Who doesn’t love new car incentives and rebates? In other words you can save more money and/or get low rate financing of your next new car. They are called incentives because they are incentives to get you to buy a new car or truck today or at least as soon as possible. The automakers created incentives that offer cash back, rebates, down payment assistance, price reductions and/or low rate auto financing and low monthly car payments (in you qualify) to sell more cars during a limited period, usually for a month or two at a time. This is a way to create urgency in the mind of the consumer to earn your business ASAP.
New car incentives and rebates can be a win/win for all, but there are conditions that require some further reading or researching in order to fully understand the offering. These offers are legitimate and obtainable, but not always for everyone unless you qualify. These qualifying details may only be available to those with a particular credit score or only those that are financing through the automakers finance division when it comes to low rate financing. Some offers made by individual dealerships can be even more restrictive and deceptive, but they still need to disclose the restrictions.
New Car Incentives and Rebates Disclosure
When it comes to the selling of automobiles there are some very strict rules, regulations and disclaimers that must be made available to the consumer when used in automobile advertising. These stipulations and disclaimers must be shown in print or television advertising or heard in radio advertising, but they don’t make it easy. Very often the details of these offers are printed in very, very small print at the bottom of the advertisement or require a link to click on when advertised online.
These disclosures required on new car incentives and rebates usually require credit score requirements, financing through auto manufacturers, large down payments, trade-ins and a host of other stipulations. Most automaker offers are beneficial and either offers a rebate or low rate financing for a limited term, but not usually both. However individual car dealers may offer incentives and rebates that require conditions that are a bit extreme. These extreme conditions may require 50% down payment; very high credit score, short-term rates only or crazy trade-in conditions. However all of these conditions must be disclosed when advertised so make sure that you read all of the disclaimers before you think it sounds too good to be true.
There are other types of new car incentives and rebates besides the traditional ones you see advertised everyday that evolved in recent years.
Less Common New Car Incentives and Rebates
Loyalty Car Buyer Incentive: This new car offer can save the new car buyer additional dollars if they own or trade-in a vehicle of the same brand. This could be an additional $500 or more in discounts.
Conquest Car Buyer Incentive: The conquest incentive is design to get a car buyer that currently owns a directly competing brand to try the new brand by offering additional incentive dollars to try their new vehicle.
College Graduate Car Buying Incentive: Many automakers offer an incentive for new car buyers that recently graduated from college. The intent here is to get a new customer to become loyal to their brand by offering discounts and financing. However these offers usually require financing through the manufacturers finance division and a favorable credit score.
Military Car Buyer Incentive: This incentive that is provided by many automakers is for those individuals that are a currently active in the military that wants to buy a new car. There is typically a discount and financing available, but offers differ by automaker.
First Time Car Buyer Incentives: Not many automakers offer a first time buyer program of any benefit, but there are some. Usually this incentive requires financing. It is designed to help out a qualifying buyer that has limited or non-existent credit experience.
New car incentives and rebates can be a great thing and save you quite a bit of money, but make sure you understand all the stipulations. Read all of the disclosures and disclaimers for a thorough understanding of what is required for you to take advantage of these dealer and automaker new car incentive and rebates.
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