SANTA MONICA, Calif.,
Feb. 18, 2021 /PRNewswire/
-- 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 February
2021.
"Used vehicle sales tend to peak this time of year versus new
car sales which usually peak in December when big end-of-year
discounts entice consumers to dealership lots," said Nick Woolard, Lead Industry Analyst at TrueCar.
"This year popular used vehicles will likely still fetch a premium
price as new vehicle inventory challenges continue, resulting in
about a 10% increase in used vehicle list prices when compared with
last year."
"On the flip side, that means you can still get some of the
highest values on your trade-in, particularly if you own a three to
four-year-old, low mileage truck or SUV that can be used toward the
purchase of your new vehicle."
"If you're looking for a unicorn new car deal, start with the
remaining 2020 models still in inventory. While 2020 model year
vehicles are scarce and only make up about 20% of all new
inventory, if you find one on the lot that meets your needs you'll
want to move quickly before another buyer gets to it," added
Woolard.
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 and to its recent price
trend. This month we're seeing average savings of
approximately 7% off MSRP across all new models.
Cash
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|
1.
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Chevrolet
TrailBlazer (Midsize Utility)
|
|
|
Avg. MSRP:
$27,204
|
|
|
Avg. Paid:
$25,163
|
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|
Why this is a good
deal: The average cash offer on this vehicle is $2,610,
up 32% from last month and represents savings of 10% off
MSRP.
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2.
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Chevrolet Blazer
(Midsize Utility)
|
|
|
Avg. MSRP:
$41,843
|
|
|
Avg. Paid:
$38,262
|
|
|
Why this is a good
deal: The average cash offer on this vehicle is $3,356,
up 26% from last month and represents savings of 8% off
MSRP.
|
|
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3.
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Jeep Cherokee
(Midsize Utility)
|
|
|
Avg. MSRP:
$34,600
|
|
|
Avg. Paid:
$31,230
|
|
|
Why this is a good
deal: The average cash offer on this vehicle is $4,765,
up 13% from last month and represents savings of 14% off
MSRP.
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4.
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Ford Mustang
(Sporty)
|
|
|
Avg. MSRP:
$45,180
|
|
|
Avg. Paid:
$41,060
|
|
|
Why this is a good
deal: The average cash offer on this vehicle is $3,321,
up 12% from last month and represents savings of 7% off
MSRP.
|
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5.
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GMC Terrain
(Compact Utility)
|
|
|
Avg. MSRP:
$35,409
|
|
|
Avg. Paid:
$30,569
|
|
|
Why this is a good
deal: The average cash offer on this vehicle is $5,548,
up 11% from last month and represents savings of 16% off
MSRP.
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Lease
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|
1.
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Subaru Forester
(Compact Utility)
|
|
|
Avg. MSRP:
$32,418
|
|
|
Avg. Paid:
$29,537
|
|
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Why this is a good
deal: The average lease offer on this vehicle is $3,051,
up 21% from last month and represents savings of 9% off
MSRP.
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2.
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Nissan Sentra
(Compact Car)
|
|
|
Avg. MSRP:
$22,481
|
|
|
Avg. Paid:
$21,161
|
|
|
Why this is a good
deal: The average lease offer on this vehicle is $3,080,
up 11% from last month and represents savings of 14% off
MSRP.
|
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3.
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Honda Accord
(Midsize Car)
|
|
|
Avg. MSRP:
$29,928
|
|
|
Avg. Paid:
$28,250
|
|
|
Why this is a good
deal: The average lease offer on this vehicle is $3,631,
up 10% from last month and represents savings of 12% off
MSRP.
|
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4.
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Kia Sorento
(Midsize Utility)
|
|
|
Avg. MSRP:
$37,484
|
|
|
Avg. Paid:
$35,370
|
|
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Why this is a good
deal: The average lease offer on this vehicle is $5,725,
up 6% from last month and represents savings of 15% off
MSRP.
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5.
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Toyota Corolla
(Compact Car)
|
|
|
Avg. MSRP:
$23,224
|
|
|
Avg. Paid:
$21,245
|
|
|
Why this is a good
deal: The average lease offer on this vehicle is $3,887,
up 5% from last month and represents savings of 17% off
MSRP.
Comparing lease
offers? Discover what other consumers are paying monthly
for their lease here.
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Finance
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1.
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RAM 1500 (Fullsize
Pickup)
|
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Avg. MSRP:
$56,869
|
|
|
Avg. Paid:
$50,867
|
|
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Why this is a good
deal: The average finance offer on this vehicle is
$8,905,
up 18% from last month and represents savings of 16% off
MSRP.
|
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2.
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Subaru Crosstrek
(Subcompact Utility)
|
|
|
Avg. MSRP:
$29,327
|
|
|
Avg. Paid:
$27,042
|
|
|
Why this is a good
deal: The average finance offer on this vehicle is
$1,792,
up 12% from last month and represents savings of 6% off
MSRP.
|
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3.
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Ford Escape
(Compact Utility)
|
|
|
Avg. MSRP:
$31,370
|
|
|
Avg. Paid:
$27,947
|
|
|
Why this is a good
deal: The average finance offer on this vehicle is
$6,036,
up 10% from last month and represents savings of 19% off
MSRP.
|
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4.
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Jeep Grand
Cherokee (Midsize Utility)
|
|
|
Avg. MSRP:
$46,193
|
|
|
Avg. Paid:
$42,786
|
|
|
Why this is a good
deal: The average finance offer on this vehicle is
$5,924,
up 9% from last month and represents savings of 13% off
MSRP.
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5.
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Honda HR-V
(Subcompact Utility)
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Avg. MSRP:
$25,252
|
|
|
Avg. Paid:
$24,261
|
|
|
Why this is a good
deal: The average finance offer on this vehicle is
$2,656,
up 3% from last month and represents savings of 11% 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 2/15/2021. 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 are 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
|
Chrysler PT
Cruiser
|
Mainstream
Cars
|
-5.6%
|
Honda
Clarity
|
Electric
|
-5.0%
|
smart
fortwo
|
Microcar
|
-4.7%
|
Mazda
Mazda5
|
Subcompact
Utility
|
-4.6%
|
Hyundai
Ioniq
|
Electric
|
-4.6%
|
Mitsubishi
Lancer
|
Compact
|
-4.5%
|
Nissan
LEAF
|
Electric
|
-4.4%
|
Hyundai
Accent
|
Mainstream
Cars
|
-4.4%
|
Volvo
S90
|
Luxury
Cars
|
-4.3%
|
MINI
Hardtop
|
Electric
|
-4.3%
|
Honda
Insight
|
Mainstream
Cars
|
-4.3%
|
Toyota Corolla
iM
|
Compact
|
-4.3%
|
Audi
A3
|
Luxury
Cars
|
-4.2%
|
Toyota
Yaris
|
Mainstream
Cars
|
-4.2%
|
MINI
Countryman
|
Mainstream
Utility
|
-4.2%
|
Change in list price calculated as a model average of vehicle
level price changes for nationwide listings as of 2/15/2021 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 Express
Passenger
|
Commercial
Vans
|
-0.2%
|
Chevrolet Express
Cargo Van
|
Commercial
Vans
|
-0.6%
|
Porsche
911
|
Luxury
Cars
|
-0.8%
|
BMW M5
|
Luxury
Cars
|
-0.8%
|
Nissan NV200 Compact
Cargo
|
Commercial
Vans
|
-1.2%
|
Mercedes-Benz
Sprinter Cargo Van
|
Commercial
Vans
|
-1.3%
|
Mitsubishi
Outlander
|
Mainstream
Utility
|
-1.4%
|
Lexus LX
|
Luxury
Utility
|
-1.5%
|
Chevrolet
Corvette
|
Prem
Performance
|
-1.5%
|
Ford Super Duty
F-550
|
Pickups
|
-1.5%
|
Ram 2500
|
Pickups
|
-1.5%
|
Chevrolet Silverado
2500HD
|
Pickups
|
-1.5%
|
Mercedes-Benz
CLK
|
Prem
Fullsize
|
-1.6%
|
Ford Transit
Passenger Wagon
|
Commercial
Vans
|
-1.6%
|
Ford Super Duty
F-350
|
Pickups
|
-1.6%
|
Change in list price calculated as a model average of vehicle
level price changes for nationwide listings as of 2/15/2021 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.
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
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SOURCE TrueCar, Inc.