As most major automakers struggled with sales in August, even their luxury divisions didn’t fare too well either. Several luxury brands, including BMW, Land Rover, Mercedes-Benz, Lexus and Infiniti are promoting discounted leases or other major deals to increase sales, reports the Wall Street Journal.
The deals for luxury vehicles are there waiting for shoppers. You just have to put on your negotiating face and go for it. The average cash rebate offered by luxury brands in August was $3,240, up from $2,624 a year ago.
In August, Land Rovers were selling with an average $7,016 cash rebate. Cadillac gave cash rebates totaling $4,105, up from $2,758 a vehicle the year before.
Land Rover offered big cash rebates for its vehicles in August.
It seems the car buyers who can afford luxury vehicles are starting to feel the effects of a bad economy and the turmoil in the real estate market. Now they are rethinking whether or not they really need a new car.
Sales for luxury vehicles are down, so now is the time to buy if you’ve been shopping for a luxury vehicle. The deals will be gone once the new models are here this fall. Buyers will find that the deals are better if they buy rather than lease, as the leasing industry has taken such a hit in losses that they are nervous to go down that path again.