If you’re thinking about looking for a new car and want to take advantage of the best deals, you’re not alone.
“Spring is almost here — we’re officially into daylight saving time, and well on the way to warmer days ahead,” said Nick Woolard, director of OEM Analytics for TrueCar. “We’re also coming up on the end of the first quarter of the year — which is a great time to buy a new car. As always.”
In today’s car-buying marketplace, with fewer and more targeted incentives and discounts, consumers need to be really savvy and have the best, most accurate information to identify the best deals, said Woolard.
Sales environment in transition
“The year 2020 was a challenging one for the automotive industry and the economy at large, but the recovery came faster than most expected, providing strong momentum and pent-up demand going into 2021,” Woolard said. “Retail demand is healthy and will remain the driving force for total vehicle sales in 2021.”
Woolard noted great deals this month can be found on all vehicle types — sedans, trucks and SUVs. The vehicles with the best deals, range from the Jeep Gladiator to the Chevy Malibu to the Lexus NX300.
And there is good news for fans of EVs.
“If you’ve had your heart set on an electric vehicle, we’re seeing some of the biggest discounts in this segment this month including on the Chevrolet Bolt, Audi e-Tron and Nissan Leaf,” said Woolard.
Cash deals offer great opportunities
Woolard said that for the wishing to pay cash for a vehicle, or are providing their own financing, there are several good deals that should be attractive to potential buyers.
The best cash deals list includes:
- Toyota Venza: The average cash offer on this vehicle is $1,232, up 35% from last month and represents savings of 3% off MSRP.
- Hyundai Kona: The average cash offer on this vehicle is $3,346, up 21% from last month and represents savings of 12% off MSRP.
- Chevrolet Malibu: The average cash offer on this vehicle is $3,666, up 17% from last month and represents savings of 14% off MSRP.
- Hyundai Elantra: The average cash offer on this vehicle is $1,938, up 16% from last month and represents savings of 8% off MSRP.
- Toyota Corolla: The average cash offer on this vehicle is $1,693, up 14% from last month and represents savings of 7% off MSRP.
Strong finance deals for the month
Woolard said those looking to buy their first All-EV would do well to test-drive the Chevrolet Bolt EV and take advantage of the finance deals Chevy is offering on the vehicle this month.
- Chevrolet Bolt EV: The average finance offer on this vehicle is $16,406, up 33% from last month and represents savings of 40% off MSRP.
- Volkswagen Atlas: The average finance offer on this vehicle is $5,438, up 53% from last month and represents savings of 12% off MSRP.
- Honda Odyssey: The average finance offer on this vehicle is $3,076, up 48% from last month and represents savings of 8% off MSRP.
- Jeep Gladiator: The average finance offer on this vehicle is $4,235, up 19% from last month and represents savings of 8% off MSRP.
- GMC Sierra 2500HD: The average finance offer on this vehicle is $8,853, up 11% from last month and represents savings of 12% off MSRP.
Best lease deals
Those looking for a good lease deal should check out the Japanese automakers Lexus, Acura, Subaru and Toyota. The best lease offerings this month include:
- Lexus NX 300: The average lease offer on this vehicle is $6,254, up 13% from last month and represents savings of 14% off MSRP.
- Subaru Crosstrek: The average lease offer on this vehicle is $2,682, up 5% from last month and represents savings of 9% off MSRP.
- Lexus RX 350: The average lease offer on this vehicle is $6,727, up 4% from last month and represents savings of 12% off MSRP.
- Toyota Highlander hybrid: The average lease offer on this vehicle is $3,942, up 3% from last month and represents savings of 10% off MSRP.
- Acura TLX: The average lease offer on this vehicle is $9,962, up 3% from last month and represents savings of 23% off MSRP.
Pricing and savings information is based on transaction data available to TrueCar as of March 16. Average cash, lease and finance savings are subject to change and individual savings may vary by factors such as location, individual vehicle attributes, dealer and credit approval, credit score.