End of Model Year Leads to New Incentives on Cars

Posted: Aug 08, 2008 10:58 a.m.

Forgive us, because, this is going to sound like a bad radio ad, but it's true: This is a great time to buy a car.  The 2009s are coming, and dealers need to clear 2008s off their lots. 

Incentive deals are on the rise.  The Orlando Sentinel reports, "The average automotive-manufacturer incentive in the U.S. was $2,611 per vehicle sold in July 2008, up $166, or 6.8 percent, from June 2008, and up $90, or 3.6 percent, from July 2007." 

The CNN Money adds, "Auto makers, aiming to compensate for the loss of leasing as a viable sales tool, are sweetening incentives to help dealers clear inventory amid the worst U.S. sales environment in more than a decade"   Chrysler is currently "offering an additional $2,000 cash back across its product portfolio, while General Motors Corp. is expanding its offers on slow-selling trucks and SUVs."

A separate CNN Money article reports that GM "is offering customers up to $8,000 off a GMC Envoy or Chevrolet Trailblazer SUV, and six years of free financing on most large trucks and SUVs."

Kicking Tires posts model-year-end deals for many manufacturers.   Several fairly fuel-efficient small and midsize cars make an appearance.

Nissan's Altima and Sentra, both fuel-efficient small cars in high demand in the current market, are available with $1,000 cash back.  The tiny Versa can be had with an $800 cash back offer. 

In parts of the Southeast, the popular Toyota Camry is available with $1,500 cash back. 

With a redesigned 2009 Mazda6 on the way, the 2008 Mazda6 is being offered with $2,750 cash back or 0% financing for 60 months.

Among less surprising offers, the giant Toyota Sequoia and Nissan Armada are both available now with $5,000 cash rebates.

Research the best deals in every class with U.S. News' car rankings and reviews.