Clark Howard is right, but misses point.

Clark Howard has an article on CNN stating, at least for the time being, buying a new car instead to a used one may be a good idea. That is like saying having a beer on Fourth of July is a good idea. He forgets to mention that there is a federal tax break for the sales tax paid on new cars. He also doesn’t mention anything about the unbelievable financing deals one can get from the car makers themselves. Luxury car makers like Mercedes, BMW, Lexus who normally wouldn’t touch a 1.9 or even 0.9% APR are offering their cars at these rates up to 66 months, even on 2010 models. Combine this with the fact that the new car dealers lots are full, one can easily negotiate a deal on most cars that would bring monthly cost of new car ownership to less than that of a used car.

If you have the money and can use a new ride, check out Edmunds.com for dealer specials or hit some of the sites Clark Howard mentions in the article.

http://www.cnn.com/2009/LIVING/personal/07/02/howard.auto.market/index.html

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