Car buyers should expect more incentives this month
August wasn't a very good month for car sales, so it's a safe bet that dealers are going to roll out the incentives to get things back in gear.
Carroll Lachnit, consumer advice editor at Edmunds, says it looks like we’ve reached a turning point.
“There may be better incentives in September, so despite the fact that it's after Labor Day, it may be a good time to buy or lease a car,” she said.
Expect to see cash back and zero percent financing offers. So how do you decide which way to go?
"You should run the numbers for both and see what's going to work out better for you,” Lachnit said.
Remember, only some buyers qualify for zero percent financing, so you can't assume that you're going to get that.
“If you have super credit that's great, but if you don't, you may want to think about your other options for getting a good deal,” she said.”
A lot of people are choosing to take out very long car loans to lower their payments. Six years is not uncommon.
Keep in mind: Financial experts say you shouldn't go past four years or so.