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Most people assume that the only way to lower the price of a new car is through negotiations with a salesperson or dealership. However, if you already own a car, you may be eligible to a loyalty rebate on your next purchase.
Loyalty rebates are available for returning customers only and dealerships often require proof that you own the same make as the one you wish to purchase. For example, if you own an Audi, then you can potentially secure an additional cash, finance or lease incentive and/or a reduced interest rate for leasing or financing on a new Audi. These loyalty rebates are discounts offered by automakers to not only help steer consumers away from the competition, but also encourage and reward customers who continue to stay loyal to their brand.
Relying on loyalty rebates can help save you hundreds, possibly thousands, of dollars. These rebates typically take the form of stackable cash incentives and low-interest financing or leasing.
The best kind of loyalty rebate is arguably the stackable cash incentive because it can be combined with rebates already available to regular customers. For instance, if a regular cash purchaser is entitled to a $1,000 cash rebate, a $500 loyalty incentive would boost their total savings to $1,500. These incentives are usually available to cash, finance and lease customers.
Low-interest financing or leasing is an incentive offered by manufacturers to finance and lease customers, with interest rates that range from zero to five per cent. Not every returning customer is eligible for this kind of offer, however, since it requires good credit score. Additionally, in many cases, low-interest financing cannot be combined with other incentives.
Now that you have a better understanding of what loyalty rebates are and what types are available for consumers, here are the best loyalty rebates on new cars this December.
2016 BMW 3 Series
The 2016 BMW 3 Series is an exceptionally well-rounded compact luxury sport sedan with excellent handling and a great selection of powerful and fuel-efficient engines. This vehicle offers a comfortable, upscale interior with straightforward controls and spacious seating for passengers. For 2016, the 3 series received some mild exterior and interior enhancements, including a new engine, standard 16-speaker stereo, LED headlights, automatic remote updates for the navigation system and a new Track Handling package.
2016 BMW 340i Sedan
Loyalty rebate: $1,000 (for cash purchasers only)
Loyalty financing rate reduction: 0.75 per cent
Loyalty leasing rate reduction: 1 per cent
2016 Nissan Rogue
If you are looking for a small crossover SUV, it’s worth checking out the 2016 Nissan Rogue, which offers a smooth highway ride for all. With its upscale and roomy interior, this vehicle offers optional third-row seating with versatile interior storage for a comfortable and spacious ride. For 2016, the Nissan Rogue offers numerous user-friendly tech options, including the addition of an emergency telematics system called NissanConnect Services, Siri Eyes Free and an enhanced collision mitigation system with automatic braking.
2016 Nissan Rogue SL AWD
Loyalty rebate: $600 (after tax; for lease and finance customers only)
Loyalty rate reduction: 0.25 per cent
2016 Audi A3
The 2016 Audi A3 sets the standard for smaller entry-level luxury cars with its attractive and upscale exterior and top crash test scores. This vehicle offers powerful and fuel-efficient engines, making for a comfortable and fun ride with excellent handling. For 2016, the Audi A3 offers standard features like a rearview camera, parking sensors, heated mirrors and washer nozzles.
2016 Audi A3 1.8 TFSI Komfort S tronic
Loyalty rebate: $1,250 (for cash purchasers only)
Loyalty rate reduction: 1.5 per cent
Rated one of the best all-around compact cars, the 2016 Mazda3 offers a sporty and fun driving experience, while excelling in top crash test scores. This vehicle offers a selection of powerful and fuel-efficient engines for quick acceleration and a comfortable ride overall. For 2016, the Mazda3 showcases a refined interior with intuitive controls and more standard features, including a rearview camera (standard across all trim levels), automatic headlights, automatic wipers and a sunroof on trim levels above Sport.
2016 Mazda3 GX 6AT
Loyalty rebate: $500 (for cash purchasers only)
Loyalty rate reduction: 1 per cent
NOTE: Manufacturer incentive displayed is applicable to Ontario customers only. While data is accurate at time of publication, pricing and incentives may be updated or discontinued by individual dealers or manufacturers at any time. Typically, manufacturer incentives expire at the end of every month. Vehicle availability is also subject to change based on market conditions.