Consumers are continuously looking for ways to minimize their spending when it comes to investing in a new car. Of course, people are typically aiming to purchase reliable cars that are going to serve them for a long period of time with minimal need for auto repair or vehicle maintenance. However, while most individuals acknowledge the importance of buying a quality vehicle, they are also concerned with getting the best deal possible. Many manufacturers will offer special deals throughout the year, particularly around certain holidays, presenting the perfect chance for prospective buyers to finally get that new automobile they've been desiring. A new report from a Cars.com analyst suggests that Presidents Day could actually be the ideal time to jump on these opportunities.
The perfect conditions for a deal
Multiple factors that may be contributing to these unbelievable incentives. On top of a continually unstable economy, recent weather conditions have been rather extreme across the U.S. As a result, auto sales have been lower than usual, and dealerships are struggling to attract consumers. Fortunately, Presidents Day is notorious for presenting some spectacular deals.
"Presidents Day weekend has always been one of the best times of the year to buy a new car, but we expect this weekend to be even better in terms of deals for consumers compared to the last few years," said Jesse Toprak, Chief Analyst at Cars.com.
Toprak asserted that the brutal storms, frigid temperatures and other unusually harsh conditions have slowed the traffic in dealerships across the country, causing them to provide discounts that are even greater than their typical offers. Not only are they motivated to move some of the inventory that has piled up out of their showroom, but they also need to offer generous incentives to stay competitive in the industry.
Incentives worth capitalizing on
There are a multitude of notable Presidents Day sales, but Cars.com highlighted a few that stand out. For example, the savings on a 2014 Chevrolet Silverado Double Cab All-Star Edition totals $7,029. Meanwhile, the 2014 GMC Acadia comes with 0.0 percent APR for 60 months, plus $500 bonus cash, and the 2014 Nissan Altima also boasts 0.9 percent APR for 60 months in addition to $1,000 cash back. Consumers interested in the 2013 Toyota Sienna might be tempted by the whopping $2,000 factory cash back, but it's also worth mentioning that the 2014 Dodge Durango comes with up to $1,000 cash allowance. Potential buyers should keep in mind, though, that these deals have an expiration date between Feb. 17 and March 31, so there's limited time to take advantage of them.