With Labor Day weekend approaching, many car dealers and manufacturers will be rolling out incentives in an effort to move out the old 2010 stock and make way for redesigned 2011 models. For buyers with bad credit, this is the perfect time to buy a vehicle, as the savings allow them to buy vehicles that might normally be outside their price range.
The first step for these buyers is to secure their car loan, which they can do easily by applying online. By getting their financing ahead of time, buyers increase their purchasing power at the dealer and have more room to negotiate, as they’ll know the payments they have to make and financing available to them.
For example, many dealers offer 0 percent financing on models during Labor Day weekend as a way to sell vehicles. These usually come with a cash back rebate as well. But if a buyer already has a loan with payments that he is comfortable with, he can take the cash option – and walk out of the dealer with money in his pocket.
One vehicle currently offering this is the Jeep Grand Cherokee. This popular model will be redesigned for 2011, so the older models are going quickly. Drivers who buy a 2010 Cherokee can get a $5,500 cash rebate on the spot.