Incentives and trade-in values hit a high

August 14, 2013 12:00 AM

As many automakers get ready to roll out 2014 models and redesigns, dealers are in a rush to get rid of older vehicles. This is good news for car buyers, many of whom can take advantage of a number of lucrative incentives and special deals to save money on their purchases. 

According to data from the NADA Used Car Guide, sales of new cars should continue at a high level thanks to large incentives offered by dealers. Drivers are finding that they can take advantage of these opportunities to save. 

"Traditionally, this is the time of year when auto manufacturers increase incentives on outgoing model year vehicles to make room for the new model year fresh off the assembly line and headed to dealer showrooms," said Jonathan Banks, an analyst for the NADA Used Car Guide. 

Also contributing to new vehicle sales is the high trade-in values for used cars. Automobiles that have undergone preventative scheduled maintenance, as well as any necessary auto repair, are retaining value at better rates than in months past. This allows motorists to get more money for their old cars, much of which they can invest in a new model. 

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