Making the most of the deals

The summer is about to end, and autumn is closing in. With the arrival of September comes Labor Day, the last hurrah of the warm season, the time for one last weekend getaway, a trip to the beach, or maybe a BBQ with friends. That’s all well and good, but in the auto world, Labor Day weekend is considered one of the hottest times to go buy a car. Deal hunters will be out in droves this weekend, enticed by the various deals and bargains offered by dealers as 2018 models make way for the new 2019 models. But the question is - is it worth it?

Sure, it makes sense to look for big savings this weekend, but as you might expect, there’s a whole lot more to it than that. In this quick guide, we’ll outline some of the basics of buying a car, plus the pros and cons of car shopping on Labor Day weekend and a few deals to look for

Continue reading to learn more about Labor Day Weekend Car Shopping.

The Basics

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Buying A Car

To buy a car, you need to first establish your budget, which should include the monthly payment you can make, insurance costs, taxes, titles, and registration costs.

Next you’ll need to get a loan, which you can acquire either from the dealership where you buy the car, the automaker, or a credit union. Also take into account any rebates or deals offered through the manufacturer.

Leasing A Car

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A lot of folks will opt to lease a car, as opposed to buying one outright. Leasing a car gives you less money down (the initial payment if you buy something on credit), and lower monthly payments, but it puts limits on how far you can drive the car and requires you to be more attentive to the car’s maintenance.

There might also be a penalty associated with early termination of the lease.

If you like to trade up every couple years, then a lease might be the way to go.

Also, don’t forget to check your credit before heading to the dealership.

The Pros

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One of the biggest reasons Labor Day is the time to buy is the way in which sales numbers are reported. The final figures will soon be due, which means dealers will be scrambling to move cars as the new models arrive.

As such, 2018 models will be get tagged with all kinds of enticing deals, lik longer loan terms, low-interest financing, and extra cash as well.

That said, some of these deals might be restricted to certain areas, so check up with your local dealers. Also, don’t be afraid to look at newer 2019 models as well, as they too might have some great money-savers attached.

To get you off on the right foot, we’ve listed 10 deals to look for below, courtesy of US News.

The 2018 Buick Enclave is a popular model around the world, including here in the U.S., and in China as well. Essentially a more luxurious take on the Chevrolet Traverse, the Enclave was totally redesigned for the 2018 model year, bringing a new V-6 engine, a new platform, and freshly updated cabin and safety technology to boot. Get one with 0.9% financing for 60 months and up to $1,250 bonus cash.

If it’s luxury, style, and performance that you’re after, the 2018 Cadillac CTS has the goods. With loads of power under the hood, sumptuous materials in the cabin, and tech like a Wi-Fi hotspot and wireless device charging, this Caddy is ready to roll.

Pick one up at 0% financing for 60 months plus $2,000 bonus cash.

The 2018 Ford Escape is a great compact SUV, standing out in the segment thanks to its large amount of interior space, impressive safety ratings, and performance on the road. It also comes with the latest infotainment features you’d expect, such as Apple CarPlay and Android Auto. Look for 0% financing for 72 months plus $1,000 bonus cash.

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Hyundai has been on a real tear lately, offering up high-quality automobiles for not much outlay, and the 2018 Elantra is no exception. Not only is this model spacious, comfortable, and well-appointed, but it’s got the reliability and and gas mileage you need. What’s more, you can grab one at 0% financing for 72 months and $1,000 bonus cash.

Compared to the previous model year, the 2019 Honda Odyssey might not offer too many upgrades, as the nameplate just got a generational changeover last year. That said, the Odyssey is still a solid buy, and you can get one at 0.9% financing for 36 months.

The 2018 Kia Sorento has been around since 2002, and now sits at a third generation.We think it looks pretty good, while the new six-speed automatic transmission mates to either a 2.4-liter four-cylinder or a 3.3-liter V-6. You can get one at 0% financing for 72 months.

Who doesn’t want a little extra zoom zoom in their life? The 2018 Mazda CX-5 certainly provides on that front, offering up 187 horsepower and 186 pound-feet of torque to drive the marque’s fantastic handling chops. Look for 0% financing for 60 months.

Mating standard AWD with loads of interior room and a capable chassis, not to mention impressive fuel economy and high safety ratings, the 2018 Subaru Forester is a solid pick for those buyers looking for something that can do it all. Grab one with 0% financing for a limited term.

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We were utterly smitten by the 2018 Toyota Camry upon its debut, and luckily, that attraction has lasted beyond the honeymoon phase. Offering a new, more aggressive exterior style, lighter underpinnings, an improved engine lineup, and a more polished interior, the Camry looks to maintain its position as one of the best compact four-doors on the road.

Now, you can pick one up at 0.9% financing for 48 months plus $500 bonus cash.

The Volkswagen Golf is an absolute icon for the German brand, and the latest 2018 SportWagen iteration brings all the same good stuff as the hatch, plus extra space in the rear. Up front, look for a standard 6.5-inch touchscreen, which comes equipped with both Apple CarPlay and Android Auto.

The Cons

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The thing about Labor Day deals is that it hurts the consumer’s biggest bargaining chip – the walk away.

Sales people will do everything short of chaining you to their desk to keep you in the game, but with Labor Day deals, there’s a time limit that’s gonna run out. But don’t be fooled, because that pressure can work both ways – the dealer will also be inclined to make a deal with the looming sales numbers deadline. Just expect the full force of tactics to come into play.

Other cons to car shopping on Labor Day weekend is an overflow in buyers, which will flood the lots as they search for a deal.

That means you might get brushed off by the sales people, especially if you appear too picky.

Finally, Labor Day deals usually involve a limited inventory, which means while you might get a great deal, you might not get your car in your preferred color or with your preferred features. If you wanna save big, be prepared to compromise a little.

Final Tips

Basically, it comes down to this – do your research, set a budget, and look high and low for your perfect ride. And never, ever be afraid to walk away.

And use common sense – if you find an absurdly low monthly price for a Maserati Ghibli, odds are there’s more to it than the sales guy is telling you.

Source: US News

Jonathan Lopez
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