This is a great time to buy a car. Dealer lots are full and salesman are ready to deal. But once automakers help balance out dealer inventories to sustainable levels, the incentives and willingness to negotiate will be reduced.
Consumers are holding off on making purchases, and almost every brand has seen a devastating drop in sales. The impact has been catastrophic, resonating through the full industry from factory to showroom, and hitting thousands of businesses in between. Combined, this historic downturn is creating unusual circumstances for the estimated 10 million consumers projected to be in the market for a new car this year. There are deep discounts available on cars today, but to make sure you get a great deal, rather than just accomplish the noble goal of stimulating the economy, do your research and proceed cautiously.
Car Buying In Winter 2009There hasn’t been a more unusual time to buy a new car in this century. Hundreds of car dealers have closed their doors, and, sadly, many more will likely follow. Those that remain open are literally overflowing with inventory. Trade-in values are lower than when you bought your last car. Lease deals are harder to find and generally less appealing than in the past. And traditional financing is hard to get.
This is a rare moment in time, and one that may pass before summer. Right now, automakers have pulled the emergency brake on production, working to desperately balance out inventory with demand. The effect will be to bring down the dealer inventories to sustainable levels, at which point the incentives and willingness to negotiate will be reduced. (See the Best New Car Deals on Consumer Reports Recommended cars.)
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