So, you are in the market for a new ride, but you want the best deal possible. The easiest way to find deals and incentives is to scour automotive websites for a rebates or special offers section.
When you get deep into the car shopping process, at some point you’ll likely winnow your choices down to a few prospects that, all things considered, are not that dissimilar. That’s when vehicle incentives and rebates can help you make a choice.
Assuming of course, you know how to find manufacturer-offered deals.
Types Of Vehicle Incentives
Before you start looking for deals, it’s good to know exactly what you’re looking for. First off, there are three main types of incentives and rebates: financing deals, lease incentives, and cash-back deals.
Financing deals usually mean a lower interest rate when you take out a loan for your soon-to-be new ride. Such offers usually require the buyer to have a stellar credit score and obtain financing through a specified lender. Also, you probably have to choose between special financing and a cash back incentive, so the best bet is to determine which offer is the best for you overall.
As for lease incentives, those usually feature a lower monthly payment amount or discounts on the up-from lease payment. Cash back, meanwhile, is a bit of a misnomer. In lieu of forking over cash after you buy your vehicle, the dealer or manufacturer simply discounts the car’s price.
How Do I Find Available Rebates And Incentives?
Say you are looking for Ram deals on a new truck. The first stop is the manufacturer’s website. In fact, most automakers will have an online section dedicated exclusively to specials. That space is typically updated monthly, so it’s a good idea to be current on all the incentives in which you have an interest.
You also can hit up the dealership and ask about any incentives they might offer. In general, dealers will be candid about telling you whether there are rebates or special offers to be had on vehicles – IF you ask. In other words, while some incentives are highly advertised, others are secret and call for some digging.
Another idea is to go to websites that compile in one place the best incentives, offers, and rebates for popular vehicle models. Resources such as Kelley Blue Book and U.S. News update their choices monthly.
In addition to dealerships, automotive companies may also offer special lease programs through their own finance firms. Known in the industry as sub-vented or subsidized leases, these programs can be found on websites such as Edmunds.
Continue To Negotiate
After a bit of searching, you’ve found the desirable rebate or offer on the vehicle of your choice. You can usually still negotiate the vehicle’s selling price too. Just proceed on the assumption that you are going to get the incentive at the advertised value and negotiate pricing as usual.
Now that you know how to find manufactured-offered deals, and you are up to speed on what the various kinds of incentives entail, you are ready to get the best deal on the ride of your choice. When it comes to car buying, knowledge is certainly power.
Just make sure that you read the fine print on any special offer from a manufacturer or dealer, since such promotions are typically aimed at consumers with great credit. Don’t be discouraged though, you can almost always find a good deal, even if you don’t have an A+++ credit rating.