If you’re looking for auto financing on a new car at some point in the second half of 2010, don’t go in blind. There are certainly factors at work that will work in your favor if you just know what to look for in your next loan. Most people only concentrate on a low car loan rate, but the price of the vehicle and other things also play a role in the final price you pay. Here are some interesting things you should consider if you plan on a new car purchase in the later part of the year.


One of the biggest factors affecting your new auto purchase will be the economy. After the cash for clunkers program, auto industry activity plummeted until recently. Car sales are nowhere near where they were at the peak, and many manufacturers are in trouble. Many American car companies only make money due to fleet sales, which have also slowed significantly. Companies like Ford have reinvested in developing a better product for less money, so you’re sure to get more car while still paying great prices. GM recently bought its own financing unit, allowing it to make the kinds of deals it wants if you’re the right customers. Look for incentives from all car manufacturers later in the year.


Everyone knows that buying sports cars and other expensive cars is best left for the end of the year. Car sales experience a slowdown and new car models are introduced. Many dealerships will work hard to clear out last year’s models before the new ones arrive. Convertibles also go for much cheaper prices. If you’re looking for a bargain, shopping at the end of the year may be a good idea.

Manufacturer Incentives

This year more than any in recent history has been especially bad for auto makers. Companies like Toyota and Honda have lost a lot of their golden reputation due to poor build quality, inspection processes and defects. As a result, these manufacturers are offering aggressive deals on new car financing to bring customers back to the showroom floor. Even better, many other car companies will match these incentives and financing deals to avoid losing business to competitors. It’s a win-win for customers like yourself.

Buying a car doesn’t have to be difficult, and there are many factors this year helping people to secure better deals on their new cars. Make sure you don’t just pay attention to the car loan rate – evaluate the total cost of your car versus just the monthly payments.

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