Holiday shoppers are flocking to online gift sites, but savvy consumers are ordering new cars.
Low prices, high incentives and end-of-year discounts make the holiday season the best season of all to buy a new car online.
Updated
Jun 10, 2004 22:40:49
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Description: Irvine, CA-December 8, 1998 The last thing on your mind as you whisk from mall to mall or website to website searching for the perfect holiday gifts is the idea of buying a new car. Though it may not fit under the tree (except the one in your driveway!), a new car may be the smartest gift you buy yourself this holiday season. Add to that the convenience of researching and buying your car online through services like Autobytel.com and your holiday is bound to be brighter than ever.
Cars More Affordable Than Ever
According to data compiled by the premiere online automotive site, Autobytel.com, a number of economic indicators reveal that now may prove the best time of the year to get an exceptional deal on a new car or truck. The auto market has never been so fiercely competitive, and a number of factors are converging to make the holidays the smart, if seemingly unlikely, time to buy yourself a Christmas present you'll actually love-a new car. Historically low pricing on new '99 models, plummeting interest rates, hefty manufacturer's incentives on '98s, and a glut of vehicles on the global market are leading to low prices and excellent financing deals that are giving consumers something to celebrate. In fact, Detroit-based Comerica's Auto Affordability Index reveals that "cars are more affordable now than they have been in 18 years." Smart consumers are already taking note: October was a surprise record month across the industry, becoming the second-best sales month in a decade.
End of Year Deals
If the end of the month is traditionally the best time to buy a new car, then the end of December is a double-whammy-not only do dealers have to clear out the books for the month, but also for the entire year. Manufacturers are also anxious to help dealers clear the lots of this year's models to make room for next year's. In short, everybody is working together to implement incentive programs to move those '98s. But you'll need to act fast as interim price adjustments on hot models are already in the works, with the first kicking in on December 7 as the Lincoln Navigator goes up $1,150. Most hikes won't come until late winter/early spring, so that means now is the time for savvy online buyers to reap even greater savings on their new car. Making the end of the year even sweeter for smart consumers is the battle between makers vying for the title of "Best-Selling Car/Truck in America." Last year, the Toyota Camry won boasting rights to the title, and, coming into December 1999, this car is still in the lead. Arch-rival Honda is combating this by offering an affordable 36-month lease on their popular Accord.
Generous Rebates
Both dealer and consumer rebates from manufacturers are higher than ever. In fact, the Big Three averaged $1,500 in built-in incentives per vehicle this spring, twice what they spent the year before. You'll even find rebates on some '98 models, like Lincolns and Cadillacs, as high as $5,000, and there are even rebates up to $2,000 being offered on new '99 models. Most incentive programs that were slated to end in October were actually extended-and makers like General Motors even upped the payback. Nissan is continuing its practice of tacking heavy incentives onto its most popular models. The current host of attractive rebate programs are all slated to end around the New Year, and it's highly unlikely that they'll be as good after that. To get a full list of current incentive and rebate programs, go to and visit the Weekly AutoMarket Report found under the Research tab.
Affordable Financing
Add to this consumer-friendly mix today's abnormally low interest rates, and financing a new car has never looked more attractive. Due to the financial turmoil abroad, the Federal Reserve has slashed interest rates again and again this year, and car buyers are taking advantage of unbelievable programs that offer as low as 0% financing on new cars. For example, GM is offering 1.9% financing on '99 models, and 0.9% on '98s, while Ford is giving qualified buyers 0.9% on both '98s and '99s. These deals may not last, however. Many financial analysts believe we've seen the last of the cuts and expect interest rates to go up next year.
Get the Best Deal Online
All indications are that now is the time to buy a new car. But who wants to trudge from dealer to dealer during the holiday shopping season? And the traditional process of haggling with a car salesman can be more taxing than searching for a hard-to-find Furby for the extra-special kid on your list. It doesn't have to be unpleasant to buy a car during the holiday season. Autobytel.com lets you take advantage of low prices without all the hassle. Autobytel.com is designed to be a source for everything automotive, allowing consumers to research prices, specifications and incentives; and even find great financing deals from the convenience of their desk chair! Autobytel.com lets consumers shop for new and used vehicles via the Internet from the comfort of their home or office. Since the company's inception in 1995, it has aided more than two million car buyers and was recently named the third most recognized e-commerce brand by Opinion Research. Autobytel.com's unique business model enables its nationwide network of Accredited Dealers to decrease their costs during the sales process, a savings that is then passed onto the consumer, creating a no-haggle car-buying process. So, buy online and get the car you want with money to spare for holiday presents.
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