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Is now the prime time to buy a car?

November 20, 2008 12:00:00 AM PST
While auto manufacturers and car dealers are being driven into the ground by the economy, now might be the best time to make a deal on a new car. There are plenty of incentives and auto loans are not impossible to get.While the Los Angeles Auto Show is in full swing at the Convention Center, the Port of Long Beach is seen as one giant parking lot full of new automobiles while dealers figure out how to sell them.

That's reason number one: Dealers are dealing. Reason number two is incentives.

Mark Fields, executive vice president of Ford Motor Company, announced employee pricing is now available to consumers at their dealer showrooms.

And it's not just Ford. Most manufacturers are offering some sort of incentive, such as rebates or lower financing. Yes, you can get a car loan despite what you heard, and that's reason number three.

But all of these reasons should not be your only motivation. Don't buy unless you really need a car. And if you do, remember: You still need to do your homework before you buy.

The only other thing to keep in mind is your trade-in.

But that could change if you're willing to wait.

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