MIAMI (CBS4) –December is traditionally the time for car dealers to do whatever it takes to get the previous year’s inventory off their lots.

With dealers all “spruced up” in their holiday-best promote rock-bottom bargains, many South Floridians are taking advantage.

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Pierre Smith was looking  for the best deals possible on a new car.

“We’ve seen a number of deals since the end of thanksgiving,” said Smith.

While he has been finding lots of cheap financing and extra incentives to tempt him to ‘buy before the end of the year’, it still takes a little extra work to find a dealer with the best price, best financing and available vehicles ready to sell.

“We found a couple of places of places in Broward County and this place here in Dade County,” said Smith. “If you keep knocking on doors, you can definitely find the right guys and they’ll make it happen for you.”

For many dealers like long-time Miami car seller Mario Murgado, this December caps off an especially rough year for South Florida dealerships.

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“We’ve had a tough year with people experiencing challenges in the economy,” said Murgado. “So this is when we close out, we want to move out all the ‘11s and we want to move the ‘12s.

To Murgado this time is also a great opportunity for those who decide to finance.

“We’ve also had the opportunity now that the financing has come around so we have got great financing better than ever,” said Murgado.

According to Bankrate.com, lenders are now offering 5 year loans as low as 2.74 percent and that’s  more than 2 full points lower than the same loan 2 years ago meaning lower monthly payments. It’s also not very hard to find car makers offering limited, zero-percent deals on shorter term loans.

While there are many deals, credit experts still warn that the best rates are still aimed at consumers with the best credit reports.

“In order to get those great deals, you have to have an excellent credit score or else you’re usually going to pay a premium,” said Annie Wilkerson of Dade Federal Credit Union. “The dealers can charge somewhere between 15, 19, and 20 percent which is very high for a consumer today to qualify for a loan or a payment of that amount.”

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Interest rates are expected to remain low through at least the first half of next year.