When buying a new car, think of factory rebates like supermarket coupons; the manufacturer is giving you a break because they want you to buy. The only catch is that rebates may not apply to all makes/models, so be sure to ask your dealer about terms.
Though it might be tempting to walk away with $1,000 in your pocket, it’s always better to put rebate money toward the price of your car. If you’re financing, the extra cash can lower your interest rate and save you money over the life of the loan.
If you’re short on money to begin with, look for cars with big rebates; it may be possible to purchase a vehicle with little or no cash at all! But if your budget relies on rebates, remember to factor in tax, tag, and title charges. Good luck!
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