TrueCar Inc., the most efficient and transparent online destination to find a car, today announced its list of the best end-of-month deals on new and used vehicle purchases and trade-in values for October 2020.
“There are finally some positive signs on the inventory front,” said Nick Woolard, Director of OEM Analytics. “October is the first month since May that we’re starting to see inventory rebound on the new car side.”
“While inventory is still a bit tighter than normal, more inventory means consumers will have an easier time finding popular vehicles on their local dealers’ lots,” continued Woolard. “It may present pricing advantages as well, as low supply, high demand vehicles are not typically discounted and can often go for over MSRP. This is a good trend for car buyers going into the busy Black Friday and end-of-year car buying season.”
Best Cash, Lease and Finance Deals on New Cars
Navigating the new car incentive landscape is complex for any car buyer. We look at deals across popular models, and at each incentive type (cash, lease, finance) and surface the best offer when compared with the prior month. This month we’re seeing average savings of close to 8.3% off MSRP across all new models.
Cash
- Toyota Camry Hybrid (Midsize car)
Avg. MSRP: $31,125
Avg. Paid: $26,214
Avg. incentive amount: $3,246
Cash incentive: the average cash offer on this vehicle is $2,989, up 54% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents an 10% average savings off MSRP. - Volvo XC90 (Premium Midsize Utility)
Avg. MSRP: $64,947
Avg. Paid: $60,457
Avg. incentive amount: $6,853
Cash incentive: the average cash offer on this vehicle is $3,369, up 31% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 12% average savings off MSRP. - Buick Enclave (Midsize utility)
Avg. MSRP: $50,739
Avg. Paid: $43,916
Avg. incentive amount: $7,032
Cash incentive: the avg. cash offer on this vehicle is $6,677, up 20% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 14% average savings off MSRP. - Chevrolet Traverse (Midsize Utility)
Avg. MSRP: $41,414
Avg. Paid: $38,342
Avg. incentive amount: $3,756
Cash incentive: the average cash offer on this vehicle is $3,157, up 21% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents an 9% average savings off MSRP. - GMC Canyon (Midsize Pickup)
Avg. MSRP: $39,570
Avg. Paid: $36,163
Avg. incentive amount: $3,463
Cash incentive: the average cash offer on this vehicle is $3,129, up 16% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 9% average savings off MSRP.
Lease
- Subaru Ascent (Midsize Utility)
Avg. MSRP: $43,175
Avg. Paid: $39,302
Avg. incentive amount: $2,818
Lease incentive: the average lease offer on this vehicle is $4,117, up 30% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents an 7% average savings off MSRP. - Chevrolet Silverado 1500 (Fullsize Pickup)
Avg. MSRP: $50,089
Avg. Paid: $44,564
Avg. incentive amount: $5,844
Lease incentive: the average lease offer on this vehicle is $11,766, up 21% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 12% average savings off MSRP. - Chevrolet Blazer (Midsize Utility)
Avg. MSRP: $40,930
Avg. Paid: $37,238
Avg. incentive amount: $5,220
Lease incentive: the average lease offer on this vehicle is $6,790, up 20% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents an 13% average savings off MSRP. - Chevrolet Colorado (Midsize Pickup)
Avg. MSRP: $36,273
Avg. Paid: $33,345
Avg. incentive amount: $3,688
Lease incentive: the average lease offer on this vehicle is $5,845, up 19% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 10% average savings off MSRP. - Volvo XC60 (Premium Compact Utility)
Avg. MSRP: $54,358
Avg. Paid: $50,549
Avg. incentive amount: $6,383
Lease incentive: the average lease offer on this vehicle is $7,428, up 14% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents an 12% average savings off MSRP.
Finance
- Honda Pilot (Midsize Utility)
Avg. MSRP: $42,360
Avg. Paid: $38,840
Avg. incentive amount: $2,137
Finance incentive: the average finance offer on this vehicle is $2,917, up 34% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents an 5% average savings off MSRP. This discount is higher than typical for this model. - Nissan Altima (Midsize car)
Avg. MSRP: $27,928
Avg. Paid: $24,814
Avg. incentive amount: $3,452
Finance incentive: the average finance offer on this vehicle is $5,103, up 32% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 12% average savings off MSRP. - Chevrolet Equinox (Compact Utility)
Avg. MSRP: $31,330
Avg. Paid: $26,762
Avg. incentive amount: $5,498
Finance incentive: the average finance offer on this vehicle is $6,427, up 25% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 18% average savings off MSRP. - Ram 1500 (Fullsize Pickup)
Avg. MSRP: $56,200
Avg. Paid: $50,842
Avg. incentive amount: $6,224
Finance incentive: the average finance offer on this vehicle is $7,136, up 15% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 11% average savings off MSRP. - Chrysler Pacifica (Minivan)
Avg. MSRP: $44,716
Avg. Paid: $41,973
Avg. incentive amount: $4,407
Finance incentive: the average finance offer on this vehicle is $6,504, up 12% from last month.
Why this is a good deal: The average incentive across cash, lease and finance represents a 10% average savings off MSRP.
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SOURCE: TrueCar