If you are in a good place financially, right now may be the best time to purchase a new car. Car sales are down dramatically as a result of Covid-19. According to the Wall Street Journal, sales are down 34% in the second quarter vs last year. Automakers are offering all kinds of incentives to get you into their showrooms.
Car and Driver has a full list of deals being offered but here are some of the top picks:
- Chrysler – 84 months of interest-free payments on their brands which include Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, and Ram.
- General Motors – 84 months interest-free on most of their models and buyers can opt to defer the first 4 months of payments
- Honda – buy or lease a new car and receive a $1000 credit, and you can defer the first 3 months of payment
- Mazda – Deferral payments for up to three months and 0.9 percent APR for up to 60 months on select new vehicles. Returning owners can qualify for a $1500 credit toward any new-vehicle purchase or lease.
These are just a few of the deals out there but there are many more and new incentives seem to pop up almost daily. Be sure to check the website of your favorite auto manufacturers as well as your local dealers.
Tomorrow: The top 5 care tips for summer