It’s Not Too Late to Buy Someone a Car for Christmas

By Douglas A. McIntyre Updated Jan 12, 5:09AM EST · Published Dec 24, 8:21AM EST

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It’s Not Too Late to Buy Someone a Car for Christmas — © courtesy of General Motors Co.

For late shoppers who want to spend $12,000 to $250,000 on a Christmas present, it is not too late to buy someone a car. Many dealers are open today. Recipients may not be able to drive the vehicle home, but they can certainly sit in the one just bought for them.

Buying a car the day before Christmas has at least two benefits, one of which is for the buyer and the other for the person getting the gift.

It may be the most expensive present the recipient ever gets.

And, many cars are discounted as dealers try to clear lots as the end of the year approaches.

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Several examples:

General Motors Co.’s (NYSE: GM) Chevy Silverado pick-up carries a discount so steep that it is hard to believe the company makes money. With certain restrictions, one model of the truck carries incentives which total $11,005. However, the model is a 2017, which in essence makes it a year old.

Some versions of the 2017 Fiat are available with 0% APR for 72 months. Chrysler Fiat Automobiles N.V. (NYSE: FCAU) is having trouble selling Fiat models in the United States. The cars also tend to get poor reliability reviews. And, the model available is a 2017 version.

Kia is also having a rough sales year. Gift givers can get a 2017 Optima for 0% APR for 66 months.

Hyundai is also having a difficult year in terms of sales. It is offering its 2017 Elantra with a finance package of 0% for 72 months, with certain modest restrictions.

And, finally, for people willing to spend a large sum for a car, troubled Cadillac is offering its CTS-V super car with a financial package of 0% APR for 72 months.

People can still buy a car as a Christmas present, and get a discount if it is a model most people don’t want.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.