According to Jill Gonzalez of WalletHub, "The 2016 editions are going to be out mid-July, so [the dealerships] really want to move inventory. Also, interest rates are very low."
WalletHub crunched the number on financial offerings at over 150 lenders and found interest rates on new cars at their lowest level in three year. Don't expect that to last long, though.
"We know they're going to be hiking up sometime in the near future," Gonzalez said, "probably three to four months from now."
Of course, the cost of a car hinges on more than just interest rates. After all, you still must pay for insurance.
WalletHub looked int data from the nation's top five auto insurance carriers and found that premiums on cars in the same price range can differ by as much as 39 percent. A car's price tag doesn't predict how much you'll pay to insure it.
Take a 2015 Toyota Corolla L and a 2015 Honda Accord LX. The Corolla's sticker price is less than the Accord, but the Corolla will cost $232 more to insure it every year.
To read the rest of this article on KSL go here.
Interested in getting a new or used car at Ken Garff Honda of Orem? Go here to get an extra $100 off coupon that can be combined with any other discount or sale.
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