Rebate wars: Where the deals really are

What the big three are doing with rebates - includes a "gallery of deals."Rebate wars: Where the deals really are - Nov. 22, 2005

NEW YORK (CNNMoney.com) - They said they'd back off, but the big automakers just can't help themselves.

The incentives war heated up in earlier this month when General Motors lauched the "Red Tag Sale." Ford followed with "Keep it Simple." Chrysler now has "Miles of Freedom."

Are the deals really all that great?

When evaluating such deals, there is one thing you have to keep in mind. You're buying a car, not a sales gimmick. It the car's not good or if it just isn't right for you, it doesn't matter how good the incentive is.

Some car companies almost never put big incentives on their vehicles, and even these "Big 3" programs come multiple exceptions. In addition, know that car companies generally put rebates and "free gas" deals on cars because they aren't selling well.

Finally, always remember that what incentives give they also take away. When the time comes to sell or trade in your car, it will be worth less than it would have been had there been no incentive.