While luxury car and sports car sales are down, sales of luxury sports cars are up almost 23 percent from last year. Exotic cars are also up almost 23 percent.
"In general, most luxury brands are not as impacted by the decline in demand as most mass-market vehicles," says Toprak.
“It may be easier to get financing from the dealers. They can justify the risk.”
Compact car sales are up almost 9 percent. But buyers are still seeing cash, rebates and financing deals worth up to $1,579, according to figures from Edmunds.com. Consumers are looking for good gas mileage at a good price for a vehicle that will hold its resale value.
"I would be hard-pressed to say that a buyer couldn't find an acceptable smaller car at a good price," says Nerad.
Likewise, compact SUV sales are up almost 3 percent from last year, but makers are sweetening the deals an average of $2,632, according to Edmunds. "A lot of consumers used to have SUVs," says Toprak. "When they trade down, they don't necessarily want to get into a car."
A model's popularity will affect the deals and incentives. "Incentives are largely on models that aren't selling," says Taylor.
From past experience, "Automakers have learned how to get the most out of their incentives," says Toprak. They tend to be greatest where demand is lowest.
At the same time, he says, "Most vehicles have some sort of incentive, unless there's high demand."
Regional variations
Deals also vary by region and metro area, as well as by manufacturer. Domestic automakers have been much more free about offering cash back incentives, rebates and financing deals than foreign auto manufacturers.
Of the six major automakers behind the 20 most popular cars, General Motors offers buyers the biggest incentives, with an average of $3,662 each, according to Edmunds.com. Toyota offers the least, with an average of $1,213. The industry average is about $2,445.
The best way to squeeze the most value from a deal is to go into the dealership pre-approved for a loan, but get a quote on dealer financing, too.
“Most vehicles have some sort of incentive, unless there's a high demand.”
With the current credit crunch, "It may be easier to get financing from the dealers," says Toprak. "They can justify the risk." And domestic dealers and manufacturers tend to be a little more lenient, he says.
The best times to shop for a new car are at the end of the month, the end of the model year and at the end of the calendar year. These are the times when dealers often have a greater sense of urgency to move vehicles. But that tactic is now public knowledge. So if you want more time and attention to wheel and deal (and fewer customers competing), hit the lot early in the month, says Toprak.
To get the best price, "what we recommend is shop around," says Nerad. Let the dealers know that, he says, "and you will get a pretty good sense of what's out there."
Dana Dratch is an Atlanta-based writer who covers personal finance and lifestyle issues for national publications.