Current Best New Car Deals

qbrozen · May 2006

Well, obviously its up to her, but a 300 will always turn my head more than a highlander. Besides, the 300 isn't necessarily american. No more than a Highlander, anyway.

bretfraz · May 2006

She should check out Lexus. The new ES350 is out so dealers are selling off the ES330. Gotta be some good deals out there and Lexus ain't a bad status brand.

If she can get an extension on her Highlander lease and wait, Lexus will be holding their "Blowout The Old Junkers" annual sale in August. It'll be a good time to pickup something like a LS430.

jlawrence01 · May 2006

Poor guy!

My in-laws drive a 1973 Chrysler New Yorker and think that my wife's employer is frivilous because she gets a new company car every three years.

rseeger · May 2006

We have a completely loaded Tribeca (39K+) 7 passenger, dvd, nav, and all the goodies. We pay 420 a month with no money down. Its great car. We love it.

Good luck

matcar · June 2006

My mom 16 yr old nissa 240sx died last month. I have been driving her to test drive vehicles, like the mazda3, which we both like. The Matrix which she likes, but I just think it feels like a box, and it's gutless. The jetta which is nice. Her credit score is around 650 so we cant get her the best deal. Im running out of patience, because my sundays are spent trying to get her into a vehicle. I offered her my Ford Explorer which only has 42000 miles on it, but she doesnt want it.. I need a car like the jetta, mazda3, that doesnt consume lots of gas. I will be putting up most of the down payment for her, which is only about 1200, what I can afford. She can only afford about $200.00 a month. What do you guys suggest. I need help to get her into a car, she is currently taking the bus to work and back and I cant have that here in LA.. Im tired of talking to carsales people internet managers etc..

thanks..

qbrozen · June 2006

$200/mo with only $1200 down is REALLY difficult with a top-tier credit score, let alone 650. You'd definitely be looking at a long-term lease, which is never a good idea.

A base Corolla is all that I can think of that you MIGHT be able to get for $200/mo with only $1200 down. I'd bet pretty good money you CAN'T get a Mazda3 for that.

You might want to look into the new subcompacts like the Yaris, but without subsidized lease deals available on those yet, I'm guessing it will be out of your pricerange, but its worth a shot. Maybe check out Scion, too. I'm pretty sure the Honda Fit will be out of your range.

You really should be looking at used cars.

graphicguy · June 2006

I'm with q. Used seems the best way to go.

See if you can find some of those Hertz/Avis rentals that they offer for sale. Hertz, at least, has some 20K mile Corollas that they used as rentals and then turn around and resell.

I don't think you'll be doing your mother any favors with the Explorer, either. Not bad vehicles, but as you've found out, MPG is dismal and they aren't very popular vehicles with gas hovering around $3/gal. I doube any dealer is going to give much in trade for it since they've already got SUVs on their used (and new) lot gathering dust.

jeffyscott · June 2006

I don't know what that credit score means in terms of interest rates, but might it be possible to buy (instead of lease) something decent, yet small and cheap. $10,000 at 8% would cost $203 per month for 5 years.

Ford Focus has $2000 rebate. With $1200 down plus $10,000 loan plus the rebate...you could buy one with invoice of about $13,000.

There is similar rebate on the outgoing Nissan Sentra ($2250).

Not sure what you can get in either car for $13,000, though.

It's possible incentives will increase after July 4...so maybe she could drive the explorer for a couple weeks and see what happens then.

qbrozen · June 2006

8% might be tough with a 650 score, but not unheard of.

Problem with the scenario you've outlined is that it fails to account for taxes, tags, and fees. That alone will eat up the down payment.

But I do like your thinking. Again, however, I'd go with a base Yaris rather than a base Focus. Problem is, I get the feeling mom ain't settling for a "base" anything.

jeffyscott · June 2006

Well, I have seen ads for 96 mo. financing on cars.

Personally, I think it is not a good idea to get an 8 year loan...otoh, I don't know that leasing makes sense unless one is planning to always have a newer car. Which, I am guessing is not the plan here. Or is there less penalty for the low credit rating, when you lease?

Sounds like Mom never learned to live within her means

.

Problem is, I get the feeling mom ain't settling for a "base" anything.

Maybe a loaded Aveo, or Kia Rio would work, then

.

qbrozen · June 2006

oh, good grief, no, not an 8 year loan. not a 7 year, either. or a 6.5.

I can see my way clear to a 6-year loan .... IF its a car that has strong resale (toyota or honda would be fine, but NOT anything korean or "american"), is reliable, and IF the buyer plans on driving it for a LONG time.

Although I would have a tough time swallowing 6 years of payments on something like a Corolla, personally.

jeffyscott · June 2006

Oh, I agree. You know, the ad I saw had 8 year financing even for used cars.

With regard to the original question...

There is a "shop by payment" feature here on edmunds. According to that the Yaris, that was mentioned, can be leased for under $200 per month. I think it also showed up on the purchase for under $200 per month thingy. Of course those are for the base model, I assume.

Since the Jetta was mentioned...VW is coming out with the new Rabbit to replace the Golf. This is the same as the Jetta, except the rear end. Supposed to be starting at $15K for the 2-door. I would assume there might be some deals to be had on the remaining outgoing Golfs as well.

steine13 · June 2006

Oh, I don't know about that.

I agree an 8-year loan isn't great, but it beats the much-more-common 5-year loan on cars that are 3, 4, or 5 years old.

Nobody seems to scoff at those nearly as much. And in case of a Corolla, if a deal can be had, it's probably cheaper in the long run to buy the new car and stretch the payments as necessary.

-Mathias

matcar · June 2006

I appreciate all you responses. I know deals will get better after labor day, maybe we could just wait. I just dont want my mom in anything too small. 3 yrs ago I had and accident on the 405, and thank god I was in and SUV. If I had been in a small car, I could very well be crippled right now.. I will take a look at the yaris, dont know anything about it right now.. Waiting until later in the year may be the best thing.. It's my mom, she help me get my first car, and I just want to get her into something decent.. If you guys come across anything good, keep me posted.. I will get back this thread when we make a move, to update..

qbrozen · June 2006

Mathias? You're advocating an 8-year car loan? I didn't expect that.

steine13 · June 2006

I'm not advocating an 8-year loan. I'm advocating comparisons.

$200/month for 5 years is $10k, as someone pointed out.

In order for a Corolla to cost $10k (+1,200 "down" for tax etc.), it has to be an '04 with 40-45k miles. And that's if you know how to negotiate, and it's an automatic CE.

That car is three years old, and you've now got a $200/month loan until the car is eight years old. At that point, I'd check to see if I can't get a longer term and buy the car new, so I can take care of it from day one.

Of course, this is from a guy who drives a ten-year-old beater...

-Mathias

ddunbar · June 2006

I believe $200/mo for 5 years is actually $12K.

badgerpaul · June 2006

At 0% interest it is. $10,000 at 8% is $202.76 a month for 60 months.

ddunbar · June 2006

Sorry. I clearly did not drink enough coffee this morning.

zumsel · June 2006

And I still think that $200 a month with % interest for 5 years is $12,000.

5 years = 60 month
60 month x $200 = $12,000

Jochen

british_rover · June 2006

On a 0% interest 60 month loan it would be but add any interest and that 200 a month jumps.

At 5% it is $226.92
At 6% it is $232.57
At 7% it is $238.30
At 8% it is $244.12
at 9% it is $250.03

And so on and so forth

nortsr1 · June 2006

I believe GM is offering low lease rates right now, and from what I have read in the past two days, Chrysler is about to offer Employee discount pricing next week and GM is about to offer 0%financing for sixty months after July 5th. Sounds like the summer rabates, incentives are coming back once again.

jeffyscott · June 2006

Yeah, I think I saw an ad today for Impala at about $200 per month lease. I also had an email offer of $199 per month on a Mazda 6 lease, I think it was 24 mo. 24,000 miles...required about $1800 up front, though.

Someone on the Ford Fusion prices paid forum says he has lease at just over $200 with nothing up front...I think it was $227 per month.

Kirstie_H · June 2006

A reporter aims to talk with any consumer who plans to buy a new vehicle later this summer when major incentive deals are likely to be announced. Please send your daytime contact info and a few words about your expectations to jfallon@edmunds.com no later than Wednesday, June 28, 2006.

smithers1234 · July 2006

I found a good lease special, and looking for more...how do I start a new topic?

Kirstie_H · July 2006

Hi smithers,
You can't start new discussions in this area. This topic is a great place to discuss deals on new cars, whether for purchase or for lease!

smithers1234 · July 2006

I found a 2006 Honda Accord V6 with Navi, for $1000 out of pocket, $350 a month. Witout navi it's $320 a month. That's for 12k 3 years...and that's good for any dealership.

Are there any other deals that good out there???

qbrozen · July 2006

You can do even better on that Accord deal.

check out what others are paying in the Accord leasing discussion:
http://townhall-talk.edmunds.com/WebX/.ef9da10/571

But, yes, I agree, the current Accord lease incentives are great ... which is why I got one.

kyfdx · July 2006

Toyota 4Runner: Lease Questions

kyfdx · July 2006

$42K MSRP Lincoln LS V-8

$9K rebate
$5K discount

$28K purchase price..

div2 · July 2006

$42K MSRP Lincoln LS V-8

$9K rebate
$5K discount

$28K purchase price..

And probably worth about $15K in 24 months.
Yes, it's a nice car and a screaming deal, but only if you are absolutely certain that you'll keep it for over five years.
Being a rabid acolyte of Munich, if I needed an under $30K sport/luxury sedan I think I'd grab this puppy.

cccompson · July 2006

30K for a 6 year old car?

No, thank you.

audia8q · July 2006

There are some amazing discounts available on certain models right now....you found a great example in the LS. We have never had incentive this attractive on the LS....

british_rover · July 2006

I always kind of liked the LS I wish ford had not let it die.

div2 · July 2006

30K for a 6 year old car?

No, thank you.

Well, I guess I better not tell you how much I'm prepared to pay for a 27 year old car...

jaserb · July 2006

I was looking at the new incentives on the Mazdaspeed 6 and was blown away - a $269 24 month lease on a Mazdaspeed? I'm trying to figure that one out. Looks like $2500 lease cash + $500 MAC cash with a 62% residual. Something like $2500 out of pocket at signing.

Rich, do you have the money factor on that car? Are there any additional incentives that can be combined (loyalty cash, college grad, etc.)?

I'm really glad I didn't by that 4 year old WRX I was looking at a few months ago...

-Jason

cccompson · July 2006

LOL, old (non-daily driver) cars are an entirely different matter as the depreciation curve has long since passed.

kyfdx · July 2006

Just so we stay on topic... and I don't get in trouble with the real hosts of this discussion...

thanks,
kyfdx
Host-Prices Paid Forums

tidester · July 2006

LoL! We'll give you a pass ... just this once! :shades:

tidester, host

audia8q · July 2006

do you have the money factor on that car? Are there any additional incentives that can be combined (loyalty cash, college grad, etc.)?

.00171 for best credit.
no other incentives

jaserb · July 2006

Very nice. Thanks for the info, Rich.

-Jason

nehc · July 2006

Hi,
A DEALER FAX ME SOME INFO about a new 2006 Sonata GL. I was offered for about$15600 OTD.

I read the fax this evening, and found some weird information:

1.The dealer disclaims all warranties.
2.Limitation of remedies provision for consquential damages.
3.Acknowledgment that the vehicle being purchased may have sustained body damage.

The third one is the most weird, because the fax shows this car is a new one. so I really don't understand these info. :confuse:

asafonov · July 2006

The third one is the most weird, because the fax shows this car is a new one. so I really don't understand these info.

There are plenty of opportunities for a vehicle to sustain damage as it is being shipped from a manufacturer, trading between dealers or just moved around (or bumped around) the dealership parking lot. No idea what an undamaged Sonatas go for, but my gut feeling is the saving are not nearly enough, especially if the excellent Hyundai warranty is cancelled or reduced. In some sense, this is similar to buying a vehicle with a salvage title...

slingshot80 · August 2006

Many of the current deals are expiring on Septmber 5th. Any good deals coming up?

Karen_S · August 2006

A reporter seeks to interview anyone who recently bought a vehicle that was less expensive than their previous one, and was motivated to do so by the economy. Please respond to jfallon@edmunds.com by Monday, September 4, 2006, and be sure to include your daytime contact information and make/model information on the vehicles of interest.

badgerfan · September 2006

Now that Chrysler stopped employee pricing, their rebates are better.

Example: Just before their employee pricing program, I bought an new 2006 Grand Caravan SE. MSRP was $26640. Got total rebates of $4750 which consisted of 4000 for anyone+750 for those who already owned one. Also, dealer was hungry and I got nearly employee pricing anyways. Ended up paying $19555 (before sales tax and title.

During the official "employee pricing" promotion, the rebate dropped to $2000.

Now that this program expired, I see Chrysler has reinstituted $4K rebates to all on GC, and I also saw a local dealer listing $7200 off MSRP for a GC SXT, so now the deals are about as good as they were in June.

isellhondas · September 2006

They are in a hopeless trap where shoppers demand constant rebate, "employee pricing" and endless gimmicks.

jipster · September 2006

Honda hides their rebates behind something called "Marketing Support". Check out Honda Odys going for $500-$1,000 below invoice. Toyota is offering $3,000 rebates on the Tundra.

isellhondas · September 2006

Between a "rebate" and cars Honda puts incentive money on.

Also,with domestics, this never ends and the shoppers know this. Honda does this infrequently.

badgerfan · September 2006

The big difference between a rebate and an incentive provided a dealer is that the dealer incentive is much less transparent to the customer. Dealers can elect or not elect to pass the incentive on, while a rebate is just what it states it is, a rebate.

Yes, dealers can be flexible with out the door prices under either system, because there are other items like holdbacks, volume dealer incentives, monthly sales quotas, etc. that are less well understood by the buying public. So the dealer can elect to try to maximize his profit or unload a vehicle at lower profit( or even sometime a loss), depending on a lot of factors.

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