Last Chance for Crazy Car Deals?!
We Got Your Back!
Want to know the latest deals broken down by brand? The Steve Warneke Show interviewed car expert and award-winning author Jack Nerad, who recently co-authored an article for JD Power about COVID car deals. The article is being updated as changes occur. If you are in the market for a new car, you absolutely should check this out before heading to the dealer!
Memorial Day weekend is typically the biggest weekend for car sales in America. Although we are now past that notable holiday, Covid-19 still has provided us with car deals galore. You might have to act fast, however. Nerad says we are likely seeing the best deals we are going to see this year. Here are some of the other questions and highlights from our interview:
1) What financial assistance are automakers offering existing customers in regards to their leases and loans?
We are seeing many deals offering an array of deferred payment options. For example, General Motors offering to defer payments up to three months, and Ford is offering deferred payments of three months PLUS they’ll pay your next three months.
"Six months without a car payment is...pretty compelling."
Nerad also tells us that there are a ton of zero percent interest deals available right now across the board. Obviously this will also depend on your credit and the terms of the purchase or lease.
2) What are some of the highlights throughout the auto industry current consumers can look for and take advantage of?
Typically, the advertised deal is the BEST deal. It's commonplace—you see a deal online or on television and when you go into the showroom, that particular model with a particular level of equipment is not available. In those instances, you often find your price is nowhere near the advertised price. COVID-19 is making these deals a lot more level across the board according to Nerad.
“You should understand that probably the advertised deal is going to be the one that's the absolute best deal. It's the most compelling deal. It's probably the lowest payments for you....don't deviate too much...from what's being offered."
3) Do you see car deals getting even better or is this the time to move if you are looking to get a new car?
If you're going to get a new car, do it soon. It is likely we are seeing or have recently seen the best deals we are going to see during this pandemic. "As they've [car manufactureres] seen sales come back, they are dialing down the incentives a bit," warns Nerad.
Looking for more tips on buying or leasing a car? Nerad is also the author of The Complete Idiots Guide to Buying or Leasing a Car or get a copy of his latest book, The GR Factor, available at Amazon, Apple Books, and other online retailers.
For more details on whether buying a leasing a car is better for YOU and how to negotiate the best deal out the door, read Steve’s 8-step success plan here!
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