Car Deals Outlook – August 2010
The best car deals and incentives for August 2010 will be on “leftover” 2010 models, now that many 2011 models are already out.
Dealers need to get rid of the older models to make room for new models. Money is tied up in the old models and that money needs to be retrieved to buy new models.
Car manufacturers help dealers sell leftover models by providing factory-to-customer rebates, low interest loans, special lease deals, and hidden factory-to-dealer cash that dealers can use to reduce prices.
We’ll see plenty of that kind of help in August and September of this year.
What this means is that August and September are two of the best months of the year to buy a new car. Some incredible deals can be had.
Let’s look at some examples of the kinds of deals we can expect:
BMW will be offering extremely low interest loans (although not quite 0%) on 2010 models such as the 6-Series, M6, X3, and some 5-Series. Factory-to-dealer cash as high as $10,000 (6-Series and $7000 (5-Series and M5) will also be available. Some excellent lease deals will be available on the 3-Series.
Chrysler will have rebates in the $2000-$1000 range on nearly all 2010 models — as well as 0% APR loan deals on nearly all 2010 models. Dealer cash of approximately $1000 will be offered on some models.
Ford will offer customer rebates in the $500-$2500, depending on model for 2010s — or 0% APR loan deals on nearly every 2010 vehicle. Dealer cash in the $3000-$6500 range will be available for many 2010 Ford models, especially Lincoln and Mercury.
General Motors, for 2010 models, will promote rebates as high as $4000 on some models (even higher for trucks) and low interest loans, including some 0% APR on selected models.
Honda will have low-interest loans on many 2010 vehicles.
Hyundai-Kia will offer rebates in the $1000-$2500 range, depending on specific 2010 model.
Land Rover will offer low interest loans.
Mercedes will offer low interest loans.
Mitsubishi will have rebates in the $1000-$4000 range for leftovere 2010 models.
Nissan will have rebates in the $1000-$4000 range (higher for Titan and Armada) and 0% APR loans for most 2010 models. Dealer cash in the range of $1000-$4500 will be available for all 2010 models.
Toyota will have modest rebates and 0% APR loans on most 2010 models (Toyota incentives are subject to change quickly). Factory-to-dealer cash of $1000-4500 will be available.
Volkswagen and Audi will offer low-interest loans, including some 0% APR. Factory-to-dealer cash of $2000-$6000 will be offered on 2010 Audi models.
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.
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