Personal Finance Questions and Answers for Young Professionals

All of us have been at the pump lately and we all know that gas prices are through the roof. But it’s not necessarily all bad if you are in the market for a new SUV or a TRUCK. Manufactures are offering substantial discounts on trucks and SUVS. Here is a table from WSJ article:
http://online.wsj.com/article/SB121261241468746255.html?mod=pj_main_hs_coll

Vehicle : Discount :Annual Percentage Rate on Loan
Ford Expedition :$2500-$5000 :0.0-3.9
Ford Explorer :$2500-$4000 :0.0-4.9
Lincoln MKX :$1000-$2000 :0.0-4.9
Lincoln Navigator :$4000-$6000 :0.0-1.9
Chevy Tahoe :$2,000 :2.9-6.9
Chevy Trailblazer :$2,000 :2.9-6.9
Chevy Suburban :$2,000 :2.9-6.9
GMC Yukon :$2,000 :2.9-6.9
Hummer H2 :$4,000 :5.9-6.9
Cadillac Escalade :$2,000 :5.9-7.9
Dodge Durango :$3,750-$4,500 :0.0-5.9
Jeep Grand Chero :$2,500-$5,500 :0.0-5.9
Toyota Sequoia : $0-$2000 :0.00
Honda Pilot :none :0.9-2.9
Acura MDX :none :0.9-2.9
Acura RDX :none :0.9-2.9
Nissan Pathfinder :$2,250-$3,250 :1.9-4.9
BMW X5 :none :2.9

Obviously the luxury manufacturers do not offer a good discount but if you like an average SUV then there are some deals out there. There are also unconventional deals in the market place as well as your standard discounts. Here is a good quote from the article:

“Some manufacturers are dangling more-unconventional offers. Chrysler is offering customers a promotion that locks in gas prices at $2.99 a gallon for three years, usually instead of its financing and cash-back offers. (Some vehicles offer the gas program and $3,000 in cash rebates.) Consumers use a special card linked to their credit card to take advantage, for up to 12,000 miles a year. In general, this deal makes sense only if gas prices stay high for several years. Still, people who crave an SUV but worry gas prices could shoot above $5 could take this promotion to sleep better at night.”

So if you are looking for an SUV, now is the time to shop around.