Leftover 2008 Models for Cheap
Even though we are in the 2009 new-car model year, with many 2010 models out, many dealers still have 2008 leftover vehicles.
As a result, there are some tremendous bargains to be had. In many cases there are few if any differences between the 2008 and 2009 models, so you don’t sacrifice anything by paying a much lower price for a one-year old model that is still a brand new car.
Dealers have to get last year’s models off their lots to make room for new models — and have money to buy new models. Manufacturers must keep factories operating and must keep shipping cars to dealers to stay alive. They can’t keep shipping cars to dealers who already have too many cars, many of which are last year’s models.
Here’s the reasons why 2008 models are so cheap right now:
1. Carmakers are offering heavy incentives (rebates, low-interest loans, and lease deals) directly to customers to incent them to buy or lease the older models. The incentives on the 2008 models are larger than on 2009 models.
2. Carmakers are giving dealers cash (marketing support) to use as they like to help move remaining 2008 models. Dealer’s can buy advertising or give all or part of the money to customers as price discounts.
3. Dealers are offering their own added discounts on top of manufacturer incentives because the longer a 2008 car sits on the lot, the more money they pay in loan interest, insurance, upkeep, and taxes.
So, with the combination of factory-to-customer incentives, factory-to-dealer cash, and dealer discounts, there are outstanding bargains out there waiting to be taken, no negotiation required.
Here are some examples of the juicy factory-to-dealer cash that helps reduce prices on 2008 models:
Land Rover Range Rover – $12,000 per vehicle
Land Rover LR3 – $8000 – $11,000 per vehicle
Lexus LX460 - $7000 per vehicle
Honda Civic Hybrid – $2000 per vehicle
Jaguar XJ Series – $13,000 – $15,000 per vehicle
Infiniti EX35, M35, M45 – $5000 – $7000 per vehicle
Models, rebate amounts, and conditions may change depending on how many 2008 vehicles still remain in manufactuer and dealer inventories.
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.
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
[...] far, the best deals are on left-over 2008 models (see Leftover 2008 Models for Cheap). We’re not talking about used cars here. We’re talking about brand new 2008 vehicles [...]
[...] Since this is the time of year when many 2010 models are being released, you can expect to see incentives on both 2009 and 2010 models at the same time. However, the best incentives will be on 2009 models, especially when dealers and manufacturers have excessive inventory and need to make room for new 2010 models. If you are looking for the absolute best deals, there are actually many leftover 2008 models still around. See our article, Leftover 2008 Cars for Cheap. [...]
Sorry, the comment form is closed at this time.
[...] GM (Chevrolet, GMC, Buick, Saturn, Saab, Hummer, Pontiac, and Cadillac) – cash-back rebates that range from $1000-$2000 plus $1000-$1500 bonus cash on most 2009 models and styles. As an alternative, 0% loans are also being offered on most models for 12, 36, 48, and 60 months. One deal worth noting is a $5000 rebate, plus $1000 bonus cash on the Hummer H3. And $8500 plus $750 on the Saab 9-3 — what a deal! There are still many, many leftover 2008 models that have incredible rebates (see Leftover 2008 Cars for Cheap). [...]