Final Frontier: Below Dealer Cost
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Washington DC May 14, 2009; The AIADA newsletter reported that the Wall Street Journal reports that the state of the automotive industry has made selling a car difficult in recent months.
However, the relatively small number of consumers looking to purchase a car right now can expect to find a sweet ride for an even sweeter price tag.
Many dealers have unusually high inventories they are looking to sell in a hurry, so buyers willing to research price trends, visit numerous dealers, and negotiate assertively can pick up a set of wheels at discounts unheard of just a few months ago.
Overall, the average transaction price for passenger vehicles has fallen 2.9 percent in the past six months, while the average cash-back incentive rose 2.3 percent in April over the previous year, according to J.D. Power & Associates.
In addition to manufacturer incentives and falling prices, the closure of automobile dealerships is resulting in excess inventories, creating the perfect storm for customers looking to get a screaming deal.
Some of the best deals are available on once-hot models, such as SUV's. Even hybrids such as the Honda Insight and Toyota Prius can be had at a discount due to reduced demand resulting from cheaper fuel prices.
To read The Wall Street Journal's full report on how dealers are slashing costs to sell their vehicles, click here.