When it comes to buying a car these days, it's hard to deny that it's a buyer's market. Automakers are offering record cash incentives and attractive financing deals of as low as 0%. However, as good as the deals on those '09 models may seem now, it may pay to wait for the automakers 2010 lineup to hit the lots.
SmartMoney.com visited the New York International Auto Show — which opens to the public Friday — to see the automakers' latest lineup of low-priced, fuel-efficient vehicles, some of which carry price tags of below $14,000. But the low retail prices on these cars are just the beginning.
Thanks to the stimulus plan, car buyers can deduct state and local sales tax on vehicles worth up to $49,500, netting some consumers who buy a bargain ride as much as $600 in savings.
Then there are the individual savings. Ford's Fusion, for example, still qualifies for a hybrid tax credit of $1,700. And Kia is already offering 0% financing for up to 36 months on its 2010 Soul; while Nissan is offering recent graduates a $500 discount on its boxy-shaped Cube.
Here are some of the least expensive cars of the 2010 lineup and breakdown of the savings you could reap: