Remember this Will Smith classic?
…Adjust the base and let the alpine blast
Pop in my cd and let me run a rhyme
And put your car on cruise and lay back cause this is summertimeSummer, summer, summertime
Time to sit back and unwind [more lyrics]
Ignore the hub-bub about gasoline prices. Summer remains the prime car-buying season. Are you in the market for a new set of wheels? Peter McDougall of MainStreet.com explains when it’s better to get cash back over a lower rate.
Ditching the wheels? Check out Geezeo’s group, Carless Crusaders.
—
Car Loan Guide: When To Take Cash Back Over A Lower Rate
By Peter McDougall
Summer is here, and so are the ads for new cars and trucks — which means your dilemma is going to be whether you can afford one, and if so, what’s the best method of payment.
The summer months represent peak sales season for cars and trucks, according to the National Automobile Dealers Association.
Despite high fuel costs, Americans are still buying: The industry experienced only a 2.5% drop in total sales between 2006 and 2007, and NADA analysts expect a similarly small decline through 2008.
Many dealers still offer the tried-and-true package of cash back or low-interest financing. You rarely get to have both, so choosing the one that makes the most financial sense for you is important. Use the Rebate vs. Financing calculator from BankingMyWay.com to help figure out which option provides the best savings in the long run.
Rev the engines for more, here.
