Car Buying Incentives Still Out There

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Nashville, Tenn. - The days of zero percent financing may be gone for now. But consumers who need to buy a car in a tough economy can still find price incentives and financing deals.

"I have a car that's $29,000. Right now I will discount it $13,000. Six months ago I would discount it only $3,000," said Chris Bostick, owner of Carnival Kia.

Bostick added that manufacturers are also offering discounts to support dealers and help move inventory.

At Franklin, Tenn. based Franklin Synergy Bank, consumers can get a 6.5 percent interest rate for 48 months on a new car loan. Bank account holders can get a better deal.

"We will give customers a discount if they set up automatic payments from a checking account. That brings the rate from 6.5 percent to 6.25 percent," said Ashley Hill, vice president of Franklin Synergy Bank.

Bankers also said there are ways to avoid loan fees and save up to $250 if you negotiate.

Experts said if you have to buy a car in this tough economy, make sure you buy only what you can afford and shop around. Dealers remind consumers it is a buyer's market.

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