Deals on new vehicles are definitely out there for buyers in every part of the country. The government “cash for clunkers” program, matching dealer incentives and cash back programs are available everywhere. Only recently has there been talk about what happens after the sale when the monthly car note must be paid.
Many consumers have an older car they’d like to trade in for a newer model or a gas guzzler they’d like to exchange for a smaller, more fuel efficient vehicle. Buyers are in the market for wallet-friendly as well as eco-friendly new rides that they can get a good deal on. So, is it possible to get a great deal on a new car without regretting it later?
The answer is yes, if you are willing to do a little number crunching before you do the deal. Figure out what you can afford each month for a new vehicle. Consider leasing as well as buying. Make cutbacks in unnecessary expenditures if you have any, and weigh your options. If you decide that a new vehicle is what you need, you may need to make some adjustments in your spending.
There are some great cars out there with very low monthly lease payments, such as the Toyota Corolla. Toyota is still making lease deals, and you can get a lease for $149 a month on a Corolla in certain regions of the U.S. Those who qualify for the $4,500 “cash for clunkers” rebate can get a 60 month lease for $999 down and only $99 per month.
The Yaris, also from Toyota, is a smaller car that’s practical and fun to drive. The lease offer in some regions is 36 months for $129 per month, with an even better deal for “clunker” rebate qualifiers. If you use the $4,500 rebate it drops your lease payment to $79 a month for 60 months.
Nissan is also offering a $199 per month lease for 39 months in some regions on the Altima. The Altima is considered a sportier, mid-sized alternative to the Honda Accord or the Toyota Corolla.
Another great vehicle available for lease is the Honda Accord. The Accord is a very popular, spacious car with superior performance and reliability. Honda is advertising lease deals for 36 months on the Accord with $2000 down and lease payments of $199 a month. The Accord is a great choice if you need a low lease payment and a sedan with room enough for five.
If you’d like to buy rather than lease, GM has a deal for you on the Chevy Cobalt, which has been wildly popular with buyers using the “clunker” rebate program. If you qualify for zero-percent financing for five years, the deal is sweet: $261 per month with no down payment. If you qualify for the government rebate, it’s an even sweeter $186 per month.
So before you go shopping for that new car or truck, doing a little math will keep your dream car from becoming a financial nightmare down the road.