Automakers are inventing new incentives that buyers have never seen before. With sales tanking and some domestic automakers teetering on the edge of bankruptcy, new incentives are necessary to get consumers through the door and buying cars again.
Some of these new car buying incentives are government-backed. When GM and Chrysler took federal loans from the U.S. taxpayers, our government essentially took over command at both companies.
CNN Money has reviewed each incentive and gives consumers the pros and cons of each program.
Cash for Clunkers, federal warranty guarantees, increased credit flow for consumer car loans, job loss insurance/auto loan payment protection and cash-back incentives are the five car-buying incentives the industry hopes will get people buying cars and taking out auto loans again.
Confused about the new range of incentives automakers and the government are offering? Click the link above to find out all about the programs designed to get you to buy a car.