Rebates To Remember: A Strategy For An Affordable Car PurchaseRebates To Remember: A Strategy For An Affordable Car Purchase

The first thing you picture while buying the car is the make, model and the color that you wish to buy. Once you have the car in mind, you seek out auto financing options in order to make a car, your own. However, in between the process of negotiating and purchasing your car, you seem to skip on an important aspect. The presence of an incentive or rebate can assist you in making the most out of the deal while reducing the overall price of the car.

Look Out for Car Rebates: Buy your Dream Car Easily

Rebates and incentives are always present but may not be necessarily advertised heavily by the dealer or the manufacturer. Gaining a deeper understanding of the different rebates below will be advantageous to you when you are searching for your next car. If your goal is to ensure an affordable car purchase, pay attention.

1) Rebates of Cash

The most commonly found rebate is the cash rebate where a manufacturer gives a direct cash discount or bonus cash to the customer who is purchasing the vehicle. For instance, the 2018 Chevrolet Tahoe is providing a cashback of up to $3,750 which is available for December. In many cases, certain college graduates or members of the military can avail special rebates on the purchase of their new car.

2) Conquest Incentive

If you have purchased a car of a competitor manufacturer in the past, it can help you obtain an incentive on your current car purchase. Currently, you can receive a conquest incentive on the Hyundai Genesis Coupe of up to $1,500. All you have to do is show that you own a car that is not manufactured by Hyundai and the conquest incentive is yours to take away.

3) Rebates on Loyalty

If you possess a car of a certain manufacturer and wish to purchase another car from the same manufacturer, you can avail a loyalty rebate on your car. Hyundai offers a loyalty cash rebate of $500 which you can obtain on their model Santa Fe. As loyalty rebates are not known to many, it is best to gain maximum knowledge on it before you set out to purchase your next car.

4) Dealer Incentives

Dealer incentives refer to the benefits that the dealer receives from the auto manufacturers. Dealers are able to reduce their cost with the help of discounts obtained from the factory. Although dealer-to-factory incentives may not be directly available to a car buyer, you can negotiate with the salesman and try to reduce the price of the car. Hard-bargaining skills can help you obtain a share of dealer incentives and thus, ensure an affordable purchase.

5) Captive Financing & Low APRs

If you are opting for dealership financing, you can get a chance to choose either a rebate or a low-interest rate on your auto loan. If you wish to opt for a low APR, you should aim for a pre-approved auto loan with a shorter-term length. Additionally, captive financing is also an option that will help you in obtaining reduced interest rates.

New Car Incentives: Important for every Car Buyer

As a customer, it is your right to avail any rebate or incentive, of which you are eligible. When you set out to negotiate the price of the car, make sure you have a close look at your situation and check if you can avail any rebates. Make the maximum use of your available incentives and learn to factor-in their importance. By negotiating a good bargain, you will be able to take the right step towards making an affordable purchase.

by Kaitlin Miller
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