Best Car Deals of April 2009

Carmaker Car Deal Expires BMW 0.9% APR financing (up to 60 months), plus no payments for 60 days on some 2009 models 5/31/09 Buick, GMC, Cadillac,Chevrolet, HUMMER, Pontiac, Saturn, Saab 0% APR financing for up to 60 months on many models. Cash back rebates also available on some models. New GM Total Confidence Plan includes payment protection, some protection against negative equity. 4/30/09 Chrysler, Dodge, Jeep Employee Pricing Plus Plus sale - 0 % APR financing for 36 months, plus employee pricing discounts, plus cash back offers varying by model TBA Ford 0 % APR financing for up to 60 months, rebates as high as $5,000 on many 2009s, plus payment protection under new Ford Advantage Plan 6/30/09 Toyota Toyota deals vary regionally, but many models are available now with 0% financing or cash-back rebates as high as $4,000 4/30/09 Mazda 0 - 0.9% APR financing for 36 months, which can be combined with cash back offers on most models 4/30/09 Volkswagen 0% APR financing (60 months) on 2009 Passat Wason, Routan and Touareg, 3.9% APR financing on most models 4/30/09 They want you to buy a car so badly, they'll make the payments for you. The automotive industry faces a massive challenge in 2009. March sales figures showed s light bump from February's numbers, but still suggested that Americans may buy as few as nine million cars this year. Just a few years ago, automakers routinely sold 15 million or more. They've scaled back production many times, but still face a backlog of inventory that may stretch past two million unsold cars this year. But repeated attempts to slash prices haven't brought car shoppers back. Hyundai, however, has seemed insulated from the industry's troubles. The Hyundai Assurance Plus program is largely credited with the company's success in a tough market. The program will make up to three payments on a buyer's behalf if that buyer should lose their income. If that isn't enough, it then allows the buyer to return the car and walk away from the payment with no damage to their credit rating. This month, Ford and GM want to top it. Ford introduces its Ford Advantage Plan, which will make up to twelve payments for a buyer who loses their job. GM's Total Confidence Program will make nine payments in the first 24 months, and under some circumstances, will late you trade in your new GM vehicle on another GM vehicle in a few years and let the company eat the cost of depreciation. Other methods are being used to try to spur buyers into action as well. GMAC has lowered its credit standards, lending to subprime borrowers for the first time in months. Even the government has stepped in, offering to guarantee warranties if a major American automaker should fail. They haven't given up on cold, hard cash, either. We still found enough low-rate financing offers and cash-back rebates to make choosing the most enticing a challenging task this month. It isn't clear whether anything will bring buyers back in a recession. But everything is being tried. Below, we profile the most impressive offers on impressive vehicles you can find in April. Before heading out, be sure to check out our guide to negotiating in a down market and use our online tool to get price quotes from multiple dealers. If you're looking for a car that's a great deal over the long haul, check out the 2009 U.S. News Best Cars for the Money Award winners.

The Best Deals we found this month are listed below:

Small Cars MSRP:$15,350-$20,050 Invoice:$14,352-$18,345 MPG:26 City/35 Hwy 2009 Toyota Corolla: 0% APR for 36 months, or up to $2,000 cash back In the midst of a recession, a car's most important feature might be its dependability. The Toyota Corolla does everything fairly well, never scoring below average in any of the criteria we use to rank cars. But its top scores come in reliability and safety. Perhaps that's why it's remained one of the five best-selling vehicles in America through all of 2008 and 2009. The Corolla is a solid investment you don't have to worry about. Over time, its dependability is money in your pocket. This month, it will also set you back less money up front.

Get free, competing Toyota Corolla Price Quotes using our new dealer quote tool.

Midsize Cars MSRP:$19,035-$25,605 Invoice:$17,707-$23,429 MPG:20 City/329Hwy 2009 Ford Fusion: 0% APR financing for 72 months or $3,500 Cash Back The 2009 Ford Fusion is one of the best midsize cars on the road. With a distinctive shape that is more angular than most of its competitors and a surprisingly well-designed interior, it's pleasant inside and out. With sharper handling than many competitors, it's sportier than many would expect from a family car. But it has a problem. The 2010 Fusion, a wheels-up redesign of the car, reached dealerships last month. Ford needs to sell its remaining 2009s. And while the 2010 is a better car in some ways, this offer means the 2009 may be the best value in the midsize class this month.

Get free, competing Ford Fusion Price Quotes using our new dealer quote tool.

Large Cars MSRP:NA Invoice:NA MPG:17 City/25 Hwy 2009 Pontiac G8 GXP: 0% financing for 72 Months or $3,500 Cash Back As automakers have lowered prices over and over in recent months, the automotive press has started toying with new measurements. "Horsepower per dollar" is one of the fun ones. And that's where this deal shines - the 2009 Pontiac G8 GXP is a comfortable family car, with a remarkably spacious interior. But under the hood, it hides a barely modified version of the Corvette's engine. The big V8 makes 415 horsepower. This month, it's available with a $3,000 rebate, or an interest-free, 72-month loan for qualified buyers - keeping payments very low. That's a lot of thrust for a family car, and a lot of horsepower for the money.

Get free, competing Pontiac G8 Price Quotes using our new dealer quote tool.

Compact SUVs MSRP:$14,000 (Estimated) Invoice:NA MPG:24 City/30 Hwy 2010 Kia Soul: 0% financing for 36 months The Kia Soul just began making its way onto dealership lots last month, and already it's carrying an interest-free financing offer. The Soul is part of a utilitarian army of small, boxy, economical vehicles that has begun to proliferate on American roads. No off-road machine, it's built to be versatile on the road, maximizing both cargo space and fuel economy. It debuts with an MSRP under $14,000, and with an EPA rating of 24/30 mpg (with automatic transmission), the Soul is likely to be a solid investment flexible enough to meet the needs of many buyers without straining their budgets. There's always some risk in buying a new model with an unknown reliability history, but the Soul is covered by a 10-year/100,000-mile warranty to help offset any concerns.

Get free, competing Kia Soul Price Quotes using our new dealer quote tool.

Midsize SUVs MSRP:$28,550-$36,810 Invoice:$26,842-$34,072 MPG:17 City/24 Hwy 2009 Ford Flex: 0% APR Financing for 60 Months or $3,000 Cash Back In a crowd of look-alike midsize SUVs, the Ford Flex stands out. Its retro good looks might actually turn a head or two. But the real allure of the Flex is inside. One of the only midsize SUVS to offer a usable third row of seats, it bridges the gap between an SUV and a minivan. Available features like a built-in refrigerator and separate sunroofs for each second-row passenger make the rear seats of the Flex a pleasant place to be. And a smooth driving experience makes the front seat enjoyable, too. This month, it's all available interest-free, or with a cash-back rebate.

Get free, competing Ford Flex Price Quotes using our new dealer quote tool.

Large SUVs MSRP:$50,455-$53,260 Invoice:$46,923-$49,532 MPG:21 City/22 Hwy 2009 Chevrolet Tahoe Hybrid: 0% APR Financing for 60 Months This offer repeats its appearance as our top large SUV deal for a second month. The Chevy Tahoe remains the top full-size SUV in our rankings - an honor it held for all of 2008, and, so far, all of 2009. It's also our Top Large SUV for the Money this year. If the naysayers are right, and GM got itself in trouble by putting too much work into large SUVs, then this is the fruit of that labor. With an upscale interior, a smooth driving experience that belies its huge size, and a tow rating that proves its work-truck bones, the Tahoe may be the best large SUV built today. The hybrid edition even manages mileage numbers that would be competitive in a smaller class. This month, it's available interest-free. This offer applies to the standard Tahoe as well.

Get free, competing Chevrolet Tahoe Hybrid Price Quotes using our new dealer quote tool

Pickups MSRP:$19,375-$41,355 Invoice:$18,503-$38,253 MPG:15 City/20 Hwy 2009 Chevrolet Silverado: 0% Financing for 60 Months Our Best Pickup for the Money award winner, the Silverado combines a reasonable entry price with long-term reliability that keeps its cost low over time. It's easy to live with day-to-day, with a comfortable ride and handling that makes it feel smaller than its size. But it works hard on the job, with a respectable tow rating and versatile off-road capabilities. And in either role, it offers one of the highest fuel economy ratings of any full-size pickup. It's available interest-free this month

Get free, competing Chevrolet Silverado Price Quotes using our new dealer quote tool.

Dream Car MSRP: N/A Invoice: N/A MPG: 11 City / 17 Hwy 2009 BMW M5: 0.9% APR for 60 Months, First Two Payments Waived A 500-horsepower V10. A an advanced 7-speed transmission developed just to maximize the power of that V10 - with no mechanical connections, this thing accepts driver inputs like a manual but responds in 80 milliseconds. An Electronic Damping Control that continuously re-tunes the suspension in response to driving conditions and how hard the driver is pushing the car. Ten separate throttle butterfly valves to make the engine's exhaust note as insane as possible. There is nothing BMW engineers didn't think of with the M5. It is perhaps the world's finest sport sedan. Apparently, however, it's difficult to sell this car in a recession. This month, it's available at a very low interest rate - and for a limited time, BMW will make the first two payments for qualified buyers.

Get free, competing BMW M5 Price Quotes using our new dealer quote tool.

By Sean Tucker
Source: http://usnews.rankingsandreviews.com/

9 Auto Loan Tips

We’ve outlined our top 9 tips for getting an auto loan and getting the most competitive auto loan rate based on your credit score. Print them out if you need to – you don’t want to forget these tips. They can save you thousands of dollars over the next few years on your auto loan payments.

1. Order your credit report and credit scores.

Know your credit scores and what's on your credit reports. You can do this on the internet in five minutes. You can order all three credit reports and all three credit scores (Experian, Equifax, and Transunion) at once on sites like FreeCreditReport.com and myFICO . Everyone is entitled to a free copy of their credit report each year. However, the free copy does not include your credit scores. Your credit scores are what the Finance Manager uses to determine the interest rate on your auto loan. If you only want to order one credit report, FreeCreditReport.com (an affiliate of Experian) and Equifax Credit Report sell individual report/credit score packages.

NOTE:Keep in mind that the finance manager (the dealerships' loan manager) may pull more than one credit report to determine your auto loan rate. The information reported by each of the three credit agencies (Experian, Equifax, and Transunion) can vary. To avoid being overcharged, order all three credit reports and all three credit scores prior to signing any loan documents. This will give you a chance to correct any inaccuracies on your credit reports that could result in being charged a high auto loan rate.

2. Complete an online auto loan application.

Before you go to the dealership, complete an online auto loan application with another bank. Prepare for Car Loan Scams with an online auto loan application. You can do this online and get the results in just a few minutes. Websites like Capital One Auto Finance and HSBC Auto Finance offer easy online auto loan applications with fast response times. By completing an online auto loan application, you give yourself an escape plan in case the dealer offers you a higher auto loan rate.

Lenders for Good/Excellent Credit

• Capital One Auto Finance
• HSBC Auto Finance

Lenders for "Bad Credit"

• RoadLoans
• HSBC Auto Finance
• Harbor Credit

3. Don't tell the dealer.

Don't tell the dealer that you have another auto loan until you finish negotiating the price of your car, the extended warranty, and trade-in (if applicable). Why? If they know they won't make money on the financing, they will be more conservative on the vehicle price, extended warranty, and trade-in (Check out other options for Selling a Used Car ) Finish negotiating the price of your car, extended warranty, and trade-in (if applicable) before negotiating loans.

4. Negotiate a lower auto loan rate.

Use an online auto loan to negotiate a lower rate with the finance manager. Your back-up loan from Capital One Auto Finance or HSBC Auto Finance can be used to get an even better deal out of the Finance Manager. Let them know you will be using another auto loan for the financing. They will ask for your approved auto loan rate and offer up a lower rate if they have it available. If they can't match or beat the rate of your "back up loan", then you haven't risked anything. NOTE: Remember the three things that determine a monthly payment (see above). If the auto loan rate is higher and they say they can "save you money", it's not true. They are increasing the length of the auto loan - which will cost you more money (maybe even $1,000's). Read more at Car Loan Scams

5. Refinance your auto loan.

If you discover that you dealer gave you a high interest rate, refinance your auto loan. Many people don't realize that you can refinance an auto loan. You can refinance your auto loan rate on websites, like RoadLoans . If your dealer stuck you with an ugly interest rate, give one of these sites a shot. It can be a real money saver!

6. Cash Rebate vs. Low Auto Loan Rate.

Calculate whether you should accept a cash rebate rather than a Low APR offer. If you have the choice between a Cash Rebate and a Low Auto Loan Rate on a new car, you need to visit our Dealer Loan vs. Cash Rebate page. We give you an easy 3 step calculation to determine which will save you more money over the time you plan to keep the car. The step can save you $1,000's over the time that you drive your new vehicle.

7. “Less than Perfect Credit”

If you have “bad credit”, complete auto loan applications with “less than perfect credit” lenders. The worst thing someone with bad credit can do is to complete multiple auto loan application after auto loan application only to get rejected each time. This will eventually hurt your credit score even more. (Numerous credit inquiries on your credit report are a red flag to lenders.) Instead, complete an online auto loan application with a leader that is tailored for customers with less than perfect credit, such as, RoadLoans or HSBC Auto Finance . These companies offer online auto loans to people with low credit scores. This will save you time and reduce the number of credit inquiries on your credit report.

8. “Good Credit”

If you have “good credit”, don’t assume that the Low APR offer is the best way to go. You may be asking - how can 1.9% financing not be the best option??? If you are offered 1.9% financing OR $5,000 cash rebate, which do you think will save you more money? Guess what? The answer is different for every buyer. Factors such as your down payment, trade-in, and your credit scores will affect which option saves you more money. Visit our Dealer Loan vs. Cash Rebate page for the easy 3-step calculation to determine which saves you more money.

9. Remember All the Salespeople.

Remember: The person handling your car paperwork is also a Salesperson. Many are misled to believe that this "banker" type person is just getting your paperwork and financing in order. This person is actually a salesperson too and they can be very sly at their job! You may feel that once the "car salesperson" is gone, you are safe. Wrong! Dealerships make a lot of money when car buyers visit the Finance Manager's office. Dealerships make money on auto loans and leases, as well as, Extended Warranties , Gap Insurance, and many, many little add-ons that the Finance Manager sells. It's important to negotiate items, such as an Extended Warranty or Gap Insurance before you arrive at the dealership. These items can be purchased from independent companies too and the cost can add up if you don’t compare pricing with other companies first.