'Tis the season to buy...vehicles

Local auto dealers offering breakthrough prices, financing

By Chad Ruiz
St. Tammany News
Published on Monday, November 17, 2008 9:19 AM CST



Thanks to plummeting gas prices, impressive manufacturer deals and the Northshore’s solid economy, conditions are more favorable now than they’ve ever been for purchasing a vehicle, Keith Williams with Robert Levis Chevrolet and Cadillac in Slidell said recently.

In case you haven’t noticed, gas has dropped like a rock thrown in the Pearl River. After peaking above $4 per gallon earlier this year, the average price of unleaded gas has fallen to $2.17 per gallon nationally and even cheaper locally, with some locations reporting $1.75 per gallon.

Car makers have taken notice of the fleeting fuel prices and are now taking desperate measures to rid dealers’ lots of last year’s models.

“That means big, big incentives on our ’08 vehicles,” Williams said. “With very, very generous cash incentives on top of that, now’s the time.”

It’s a resounding theme with dealers across the area — if there ever was a time to buy a vehicle, now is that time.

“The manufacturers have stepped it up. It’s phenomenal,” Jack Francioni with the Brian Harris Autoplex in Slidell said.

Dealers’ lips have been parted in awe the last few weeks as manufacturers continue shipping vehicles to dealerships at record low prices.

“It’s never been a better time to buy a vehicle,” Otis Favre, owner of Lakeshore Chrysler-Dodge-Jeep in Slidell, said, adding they currently have brand new 2008 trucks listed at only $10,999, an unprecedented price.

That’s the story at dealerships across the region. Super low prices for high quality vehicles, and that’s just the starting price without the cash-back incentives.

“They’re (the manufacturers are) using everything they have to make it easy to buy a new car or truck,” Williams said.

Car makers are recognizing the current volatility of the economy by dramatically reducing prices and offering zero percent interest to encourage more buying.

And if you’re worried about financing, don’t sweat it, Rusty Munster with Toyota of Slidell said.

“Banks have never been more willing to loan people money than right now,” Munster said.

Never mind the negative news sprouting up across the country concerning Washington’s bailout plan for financial institutions.

The Northshore’s financial market is doing fine.

Dealers across the area are using multiple lending agencies and banks to finance vehicles, which is making it easy for everyone to take advantage of the exceptional deals.

On top of the remarkable manufacturer prices and the readily available financing, each dealership is also offering its own special incentive packages, driving prices even lower for customers.

Most are in their end of the year sales event, a ploy to sell the older models to make way for the newer vehicles.

“Our red tag event is always a successful event we have every year, but this year it’s special, and people need to realize these are fantastic deals and not let it slip by,” Francioni said.

Not to mention, “because of the sales slump, we as dealers are trying to be more aggressive right now with prices,” Cade Pray with Bill Hood Imports Corner in Hammond said.

Even with gas as low as it is now, residents are still licking their wounds from the $4 per gallon gas prices.

That’s OK because manufacturers have jumped on the environmental bandwagon and are now producing more green machines than ever before.

“Just about all of our vehicles get over 30 miles per gallon,” Josh Julian with Honda of Slidell said. Even with their exceptional fuel economy, Julian said Honda has come out with several types of hybrids that produce even greater fuel savings.

And if the smaller vehicles are not for you when it comes to lugging large families around, but you’re concerned about the fuel economy of SUVs, fret no more.

Along with the smaller hybrids, dealers are now beginning to stock up on SUV hybrids.

Whether your visiting Daniel Regueira at the new, cutting edge Bill Hood Chevrolet in Covington, Jimmy Stockstill at Jimmy Stockstill Motors in Picayune, where gas is hovering around $1.60 per gallon, or Chuckie Donewar at Rainbow Northshore Pontiac-Buick-GMC in Covington, selection is crucial.

“We feel like we’re the Wal-Mart of car dealers,” Stockstill said.

From used to new cars, dealers have been flooded with inventory, which is also helping to curve prices.

Most importantly, dealers across the region agree, it’s imperative for residents to make their purchases from local dealerships.

“While the rest of the nation may be doom and gloom, for us here, with the availability of vehicles and lending, it’s all very encouraging,” Francioni said.


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