3. Dealers Are Still Sweetening the Clunker Deal
Remember, each manufacturer has other car-buyer incentives that can be matched up with the federal rebate. Ford Motor Co. is offering an additional $1,500 cash plus another $500 if you finance through Ford Motor Credit. Toyota is offering an additional credit of $750 on its 2009 Camry or 0% financing over 60 months. Chevrolet is offering a $1,500 rebate on the 2009 Malibu. Leasing deals can qualify for the clunker rebate so long as the length of the new-car lease is at least five years. Every manufacturer distributes incentives on a regional basis so it pays to negotiate with individual dealers. However, Edmunds.com, which tracks incentive spending by automakers, said last week that manufacturers have cut back on incentives since their inventories have been pared down.