End of Year May be Best Time to Buy Car

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PANAMA CITY - If you're thinking of buying a new car, now might be the right time.

Dealerships are slashing their prices after a better than expected year of sales.

If the spirit of giving -- or of treating yourself -- has inspired you to buy a car this holiday season then you may be in luck.

Many auto dealerships are overflowing cars, trucks and SUV's and sales representatives are looking for the perfect buyer.

"This time of the year right at the very end after Christmas typically we do ramp up quite a bit and we do get very excited because we do have a lot of people coming in," said Erasmo Rebolledo, Panama City Nissan Manager.

U.S. sales are expected to reach 15.6 million this year, which is an increase of 8% over 2012.

"Here at Bill Byrd Kia we've seen an increase of at least 20 to 25% maybe more," said Shane Smith, Kia Sales Representative.

Forecasters say a little less than $1.5 million new cars will be sold in the U.S. this month alone, up 5% from last Christmas.

"We have a lot of incentives from the manufacture as well as regional incentives that bring in a lot of people after the holidays," said Rebolledo.

The December holiday season normally is a good time to buy as dealers clear out old models and sales people feel pressure to meet year end targets.

Rebolledo said, "We become very aggressive and we are trying to get rid of as many 2013's and trying to move into 2014."

This year has proven to be a strong year for the auto industry.

"I think the economy has taken a big turn as far as a lot of people have the money to buy cars," said Smith.

Experts say it's the last day of the year that you'll likely get the best deals on cars.