GM Rebates

If you're thinking of buying a new car this year, you might consider taking advantage of some of the GM rebates being offered to help boost sales of new vehicles. These incentives can make it even more attractive for buyers to purchase a General Motors vehicle.

GM rebates can save you hundreds of dollars.

Recent years have spelled hard times for U.S. automakers. Climbing gas prices in the summer of 2008 caused consumers to focus on gas mileage and the impact their vehicle had on the environment. However, many American automakers, riding the tide of cheap gas prices, a booming economy, and consumers' hunger for powerful trucks and SUVs, were caught unaware. They simply weren't in a position to compete for buyers who suddenly needed fuel efficient vehicles.

General Motors and other American automakers have always used incentives like cash rebates to help attract buyers, but the economic situation has forced them to offer unprecedented deals on new vehicles. Buyers can take advantage of this situation by buying cars with attractive rebates.

Typically, a rebate is a refund of part of the purchase price. You receive the money after the purchase of the vehicle. It's an attractive incentive for buyers because it usually means cash in your pocket. Cash rebates for GM vehicles can vary anywhere from a few hundred dollars, all the way up to $3,000 for a new GMC Envoy. You'll find especially great deals on models the dealer wants to move quickly, such as large SUVs.

It's always a good idea to think about car buying strategies before heading to the dealership. Knowing what you want, how much you can afford to spend, and how to negotiate the best new car deal will save you big money when you step onto the lot.

When you buy a new car, it pays to do some research. Regardless of current rebate offers, you should know what the dealer paid for the vehicle in order to bargain for a good deal. You'll also want to set a budget for your new vehicle.

Rebates are a great way to stretch that new car budget a little further, but you need to be informed before you talk to the dealer. When you're ready to buy a new vehicle, do everything you can to educate yourself about rebate options. Do Internet searches, scour the manufacturer's website, and finally, call several dealerships to get multiple opinions.

You've probably heard about "qualified buyers" in those car commercials on TV. Usually, this refers to buyers who have a credit score that makes them desirable to lenders. These buyers can qualify for incentives like lower interest rates and more attractive lease terms.

However, when it comes to rebates, everyone qualifies. Because a rebate is simply a refund to the buyer, it has nothing to do with credit history. So if you have shaky credit, it might pay to finance your car through another source and take the rebate on your vehicle from the dealer.

If you aren't careful, your rebate can have an effect on the purchase price of the vehicle. Negotiate your sale before you mention a rebate or trade-in. These GM rebates come from the manufacturer of the vehicle, not from the GM dealer. Your transaction is with the dealer, so the rebate should not be a factor in the price of your car.

Once you've settled on a purchase price and talked about the rebate, you'll have to decide how you want to use it. If you don't have a down payment for your new vehicle or you want to put more money down on your new car, you can use the rebate as a down payment. This will lower the monthly payment for your car and provide a little more flexibility in your household budget. It might also get you a better interest rate, since significant money down makes you a more attractive borrower.

Alternatively, you can take the money and run. The automaker will cut you a check, which you should receive within a few weeks of buying your new car. You can use the money for anything you want. Regardless of what you do with your rebate money, you should remember that you'll have to pay sales tax on the total purchase price of the vehicle, including the rebate.

Before you head to your local GM dealer to buy a new car or truck, it's a good idea to check out the current rebate offers. Being informed can save you hundreds or thousands of dollars.

• The first place to look is on GM's website. You can find current offers on the vehicle you plan to buy, and knowing about these incentives and rebates will save you money at the dealership.
• Another great source for GM rebates is Motor Trend. Their useful rebate list lets you compare models and rebates to get the best deal.

Regardless of whether you're buying a new commuter car or a powerful work truck, GM rebates can save you major money at the time of purchase. Do your homework to learn about these deals, and you'll be in a better position to negotiate during the purchase of your new vehicle.

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