Looking for a new car for the New Year? You can take advantage of the large year-end incentives being offered by most of the car companies.

Year-End Incentives are Threatening Car Companies Profits

2013 is coming to an end quickly, so what does that mean for car companies? They are practically giving their vehicles away! Many of us already know that the end of the year is one of the best times to buy a new vehicle because the dealerships start offering incentives to get rid of their inventory before the 2014 models arrive – and also to meet their yearly quota – but nobody expected the deals to be this good.

When a customer walks into a dealership, it's usually he/she that has the rapid heartbeat and nervousness to see what kind of interest rate they are going to be offered, but this year it's the salesmen that have fast beating hearts. With so many of the cars, trucks, and SUVs on their lots qualifying for 0% financing, they could be losing a lot of money with each customer that crosses their path.

With that being said, investors of the Big Three, (Ford, GM, and Chrysler), are also wiping sweat from their brow. Not only are these companies offering 0% interest rates on many of their models, but they are also offering cash back incentives which can severely hurt their profit for the fourth quarter. The manufacturers have their backs against a wall at this point and realize that this is the only way they will be able to sell the over-abundance of 2013 vehicles that are still on their lot to make room for the new models.

Which Cars to Keep an Eye Out For

All manufacturers are offering these crazy low interest rates and cash incentives, but Ford, GM, and Chrysler seem to be taking the biggest hit so far. If you're looking to buy an American-made vehicle before the year ends, you will do good to keep your eyes peeled for the following:

  • Chrysler
    • 2013 Chrysler 300 is being offered with a 0% APR for up to 72 months (only on certain trim levels, though)
    • 2013 Chrysler Town and Country also has 0% APR for up to 72 months with possible cash back to qualified applicants
  • Ford
    • 2013 F-150 XLT SuperCrew or SuperCab 5.0L w Luxury Package for 0% APR for 60 months, and you can also save up to $8,000 on the purchase.
  • Chevrolet
    • Chevy has not released any word on the interest rate incentives they will be offering this month, but they did say that they expect their pick-up and SUV sales to climb
    • The 2013 Chevrolet Tahoe, Suburban, and Avalanche all are offering a $2,000 cash back incentive for qualified buyers
    • The 2013 Silverado 2500 and 3500 have a $3,000 cash allowance for qualified buyers
  • Cadillac
    • The luxury brand of General Motors is getting in on the action with a $3,000 cash allowance on three versions of the 2013 Cadillac Escalade
  • GMC
    • $5,000 cash allowance on the 2013 Sierra 1500 Crew Cab
    • $5,500 cash allowance on the 2013 Sierra 1500 Extended Cab

Incentives this steep and attractive means the car companies to could be eating a large chunk of profit that they would otherwise get, but they say they aren't too worried because they believe they will be able to make up the loss next year.

Are you a Qualified Buyer?

When the companies states that these incentives are only available to qualified buyers, they are generally talking about borrowers with a good credit score above a certain number. That number is not concrete and each company will have their own opinion of what a 'good' score is. The best thing for you to do before you walk into your local dealerships is to pull your free credit report online to see where you stand. If you believe your score is good enough to qualify for the incentives offered, you can work with almost any dealership. If your score is pretty low – chances are you can't just waltz into any dealership on the street.

No, that doesn't mean you won't be able to get one of these new vehicles, it just means you will need to work with a bad credit car dealership to do so. The dealerships that Auto Credit Express is partnered with are able to get you approved for an auto loan on any of these cars on the list. While you may not qualify for the 0% being offered, you can still qualify for a lower rate than you would qualify for at any other time of these cars on the list. While you may not qualify for the 0% being offered, you can still qualify for a lower rate than you would qualify for at any other time of the year.

As We See It

I don't know about you, but now seems like the perfect time to break down and trade in that old junker you're driving around in and buy the brand new car you've had your eyes on. Even if you have bad credit scores – or even no credit – you can still get a new vehicle at an affordable price and skip the buyer's remorse and feel good about your purchase.

To get started today, fill out our online car loan application, and we will be able to get you in touch with the nearest dealership to you that can help you drive away in your new car today.