January 11, 2014 | No Comments YetTags: best car deals, car buying, tips on buying a car
Incentives and Discounts: Get Maximum Savings When Buying Cars
There are several ways to get the best car deals; the most important, understanding the trade secrets. If you want to be successful in saving big amount of money on cars you must take time to understand how to take advantage of manufacturers’ subsidized financial incentives and discounts. Although most people will have a perception that great negotiating skills can give maximum savings: knowledge and experience can still get you bigger savings. Proper selection of the right car that offers the best incentives and discounts from the manufacturer can provide the most substantial savings, compared to spending weeks negotiating with various dealerships.
4 Primary Categories of Financial Incentives and Discounts Offered by Auto Manufacturers
- Cash Rebates – It is the cash that is offered by the automaker to their clients who either lease or purchase a car. According to the law, the auto dealership has been required to transmit 100% of the cash rebates to the client. The cash rebates may or may not be combined with other factory promos such as subsidized leases or low interest rates.
- Marketing Support – It is the cash that is sent from the automakers to the dealerships to help them in moving their inventory sales. The dealership may transfer 100% or a lesser percentage of the total cash to the client. Just like the cash rebates, marketing support may or may not combine with other factory promos.
- Low Interest Finance Rates – Auto manufacturers offer low interest finance rates to as low as 0% on selected car models. The terms included are usually specific. Let’s take an example; If 0% rate is offered on a model, possible term can be for 36 months but if the customer decides to finance it for 60 months, then the interest rate may increase to 1.9% to 2.9%. Moreover, low interest rates provided by the automakers needs above average credit scoring or tier-one credit scores. With this, most of the consumers are not qualified to take advantage of the low interest rates by the automakers.
- Factory-Subsidized Lease Specials – Auto manufacturers usually offer factory-subsidized leasing programs on some selected models. These programs have specific terms including the lease duration, possible mileage and down payments. However, there are certain situations where the total amount of payments for the duration of lease is less than the depreciation of the specific model of the car. Factory subsidized lease requires tier one credit score depending on the car models as some may consider tier-two but will ask for a higher down payment or lease payments.
If you don’t have the time and patience to know these specifics then your next best option is to employ help from someone who is an expert with manufacturers’ financial incentives and discounts. ZadCars Car Buying and Leasing Consultants regularly update their financial database with information and data concerning the financial incentives and discounts offered by multiple manufacturers. Each of the 350 car models has 4 different categories of factory incentives and specials. Just in case there are 4 x 350 = 1400 various factory offers in the US car market anytime, this may vary from one state to another. Our financial consultants ensure that customers get the best car deals and special incentives and discounts they deserve in the automobile market
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