Thanks to an overflow of 2017 SUVs, prices are plummeting. This means January and February are going to be the best months to buy in 2018.
Because many manufacturers get paranoid about hitting their yearly goals and dealerships need to make room on lots for their new models, discounts in 2017 autos continue to get bigger and bigger. And from what we see, the months ahead are going to show the biggest drop in prices.
For example, Ford is testing a new incentive package to avoid massive sales losses and many car makers have rebates built in that make up 28-30% off MSRP.
Sales Are Down
Over the past decade, uncontrollably high gas prices and a need (or desire) for more driving changed the trajectory of the SUV market among auto manufacturers forever. Those with SUVs quickly exchanged them for more efficient vehicles and drivers definitely were not purchasing any new vehicles for almost an entire decade.
In fact, the industry saw an 18% drop in sales from 2008. Manufacturing slowed, SUV prices shot up, and most americans ran away from SUVs like the plague.
Since, gas prices have started quickly declining from their record highs and manufacturers have learned that fewer Americans have the appetite for a heavy, inefficient truck. With the new innovation around these larger vehicles, and major efficiency improvements, these vehicles are working their way back to becoming #1 again.
How You Can Take Advantage
Often times, incentives are “hidden.” This means the dealerships do not publicize them in marketing, but you can find details about the incentives just by doing some simple searches and demand them when going to buy your vehicle.
Manufacturers like Nissan, Honda, Toyota, and Chevy are offering rebates of up to $4,000 while Hyundai, BMW, and GM are giving away excellent lease deals with $0 down.
The award-winning Nissan Murano (winner of the 2018 Best 2-Row SUV for the Money award) is a crowd favorite that is offering 0% APR for 72 months and a cash back incentive. Are you a Toyota fan? There are up to $4,000 hidden incentives on some models now.
Additionally, according to US News, Toyota is offering cash back on the 2018 Toyota Rav4, a spacious, dynamic, 5-passenger vehicle. If you’re a Chevy fan, the 2018 Chevrolet Equinox is selling for below MSRP.
Like anything, it’s always a good idea to be aware of the latest research. We recommend comparing at least 3 or 4 options before making a final decision. Doing a search online is typically the quickest, most thorough way to discover all the pros and cons you need to keep in mind.
