New Cars Becoming Cheaper than Used Cars
With most car companies basically frantic about trying to survive the economic storm, the deals and throw-ins of most companies have become too good to be true. Too good that it should not be surprising that the cost of new cars may very well be cheaper compared to buying a used car.
Edmunds.com, the premier resource for automotive information, today announced that the deals on some new cars are so generous that they actually make the new car less expensive than the one-year old used version of the same model.
Some automakers are currently offering special finance rates among the incentives offers they use to attract buyers. When applying the appropriate special finance rates being offered as incentives for new car purchases, Edmunds.com found the savings rose as high as $6,175. Edmunds.com estimates that approximately 18 percent of new car buyers qualify for the special finance rates offered by automakers.
“Never underestimate the cost of the interest on a loan, and never forget that if you have decent credit, you may be able to negotiate the interest rate you are offered,” recommends Edmunds.com Senior Consumer Advice Editor Philip Reed. “Car shoppers should look at all the costs of buying a car, not just the purchase price.”
(Source) Press
Tags: automakers, automotive information, buying a used car, car buyers, car companies, car purchases, car shoppers, economic storm, finance rates, interest rate, new car, new cars, price source