Clark Howard's Tips

June 25, 2008

The car market continues to take a beating, with the latest blow coming from a horrible sales month in June. Fitch Ratings, meanwhile, has downgraded Chrysler and GM -- citing weak sales and rising fuel costs, among other things.

Ford is also struggling with collapsed sales. The F1 Series is falling further down the list, and Ford is delaying a new remake because they can't sell the old ones. In short, any automaker that has had a heavy emphasis on unloved giant trucks and SUVs is hurting right now.

So what's a Big 3 automaker to do? Well, in the case of GM, they're offering sweeping rebates and great buying opportunities. Look for 0% interest on a 6-year loan and possible additional cash rebates.

Clark doesn't even like 5-year loansÉand here they're pushing 6-year ones! But here's the bottom line: If you are in the market for a new SUV or pickup truck, there's never been a better moment to buy one. You're also likely to steal great deals if you're looking at used vehicles.

One caveat: As Clark has mentioned before, you should try to get it in writing that your Chrysler warranty will be honored no matter what.

Consumer advice courtesy of