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Makers Putting Some Old Models Out to Pasture with Big Discounts

Edmunds suggests a list of new vehicles with great deals.

by on Aug.30, 2016

The Chrysler 200 will be dropped later this year, creating great deals for savvy buyers looking for a car on a big discount.

Auto sales are cruising along at near-record levels this year and automakers have become relatively good at monitoring production levels to ensure they don’t end up with a glut of some models they have to give away.

Pretty good isn’t perfect though and there are always a few vehicles that get away from them a bit and find their way into the “bargain bin” of new vehicle purchases. Most are perfectly lovely vehicles, but because they’re due for a redesign, get a bad rap or consumer tastes shift, these vehicles can be had for a fantastic price.

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“Even though these vehicles are being redesigned or going away altogether, they still have the same great technology and performance that you’d find in most new cars, but at a much better value,” says Edmunds.com Senior Consumer Advice Editor Ron Montoya.

Of course, Edmunds has a list of suggestions for new vehicle buyers looking for a deal on a new car. In fact, they offer up nine choices, led by several luxury brands as well as some good old stalwarts.

(New car sales expected to slide in August. For more, Click Here.)

Cadillac is replacing its SRX crossover with the all-new CT5 model and offering deals on the outgoing model.

The first is the 2016 Mercedes-Benz E-Class sedan, which is set to be redesigned for next year. Edmunds says that with some deals, buyers can knock off $7,000 – $10,000 the MSRP for the sedan. While E-Class sedan shoppers are more likely to lease than buy, a lower selling price usually translates to a better lease deal, the website notes.

If you want a midsize luxury sedan with many of the same features of the E-Class but with a lower price tag, the Genesis sedan is a great option. The price gap becomes even more pronounced with the savings on the 2016 Hyundai Genesis. Edmunds spotted offers of $3,000-$5,500 off MSRP.

The upside is that the 2016 version isn’t going to look much different the 2017. In fact, the biggest change will be the actual nameplate. It won’t say Hyundai Genesis, but Genesis G80 instead. The South Korean automaker is attempting to create an upscale brand using the Genesis name.

Two General Motors brand should also get some attention. The 2016 Buick LaCrosse is getting redesigned for 2017, netting savvy shoppers a savings of $6,200 off the sticker prices, Edmunds says. The 2016 Cadillac SRX is getting replaced entirely by the 2017 CT5.

(Click Here for details about rising gas prices.)

“There are still a fair number of SRX models left in the wild and there are a few Price Promise offers of $8,000 off MSRP, once the incentives are factored in. Some of its more notable features are a classy interior and a comfortable ride,” notes Edmunds editors.

The rest of the best bargains include: Subaru Impreza, Chrysler 200, Dodge Dart, Kia Cadenza and the Toyota Highlander. In the case of the 200 and the Dart, those vehicles are being eliminated entirely as Fiat Chrysler changes up its production strategy and may represent the best deals going forward.

Hyundai's move to create a separate Genesis brand has created a need to clear out the old Hyundai Genesis models: at a discount.

“Bargain hunters are strongly encouraged to consider these vehicles, and the sooner they start shopping, the better. Since we’re approaching end of the car-buying year, inventories of these cars will start to dwindle and colors and options may be limited.”

A few things you should keep in mind, the website cautions: When automakers redesign a car, the outgoing model depreciates more quickly, and it might be more difficult for you to resell it. Similarly, if the carmaker discontinues a model because of slow sales, it may affect how many people are interested in it as a used car.

However, if you’re going to keep the car for a long time, depreciation has little effect on you. Keep in mind that since you are shopping at the end of the car-buying year, inventories may be low and color and options choices will be limited. In other words, if you want a great deal you can’t be that picky, Edmunds’ editors remind.

(To see more about GM’s move to amp up sales of its midsize trucks, Click Here.)

Also keep in mind that offers, incentives and rebates are regional and have expiration dates. You will not only need to check to see what offers are available in your area, but also when they expire.

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