How to Use New Car Incentives

How to Use New Car Incentives

Everyone wants to get the best possible car for them. But this isn’t always an easy task. The first challenge is just figuring out what kind of vehicle really works for your lifestyle. Ask yourself how you need your car, truck, or SUV to perform on a daily basis. 

Once you’ve narrowed down your search to a few options, it’s time to figure out how to pay for it. And moreover, you should look to score a top-rate deal. Finding an affordable deal on a vehicle matters now more than ever, considering used cars are now on average as expensive as new cars were only a couple years ago, due to supply constraints from the Coronavirus pandemic. 

One of the best ways to ensure you’re getting the best deal, whether you’re buying new or leasing a vehicle, is to take advantage of new car incentives. Let this be your guide on how to use new car incentives to their fullest. 

What Are New Car Incentives?

New car incentives are deals offered by brands or dealerships to inspire you to buy their vehicles over another option. For example, you can potentially take advantage of Jeep incentives to find the best possible deal on a new Wrangler, Gladiator, Grand Cherokee, or another model in your area. 

Once you’ve determined your top choices for a new car, it’s time to determine what new car incentives will help you get behind the wheel. There are a few main types of new car incentives you’ll see over and over when searching for deals:

  • Customer Cash or Bonus Cash – This is exactly as implied by the name—a cash incentive. When you by a new vehicle, manufacturers will offer Customer Cash or Bonus Cash deals to persuade buyers. You’ll typically just take that amount of money off from the sale price of the vehicle—though sometimes individuals opt to take the money instead. 
  • Low-APR Financing – Most people will want to take out a loan when they purchase a new car—otherwise known as financing the vehicle. Certain new car incentives will give buyers the ability to qualify for an extremely low rate on their loan. This can be highly advantageous for getting a new car for the lowest total cost. 
  • Special Leases – Sometimes automakers will create special leases to help more people get into their cars. These are basically subsidized leases that work by determining the monthly payment based on what the car is worth at the end of the lease instead of the start. 

These are a few of the most common forms of new car incentives. You’ll certainly encounter these when looking for a new vehicle. But how should one use these to their advantage?

How to Use New Car Incentives

By utilizing incentives, you have the potential to vastly reduce the amount you’ll spend on purchasing or leasing a vehicle. It’s important to note, however, that you actually get the best possible incentive for you. 

When you find a great incentive from the manufacturer, ensure it’s truly matched by the dealer. Some dealers might offer you their own incentives they claim to be better than the manufacturer’s. While this might be true some of the time, it’s more likely there will be terms or conditions that will end up costing you more. Matching the true new car incentives offered by Jeep, its financing partners, or the equivalent for any other brand, is going to be your best bet. 

New car incentives are a key component of getting the best possible deal on a new car. By knowing how to leverage new car incentives, you can ensure you’ll get a great vehicle that fits into your budget.