On the Money: Car buyers will find good deals this year
DETROIT (AP) — U.S. car shoppers will find plentiful deals, relatively low interest rates and lots of high-tech choices in the market this year.
Many of the factors that fueled sales last year are still in place, like solid consumer confidence and low gas prices.
More customers are buying SUVs, which are pricier than cars, and they're loading them up with features, like the premium audio and automatic liftgate package that adds $940 to the cost of a Toyota RAV4 SUV.
Deals are coming in the form of bonus cash — like a current $1,000 offer from Chevrolet — and low-interest financing, such as Subaru's zero-percent financing offer on the Outback and Forester SUVs.
Look for some of the highest incentives on slow-selling small and midsize cars, like the Toyota Camry and Chevrolet Sonic, as well as hybrids like the Ford C-Max.
Prices for used SUVs and trucks, which are in high demand, will likely stay stable this year, but used car prices will fall, says Michelle Krebs, a senior analyst with AutoTrader.com.
New cars might have the latest technology, but a certified-pre-owned car might offer perks like free maintenance or a few months of OnStar or satellite radio.
Falling used-car values mean they'll get less for vehicles that they're trading in, says Patrick Min, a senior industry analyst at the car-buying site TrueCar.com.