3. Rebates and Incentives
Check the manufacturer’s Web site to see if there are any incentives on the car you’re planning to buy. Sometimes they’ll have attractive financing rates for a limited time. Additionally you may belong to a group or organization that entitle you to discounts.
Finally, if you’re a new graduate, automakers love to offer rebates sometimes ranging up to $1,000.
Furthermore, local dealerships like to make their own pitch to buyers and may have their own incentives. Check via phone or email to see if the car you’re interested in buying is part of any special promotions.
If you’re buying a vehicle that uses alternate fuel like hydrogen or electricity, you may be eligible for a government rebate, helping to soften the blow of being an early adopter. Fully electric vehicles net a maximum $7,500 tax credit, while plug-in hybrids get a tax credit based on the size of the electric battery under the hood – vehicles like the Chevy Volt get a $7,500 credit, while the Toyota Prius Plug in only qualifies for $2,500.