Best Car Deals: August 2010
The new car discounts and incentives that automakers offered in July appear to be working. Early sales reports indicate that overall, July was a fairly healthy month for car sales. In fact, many analysts expect that July will be the strongest month for car sales since August 2009, when sales were pushed over the top by the government's Cash for Clunkers program.
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from U.S. News & World Report
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Most car companies want to keep the sales party going and have extended their deals though the end of August. A few, like Toyota, are starting to dial back their discounts and incentives on certain models in certain regions, as their inventory shifts. Still, if you're shopping for a new car, it should be fairly easy to get a good deal.
While Ford and GM are offering low-interest financing or cash back to buyers, most imports are sticking with low- or no-interest financing deals and few cash back offers. While cash-back offers can seem more exciting, make sure you do the math to see how much zero-percent interest could save you over the life of the loan. For example, you can get $3,000 cash back on a Chevy Malibu, or zero-percent interest for up to 60 months. Getting $3,000 cash back seems like a great deal, but if you qualify for the zero-percent interest, you'll save $3,331 over the life of the loan (compared to a loan with six percent interest).
The savings are even better if the cash back offers aren't quite so good. Nissan is offering up to $1,500 cash back of the Altima, but by going for the zero-percent interest offer that's available in most regions, you'll save $3,183 over the life of the loan, when you compare it to a loan with six percent interest.
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 August 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
