Savings of up to 17% off MSRP on large pickup trucks this month
Consumers in the market for a full-size pickup truck or small car may want to consider buying this month as October yields the largest percentage discounts off MSRP in both segments, according to TrueCar, Inc. (NASDAQ: TRUE), the modern car-buying service.
A review of 2014 new vehicle transactional data by TrueCar indicates October showed average savings of 11.7 percent off MSRP for large pickups, or $5,562. Small cars averaged savings of 7.6 percent off MSRP during the month, or $1,721.
“The compact segment may no longer be as popular with today’s consumers, but small cars remain a very practical choice for economically savvy consumers,” said Eric Lyman, TrueCar’s vice president of industry insights. “With affordable starting price points, outstanding fuel economy and more interior content than predecessors the segment should not be overlooked.”
Chevrolet’s Cruze makes TrueCar’s list of best savings on new vehicles, with discounts of as much as 12 percent for 2015 LS models. Hyundai’s Elantra also makes the list with a notable 12 percent off MSRP for the new 2016 model. Additionally, Volkswagen is offering a special Jetta lease offer of $139 a month.
“Volkswagen is aggressive about stopping brand defectors following its diesel emissions scandal by offering current customers special cash offers,” said Lyman. “Strategically, this is a smart move as Volkswagen owners historically are very enthusiastic about the brand. Loyalty offers may minimize overall brand leakage. Search activity for the Volkswagen brand on the TrueCar platform was down 9 percent last week compared with the level prior to the diesel scandal.”
Ford’s F-Series remains the best-selling pickup in 2015, with about 124,000 more units sold compared to GM’s Chevy Silverado, the segment’s second best seller. FCA’s Ram 1500 is selling for as much as 17 percent off MSRP in October. F-Series also has savings up to 17 percent off MSRP this month.
“Competition among full-size pickup trucks remains fierce,” said Stacey Doyle, TrueCar’s senior industry analyst. “As automakers fight for market share, savings abound across the segment. October is the best month to buy in this high-demand segment, and consumers can get more than $5,500 off a new truck.”
Published monthly, the “TrueSavings” report analyzes recent transaction prices and identifies opportunities for consumer savings.
A snapshot of some of the best savings (compared to MSRP) on new vehicles in October 2015 includes:
|Segment||MSRP||Market Average||$ Savings /|
|Est. Monthly Payment*||City / Hwy / Comb MPG|
|2015 Ram 1500, SLT Reg. Cab, 4×2, Std. Bed||Large Truck||$31,480||$26,002||$5,478/ 17.4%||$311||17/25/20.6|
|2015 Ford F-150, 2WD SuperCab 8 Ft Box XLT||Large Truck||$36,505||$30,178||$6,327/ 17.3%||$361||19/26/22.3|
|2015 BMW 3 Series, 328d Sedan||Luxury Car||$39,995||$35,170||$4,825/ 12.1%||$421||32/45/38.0|
|2015 Chevrolet Cruze, LS Automatic||Small Car||$19,695||$17,352||$2,343/ 11.9%||$208||22/35/27.6|
|2016 Hyundai Elantra GT, Automatic||Small Car||$20,625||$18,179||$2,446/ 11.9%||$218||24/33/28.2|
*Estimated monthly payments are based on a 2.5% APR for 72 months with 20% down on the current market average price, and excludes sales tax and other fees and charges that may vary by region or state. These examples are for informational purposes only, and are not offers to lend. See dealer/lender for details, including actual available offers.
“Market Average” is based on the national average of recent vehicle transactions, including destination and delivery charges after incentives that are subject to change. This does not include tax, title, licensing, documentation or processing fees, other state and governmental charges and/or fees or any other charges or fees allowed by law.
Average Customer Cash for TrueCar users*:
2015 Ford F-150, 4WD SuperCrew 6-1/2 Ft Box XLT: on average $3,995 in customer cash
2015 GMC Sierra 1500, Crew Cab, Short Box 4WD Denali: on average $3,456 in customer cash
2015 Jeep Patriot, Sport 4×2: on average $2,373 in customer cash
2015 Nissan Altima, 3.5SL: on average $2,317 in customer cash
2015 Toyota Prius, Four: on average $2,525 in customer cash
*Based on average manufacturer-to-customer incentive offers reflected on TrueCar Certificates between 10/6/2015-10/11/2015 for the specified trim.
Below is a snapshot of some of the best manufacturer lease and finance deals currently available in certain regions:
2015 Buick Encore: 0.0% financing for 60 months, Exp: 11/2/15
2015 Chevrolet Silverado 1500: 0.0% financing for 60 months, Exp: 11/2/15
2015 Kia Sorento: 0.0% financing for 60 months, Exp: 11/2/15
2015 Nissan Rouge: 0.0% financing for 60 months, Exp: 11/2/15
2015 Toyota Venza: 0.0% financing for 60 months, Exp: 11/2/15
2016 Chrysler Town & Country: $319/month for 39 months, $2,999 down, 12,000 miles/year, no security deposit is required, Exp:11/30/15
2015 Honda Civic sedan: $149/month for 36 months, $1,999 down, 12,000 miles/year, no security deposit required, Exp: 11/2/15
2015 Jeep Renegade Sport FWD: $199/month for 42 months, $3,299 down, 12,000 miles/year, no security deposit is required, Exp: 11/2/15
2016 Toyota Camry SE: $199/month for 36 months, $1,999 down, 12,000 miles/year, no security deposit is required, Exp: 11/2/15
2015 Volkswagen Jetta S: $139/month for 36 months with $2,199 down, 36,000 miles, no security deposit is required, Exp: 11/2/15
The deal information summarized above is provided for illustrative purposes only, and is not an offer to lend. Results may vary depending on your individual circumstances, including credit approval by dealer/manufacturer. Deals are subject to change and are limited to inventory on hand. See your dealer/manufacturer for details, including actual offers available in your region.