If you're looking to purchase a new car, now is a good time to save.
Arrow Ford dealership in Abilene said there are several reasons why consumers should sign on the dotted line.
"The consumer is already in a buying mode at the end if the year," said Arrow Ford General Manager Shanna Kevil. "They come in looking for a good deal on a vehicle and I think most of the dealers in town or in the area are looking to get rid of some inventory and so it works out both for the dealer and consumer."
Buying this year's model can save money in the long run.
"People can take advantage of tax breaks," said Kevil. "They want to buy before the end of the year so they can claim it in their 2012 taxes."
The benefits aren't just for new car buyers. Used car owners can cash in as well.
"Trade in values are a lot higher than normal because the used car market is high after the beginning of the year," Kevil said. "The used car lots are trying to stock up on their inventory, so they pay a little bit more for trade ins."
Scott Riley took advantage of the year end benefits.
"I found one and it was at a good price," said Riley. "I'm real pleased by the fact that it happened before the end if the year for the tax break."
Kevil suggests, you might even get money back.
"The manufacturers do have rebates typically at the end of the year," said Kevil. "They're trying to push out the old inventory to make room for the new inventory."
Kevil also said that interest rates have remained low for awhile which is another bonus to buying now.