You should shift into high gear and race on down to the car lot if you are in need of some new wheels.

WSB Consumer expert Clark Howard says this Labor Day you will find deals on almost every make and model out there.

"For the last year I've been talking about all the deals being on passenger cars; the market shifted so sharply, so quickly that automakers were stuck having made too many passenger cars. Now, everything seems to be in over supply," says Howard.

A large number of cars are coming off leases and those cars and trucks are flooding the used car market.

It seems there has never been a better time recently to buy a new or used car.

He says if you are buying a pre-owned vehicle make sure you have it inspected by a certified diagnostic mechanic of your choosing as a condition of purchase.

Howard says it is a good idea to pre-arrange your auto loan financing.

He says get pre-qualified elsewhere (not at the car dealership). Credit unions offer interest rates on car loans that can be 1% to 3% lower than other lenders.

You may also want to check online lenders. Even your auto insurer may be able to give you a competitive interest rate.

If the financing department at the car dealership can beat the deal you have pre-arranged elsewhere, then you do finance there.