The world of new car factory rebates and incentives can seem daunting when shopping for a new car. There are many different types and they can change frequently, so even if you understand them it can still be hard to keep up. Car Pro Show Host, automotive expert and former dealership owner Jerry Reynolds has the inside scoop on incentives and rebates. He says they change so frequently that even dealers themselves have a hard time keeping track (and that their goal is to get you, the buyer, as many factory rebates as possible.)
As Reynolds explains here in detail, factory rebates are designed to help dealers sell cars so dealerships can reorder more vehicles from the factory. You�ll find a lot of factory offers around holidays, at model year changeover and then at the end of the year. But you can find rebates year-round. Some revolve around slow-selling models. Some are advertised, others are not.
Below you will find information on:
Rebates vs Incentives
Types of Rebates and Incentives
4 Things to keep in mind
Rebates vs Incentives:There are factory-to-dealer rebates and incentives and factory-to-consumer rebates and incentives, and the latter are the ones we�ll define here. (Factory-to-Dealer incentives are not necessarily incentives passed on to the customer.)
Rebates:Cash rebates, like Bonus Cash, are cost reductions applied at the time of purchase to reduce the price. However, you can opt to take all or part of the rebates in the form of a check. Note, in many states, the rebates are deducted before the sales tax is applied.
Incentives:Incentives given by automaker finance companies include special low APR financing. They generally have eligibility restrictions.
4 Things To Keep In Mind
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Apr 30, 2019 12:00:00 AM