Local News

It's a Great Time to Buy a Car ... Or Is It?

Posted Updated
Auto dealers say this is a good time of year to buy a new car.
RALEIGH — It happens every year. The cold weather isaccompanied by a blizzard of car ads saying that "now" is the time to buy.But is it really less expensive to take the plunge at the end of the year?WRAL-TV5'sBrian Bowmandid a littledigging, and discovered that you can save money if you know the facts.

The decision to buy a new car has been weighing on Minora Hicks' mindfor weeks. Thanks to some year end rebates, she's finally making her move.

For the next few days, dealers are doing their best to send you home inthe latest model. Dealer John Howell says this just might be the idealtime to take them up on it.

Lenders say this is the time of year many people get their best deals onnew cars because there are so many models available from 97 and 98.Just about any dealer would rather sell the cars now than hold onto themand pay taxes later.

Lenders say the deals are there, but you should avoid rushing into apurchase. Loan officer Rhonda Summerlin says it's fairly easy to savemoney right now. First, look for rebates and have a down payment ready.Search for the lowest interest rate you can, and if you own your own home,keep in mind that an equity loan could save you hundreds.

The task will take some patience and leg work, but with the rightamount of each, deals can be found.

Image
1 / 4

Copyright 2022 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.