Best Car Deals for January 2011 - Incentives, Rebates, and Leases
January is one of the best times to buy a new car. Most consumers are recovering from the holidays and fewer shoppers are visiting showrooms - which means car dealers are hungry for your business.
Although a new year has started, there are still leftover 2010 models available for sale. Car manufacturers are eager to get rid of these, so they're offering special sales and incentives to move them quickly.
Even with these great deals, you should only consider buying a leftover model if you intend to keep it for many years. Otherwise, the depreciation cost will outweigh your savings if you sell it within a few years.
As for 2011 models, inventory levels have been increasing which means dealers are more likely to offer better deals. Many 2011 models were first introduced in August or September. Now that a few months have passed since the initial excitement, sales have tapered off a bit while supply is increasing.
Some of the most common incentives being offered right now is 0% financing, which is widely available on Ford, Nissan, Toyota and Chevrolet models while Honda is offering rates of 0.9%.
There is still also a slew of great cash rebates, some as high as $5,000 on GM models. All in all, January 2011 is a fantastic month to purchase a new car, whether it's a leftover model, or a brand new 2011.