rate for 12/24/36 months, 1.9% for 48/60 months — or a special lease deal on the Pathfinder S 4WD model ($329 a month, 39 months, 12k miles per year, $2999 due at signing)
2010 Nissan Versa – $750 rebate, or 1.9% APR loan for 12/24/36/48/60 months
2009 Nissan Versa – $1250 rebate, or 0% APR loan for 12/24/36 months, 1.9% for 48/60 months
2010 Nissan Sentra – $500 rebate, or 0.9% APR loan rate for 12/24/36/48/60 months — or a special lease deal on the Sentra 2.0 SR model ($149 a month, 39 months, 12 miles per year, $2449 due at signing)
2009 Nissan Rogue – $1250 rebate, or 1.9% for 12/24/36/48/60 months
There are similar deals on most other Nissan models. Special lease deals are available for certain models of the Nissan Rogue, Murano, Maxima, Frontier, Armada, and Cube (2009 model).
You can get free price quotes on any new Nissan vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
Good Deals on Ford Vehicles for January 2010
Ford’s new car incentives for January are good, although not great.
There are some decent customer rebates, but the best news are the zero percent loans on their new 2010 models. All the current deals expire on 2/1/2010.
As you probably know, you can’t take both a rebate and a low-interest loan. You have to choose one or the other.
Here are some of the current Ford deals. These are all on 2010 models except where noted.
Ford Edge – $2000 rebate, 0% APR loan rate for 36/48/60 months
Ford Escape – $2000 rebate, 0% APR loan rate for 36/48/60 months
Ford Expedition – $2000 rebate, 0% APR loan rate for 36months, 0.9% for 48 months, 1.9% for 60 months
Ford Explorer – $2000 rebate, 0% APR loan rate for 36months, 0.9% for 48 months, 1.9% for 60 months
Ford F150 – $2000 rebate, 0% APR loan rate for 36 months, 3.9% for 48 months, 4.9% for 60 months
2009 Ford F150 – $3000 rebate, 0% APR loan rate for 36/48/60 months
Ford Flex – $1500 rebate, 0% APR loan rate for 36 months, 0.9% for 48 months, 1.9% for 60 months
Ford Focus – $1500 rebate, 0% APR loan rate for 36 months, 4.9% for 48 months, 5.9% for 60 months
Ford Fusion – $1000 rebate, 0% APR loan rate for 36 months, 2.9% for 48 months, 3.9% for 60 months
Ford Mustang – $500 rebate, 0% APR loan rate for 36/48/60 months.
Ford Taurus – 0% APR loan rate for 36months. 2.9% for 48 months, 3.9% for 60 months
You can get free dealer price quotes on any of the above cars from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
General Motors Best Car Deals for January 2010
General Motors (Chevrolet, Buick, P0ntiac, Saab, Cadillac, Hummer, GMC, Saturn) is currently offering some of the best deals and incentives among all the car makers for January.
The GM deals are in the form of direct customer cash rebates and low-interest loans, with a number of 0% APR loan deals as well. All the current January incentives end on 2/1/2010.
Here are some of the best General Motors deals at this time:
2010 Buick Lucern $2000 rebate
2010 Chevrolet Avalanche, Suburban, Tahoe, Cobalt, Impala – $2000 rebate
2010 GMC Yukon, Yukon XL, Sierra – $2000 rebate
2010 Pontiac Vibe – $4000 rebate
2009 Buick Lucerne – $4500 rebate
2009 Buick Lacrosse – $4000 rebate
2009 Cadillac XLR, XLR-V – $10,000 rebate
2009 Cadillac Escalade – $6000 rebate
2009 Cadillac CTS-V, DTS, STS, STS-V - $5000 rebate
2009 Cadillac SRX – $4000 rebate
2009 Chevrolet Avalanche, Impala, Tahoe – $3500 rebate
2009 Chevrolet Cobalt – $3000 rebate
2009 GMC Yukon, Yukon XL – $4000 rebate
2009 GMC Envoy – $3500 rebate
2009 Hummer H3 – $6000 rebate
2009 Pontiac (most models) – $4000 rebate
2009 Saturn (most models) – $4000 rebate
Furthermore, low-interest loans are available on all the above 2010 models and 0% APR deals available on all the 2009 models above. Of course, you know that you can accept either the rebates or low interest loans, but not both. With these GM rebates being so large, it is usually better to accept the rebate instead of the loan deal, especially if you need down payment money (rebates count towards your down payment).
You can get free price quotes on any of the above GM vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are available at this time.
2010 Infiniti Deals for January-February-March
Infiniti is currently offering incentives on 2010 vehicle models (and one 2009 model) that end on March 31, 2010 —
As always, Infiniti doesn’t want to be viewed as a “discount brand” and doesn’t offer direct customer rebates. But it does offer dealer cash, which are ”hidden” rebates from the manufacturer to the dealer. The dealer then gives most or all of the money as a price discount to customers.
Infiniti is also offering some generous 0% APR loan rates on all of it’s models for January, February, and March.
Here are the current deals being offered by Infiniti:
2010 Infiniti EX35 – $3000 dealer cash, or 0% APR loans for 12/24/36 months, 1.9% for 48/60 months
2010 Infiniti FX35 – $4000 dealer cash, or 0% APR loans for 12/24/36 months, 1.9% for 48/60 months
2010 Infiniti FX50 – $5000 dealer cash, or 0% APR loans for 12/24/36 months, 1.9% for 48/60 months
2010 Infiniti M35 – $5000 dealer cash, or 0% APR loans for 12/24/36 months, 0.9% for 48/60 months
2010 Infiniti M45 – $6000 dealer cash, or 0% APR loans for 12/24/36 months, 0.9% for 48/60 months
2010 Infiniti QX56 – $6000 dealer cash, or 0% APR loans for 12/24/36 months, 0.9% for 48/60 months
2009 Infiniti G37 – $3000 dealer cash, or 0% APR loans for 12/24/36 months, 1.9% for 48/60 months
You can get free price quotes on any of the above Infiniti vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
Get a Deal on a Hummer in January
As you may know, General Motors will no longer be making the Hummer brand. However, there are Hummers, both 2009 and 2010 models, still around for sale — at great bargains.
Some of the incentives for January 2010 are in the form of factory-to-dealer cash (marketing support) that dealers give back to buyers in the form of a big price discount. Actually, discounts are better than direct rebates because you pay sales tax on rebates, but not on discounts.
Other incentives are offered as direct customer rebates and as 0% APR loans.
Here are the current Hummer deals for January:
2009 Hummer H2 and H2 SUT – $5000 dealer cash
2009 Hummer H3 – $6000 direct customer cash rebate, or 0% APR loan rate for 36/48/60 months
2010 Hummer H3 – $3000 dealer cash
2009 Hummer H3T – $3500 direct customer rebate, or 0% APR loan rate for 36/48/60 months
2010 Hummer H3T – $1600 dealer cash
You can get free dealer price quotes on any Hummer vehicle from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
Dodge Deals for January 2010
Dodge is offering some decent rebates and 0% APR (and low interest) loans on many of it’s new 2010 models. These deals end on 2/1/2010.
Here are the deals currently being offered by Dodge on it’s 2010 models:
Dodge Avenger – $2000 rebate, 0% interest loan for 36-60 months, 1.9% interest for 72 months
Dodge Charger - $2000 rebate, 0% interest loan for 36-60 months, 1.9% interest for 72 months
Dodge Grand Caravan – $1000 rebate, 0% interest loan for 36-60 months, 1.9% interest for 72 months
Dodge Journey – $1500 rebate, 0% interest loan for 36months, 2.9% interest for 48/60 months
Dodge Nitro – $2000 rebate, 0% interest loan for 36-60 months, 1.9% interest for 72 months
Dodge Ram 2500 – $1000 rebate, 1.9% interest for 36/48/60 months
Of course, you know that you can accept the rebate or the low interest loan, but not both. We normally suggest that buyers take the rebate over the loan, but these Dodge rebates are not huge, which means it’s really a toss-up as to which option you take. If you need down payment money, take the rebate.
You can get free dealer price quotes on any of the above Dodge vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
0% APR Loans on 2009 Chevrolets
Chevrolet has announced some very attractives incentives on it’s leftover 2009 models — in the form of large rebates and 0% APR loan rates. Dealers have too much inventory and need to make room for 2010 models.
The current Chevrolet deals are good for January 2010, and end on 2/1/2010.
Here are the current 2009 Chevrolet deals:
Chevrolet Aveo – $1500 rebate – 0% APR loan for 36/48/60/72 months
Chevrolet HHR – $2000 rebate – 0% APR loan for 36/48/60/72 months
Chevrolet Colorado, Equinox, and Malibu – $2500 rebate – 0% APR loan for 36/48/60/72 months
Chevrolet Cobalt – $3000 rebate – 0% APR loan for 36/48/60/72 months
Chevrolet Avalanche, Impala, Silverado 1500, Trailblazer, and Traverse - $3500 rebate – 0% APR loan for 36/48/60/72 months
Chevrolet Corvette, Suburban, and Tahoe – $4000 rebate – 0% APR loan for 36/48/60/72 months
As a reminder, the above deals allow you to accept either the rebate or the 0% APR loan, but not both. Generally, it’s better to accept the rebate, especially if you need down payment money.
You can get free dealer price quotes on any of the above Chevrolet vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
BMW Deals for January-February 2010
BMW has announced new incentives for January 2010, mostly in the form of low-interest financing. However there are also several cash rebates and some big factory-to-dealer cash on a couple of models. We see no special lease deals on the table at this time, although this could change later.
BMW’s new incentives are good during January and February 2010, ending on 3/1/2010. All incentives discussed here apply to 2010 BMW models.
Low-interest loans being offered are listed here:
BMW 1-Series, 3-Series, 5-Series, M5, and Z4 – 2.9% APR loan rate for 24 and 60 months
BMW X3, X5, X6, and 7-Series – 3.9% loans rate for 24 and 60 months
Additionally, a direct customer rebate of $4500 is being offered on diesel models.
Finally, an incredible $12,500 factory-to-dealer cash is being offered on the BMW M5. A similar incentive of $7500 is being offered on the BMW 550i.
BMW is typically very reserved in offering incentives (it doesn’t want to be viewed as a “discount” brand) so, if you are interested in a BMW, this might be as good a time as any to make your move.
You can get free dealer price quotes on any BMW vehicles from Edmunds.com.
The quotes will automatically include any cash-back rebates or discounts that are currently available.
How to Lower Your Car Insurance Cost
Auto insurance is one of those necessary evils of owning and driving cars. Most states require at least some liability insurance to protect other people in case you cause an accident. Although the laws don’t require you have collision or comprehensive coverage, most auto loan companies and banks do.
Keep in mind that car insurance costs can vary widely between insurance companies for the same car and same individual. And rates change frequently. The cheapest insurance company this year might not be the cheapest next year. The company that has the best rates for a young driver may not have the best rates for an older driver. The company that has the lowest rates in one city and state may not have the lowest rates in another city and state.
So how do find the cheapest auto insurance rates?
Simple. You ask for rates from a number of different companies, compare them, and go with the most affordable. Insurance quotes are free and there’s no obligation to accept any of them. Then, in about a year, you do it again because rates can change in that timeframe.
Understand that auto insurance companies have a complicated risk-based system that determines rates. Rates are based on the age of the insured, his driving record, where he lives, where he drives, how much he drives, for what purpose he drives, the make/model/age of his vehicle, if he has other insurance with the same company, and his credit score. Yes, many insurance companies have determined that people with poor credit scores are more likely to submit car insurance claims, and therefore should pay higher insurance rates.
How much insurance should you buy?
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What is Gap Insurance? Why is it Important?
Many car buyers (and leasers) have never heard of gap insurance. But it should be an important consideration in any car buying or leasing process.
What is gap insurance? Why would you need it?
Let’s say you bought a new car and paid $30,000. You made $2000 down payment and financed the remaining $28,000 with an auto loan, for 60 months. With five years to pay, your monthly payments are relatively low but those payments don’t keep up with the rapid depeciation in value that your car experiences.
So, for most of your payment term you are “upside down,” which means at any point in time, your loan balance is more than the current value of your car.
You then have an accident in which your car is totaled, or your car is stolen. Your insurance, or the at-fault party’s insurance, will only pay the current value of the car, not what is still owed on your loan. The difference is called the “gap.” Without separate gap insurance, you are responsible for that difference, which could be thousands of dollars.
Many people in this situation are shocked to learn that their insurance doesn’t pay the full amount of the loan payoff. Some also think, if the accident was caused by someone else, that the other person is responsible for the loan payoff. Not true.
Gap insurance was not something needed in the “old days” of car buying. Buyers usually made a healthy down payment — at least 20% — and paid off their loans in no more than 3 years. They also didn’t roll over balances on trade-in vehicles as is common today.
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