NEW YORK (MarketWatch) -- As consumers get ready for the holiday season with a struggling U.S. economy hanging over their heads and memories of $4 gas still fresh, buying a car isn't necessarily going to be a priority. Consumers have mortgages and gifts to pay for right now. The SUV or Honda getting them from Point A to B is just fine.

In 2007, nearly 16 million new vehicles were sold but this year's projected sales stand at about 11.5 million, a "staggering drop," says Jack R. Nerad, executive market analyst at Kelley Blue Book.

Yet, exactly because those numbers look so bad, this could be the best time to purchase a car.

Philip Reed, Edmunds.com senior consumer advice editor, says, "If you're a bargain shopper, it's definitely a good time to buy a car. You can virtually name your price for a vehicle."

Here are six points Nerad and Reed recommend you follow in order to drive your best deal now:

1. Research, research, research. Reliable information is available for free on the Internet and can take very little time to get. Read customer reviews, search for the car's value (and resale value) and find the repair history of the vehicle you're interested in. Before you even walk into a dealership, be aware of any incentives available -- some dealers are offering between $5,000 and $7,000 back, 0% financing for up to five years and other perks. Both Kelley Blue Book, at www.kbb.com , and Edmunds, www.edmunds.com , provide such information.
2. Apply for preapproved financing. This can be done online and can take minutes. This can be a bargaining chip for you and puts you in a stronger position to take advantage of any deals. Try the Web sites eloan.com and up2drive.com.
3. Look to credit unions, local banks and online lenders as alternative sources for auto loans. That way you'll be in a position to know just how good the financing is that the dealer may be offering if you decide to explore that route as well.
4. Don't be afraid to walk away. If there are deals and conditions you don't quite understand, your feet are you best weapon, says Nerad. "You can find a better deal the next day or the next day."
5. Offer the highest down payment that your budget allows.
6. Consider less expensive used and certified pre-owned cars if finding new car financing proves difficult.