Purchasing a new car is an exciting experience, but there is no question that it also entails a significant financial commitment. To entice potential buyers, car dealerships often offer incentives to sweeten the deal and make buying more appealing.
If you are in the market for a new car, you can sometimes feel overwhelmed by the number and variety of manufacturers and dealership offers. Whether advertised on the radio, television, online, or in a newspaper, it seems like there is always some special program designed to draw you in with a “deal” that will only last for a short while. It can even make you a bit anxious, feeling pressure to go car shopping before you’re ready, worried that you will miss out on a special deal.
At Mike White Ford, we certainly like to let our customers know if there is a special offer, but the good news is that you don’t have to watch the calendar and worry. The fact is Ford always has active incentives available, even though they change. Ford Motor Company provides new incentives to its dealers every month, so you can’t really “miss out.”
If you are ready to go car shopping, give us a call or come into one of our two family-owned dealerships in Coeur d’Alene or Sandpoint to find out what incentives are currently available. Even if none of them appeal to you at a particular time, you can be sure that there will be other offers in the pipeline that just might be the program you are looking for.
Types of Manufacturer and Dealer Incentives
Incentives come in various forms. They can save buyers money, enhance their car ownership experience, or provide added convenience. Here are a few of the most common types of vehicle incentives to help you evaluate what offers are most likely to match your priorities.
Cash Rebates
Cash rebates are one of the most prevalent types of incentives offered by car dealerships. These are typically offered by the manufacturer and vary in amount depending on the model. Cash rebates generally are applied as part of your down payment, resulting in instant savings. They translate directly into less out-of-pocket, whether a buyer pays cash or needs to finance. Rebates can also enable buyers to add to their purchases through extended warranties or an upgraded vehicle package. This type of incentive is common and one of the most popular incentives that dealerships offer.
Low or Zero Percent Financing
Even when standard auto loan rates are relatively high (such as now), many car dealerships can offer lower-than-market loan rates. This can come either directly from the manufacturer’s financing arm or from a lender with whom the dealership has made an agreement. Low or zero percent financing incentives enable buyers to save on interest charges over the duration of their loans, and that can add up to significant savings, sometimes into the thousands of dollars. If you have good credit and need to finance a vehicle, this incentive is particularly appealing and can get you into a car without worrying about current market rates for credit.
Lease Deals
Leasing a car has become increasingly popular in recent years. Leases can enable you to drive a nicer car than you might be able to afford as a purchase and, depending upon your lease terms, allow you to upgrade vehicles more frequently. The popularity of leases has encouraged dealers and manufacturers to increase the number and type of lease incentives on offer. These deals may come with lower monthly payments, reduced or no down payment, higher mileage allowances, or shorter lease terms.
Trade-in Bonuses
To encourage buyers to trade in their old vehicles, car dealerships may offer trade-in bonuses or guaranteed minimum values for their trade-ins. This incentive helps simplify the buying process by providing buyers with a seamless way to sell their old vehicles while reducing the overall cost of the new one. Trade-in bonuses can be a significant advantage for a buyer looking to upgrade a current car without the hassle of selling it privately.
Manufacturer Discounts
Manufacturers occasionally offer discounts on specific models or during certain periods for their promotional campaigns. These discounts can be substantial – often in the thousands of dollars. A discount is a little different from a rebate. With a discount, the car is sold lower than the sticker price. If you already know what kind of car you plan to buy, it makes sense to keep an eye out for manufacturer or dealer discounts on that model to secure a great deal on your new car.
Extended Warranties and Service Packages
If vehicle maintenance costs are one of your pet peeves, extended warranties or service packages as incentives may be the thing for you. In fact, increasing maintenance costs on an older vehicle often spur people into shopping for a new car. Even if new car payments may cost more than repairs, many people prefer the peace of mind that goes with knowing that if anything goes wrong, it’s covered. Car payments are a known fixed quantity, while repair costs can often blindside you when you least expect them. Packages that cover maintenance, repairs, and other services for an extended period beyond the standard warranty can ensure a positive ownership experience.
Call Mike White Ford To Find Out About Ford Incentives
Everybody likes to save money when shopping, including when shopping for cars. Thankfully, there is always some incentive available at Mike White Ford, and we are happy to work with you to find out which offer will suit your budget and priorities best. Call Mike White Ford today to find out what offers we have at any given time and how they might help you get the Ford vehicle you have been eyeing.