Best Car Deals - November 2008

By Sean Tucker ---- Updated: 11/19/2008

Carmaker

Car Deal

Expires
BMW 0.9% APR financing on most 2008 models 1/5/09
Buick, GMC,
Cadillac, Chevrolet,
HUMMER, Pontiac,
Saturn, Saab		 Red Tag Event Sale
10% off "no haggle pricing" on most cars, plus cash back offers on many models		 12/31/08
Ford Employee pricing discounts, can be combined with 0% financing offers on many 2009s 1/5/09
Hyundai 0% Financing for 36 months on most cars, or cash back offers up to $4,000 12/1/08
Infiniti 0% Financing on 2008 models 12/31/08
Jeep Up to $6,000 cash back on selected models TBA
Kia 0% financing on 2008s

Up to $5,000 cash back on Sedona, Sorento and Amanti		 1/1/08
Nissan 0% financing on 2009 Versa, Sentra, Altima, Rogue and Murano 12/1/08
Mazda 0% financing on most vehicles 12/1/08
Toyota Up to $5,000 cash back on pickups and SUVs

0% financing on most 2008s and 2009s		 12/1/08
Volkswagen No money down, no money due at signing and the first month's payment is free on 39-month leases on all 2009 VW models. 12/1/08

November Car Deals and Prices

Christmas comes early this year for car shoppers.  The automakers are on Capitol Hill, and on the front page of your newspaper, begging for cash this month.  They're in that position because car sales are so slow -- so buyers who actually walk into the door of a dealership with cash, trade-in keys or a decent credit rating are worth their weight in gold.

In all the time we've been tracking car deals, we've never seen a month like November 2008. 

General Motors has moved its usual holiday special -- the Red Tag Event -- to begin November 1st this year.  That means no haggle pricing and ten percent discounts on everything GM makes.  Ford is offering employee pricing to everyone, interest-free financing and cash back deals. Toyota, known for being stingy with incentives, is now offering zero percent financing for the first time in its history.  Not to be outdone, Nissan has followed suit, with zero percent financing available on some of its most popular models.  Even BMW is in on the act with low-rate financing offers. With many offers, buyers have a choice between zero percent financing or cash back.  Before you decide which deal is you, make sure you run the numbers to see if zero percent financing will really save you money.

Whatever automakers tell the press about car prices, keep in mind that the best incentive may be the one you negotiate yourself.  Dealers are reporting a 50 percent drop off in showroom foot traffic as compared to last year.  Low traffic means low sales and the potential to negotiate a great deal for the remaining buyers out there. Also, more and more 2009 models are hitting dealer lots, which means they have a need to unload the remaining 2008s. Before heading out, be sure to check out our guide to negotiating in a down market and use our online tool to get price quotes from multiple dealers.

The Best Deals we found in November are listed below:

Small Cars


MSRP:$12,990-$16,210
Invoice:$12,539-$15,634		 2009 Versa 1.6 sedan: $9,990 plus 0% Financing for 36 Months
$148.57 per month.  That's the least you can pay to own a new car in America right now.  The Nissan Versa 1.6 Sedan is the only car for sale under $10,000, and it's available interest-free right now.  Sure, it's a stripped-down model with a manual transmission, no A/C and no radio.  But it's pre-wired for a radio you can easily buy at Circuit City (okay, they went belly-up -- make it Best Buy, then), and you can drive a new car for less than some people's cable bills.  The Versa gets high marks for an interior that feels nicer than a $10K car should -- and with six airbags, it's far safer than the budget cars of the last recession.
Also worth a look: The 2009 Honda Civic is no stripped-down economy car.  It's available with leather seating, satellite-linked navigation, satellite radio, remote start -- in other words, most of the equipment you'd hope to find on a luxury car a few years ago.  In November, it's available at just 1.9 percent financing -- and even though many competitors are offering 0 percent, none are offering a nicer car.
Get free, competing car price quotes on a 2009 Versa 1.6 sedan using our new dealer quote tool

Midsize Cars


MSRP:$18,135-$24,750
Invoice:$16,943-$22,716		 2008 Ford Fusion: Employee Pricing plus 0% APR for 60 Months
One serious drawback to most interest-free financing deals is the short term of the loans. Monthly payments on a 36-month loan, even without interest, are still out of reach for many people.  But Ford is offering the 2008 Fusion interest-free for 60 months.  That brings payments low in the short term, and without interest, keeps the long-term investment in the car low as well.  The Fusion is one of our highest-ranked midsize cars, escapes the cookie-cutter look of most competitors and allows drivers to have some fun in the corners.
Also worth a look: The 2008 Infiniti G35 nearly outduels the famous BMW 3-Series in many tests.  It's luxurious inside, offers all the safety equipment you could ask for, and you can tell the car has soul - its engine has a hard edge of raw power that's too often refined out of luxury cars, and it's agile in corners.  But the G35 is on its way out, to be replaced by a more powerful G37 for 2009 - so Infiniti dealers are offering interest-free financing on the remaining G35s.
Get free, competing car price quotes on a 2008 Ford Fusion using our new dealer quote tool

Compact SUV

MSRP:$21,500-$27,070
Invoice:$19,888-$24,632		 2008 Toyota RAV4: 0% APR for 36 months The RAV4 ranks as one of the best small SUVs on the market.  It offers bulletproof Toyota reliability, strong safety scores, and the fuel efficiency of a midsize car combined with the carrying capacity of a sport ‘ute.  Toyota's current zero percent financing offer - the first time the automaker has ever offered such a deal - puts the RAV4 in reach of many buyers.
Also Worth a Look:  The 2009 VW Tiguan The Volkswagen Tiguan hits the market with a sportier persona than most compact SUVs, making it appealing for families who want to avoid dull family cars.  Its upscale interior and German pedigree is also sure to please   This month, VW is offering 39 month leases with no money down, no money due at signing and a free first month.  With that deal, the Tiguan will run buyers $359 a month. 
Get free, competing suv price quotes on a 2008 Toyota RAV4 using our new dealer quote tool

Midsize SUVs

MSRP:$28,745-$35,895
Invoice:$25,672-$33,274		 2009 Hyundai Veracruz: $4,000 cash back
If your family is large enough to require three rows of seating, the Veracruz might be a good choice for you.  It's an Insurance Institute for Highway Safety "Top Safety Pick," and with a 10-year/100,000-mile powertrain warranty, your protection in a Veracruz is much longer than with many competing models.  In November, the Veracruz is being offered with a $4,000 cash-back rebate or zero percent financing for 36 months - and Hyundai's longer-term financing rates are low enough (below 2.9 percent in most cases) that using the rebate as a down payment makes this an affordable choice for many shoppers.
Also Worth a Look:  The 2009 Chevy Traverse is brand new on the market, but it shares most of its parts with the Buick Enclave - which automotive writers consider one of the best midsize SUVs money can buy.  The Traverse, according to some, is an even better vehicle, and has one of the best fuel economy ratings of any eight-passenger car on the market.  With GM's Red Tag Event starting early this year, the Traverse is available for 10 percent off its MSRP.  But additional incentives can drop the price another $2,750, or even $3,750 for those who already own a GM vehicle.
Get free, competing suv price quotes on a 2009 Hyundai Veracruz using our new dealer quote tool

Large SUV

MSRP:34,630-$39,560
Invoice:$31,686-$36,197		 2008 Chevy Tahoe: 10% Discount plus up to $7,500 cash back
Dealers simply have too many large SUVs on their lots right now, and automakers are serious about clearing them out.  At the top of that list is Chevrolet, with its 2008 Tahoe.  The best large SUV in our rankings, the Tahoe is available at 10 percent off MSRP as part of GM's Red Tag Event promotion.  Another $6,500 in discounts is available to new car buyers - and $1,000 on top of that for lessees.
Get free, competing suv price quotes on a 2008 Chevy Tahoe using our new dealer quote tool

Pickups


MSRP:$17,590-$38,950
Invoice:$16,623-$35,639		 2008 Chevy Silverado: 10% off plus up to $5,500 cash back
The 2009 Ford F-150 is due to hit dealer lots in late November, which means dealers are frantically trying to get rid of the 2008 trucks now. Not only is Ford offering a choice between low-interest financing or cash back, odds are many dealers will be more than willing to negotiate.
Get free, competing truck price quotes on 2008 Chevy Silverado using our new dealer quote tool

Dream Car


MSRP:$80,650
Invoice:$75,408		 2008 Cadillac XLR-V: $10,375 Discount on Red Tag Sale + $4,250 Cash Back
Built on the Corvette platform with edgy styling and a retractable hardtop roof, the XLR roadster is a real head-tuner with true high-end performance.  The XLR-V, however, adds a supercharger for a serious low-end power boost and stabilizer bars for improved handling.  Cadillac's Red Tag Event, combined with more than $4,000 cash back, means it's now available at nearly $15,000 off.  Yes, you can now buy the XLR-V and then buy a Chevy Cobalt with your savings.
Get free, competing car price quotes on a 2008 Cadillac XLR-V using our new dealer quote tool

Interested in leasing your future new car?  Check out our Best Lease Deals this month.