Best Car Deals: September 2010
If you’ve been waiting for the Labor Day weekend to buy a new car, your wait may have paid off. The August sales numbers for new cars are in, and they aren’t good. According to analysts, new car sales were down three percent from July, and down twenty percent from August 2009. That means that dealers may be feeling pinched and hoping to use the holiday weekend to spur September sales.
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from U.S. News & World Report
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Whether those sales will pick up is a mystery. Most car makers set their August deals and incentives – the same ones that didn’t manage to attract many buyers – to expire the Tuesday after Labor Day. Those discounts and incentives weren’t terrible. In fact, they were fairly typical of the deals car makers offered all summer. And, at the beginning of the summer, carmakers saw modest sales gains. There are a number of reasons for the drop in new car sales in August, but a lack of good new car deals isn’t one of them.
For new car shoppers, the combination of bad sales numbers across the industry and good deals could add up to a perfect recipe for a great deal on a new car. Dealers who are looking to improve their sales numbers for September and clear space on their lots for 2011 models may be more willing to negotiate than usual. Shop smart and you can negotiate a lower price on the car you want with the dealer, then add in deals from the carmaker and end up getting a new car for a lot less than the sticker price.
Labor Day car deals vary by manufacturer. 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 on 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.
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The best car deals for Labor Day are below:
0% APR for up to 60 months in most regions
If you’re looking for basic budget transportation, the Toyota Yaris will do just fine. With a starting price of just over $12,000, and a highway fuel economy of 35 miles per gallon, there’s room in almost anyone’s budget for the diminutive Yaris. Through Labor Day, Toyota is offering the Yaris with zero-percent financing for up to five years in most parts of the country. That means the Yaris can save you even more cash, since you’ll save on interest payments. Contact a dealer to find out if the Yaris is available with zero percent financing where you live.
MSRP: $12,605 - $14,165
Avg. Paid: $12,999 - $14,596
MPG: 29 City / 35 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.
MSRP: $21,825 - $26,955
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 60 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 August.
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
