With new vehicle sales appearing to be back on track after February’s numbers were revealed, it may be more difficult to find a deal on a new car, truck or SUV.
However, looking back as you move forward is one key to getting the lowest price possible, according to Kelley Blue Book, which put out its list of best new car deals for March. Many of those deals involve last year’s models that are languishing at dealerships across the country.
“We’re three months into 2017, and yet many dealers still have brand-new 2016 model-year vehicles sitting on their lots they can’t wait to sell, and that presents a great opportunity for shoppers to get a good deal,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book’s KBB.com.
“If you’re going to keep the car for the long haul the fact that it is a 2016 doesn’t make much difference, but factor the model year in if you plan to flip the car in two or three years. It will be worth less than a comparable 2017. The good news is this month’s list of the best deals truly offers something for everyone.”
(Record sales year ahead for makers, analysts predict. Click Here for the story.)
Half of the deals this month for purchasing a vehicle involve 2016 models. The new list also follows a trend: Leasing is on the rise and of the top 10 deals, six are leases.
Last year’s new sale record was reached, in some measure because automotive lease volumes also hit a new benchmark of 4.3 million vehicles, according to Edmunds.
Edmunds latest Lease Market Report noted that leasing accounted for 31% of all new vehicle sales in 2016, which is up from 29% in 2015 — the previous high. Overall, leasing has been on the rise for some time now – growing 91% in the last five years – as buyers look to get more bang for their buck.
(Click Here for details about the trend of longer term auto loans.)
It follows that the top deal for March, according to KBB.com, is the 2017 Infiniti QX30, which can be leased for $259 a month for 39 months with $1,999 down. Here are the other offers:
- 2016 Hyundai Veloster — $4,000 cash back
- 2017 Toyota Sienna — $289 a month/36 months/$1,999 down
- 2017 Jeep Cherokee — $4,500 cash back
- 2017 Lexus CT 200h — $249 a month/36 months/$1,499 down
- 2016 Ford Focus — $3,000 cash back
- 2016 Kia Optima — $159 a month/36 months/$1,999 down
- 2017 Volkswagen Passat — 0% finanicing/$1,000 cash back
- 2017 Buick Envision — $299 a month/36 months/$3,699 down
- 2017 Nissan Sentra — $149 a month/36 months/$1,999 down
Of course, getting any of these deals requires the buyer or lessee to have excellent credit. Some of the vehicles on the list may be a bit of a surprise; however, the biggest may be the Jeep Cherokee, as Jeep sales have often been the only positive on FCA’s monthly sales sheets.
(Leasing levels surge, raise concern. Click Here to see why.)
However, the less-pricey sibling of the Grand Cherokee, is usually the laggard in those reports. The new year hasn’t been any kinder to the Cherokee. Sales in February were down 11%, which was a significant improvement from January which saw sales fall 25%. Overall, the SUV is down 19% in 2017, after a 10% slide for all of 2016.