SUV Prices Are Dropping: Find Deals on These Models
Over the past decade, SUVs declined in popularity amid uncontrollably high gas prices. As families exchanged SUVs for more efficient vehicles and sales fell dramatically, an excess of SUVs was left behind — and this means there’s a surplus of SUVs perfectly priced for seniors looking for a great deal on a sizable car.
Recently, SUV sales dropped even more by a historic 18%, The Nashville Ledger1 reports. Manufacturing slowed, SUV prices shot up, and people ran away from SUVs.
Yet suddenly, SUVS are back on the road. So how have SUVs become more popular than ever today? For one, dealerships drastically decreased prices on unsold inventory because they needed to free up their lots. Secondly, manufacturers started making SUVs more fuel-efficient and decreased the starting prices on new SUVs significantly. Because auto companies need to increase SUV sales, drivers are finding deals and discounts almost everywhere they look.
A New Era of SUV
Recently, gas prices started quickly declining from their record highs during the early part of this decade. Since April 2017, gas prices have fallen by as much as 11% each month according to CNN2, making it affordable to drive SUVs again.
But cheap gas prices aren’t the only reason for the sudden shift. Major auto manufacturers learned that consumers simply don’t have the appetite for a heavy, inefficient SUV that could cost them a third of their income at the pump regardless of gas prices.
To that end, starting just a few years ago, automakers crafted a new line of SUVs and crossovers designed to blend the size and comfort of SUVs with the performance and efficiency of sedans. With this development and an increased demand in the more fuel-efficient vehicles, manufacturers started upping production once again, leaving many dealerships with an influx of SUVS to get off their lots this year.
How Seniors Can Find SUV Deals
Now more so than ever, new SUV buyers will benefit from incentives offered by dealers who need to make space for the new 2019 models arriving soon.
So, whether you want an SUV to take your grandkids on a cross-country road trip before school starts, or your around town driving each week requires a fuel-efficient ride with cargo space, cash back incentives are emerging as we speak.
Popular automakers like Ford and Fiat are giving drivers cash back on some of 2018’s top SUV models. The 2018 Ford Escape3 is offering up to $2,000 cash back plus 0% financing for qualified buyers, and Fiat4 is incentivizing drivers to buy the 2017 500X with $4,000 in cash back. The 2018 Nissan Rogue, one of US News’ top compact SUVs5, is available for 0.9% APR for up to 60 months and a cash back incentive of $1,750.
Additionally, according to US News6, Toyota is offering low financing options and cash back on the 2018 Toyota Rav4, a spacious, dynamic, 5-passenger vehicle. Buick, Honda, and Chevrolet are all following suit, offering great financing offers between 0% and 1.9% on the newest models like the Encore, HR-V, and Equinox models.
These are just a few of the deals we’ve spotted. As new models arrive at dealerships for the 2019 model year, incentives and pricing will likely change – and automakers are always ready to offer even better discounts on last year’s models still sitting on the lot. SUV incentives change each month, and sometimes even throughout the week according to US News. Search before you buy, and you’ll be able to compare different pricing and offers.
To get the biggest savings in your area, do your research, as many of the dealerships’ biggest deals are location-based. You could find yourself with even bigger savings than the above!
If you’re interested in SUV deals, start a search today.