TrueCar Shares Best Black Friday Cash, Lease, and Finance Deals on Popular New Models
Plus Best Deals on Used Vehicle and Trade-In Values
SANTA MONICA, Calif., Nov. 23, 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 Black Friday deals on new and used vehicle purchases and trade-in values.“Black Friday is the biggest shopping day of the year and it’s no different for car shopping. It’s a great weekend for car buyers looking to score a deal on their next car,” said Nick Woolard, Director of OEM Analytics for TrueCar.
“Pandemic-related production pauses this past spring caused a delay in getting the new model year vehicles on the dealers’ lots, many of which are still rolling out. This bodes well for new car shoppers, as automakers incentivize the outgoing model when they introduce the new model year. Additionally, many automakers are looking to make up for lower sales volumes earlier in the year, leaving plenty of opportunities for deals this Black Friday,” added Woolard.
*Best Cash, Lease**,** and Finance Deals on New Cars*
Navigating the new car incentive landscape is complex for any car buyer. TrueCar looks at deals across popular models, and at each incentive type (cash, lease, finance), and surfaces the best offer when compared with the prior month. This month average savings off MSRP are close to 7% across all new models.
*Cash*
*1.* *Hyundai Elantra (Compact Car)* Avg. MSRP: $21,945 Avg. Paid: $19,942 Avg. incentive amount: $3,762 Cash incentive: The average cash offer on this vehicle is $2,731, up 8% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 17% off MSRP.
*2.* *Hyundai Kona (Micro Utility)* Avg. MSRP: $26,702 Avg. Paid: $24,393 Avg. incentive amount: $3,332 Cash incentive: The average cash offer on this vehicle is $2,549, up 6% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 12% off MSRP.
*3.* *Volvo XC60 (Prem Compact Utility)* Avg. MSRP: $54,134 Avg. Paid: $50,061 Avg. incentive amount: $7,346 Cash incentive: The average cash offer on this vehicle is $2,319, up 17% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 14% off MSRP.
*4.* *Toyota 4Runner (Midsize Utility)* Avg. MSRP: $45,995 Avg. Paid: $42,239 Avg. incentive amount: $1,820 Cash incentive: The average cash offer on this vehicle is $933, up 17% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 4% off MSRP. This model rarely sees high incentive amounts.
*5.* *Lexus NX 300 (Prem Compact Utility)* Avg. MSRP: $43,986 Avg. Paid: $41,386 Avg. incentive amount: $6,300 Cash incentive: The average cash offer on this vehicle is $2,036, up 77% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 14% off MSRP.
*Lease*
*1.* *Honda Civic (Compact Car)* Avg. MSRP: $23,887 Avg. Paid: $22,482 Avg. incentive amount: $2,372 Lease incentive: The average lease offer on this vehicle is $2,742, up 36% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 10% off MSRP.
*2.* *Toyota Highlander (Midsize Utility)* Avg. MSRP: $45,172 Avg. Paid: $40,895 Avg. incentive amount: $2,928 Lease incentive: The average lease offer on this vehicle is $5,020, up 34% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 6% off MSRP.
*3.* *Subaru Crosstrek (Subcompact Utility)* Avg. MSRP: $29,183 Avg. Paid: $26,750 Avg. incentive amount: $2,036 Lease incentive: The average lease offer on this vehicle is $2,887, up 25% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 7% off MSRP.
*4.* *Nissan Altima (Midsize Car)* Avg. MSRP: $27,930 Avg. Paid: $24,631 Avg. incentive amount: $3,501 Lease incentive: The average lease offer on this vehicle is $4,891, up 24% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 13% off MSRP.
*5.* *Volvo XC90 (Prem Midsize Utility)* Avg. MSRP: $64,065 Avg. Paid: $59,412 Avg. incentive amount: $8,018 Lease incentive: The average lease offer on this vehicle is $9,006, up 23% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 13% off MSRP.
*Finance*
*1.* *Kia K5 (Midsize Car)* Avg. MSRP: $28,311 Avg. Paid: $27,368 Avg. incentive amount: $4,209 Finance incentive: The average lease offer on this vehicle is $3,155, up 32% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 15% off MSRP.
*2.* *Lexus RX 350 (Prem Midsize Utility)* Avg. MSRP: $55,024 Avg. Paid: $51,930 Avg. incentive amount: $6,387 Finance incentive: The average lease offer on this vehicle is $5,248, up 24% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 12% off MSRP.
*3.* *Hyundai Santa Fe (Midsize Utility)* Avg. MSRP: $34,068 Avg. Paid: $31,178 Avg. incentive amount: $4,305 Finance incentive: The average lease offer on this vehicle is $5,328, up 14% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 13% off MSRP.
*4.* *Hyundai Tucson (Compact Utility)* Avg. MSRP: $29,098 Avg. Paid: $27,033 Avg. incentive amount: $4,080 Finance incentive: The average lease offer on this vehicle is $4,316, up 9% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 14% off MSRP.
*5.* *Ford Explorer (Midsize Utility)* Avg. MSRP: $49,348 Avg. Paid: $44,183 Avg. incentive amount: $7,502 Finance incentive: The average lease offer on this vehicle is $8,171, up 8% from last month. Why this is a good deal: The average incentive across cash, lease, and finance represents an average savings of 15% 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 11/17/2020. 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*
TrueCar looked at popular used vehicles at a model level and curated those that experienced a significant month-over-month drop in the list price, indicating a good deal. EVs and other fuel-efficient sedans top the list for the third month, offering some of the best discounts available in a strong used car market.
*Brand and Model* *Segment* *MoM** Drop in List Price*
*Chevrolet Bolt EV* Electric -6.3 %
*Chrysler PT Cruiser* Mainstream Utility -5.5 %
*Lincoln Town Car* Luxury Cars -5.5 %
*Chevrolet Volt* Mainstream Cars -5.1 %
*Chevrolet Cobalt* Mainstream Cars -5.1 %
*Volkswagen e-Golf* Electric -5.1 %
*Hyundai Ioniq* Electric -5.0 %
*Dodge Avenger* Mainstream Cars -4.9 %
*BMW i3* Electric -4.9 %
*Nissan LEAF* Electric -4.8 %
*Ford C-Max* Mainstream Cars -4.8 %
*Honda Insight* Mainstream Cars -4.7 %
*Honda Clarity* Electric -4.6 %
*Acura ILX* Luxury Cars -4.6 %
*Toyota Prius c* Mainstream Cars -4.6 %
Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 11/15/2020 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 **De**als on Trade-I**n* *Values*
Popular used models with the biggest increase in list price compared with the average are highlighted below. 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.
“Used vehicle values continue to climb in November, which is great news for consumers looking to trade in their vehicle for a new one,” said Woolard. “Values are currently up $1,790 or 8% in comparison to last November, when looking at the average used vehicle listed across the TrueCar marketplace.”
*Brand and Model* *Segment* *MoM** Change in List Price*
Hyundai Azera Mainstream Cars -0.8 %
Mercedes-Benz GLB Prem Compact Utility -1.0 %
Land Rover Range Rover Luxury Utility -1.2 %
Ford Transit Cargo Van Commercial Vans -1.3 %
Ford Super Duty F-550 Pickups -1.3 %
Chevrolet Express Cargo Van Commercial Vans -1.4 %
Ford Super Duty F-450 Chassis Cab Pickups -1.4 %
Porsche 911 Luxury Cars -1.4 %
BMW Z4 Luxury Cars -1.5 %
Ram 2500 Pickups -1.6 %
Tesla Model X Electric -1.6 %
Land Rover Range Rover Sport Luxury Utility -1.6 %
BMW X7 Luxury Utility -1.6 %
GMC Sierra 2500HD Pickups -1.7 %
Porsche Panamera Luxury Cars -1.8 %
Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 10/15/2020 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.
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
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d2cad174-27b4-4faa-8a20-46470ead5768
CONTACT: TrueCar Contacts:
Shadee Malekafzali
Senior Director, Public Relations
shadee@truecar.com
424-258-8694