If your New Year’s resolution includes finding a good deal on a new vehicle, well, you might be able to check that box right away.
Automakers are offering some good deals on selected cars, trucks and utility vehicles both for lower-priced leases as well as financing with their captive finance arms, according to TrueCar Inc. Overall, TrueCar noted that new vehicle prices were 7.2% less than the stick price across the board.
“New vehicle incentives tend to soften a bit going into a new year, which means it’s even more important for car buyers to understand where the deals are,” said Nick Woolard, lead analyst for TrueCar.
(Despite production cuts due to chip shortages vehicle inventory remains stable.)
“It’s often hard to understand whether an advertised offer is a good one, and that’s where TrueCar can really help cut through the noise and help consumers compare real price offers with the same money down and terms.”
According to the website, General Motors and Nissan were offering the best deals when it came to buying new vehicles. The top five buys are:
- Chevrolet Silverado 2500: The average cash offer is $2,256, up 66% from December. The average incentive across cash, lease and finance represents an average savings of 4% off MSRP.
- Chevrolet Trailblazer: The average cash offer is $1,806, up 48% from last month. The average incentive across cash, lease and finance represents an average savings of 7% off MSRP.
- GMC Terrain: The average cash offer is $4,650, up 20% from last month. The average incentive across cash, lease and finance represents an average savings of 16% off MSRP.
- Nissan Kicks: The average cash offer is $2,508, up 7% from December. The average incentive across cash, lease and finance represents an average savings of 12% off MSRP.
- Nissan Rogue Sport: The average cash offer is $3,641, up 4% from last month. The average incentive across cash, lease and finance represents an average savings of 14% off MSRP.
The best deals on new car leases include:
- Honda Accord: The average lease offer is $3,493, up 30% from last month. The average incentive across cash, lease and finance represents an average savings of 9% off MSRP.
- Jeep Gladiator: The average lease offer is $6,499, up 26% from December. The average incentive across cash, lease and finance represents an average savings of 4% off MSRP.
The Jeep Gladiator can be had for a great lease price. - Hyundai Venue: The average lease offer is $3,833, up 14% from last month. The average incentive across cash, lease and finance represents an average savings of 10% off MSRP.
- Toyota RAV4: The average lease offer is $4,215, up 7% from last month. The average incentive across cash, lease and finance represents an average savings of 6% off MSRP.
- Honda HR-V: The average lease offer is $3,001, up 4% from last month. The average incentive across cash, lease and finance represents an average savings of 11% off MSRP.
(Pandemic acts as catalyst for additional change in auto industry, analysts suggest.)
The good news on the cheaper vehicle front isn’t just limited to new vehicle either. Overall, used car prices are also on the decline. The average month-over-month used vehicle listing price change is down 3.1%, and if you can find vehicle with a larger drop in listing price TrueCar says it’s a good deal.
TrueCar’s top 10 list – with how much the vehicle’s price has dropped from last month – includes: Volkswagen CC (5.6%), Mitsubishi Eclipse Cross (5%), Chevrolet Malibu (4.7%), Chevrolet Spark (4.6%), Acura TSX (4.6), Ford C-Max (4.5%), Ford Fiesta (4.4%), Nissan Leaf (4.4%), Mitsubishi Mirage (4.3%) and BMW i3 (4.3%).
The Honda Clarity and Insight as well as the Hyundai Ioniq, Fiat 500X and Buick Verano were the next group of five good deals fitting the TrueCar’s guideline.
(Auto sales gain traction as Americans avoid mass transit.)
“On the used car front, this is the time of year when we see a lot of used cars being purchased, we’re finally seeing used vehicle listing prices go down which is a good sign for consumers looking to buy used and CPO vehicles,” Woolard said.
