Car dealers’ sales and the number of customers coming into the dealerships have decreased dramatically over the past several months. The recent high gas prices have caused many dealers to sell less SUVs and more fuel efficient cars. All of these problems are causing many car dealers to come up with creative ways to sell more cars. Some dealers are being forced to make desperate decision that they would have never thought about doing a few years ago. One of the things car dealers are doing to attract more customers is offering more incentives than they normally would.
Many people are wondering how automakers and car dealers got into this desperate situation. The current economy and recent high gas prices are just a few of the reasons the auto industry is having so much trouble. One of the main reasons many automakers are having a hard time is because several of them refused to make fuel efficient cars and continued to make gas guzzling SUVs and trucks. Another reason the auto industry is struggling is because many of them produced too many cars. The automakers negligence has caused them to close factories and dealerships and layoff thousands of employees.
Below is a list of a few things car dealers are doing to attract more customers:
Buy One Get One Free
A few auto dealers are offering customers a chance to buy a truck of SUV and get a fuel efficient car for free. The auto dealers that have promoted this are hoping many customers will be tempted by this offer and help get rid of the SUVs or trucks that are sitting on the lot. This is a risky and desperate promotion because many customers would not be interested in buying a truck or SUV just so they could get a fuel efficient car for free.
GM gave their customers a chance to cars at the same price their employees pay. GM has ended this promotion but Ford has recently started this promotion.
0% Interest and Cash Back
Several car dealers are currently offering 0% interest or cash back on 2008 models.
Is this a good time to buy a car?
This is a great time to buy a car if you have good credit or enough cash to pay for a car. The banks are making it harder for people who have bad or low credit scores to buy a car.
Many car dealers are reducing prices every week. The types of cars that are being deeply discounted are used SUVs, trucks, and even some luxury vehicles are less expensive than they were two or three years ago.
If you have recently decided to purchase a car, it’s a good idea to do as much research as you can so you can get the best deal.