TrueCar Shares Best End-of-Month Cash, Lease and Finance Deals on New Vehicles for September
Plus Best Deals on Used Vehicle and Trade-Ins
SANTA MONICA, Calif., Sept. 29, 2020 (GLOBE NEWSWIRE) -- , 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
- (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. - (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. - (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. - (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. - (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
- (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. - (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. - (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. - (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. - (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
- (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. - (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. - (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. - (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.
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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 | |
| Electric | -5.5% | ||
| Electric | -4.4% | ||
| Mainstream Car | -4.3% | ||
| Mainstream Car | -3.7% | ||
| Mainstream Car | -3.6% | ||
| Mainstream Car | -3.5% | ||
| Commercial Vans | -3.3% | ||
| Mainstream Utility | -3.3% | ||
| Mainstream Utility | -3.2% | ||
| Mainstream Utility | -3.2% | ||
| Mainstream Utility | -3.2% | ||
| Mainstream Cars | -3.2% | ||
| Mainstream Utility | -3.2% | ||
| Mainstream Car | -3.1% | ||
| 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.
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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.
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