Incentives of Chryser,Ford,GM,Hyundai,Mercedes or Dealers,Government You May Consider
Manufacturers, dealers and even the government are desperate to lure customers to new car lots. Here are some of their programs.
Local incentives
On the local level, you're likely to find Internet coupons and service discounts on dealership Web sites.
Manufacturer incentives
Incentives such as 0 percent or low financing and rebates are common even when dealers aren't hurting.
Customers with excellent credit might be eligible for the financing offer, but most consumers will not.
Before you head to the dealer, have some idea of your credit score and try to pre-qualify for loans with other institutions. You'll be able to calculate the actual cost. Here are some of the other programs.
Chrysler (Dodge, Jeep). The "Employee Plus Pricing" campaign promises customers who buy new 2008 or 2009 vehicles will have access to the same prices as company employees.
Ford (Lincoln, Mercury, Volvo). The "Ford Advantage Plan" will cover payments for 12 months up to $700 if a customer loses his job after purchasing the vehicle. Eligibility for the program ends June 1.
General Motors (Chevrolet, Buick, Pontiac, GMC, Saturn, Hummer, Saab, Cadillac). The "Payment Protection Program" will pay a customer's car payments up to $500 for 9 months if a customer loses his job due to economic conditions. The program is available to customers who purchase a new car between April 1 and April 30.
Hyundai. The "Hyundai Assurance Program" allows customers to return the newly purchased vehicle if they lose their jobs. The program will pay for up to $7,500 of negative equity. Customers who purchase a car before April 30 can take advantage of the "Hyundai Assurance Plus Program," which offers a 90-day payment relief option before returning the vehicle if the customer loses his job.
Mercedes-Benz. The "Destinations" program allows customers to receive hotel upgrades and other travel amenities at certain locations.
As with all similar programs, these special incentives come with a lot of fine print. Make sure you read and understand the entire agreement before you purchase the car.
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Government incentives
Federally-backed warranties. The federal government will back any warranties on General Motors or Chrysler products in the event the companies file for bankruptcy or are unable to honor the warranty.
Tax credits. Customers who buy or lease a new hybrid gas-electric car or truck are eligible for an income tax credit for vehicles purchased on or before Dec. 31, 2010. The amount of the credit depends on the fuel economy and the weight of the vehicle. The tax credit will be phased out for the manufacturer once the company has sold 60,000 eligible vehicles.
Cash for clunkers. The House of Representatives is considering legislation commonly referred to as the "Cash for Clunkers" bill that would provide tax incentives of $3,000-$5,000, or a mass transit voucher, to consumers who trade in vehicles at least eight years old for ones that get better fuel economy.
