New car incentives question

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  • CHCRandy

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    I am thinking about buying a new Malibu for my wife just because the discounts right now seem too good to pass up on 2017's. When it's all said and done I am saving about 30% off sticker price. My question is the incentives are suppose to end 10-2-17.....you think they will increase the incentives after 10-2 to get the 2017's off the lot, do away with the incentives or extend the existing incentives?

    Been pondering this for a week now....just curious what some of you think.

    Thanks
     

    Crusader17

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    At the end of the year like this you can bet the incentives are going to either increase or continue longer than advertised. It is true the dealers don't know what's coming next, they just get word from corporate on the incentives.

    Check out out how that car is selling (generally), if it's a model that typically sticks around on the lot, then the incentives are going to increase especially if the next year model is on the lot. Some cars sell very well and they don't need a lot of incentives to move them. I was looking at fords early in the year. The Taurus is selling slowly so even in May 2017, they had 2016 Taurus' with tons of incentives. However, the Fusion sells much better so there were no 2016 Fusions still around.
    Research when the new model comes out, you can be sure that the dealerships are looking at this trying to move old models to make room for the new one.

    But it is likely the incentives on a model that will soon be "last year" will either hold steady or increase.
     

    yeahbaby

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    Our youngest son just picked up a 2017 Toyota Corolla a couple of weeks back. He was initially looking at the Chevy Cruz. We took both models for a test drive. Hands down the Toyota was the best quality of the two for almost the same price. And was loaded with features. The Toyota dealership had 0% for 5 years. Paid off the little he had left to pay on his trade in. Incentives for being a college graduate, and for working at Arcelor Mittal. Good luck!
     

    GodFearinGunTotin

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    You never know. If you're ready to buy and the deal is good, it's a gamble to hold out for an even better deal...a bird in the hand and all that jazz.
     

    AtTheMurph

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    By a used car. They can't give them away.

    Pay cash. If you cannot then you should not get a car.
     

    K_W

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    Forget the Malibu, I'd take a look at the Camry. They're trying as hard as they can to get rid of 17's cuz the new body style 18's are coming in.
     

    Crusader17

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    By a used car. They can't give them away.

    Pay cash. If you cannot then you should not get a car.

    I would have to reluctantly agree. Kinda wish I didn't have a car payment, I overspent. But I love my car. And used is the way to go in terms of reducing how much depreciation you have to absorb.
     

    PistolBob

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    I haven't bought a brand new car since the mid 90's.....can't afford the immediate depreciation when you drive it home. We've had great luck sticking to buying a 1 or 2 year old model with warranty left on it.
     

    Nojoy621

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    So....I may or may not be corporate GM....and while october incentives are kept secret until the morning of the new month, I can tell you these two things.

    GM has a program called EBE, if the Chevy store has the big blue arch and looks like just about every other Chevy store, they are enrolled in this program. It is quarterly, and while the month incentives end on the 2nd (we never close a month on the weekend or holiday) this program ends today the 30th, meaning dealers have until today to hit their objective and earn big money, to you this means good deals!

    Second, it is the end of the month and end of the quarter, most 17 model year supply is very low so we will most likely start shifting incentives towards 18 model year next month, again that's just speculation and going off past years.

    added note, dealers make very very little gross off new vehicle sales less than 6% or less most of the time,so while there is little haggle room, given the time of year and programs ending they will present you with the best offer they can.
     

    CHCRandy

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    Thank you all for your replies. I think I may jump today. I never thought I would buy a new car....but I have found if I buy em right someone else eats the depreciation. My last car is a 2016 Cruze. Bought it for no money down, $88 a month lease(27 months) since it was cheaper to do that then buy it for cash, with GM discount. The residual on the Cruze is about the same as trade in value......so I felt I did ok on it. I was just going to buy it out at lease end but with the Malibu prices I am thinking of using buyout money and some cash with it and just buying the Malibu. Malibu is $27,500 and I can buy it for $18,500 + tax. You can't touch a used Malibu for what I am paying for a brand new one.....seems kind of like a no brainer. Am I missing something?

    One other note...they offered me 0% for 72 months, but then they take the incentives away and make me use GM employee discount. SO basically I pay $2000 more but get 0%. We'll see what happens. Thanks for everyone's advice.
     

    CHCRandy

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    So....I may or may not be corporate GM....and while october incentives are kept secret until the morning of the new month, I can tell you these two things.

    GM has a program called EBE, if the Chevy store has the big blue arch and looks like just about every other Chevy store, they are enrolled in this program. It is quarterly, and while the month incentives end on the 2nd (we never close a month on the weekend or holiday) this program ends today the 30th, meaning dealers have until today to hit their objective and earn big money, to you this means good deals!

    Second, it is the end of the month and end of the quarter, most 17 model year supply is very low so we will most likely start shifting incentives towards 18 model year next month, again that's just speculation and going off past years.

    added note, dealers make very very little gross off new vehicle sales less than 6% or less most of the time,so while there is little haggle room, given the time of year and programs ending they will present you with the best offer they can.


    Nojoy.......Is Hubler in Greenwood and Penske Chevy both part of these EBE dealerships?
     

    WanderingSol07

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    Today would be a good day to buy, end of the month, end of the quarter. Go in, make your offer, if they don't accept make sure they have your name and number and say I'll think about it, but if you decide to accept my offer please call me asap as I am visiting other dealers today. This will not cost you anything and you may get the deal you want. If you know how late they will be open today, wait until 1 hour before closing. If it is late, say 8 or 9 PM, then you should take a nap during the afternoon to be fresh and rested at 8 PM. I bought my last new car on 12/31/2016, a Saturday, in the afternoon. I paid $1,500 less than my offer! (They accepted my offer and during the paperwork found another $1,500 incentive I qualified for).
     

    BehindBlueI's

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    And used is the way to go in terms of reducing how much depreciation you have to absorb.

    Depreciation isn't much of an issue if you don't flip constantly. Buy and flip every 3 years, depreciation is a real concern. Buy new, drive it for 10-12y...not so much.

    The math works out different for everyone, but for real easy figuring let's say I drive 20k a year and am looking at new vs 3 year old lease turn in with 40k miles. I expect to get 200k miles out of it.

    New car - 10 years before I need to sell, car is 10 years old.
    Used car - 8 years before I need to sell, car is 11 years old.

    Both cars are going to have roughly the same value when it's time to sell, assuming we're not talking some car that suddenly becomes collectible. Just running a quick comparison of a 10y old vs 11y old Camry SE with 200k miles, the difference is $100. So the only real difference is initial purchase cost difference and an extra two years of ownership. They both depreciate to roughly $2500.
     

    Route 45

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    Why you roll your eyes at perfectly good advice?

    Just because you've always had a car payment doesn't mean continuing to do so is wise. :dunno:

    Some of the most exciting and memorable things that I have done in my life were probably not "wise"....but I wouldn't trade them for anything.
    Some of us don't go through life worrying about the bottom line all the time. I can't think of a more miserable way to live than to constantly worry about whether I could have saved another dollar.
     
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