While the new car market is rebounding slowly, automakers are trying some interesting tactics with their incentives. They’re trying to boost sales, but also trying to hold down costs -- which means October new car incentives aren’t as good as the incentives offered this summer.
While you can still get great financing offers -- as low as zero percent from many carmakers, cash back offers have dwindled. It’s all part of a trend: In September, Edmunds estimates, new cars had an average incentive of $2,576. That’s a decrease of 4.6 percent from August.
| More from U.S. News & World Report » Best Lease Deals: October 2010 » Best Used Car Deals: October 2010 |
The best discounts and incentives tend to be on 2010 model-year cars, since car companies need to clear out the 2010s to make space for the 2011s. Better incentives on 2010 models seem to be working for some companies. Edmunds says that General Motors offered better incentives on its 2010 models and dramatically reduced its inventory of 2010 model-year vehicles. By contrast, Toyota’s incentives on 2010 model-year vehicles aren’t much different than its incentives on its 2011s. As a result, Toyota still has many 2010s sitting on dealer lots.
As you can tell from the mixed sales and incentive data, new car discounts and deals vary by manufacturer. Most are offering some form of low- or no-interest financing, which is a great deal if your credit is good enough to qualify for it. Some car makers, like General Motors, Jeep and Ford, are offering cash back on some of their cars. While you typically save more with zero-percent financing than with a cash back offer, anyone can qualify for cash back, regardless of credit score. Taking advantage of financing offers typically requires excellent credit.
|
The best car deals for October are below.
However, don’t limit your shopping to just this page -- we’ve got the best deals for Toyota, Nissan, Ford, Honda, Chevy, Lexus, Infiniti, Jeep and Chrysler. We also have this month’s best lease deals and best deals on used cars. There’s a great deal out there for you, and we’ve done the research to help you find it.
Volkswagen GTI: 0% APR for up to 36 months in most regions
The Volkswagen GTI is well-loved by driving enthusiasts for its ability to make an everyday commute feel like a day at the track. With taut handling, a strong engine and a surprisingly practical interior, the GTI hits all the right notes. Its starting price is a little high compared to other small cars, but most reviewers say the GTI’s performance is worth the money. This month, Volkswagen is offering the GTI with zero percent financing for up to 36 months, which should take some of the sting out of your wallet. If the GTI is still too rich for your blood, check out the 2010 VW Golf. While the Golf isn’t quite the performer the GTI is, it’s still very good -- and it’s also available with zero-percent financing for up to 36 months, making it an even better deal.
Chevrolet Malibu: 0% financing for up to 60 months or $2,000 cash back
The Chevrolet Malibu is easy to overlook because it competes in the hyper-competitive class of affordable midsize cars. Overlooking it would be a mistake, though. The Malibu offers comfortable front seats, a stylish cabin and it ranks above class stalwarts like the Toyota Camry and Honda Accord. Through the beginning of September, you can choose between cash back or no-interest financing on the Malibu.
Infiniti M: 1.9% APR for up to 60 months
Redesigned for 2011, the Infiniti M is one luxurious large car. It's yet to be extensively tested, but so far auto critics are impressed -- especially with its four-wheel steering system, more luxurious interior materials and long list of in-cabin technology. And when it comes to safety, the M has that covered too. It can be equipped with a blind spot warning system that will actually take over steering to avoid a dangerous collision. For a limited time, Infiniti is offering the M for 1.9 percent APR for up to 60 months. Contact a dealer to get behind the wheel.
Nissan Xterra: 0% APR for up to 60 months in most regions
In the market for a capable compact SUV? The Nissan Xterra can handle all your gear and take you off road -- no problem. At 15/20 mpg to 16/20 mpg (depending on drivetrain), the Xterra doesn't offer the best fuel economy in its class, but its utilitarian design does ensure plenty of function and fun. Nissan is offering the Xterra for zero-percent financing for up to five years in most parts of the country. In other words, make all your payments on time and never pay a penny of interest. Contact a dealer to test drive an Xterra today.
Honda Accord Crosstour: 0.9% financing for up to 60 months
Okay, Okay -- the Accord Crosstour isn't a full-on midsize SUV. It's definitely more of a crossover/wagon. Still, with its standout shape, smooth drive and luxurious interior, if you need a little bit of practicality to go with your style, the Crosstour should be on your list, especially with the low financing rates Honda is offering.
Mazda CX-9: 0% APR for up to 60 months
There’s a reason the Mazda CX-9 is known as the zoom-zoom with room-room: The CX-9 can seat up to seven but drives like a sedan – not a heavy SUV. The CX-9 has a powerful but relatively efficient engine, plus handling chops that make driving to soccer practice almost exhilarating. Car reviewers also like the CX-9 for its comfortable interior (though the third row seat is best for kids) and optional cabin electronics that can keep everyone safe and entertained. For October, Mazda is offering the CX-9 with zero-percent financing for up to 60 months. That means you can have fun driving the carpool and still leave some money in the kids’ college funds.
Chevrolet Corvette: Up to $5,000 cash back or 0% financing for up to 72 months
Right now you can get either $3,000 cash back on a 2010 Corvette or zero-percent financing for up to 72 months. The Corevette is already a performance bargain compared to other luxury sports cars, and low financing or cash back only sweeten the deal. Even better than the look on some Porsche driver's face when you smoke him is the fact that deal applies to many Corvette models. So, coupe, convertible, Z06, Grand Sport -- which will it be?
No comments:
Post a Comment