Best Car Deals: July 2010
It's a good time to be shopping for a new car.
Because automakers dialed back discounts and incentives in June, sales slowed. Granted, they were better than sales in June 2009 -- but compared to May 2010, sales in June 2010 fell. Specifically, Toyota saw a 14 percent sales decline in June as compared to May. Meanwhile, General Motors reported a 13 percent sales decline during the same period. Even Honda saw a nine percent sales decrease in June as compared to May. In a typical year, car sales will decline three percent from May to June.
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from U.S. News & World Report
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As a result, most car makers are offering great incentives, discounts and rebates in July to help push sales. Even better, many of July's car deals are available through September, so you can take your time and really shop around.
Interest-free financing is a common incentive, and one that can save you thousands over the life of a loan. Currently, Ford, Nissan, Chevrolet, and Toyota are all offering zero-percent financing, often on competing models. When you go to negotiate with a dealer, make sure you're aware of the deals competitors are offering. Having that knowledge gives you more options -- plus, if you let the dealer know that you’ve done your homework, you may be able to negotiate a better price.
Even some companies, like Mini and BMW, who don't typically offer incentives are getting in on the action. So is Honda. While Honda isn't matching the no-interest offers of competitors, it's coming close with 0.9 percent APR financing on many top models. That rate is so low, if you prefer the Honda to the competition, it might make sense to go for it.
If you're looking for a car that's a great deal over the long haul, check out the 2010 U.S. News Best Cars for the Money Award winners.
The best car deals for July are below.
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The Best Deals we found this month are listed below:
Mini Cooper, Clubman and Convertible
1.9% financing for up to 60 Months
The 1.9 percent APR financing that Mini is offering on all of its models isn't the best deal in the small car class, but it’s the best deal we've ever seen Mini offer. Plus, while you can get a Chevrolet Aveo or Honda Fit at a lower interest rate, they can't come close to matching the Mini when it comes to all-out driving fun.
MSRP: $18,800 - $34,000
Avg. Paid: $18,540 - $32,859
MPG: 28 City / 37 Hwy
0% financing for up to 60 months or $3,000 cash back
The Chevrolet Malibu is easy to overlook because it competes in the hyper-competitive class of affordable midsize cars. Overlooking it would be a mistake, though. The Malibu offers comfortable front seats, a stylish cabin and it ranks above class stalwarts like the Toyota Camry and Honda Accord. Through the beginning of September, you can choose between cash back or no-interest financing on the Malibu.
Avg. Paid: $22,023 - $26,994
MPG: 22 City / 30 Hwy
2.9 % financing for up to 60 months
We usually don't highlight luxury cars in our deals, but sometimes a deal is too hard to pass up. The M is Infiniti's flagship sedan -- which is saying a lot considering that Infiniti is giving BMW and Lexus a real run for their money. Even better is that the deal is on the new 2011 Infiniti M. Now you can get a 2011 M, with a choice of a V6 or V8 engine and zen-like cabin, at only 2.9 percent financing for up to 60 months.
MSRP: $45,800 - $54,650
Avg. Paid: $42,057 - $50,490
MPG: 17 City / 25 Hwy
0% financing for 36 months
The Nissan Rogue is a good option for shoppers looking for a compact SUV at an affordable price that actually has a comfortable backseat. Reviewers praise the Rogue for its interior space, but through August, Nissan is making the Rogue even more attractive, thanks to zero-percent financing.
MSRP: $20,460 - $23,300
Avg. Paid: $20,048 - $22,799
MPG: 22 City / 27 Hwy
0.9% financing for up to 60 months
Okay, Okay -- the Accord Crosstour isn't a full on midsize SUV. It's definitely more of a crossover/wagon. Still, with its standout shape, smooth drive and luxurious interior, if you need a little bit of practicality to go with your style, the Crosstour should be on your list, especially with the low financing rates Honda is offering in July.
MSRP: $29,670 - $36,220
Avg. Paid: $28,312 - $34,527
MPG: 18 City / 27 Hwy
Up to $2,500 Cash Back
With most SUVs becoming more car-like, sometimes a crossover SUV just won't cut it. If you're going over rough terrain, towing a boat or horse trailer and need to bring a lot of people with you, you need a large SUV. The Ford Expedition offers plenty of brawn and an interior that actually has a comfortable third-row seat -- a rare thing. This month, it’s available in most regions with up to $2,500 cash back.
MSRP: $35,585 - $51,240
Avg. Paid: $34,847 - $48,980
MPG: 14 City / 20 Hwy
Up to$5,000 cash back or 0% financing for up to 72 months
We don't normally highlight deals on 2009-model vehicles, but this one is too sweet not to mention. Right now you can get either $5,000 cash back on a 2009 Corvette or zero-percent financing for up to 72 months. The 2009 and 2010 Corvette are very similar, so you won't be giving up any power or features by opting for the one that's been hanging around the dealer lot. Still want the 2010 model? In July you can get it with $3,000 cash back or zero-percent financing for up to 60 months, which is still a pretty sweet deal. Even better is that the 2009 and 2010 deals apply to all Corvette models but the ZR1. So, coupe, convertible, Z06, Grand Sport -- which will it be?
MSRP: $48,930 - $58,580
Avg. Paid: $48,111 - $57,107
MPG: 16 City / 26 Hwy
