If you’re in the market for a new family car and haven’t made the deal yet, you might find that the attractive incentives automakers have been offering are few and far between. In fact, it’s due to the record incentives that car sales are up.
This is a good news, bad news situation. As our sister publication TheCarConnection points out, increased car sales means that consumers have more confidence in the economy. With less inventory on the lot, automakers are cutting back on incentives. Smartmoney reports that Ford’s incentive spending for October fell 13 percent, while Honda’s dropped by slightly more than 10 percent. Ford plans even further rebate cuts for November.
Does this mean there are no deals out there, especially if you really need to buy a car? No, but it does mean you’ll likely have to look a lot harder to find them. Keep in mind that consumers with excellent credit can still get some great financing deals, thanks to the current record low interest rates.
There are some good family car deals to consider:
- 2012 Buick Enclave – 1.9 percent financing or $1,500 cash back, good through January 2, 2012.
- 2012 Nissan Altima – 0.0 percent financing for up to 60 months or $1,250 cash back, good on sedan only, offer expires November 30, 2011.
- 2012 Ford Fusion -- $2,000 cash back or zero-percent financing for up to 60 months, offer available in Southeast, Southwest, Northwest and West, expires January 2, 2012.
On the other hand, if you can’t find what you want that works for the family budget right now, consider holding off buying until next month. Automakers traditionally roll out attractive incentives in December to close out the year. If you can wait, this may be a strategy that can save you money.