TrueCar Shares Best End-of-Month Cash, Lease and Finance Deals on New Vehicles for September

September 29, 2020
Plus Best Deals on Used Vehicle and Trade-Ins

SANTA MONICA, Calif., Sept. 29, 2020 (GLOBE NEWSWIRE) -- TrueCar, Inc. (NASDAQ: TRUE), 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 September 2020.

“Inventory availability on popular models continues to be a challenge this month and likely through the end of the year due to production pauses a few months ago, so consumers looking for the best deals will likely need to be flexible in their trim and model choices,” said Nick Woolard, Director of OEM Analytics.

“Now is also a good time to find a deal on the outgoing 2020 model year vehicles,” added Woolard. “Automakers typically begin introducing their new model year in the spring and summer and start discounting the outgoing model. This year there have been delays introducing the new models which means many of the 2021 model year vehicles are just starting to hit the market.”

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% off MSRP across all new models.

Cash

  1. Chevrolet Bolt (Electric)
    Avg. incentive amount: $19,018
    Cash incentive: the average cash offer on this vehicle is $11,088, up 25% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 46% average savings off MSRP.

  2. Ford Expedition (Fullsize utility)
    Avg. incentive amount: $8,532
    Cash incentive: the avg. cash offer on this vehicle is $7,158, up 44% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 13% average savings off MSRP.

  3. Lexus ES350 (Premium Midsize)
    Avg. incentive amount: $8,048
    Cash incentive: the average cash offer on this vehicle is $4,500, up 27% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 17% average savings off MSRP.

  4. GMC Acadia (Midsize Utility)
    Avg. incentive amount: $4,949
    Cash incentive: the average cash offer on this vehicle is $3,956, up 28% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents an 11% average savings off MSRP.

  5. Buick Enclave (Midsize Utility)
    Avg. incentive amount: $4,359
    Cash incentive: the average cash offer on this vehicle is $4,146, up 47% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 9% average savings off MSRP.

Lease

  1. Ford Mustang (Sport)
    Avg. incentive amount: $2,834
    Lease incentive: the average lease offer on this vehicle is $5,505, up 6% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 6% average savings off MSRP.

  2. Subaru Forester (Compact Utility)
    Avg. incentive amount: $2,596
    Lease incentive: the average lease offer on this vehicle is $2,335, up 2% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 9% average savings off MSRP.

  3. BMW X5 (Premium Midsize)
    Avg. incentive amount: $7,681
    Lease incentive: the average lease offer on this vehicle is $9,191, up 4% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents an 11% average savings off MSRP.

  4. Toyota Tacoma (Midsize Pickup)
    Avg. incentive amount: $2,336
    Lease incentive: the average lease offer on this vehicle is $4,994, up 7% from last month.
    Why is this a good deal: The average incentive across cash, lease and finance represents a 7% average savings off MSRP.

  5. Chevrolet Colorado (Midsize Pickup)
    Avg. incentive amount: $2,952
    Lease incentive: the average lease offer on this vehicle is $5,540, up 22% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents an 8% average savings off MSRP.

Finance

  1. Mazda CX-5 (Compact SUV)
    Avg. incentive amount: $3,508
    Finance incentive: the average finance offer on this vehicle is $4,563, up 22% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents an 11% average savings off MSRP.

  2. Jeep Renegade (Micro Utility)
    Avg. incentive amount: $5,992
    Finance incentive: the average finance offer on this vehicle is $5,095, up 2% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 21% average savings off MSRP.

  3. Toyota 4Runner (Midsize Utility)
    Avg. incentive amount: $1,345
    Finance incentive: the average finance offer on this vehicle is $2,241, up 39% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 3% average savings off MSRP. This model rarely sees significant incentive offers.

  4. Toyota Tundra (Micro Utility)
    Avg. incentive amount: $4,479
    Finance incentive: the average finance offer on this vehicle is $7,766, up 54% from last month
    Why is this a good deal: The average incentive across cash, lease and finance represents a 10% average savings off MSRP.

    Visit the TrueCar Blog for vehicle descriptions and photos.

Pricing and savings information is based on transaction data available to TrueCar as of 9/21/2020. Average cash, lease and finance savings are subject to change and individual savings may vary by factors such as location, individual vehicle attributes, dealer, credit approval, credit score, APR, applied residual value, amount financed and term. Average lease and finance payments may vary based on similar factors as well as down payment. Average finance and lease savings based on an assumed 4.15% APR and ALG residual value benchmarks.

Best Deals on Used Vehicles
We looked at popular used vehicles at a model level and curated those that have experienced a significant month-over-month drop in the list price indicating a good deal.

Brand and Model Segment MoM Drop in List Price
Chevrolet Bolt EV Electric -5.5%
Nissan LEAF Electric -4.4%
Chevrolet Volt Mainstream Car -4.3%
Ford C-Max Mainstream Car -3.7%
Toyota Corolla Mainstream Car -3.6%
Toyota Prius Mainstream Car -3.5%
Chevrolet Express Passenger Commercial Vans -3.3%
Dodge Journey Mainstream Utility -3.3%
Hyundai Santa Fe Mainstream Utility -3.2%
Mitsubishi Outlander Mainstream Utility -3.2%
Chevrolet Trax Mainstream Utility -3.2%
Ford Fiesta Mainstream Cars -3.2%
Dodge Grand Caravan Mainstream Utility -3.2%
Chevrolet Malibu Mainstream Car -3.1%
Honda Fit Mainstream Car -3.1%

Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 9/20/2020 compared to the prior month. Individual vehicle price changes may vary based on a variety of factors, including location, individual vehicle attributes and dealer.

Best Deals on Trade-In Values
Below, we highlight popular used models with the biggest increase in list price compared with the average. A smaller drop or small gain in list price signifies that the vehicle is retaining its market value and could fetch a stronger trade-in value.

Brand and Model Segment MoM Drop in List Price
Chevrolet Silverado 2500HD Pickups -0.7%
Ford Super Duty F-350 Pickups -0.7%
Ram 2500 Pickups -0.8%
Ford Super Duty F-250 Pickups -1.0%
Nissan Titan Pickups -1.2%
Nissan Frontier Pickups -1.3%
Volvo XC90 Luxury Utility -1.4%
Ram 1500 Pickups -1.4%
Mercedes-Benz S-Class Luxury Cars -1.5%
Mercedes-Benz C-Class Luxury Cars -1.5%
BMW 3 Series Luxury Cars -1.5%
GMC Sierra 1500 Pickups -1.6%
Toyota Tundra Pickups -1.6%
BMW X5 Luxury Utility -1.6%
Mercedes-Benz GLC Luxury Utility -1.6%

Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 9/20/2020 compared to the prior month. Individual vehicle list price changes may vary based on a variety of factors, including location, individual vehicle attributes and dealer. Changes in used vehicle list prices are assumed to be correlated with corresponding changes in trade-in value, but this correlation between list prices and trade-in values may not exist for the identified models or may not be experienced to the same degree.

If you’re active duty military, veteran or a family member of one, visit TrueCar Military at truecar.com/military for our Military Appreciation Package.

Additional media assets can be found here.

About TrueCar

TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient car buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new and used cars – all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam’s Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas and Boston, Massachusetts.

For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1-844-469-8442 (US toll-free) Email: pr@truecar.com

 


TrueCar Contacts:
Shadee Malekafzali
Senior Director, Public Relations
shadee@truecar.com
424-258-8694

Primary-TrueCar_Gradient_Black_Transparent.png

Source: TrueCar, Inc.