Once again, dealers are slimming down inventory by adding enormous cash rebates on the slow sellers and offering the lowest of low financing rates and lease deals on the more popular vehicles in order to hit year-end sales goals and earn bonuses from the manufacturers.
New car sales have been steadily rising, and consumers in the market for new cars this time of year can find unbeatable deals between now and January 1. The best deals will come from GM, Ford, Chrysler, Nissan and VW brands of select 2013 models, especially those being replaced by new 2014 designs. Even the “green” cars have some fantastic rebates, such as the 2013 Volt and Mitsubishi’s i-MiEV. Buyers can negotiate excellent prices, get new features added free and still qualify for fantastic rebates.
There are drawbacks, of course. Consumers may have to settle for whatever colors are available or settle for features that they might have not otherwise chosen. Unpopular models will have the lowest prices and best discounts, and the most popular vehicles will still be fetching close to the sticker. It’s up to the buyer to negotiate, as always.
As the days between now and January 1st dwindle, the deals will only get better. Between Christmas Day and New Year’s day, buyers can expect to enjoy the sweetest deals on new vehicles. Experts say that the best day to shop for a new car is New Year’s Eve, and the next-best days are December 27-30th, especially Christmas Eve, when shopping crowds are thin.
There are some excellent leasing deals to be had during this time of year as well, for those who prefer not to buy. Leasers can enjoy excellent deals due to high resale values and low interest rates, but having a perpetual car payment isn’t for everyone. An example of a great year-end leasing deal is one dealer that was found leasing a Honda Accord for $199/month for $1,999 down and 12k miles/year. Another excellent find was a VW Jetta for $189/month for 42 months with no down payment.
The bottom lines is that the last day of the year will get the buyer the best deal of the year on a new car, says Kelley Blue Book analyst Alec Gutierrez.