Low interest and dealer incentives on new car


There are some odd things going on in the
car market right now and I want to make sure you’re aware of to get the most value for
your dollar. First, a lot of cars are a real deal at a time that SUV’s and pick-up trucks
are not at all because as the gas prices dropped more and more people are buying big gas guzzler
kind of vehicles and the prices of those because they’re in such demand going up and up and
up and at the same time unloved fuel efficient vehicles of any kind, particularly hybrids,
sitting on the lots. So we’ve got this big-time split in the car market that you can exploit
if you’re willing to buy something that others don’t want. Another example, mid-size cars
are not really selling in the numbers that the car makers would like right now, offering
a lot of deals. So how about financing that? Although the supply of used cars has increased
a lot lately and they’ve become more of a deal, if you’re going to take out a loan on
a car, the loan terms available on new cars are much, much, much better right now than
on a used car. So even though a one or two year old car may be at a better price you
may ultimately end up paying less because the loan would be so much cheaper on that
new car. I’m Clark Howard.

About the Author: Michael Flood

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