Shopping For The Best Car Deals In December

Many shoppers around the nation either missed or decided to stay home during the Black Friday sales events. However, there are still many great opportunities to buy something you want at a discounted price. This is just the same for car deals. Many car dealerships will try and get much of their stock sold before the end of the year. For customers looking to buy a new car, this can mean a great deal for them. Car rebates and incentives are at an all-time high at the end of the year. This is according to Brad Korner who is the general manager of the Cox Auto Rates and Incentives for Ann Arbor, Michigan. Cox company owns the popular car shopping websites such as Auto Trader and Kelley Blue Book.

Many of these great deals will quickly disappear as soon as January comes. For car shoppers who already know that the best deals come at the end of the month, they know that the end of the year is an even better time to score a great deal on a new vehicle. To compare, it is much like buying something such as Christmas wrapping paper in January. An auto dealer in Michigan says that his biggest months for selling cars has always been in the month of December.

Car companies are generally concerned about clearing out a lot of their inventory before the new year. This helps them to hold onto their market share. In the United States, the amount of auto sales has been down in 2017. This was the first declining year since 2009 when both Chrysler and General Motors had to file for bankruptcy. Thankfully, demand for new vehicles still remains relatively healthy for the time being. Some experts are forecasting that the sales here in the United States will hit above 17 million in cars and smaller trucks. This is down from the record of 2016.

Cash Incentives And Generous Rebates

Many car makers and dealers have been offering lots of incentives for the end of 2017. A lot of the 2018 vehicle models are coming with great rebate offers. However, the best deals are generally set aside for the older models which they are trying to get rid of. In December, the bigger rebates are typically saved for the slower-selling vehicles such as hybrids, sedans, luxury cars and electric vehicles.

Zero-Percent Financing

The policymakers for the federal reserve are very likely to raise rates soon. However, many experts are anticipating that zero-percent financing may continue to get offered to customers from the automakers. Generally, buyers with less-than-perfect credit will not get this type of financing offer. However, some shoppers who have low credit scores but excellent car repayment histories might still be able to qualify for the special financing. In order to compare the best financing options, it is best for shoppers to get pre-approval on their car loan before even heading to a dealership.

Lease Pull-Ahead Programs and Deals

According to the Detroit Taylor Chevrolet general manager, the Chevy lease loyalty program has more than doubled to around $3,500 on much of their vehicles for December. Compared to the last few months, the discount was only up to $1,500 on the same vehicles. The discount is applied to the down payment on a new car loan. In order to qualify, buyers need to have a current lease on a Buick, GMC, Cadillac or Chevrolet car or light-duty truck. An added benefit is that this incentive can be transferable within a household. This lease loyalty program can be applied to some 2017 and 2018 models. For consumers who are close to having their leases maturing, they are given strong incentives to get back to the market as well.

Extra Hot Deals Right After Christmas

The week after Christmas is the last week of the year. This is the best time throughout the whole year to get a great deal and some incentives on a new or used car purchase. Smart shoppers should be wise and take test drives and scope out features of vehicles they are interested in before the end of December. You will want to ensure that you find the right car and deal for your needs.

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