July 2009 Best New Car Deals
CarDealers-06-ER.jpg, originally uploaded by EricReedPhoto
The big Christmas in July Sales are here, and if you’ve got a clunker currently sitting in your driveway, the dealers are going to be flashing dollar bills in the attempts to entice it to the crusher. Yes, the Cash for Clunkers program is on its way this July 23rd, so be prepared to be bombarded by advertisements galore.
Truth be told, there will be some decent deals, but you are going to have to do some fine reading between the lines to make sure they are worth it. Dealers are planning on taking full advantage of the governments generosity and bring as many clunker wielding customers onto their sales floor as they can, but $3,500 to $4,500 will only go so far.
Be on the watch for any gimmicks where you are offered a “low ball” payment for the the first couple years on your loan, only to be required to pay the remaining balance at the end of that term, which could equal thousands of dollars if you are not careful. Remember what happened to all those balloon mortgages that started this mess in the first place, well, the same thing can happen your new vehicle. Don’t let it!
June sales reports are suggesting the worst is behind us and that vehicle sales will begin to slowly increase. If this is true, we can certainly expect the decent deals to dwindle in place of what used to be dwindling car sales. It won’t be a night and day change mind you, but there is a good chance that this months deals will be noticeably better than next months.
With that said, let’s take a look at some of the highlights for the month of July 2009:
Audi-
No great deals here I’m afraid.
BMW-
The 0.9% APR financing has been taken away for this month, but you can still get in on the 2.9% APR (36 month term) gravy train for many of their popular models. Offer lasts on through to the end of summer, August 31, 2009.
Buick, Cadillac,Chevrolet, GMC, HUMMER, Pontiac, Saturn, Saab-
If you are looked for bargain basement 2010 Chevrolet Camaro, you might as well set your calendar to a year from now, as most people are paying $500 to several thousand over list price. However, GM’s other cars, trucks, and SUV’s are saturated with discounts and various cash-back offers. The only problem is, you can’t combine these discounts. 0% APR will be attainable in designated areas, and these deals are set to run through the end of July, 2009.
Chrysler, Dodge, Jeep-
What’s that you say, you don’t have a clunker to trade-in. Well not to worry, Chrysler, Dodge, and Jeep have got you covered with up to $4,000 cash-back on various popular models. Offer lasts through July 31, 2009.
Ford, Lincoln, Mercury-
Ford is armed for bear this month with a slew of discounts and deals to entice new customers onto their lots. First, they are offering up to $5,000 cash-back on many 2009 models. Second, 0 % APR financing to qualified customers for terms of up to 60 months. Third, they still have the Ford Advantage Plan in effect, which is Ford’s answer to the fear of losing your job after taking on another $600/month loan payment. To your best advantage, however, if you are at all in doubt of keeping up with your payments, stick with your old affordable clunker! (Offers expire August 3rd, 2009)
Mercedes-Benz-
MB does one up on BMW with 1.9% APR financing for terms up to 36 months on many popular models. This is the same exact deal offered last month, so at least we can say that they are consistent. This offer is set to run through the end of July, 2009.
Toyota-
Toyota holds steady with cash-back incentive of up to $4,000 on popular models, as well as 0% APR financing with no limit on loan term. Toyota is still wiggling their toes in the waters, counting the number of nibbles, and has not yet set an expiration date to any of these deals.
Mazda-
Mazda has got some great incentives this month, consisting of discounts and cash-back offers on most models, and best of all, these deals can be combined (ahem, you hear that GM). On the financing spectrum you can expect somewhere between a 0 to 1.9% APR for terms up to 36 months. These offers will remain until the end of July, 2009.
Volkswagen-
Not much here to write home to Mom about!
Don’t forget, you only have until the end of July for most of these deals, so its best to get out there… while the gettin’s still good!
Source:
U.S. News & World Report: Best Car Deals, July 2009
