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New car buying advice for January

(FILES)Cars manufactured by General Motors, which include Cadillacs, Pontiacs, GMC and Saab's, wait for buyers at a dealership in Los Angeles in this March 10, 2009 file photo. General Motors said January 8, 2010 it had begun "an orderly wind-down" of its Swedish unit Saab, but would consider any late proposals for the brand, in a move drawing protests from Sweden. GM said it hired the consulting firm AlixPartners "to supervise the orderly wind-down of Saab, and has requested approval of the selection by the appropriate authority in Sweden." AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images) (Credit: Getty/MARK RALSTON)

TrueCar,  an independent pricing guide site, released its monthly TrueTrends Report, which identifies the best deals to be had when negotiating the price of a new car.

The January TrueTrends Report includes the following highlights:

— The best day of the month to buy a car — when discounts are projected at 6.62% — will fall on February 1, 2010. However, there will be two other days in that period (January 25 and February 8) that will also be above 6.5% and are also great days to buy a car.

— If you are in the market for a Chevrolet and can find a 2009, now is the time. Five of the manufacturer’s models are in TrueCar.com’s list of Longest Days in Inventory, including the Corvette, Impala, Aveo 5, Cobalt and HHR.

— For 2010 models, Ford and Volvo each have two with the greatest discounts in their respective categories for the month: the Ford Ranger leads all pickups at 17% and Ford Edge bests all sedans at 13%; the Volvo C70 tops all convertibles at 12% while the XC70 is highest among wagons, also at 12%.

— Apparently fears of becoming an orphan owner (owner of a defunct brand) have kept consumers away from Saab, with the 2009 9-3 averaging nearly a year (358 days) in inventory.

“January is historically a very slow month for dealerships in terms of sales,” said Jesse Toprak, VP of Industry, Trends and Insights for TrueCar.com. “The manufacturers typically offer fewer incentives to consumers so the dealers are much more willing to offer discounts off of MSRP to help make more deals.

”So January could actually turn out to be a really great month for consumers who do their homework before they buy, as dealers are more motivated to make something from nothing,“ added Toprak.

Top 2009 Greatest Discounted Models

1.  Dodge Ram 1500 — 27%
2.  Kia Sorrento — 23%
3.  Chevrolet Cobalt — 20%
4.  Chev. Silverado 1500 — 17%
5.  Chevrolet Corvette — 17%

Top 2010 Greatest Discounted Models

 1. Ford Ranger — 17%
 2. Jeep Grand Cherokee — 16%
 3. Toyota Tundra 2WD —13%
 4. Ford Edge — 13%
 5. Ford Focus — 12%

Tags: Car buying , Chevy , Saab , Volvo , report , truecar.com , Chevrolet , Ford

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