With the way the American economy seems to be heading on a path to near disaster, the consumer is wise to become financially literate so they can protect their own assets and holdings. Although, I would warn against anyone making a big ticket purchase in the near future, should you find you need to replace your automobile, here are some tips that will make it more fiscally palatable.

First, shop the showrooms from one end of the county to the other. Auto dealerships are in the vulnerable position of having to practically give away the store in order to sell a car right now. As the model year comes to a close, sales people are throwing in large rebates and cash back discounts anywhere from three to seven thousand dollars. That’s a lot of cash to be tossing around. Too, they are offering other incentives including airline tickets, three day vacations in the Bahamas, theater tickets, free gas for a year and more. The savvy shopper educates herself or himself before leaving the house and asks their salesmen what incentives and freebies come with their purchase?

Beyond these extra goodies, many auto dealerships are being forced to provide low interest to no interest financing on the purchase of a new or used car. This is most advantageous to the consumer. Imagine buying a $22,000 car with a no finance option over 4 years. The savings would be up to four thousand dollars over the life of the loan. That’s an amazing amount of savings to you.

The consumer should always check their credit and credit scores before heading out to the showrooms. Good credit, which can be obtained and maintained through such strategies as holding two or three credit cards and paying them off each month, will increase your chance at receiving the wealth of rebates, perks, extras, free samples and great pricing being offered out there.

For those of you who can put off their purchase for even a couple months, bolstering your credit, will impact your buying power at any time. So Visa, Mastercard, Discover and other holders of plastic out there, review your credit, research the current market offerings and develop an educated plan that will ensure you get the best car for the best price in these challenging economic times. And don’t forget to ask for the ‘goodies’. They’re your reward for all your hard work.