SANTA MONICA, California — Manufacturer spending on incentives for slow-selling premium sports cars hit a new record of $10,128 for every vehicle sold in September, Edmunds.com estimates.
September shattered the previous high of $7,347 per vehicle spent in April 2004, according to Edmunds.com's records.
One of the heftiest rebates in September was on the 2009 Cadillac XLR-V. GM offered up to $10,000 in rebates or 4.9 percent financing, a deal it has extended through November 2. The 2009 Cadillac STS-V was available during September with zero-interest financing. In October, the rate jumps to 5.9 percent, but cash rebates of up to $3,000 are extended. Both Cadillac models also make a $4,000 incentive available to lease customers.
Some of the incentives come in the form of special low-interest rates on car loans. In fact, the special interest rates being offered — instead of taking a loan at the going interest rate — can save a sports-car buyer $20,000-$30,000, Edmunds.com analysts calculate.
For example, BMW is offering a 0.9 percent rate on the 6 Series and the M6 through November 2. In addition, BMW is paying a $6,000 incentive to its dealers, some or all of which can be passed onto the customer. Or knowing the hefty rebate is going to dealers, consumers can drive a harder bargain.
Mercedes-Benz offered buyers 1.9 percent to 2.9 percent financing on the 2009 Mercedes-Benz CLS-Class in September, a deal that has expired with no word if it will be continued.
Across the board, the average automaker incentive was $2,557 per vehicle sold in September, up only a tad from August and down nearly 12 percent from September a year ago, Edmunds.com estimates. However, after five months of incentives declining, they are edging higher.
Inside Line says: If you've got bucks, now's the time to get a really good deal on a sports car. — Michelle Krebs, Senior Analyst and Editor, AutoObserver.com
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