November sales results showed the American auto industry in a tailspin, and auto company executives are driving (not flying) to Washington to beg for federal aid.
Trust us, this is terrific news for deal seekers.
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Just as automaker CEOs are desperate for bailout money, auto dealers are desperate for your money - and they're willing to bend over backwards and even alter the calendar to get it.
General Motors began its holiday special -- the Red Tag Event -- early this year, and it continues through December. That means no-haggle pricing and significant discounts on everything GM makes. Ford is offering employee pricing to everyone, interest-free financing and cash-back deals -- often all three in combination.
And luxury automakers are in on the act, too. Lexus started its "December to Remember" sale in November, and has extended it into January. Infiniti has beaten what Lexus has to offer, with zero-percent financing on many models. Even BMW is offering finance rates below 1 percent on many cars.
Whatever automakers tell the press about car prices, keep in mind that the best incentive may be the one you negotiate yourself. Dealers are reporting a 50 percent drop off in showroom foot traffic as compared to last year. Low traffic means low sales and the potential to negotiate a great deal. Also, more and more 2009 models are hitting dealer lots, which means they have a need to unload the remaining 2008s. Before heading out, be sure to check out our guide to negotiating in a down market and use our online tool to get price quotes from multiple dealers.
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The Best Deals we found in December are listed below:
2009 Hyundai Accent GS
$9,470 after $500 cash back
There is a fight brewing over who can build the least expensive car in America. Last month, Nissan priced the most stripped-down edition of its Versa subcompact under $10,000 for the first time. This month, Hyundai has undercut Nissan's price - by exactly $20. Sure, it's only $20, but for those looking for inexpensive transportation, we think the Hyundai Accent is actually a better deal. According to J.D. Power and Associates, it's the Most Dependable Sub-Compact Car, and it comes with a 10-year,/100,000-mile powertrain warranty -- nearly double Nissan's coverage. This month, the 2008 Accent GS is available with $1,000 cash back -- bringing the price of a new car, under warranty, to below $9,500. Members of the military can even cut the price by another $500.
MSRP: $11,070-$15,870
Invoice: $10,822-$15,406
2009 Ford Fusion
Employee Pricing + up to $2,500 cash back or 0% APR
Six months ago, $15,500 would have bought you a nice small car. Today, it will buy you a nice midsize car. If you were to max out Ford's current Employee Pricing Plus deal and bring in outside financing so that you could take advantage of $2,500 cash back, you could pay just $15,492 for one of our highest-ranked midsize cars -- about what you would expect to pay for its smaller Focus sibling in an ordinary year. The Fusion ranks highly against the competition for its cornering prowess and stylish look -- and it's never been so inexpensive to own.
MSRP: $19,035-$25,605
Invoice: $10,822-$15,406
2008 Infiniti EX
0% APR for 36 months
The Infiniti EX is the driving enthusiast's SUV. It's the only rear-wheel-drive compact SUV, making it feel more responsive and balanced than many rivals. Its powerful V6 is quick, its richly-appointed interior is a nice place to spend time, and its "Top Safety Pick" rating from the Insurance Institute for Highway Safety gives drivers confidence. As part of Infiniti's Limited Engagement Winter Event, the EX can be purchased without interest -- but polish up your credit score before applying. The offer is only for "well qualified buyers."
MSRP: $31,900-$36,850
Invoice: $29,343-$33,880
2008 Saturn Outlook
Red Tag Sale Pricing Plus $2,750 Cash Back
The Outlook handles like a much smaller vehicle and is an Insurance Institute for Highway Safety "Top Safety Pick" for its strong crash test scores and standard stability control. It's also a serious family hauler -- while the third-row seats of many SUVs are just token gestures, this one is comfortable even for adults. Right now, GM's no-haggle Red Tag Sale, combined with a generous cash rebate, knocks almost $4,000 off the price of a 2008 Outlook. A comparable 2009 will set you back almost $4,000 more -- but there's no significant difference between the two. Head straight for the '08 -- and in this tough time for car dealers, you might want to try haggling down that no-haggle price.
MSRP: $28,625-$33,035
Invoice: $27,051-$31,218
2008 Chevy Tahoe
Red Tag Sale discount plus up to $7,500 cash back
GM built too many Chevy Tahoes, and is now discounting them heavily just to move them off of dealer lots. The manufacturer's Red Tag Sale plus several cash-back offers that can be combined means buyers can now drive off the lot in a Tahoe at a discount of more than $10,000. Those who need the towing capability and seating capacity of a large SUV know that few trucks combine utility and comfort like this one -- and that discount is hard to beat.
MSRP: $34,630-$39,560
Invoice: $31,686-$36,197
2008 Chevy Silverado
Red Tag Sale pricing plus up to $5,500 cash back
New Ford F-150 and Doge Ram trucks are stealing all of the headlines, but the 2009 Chevy Silverado still beats them both in our rankings. It combines rugged strength with everyday comfort and five-star crash test ratings. With GM's no-haggle Red Tag Sale this December, some Silverado models of (trust us, there are more configurations than you can count) are available at nearly $10,000 off MSRP. Maybe fewer of us buy trucks as toys these days -- but they are necessary tools and everyday transportation for millions of Americans. Heavy discounts on the top truck on the market make this a great time to buy.
MSRP: $17,590-$38,950
Invoice: $16,623-$35,639
2008 Dodge Viper SRT10
$5,000 cash back
A 12-mile stretch of twisting asphalt outside Nürburg, Germany is the toughest test in the world for performance cars. The 2008 Viper SRT10 is now the master of it, having posted the fastest lap time ever achieved by a production car on the ‘Ring earlier this year. But Dodge, a unit of struggling Chrysler, can't sell Vipers no matter how hard it tries. The company has considered selling off or just ending the Viper line of cars because, in these hard times, few people want to buy a world-class performance car. But if you do, Dodge is now offering $5,000 off the car before you even walk in the door -- and since you may be the first potential Viper buyer the dealer has met in quite a while, there's even room to negotiate from there.
MSRP: $85,545-$86,295
Invoice: $78,380-$79,048
More Info About The Cars Mentioned in This Article
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2008 Saturn OUTLOOK$28,625 - $33,035 -
2009 Hyundai Accent$11,070 - $15,070 -
2009 Ford Fusion$19,035 - $25,605 -
2008 Chevrolet Tahoe$34,630 - $48,490 -
2008 Chevrolet Truck Silverado 3500HD Regular Cab 4WD
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