TrueCar Shares Best End-of-Year Cash, Lease and Finance Deals on New Vehicles for December 2020
Plus Best Deals on Used Vehicle and Trade-Ins
SANTA MONICA, Calif., Dec. 17, 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 end-of-year deals on new and used vehicle purchases and trade-in values for December 2020.“December has typically been the best month to buy when it comes to getting a discount off the sticker price, and the last day of the year has been the best day,” said Nick Woolard, Director of OEM Analytics at TrueCar. “While this year has been anything but typical, we anticipate these savings trends will continue for 2020, and project average savings of over 10% off MSRP on new cars for December and close to 11% on December 31^st.”
“Consumers with the most flexibility in terms of the vehicle model, color and options will have the best opportunity to score big savings on a new vehicle.”
*Best Cash, Lease and Finance Deals on New Cars: December 2020*
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.
*Best Cash Deals*
*1.* *Toyota Highlander (Midsize Utility)* Avg. MSRP: $45,476 Avg. Paid: $41,022 Avg. incentive amount: $3,469 Cash incentive: the average cash offer on this vehicle is $1,578, up 23% from last month. Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 8% off MSRP.
*2.* *Dodge Journey (Midsize Utility)* Avg. MSRP: $27,143 Avg. Paid: $25,726 Avg. incentive amount: $4,163 Cash incentive: the average cash offer on this vehicle is $4,163, up 23% 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.
*3.* *Kia Rio (Subcompact)* Avg. MSRP: $17,657 Avg. Paid: $16,580 Avg. incentive amount: $1,249 Cash incentive: the average cash offer on this vehicle is $1,240, up 18% 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.* *Chrysler Pacifica (Minivan)* Avg. MSRP: $45,197 Avg. Paid: $42,047 Avg. incentive amount: $4,617 Cash incentive: the average cash offer on this vehicle is $4,534, up 11% 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.
*5.* *Hyundai Tucson (Compact Utility)* Avg. MSRP: $29,066 Avg. Paid: $26,854 Avg. incentive amount: $4,144 Cash incentive: the average cash offer on this vehicle is $3,268, up 7% 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.
*Best Lease Deals*
*1.* *Hyundai Ioniq Electric (Electric)* Avg. MSRP: $36,650 Avg. Paid: $34,919 Avg. incentive amount: $17,982 Lease incentive: the average lease offer on this vehicle is $18,138, up 11% from last month. Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 54% off MSRP.
*2.* *Chevrolet Blazer (Midsize Utility)* Avg. MSRP: $41,459 Avg. Paid: $37,956 Avg. incentive amount: $5,034 Lease incentive: the average lease offer on this vehicle is $8,071, up 9% 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.* *Kia Sportage (Compact Utility)* Avg. MSRP: $28,879 Avg. Paid: $25,551 Avg. incentive amount: $4,454 Lease incentive: the average lease offer on this vehicle is $6,491, 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.
*4.* *Nissan Sentra (Compact Car)* Avg. MSRP: $22,395 Avg. Paid: $21,076 Avg. incentive amount: $2,327 Lease incentive: the average lease offer on this vehicle is $3,946, up 5% 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.
*5.* *Nissan Altima (Midsize Car)* Avg. MSRP: $27,833 Avg. Paid: $24,958 Avg. incentive amount: $3,516 Lease incentive: the average lease offer on this vehicle is $4,896, up 4% 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.
*Best Finance Deals *
*1.* *Ford Explorer (Midsize Utility)* Avg. MSRP: $49,494 Avg. Paid: $44,685 Avg. incentive amount: $7,840 Finance incentive: the average finance offer on this vehicle is $9,826, up 16% from last month. Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 16% off MSRP.
*2.* *Ford Edge (Midsize Utility)* Avg. MSRP: $40,109 Avg. Paid: $35,579 Avg. incentive amount: $7,451 Finance incentive: the average finance offer on this vehicle is $9,022, up 14% from last month. Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 19% off MSRP.
*3.* *Ford Expedition (Fullsize Utility)* Avg. MSRP: $69,308 Avg. Paid: $63,387 Avg. incentive amount: $9,465 Finance incentive: the average finance offer on this vehicle is $11,673, up 12% 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.* *Subaru Outback (Midsize Utility)* Avg. MSRP: $36,549 Avg. Paid: $33,367 Avg. incentive amount: $3,617 Finance incentive: the average finance offer on this vehicle is $3,496, up 12% 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.
*5.* *Honda CR-V (Compact Utility)* Avg. MSRP: $31,480 Avg. Paid: $29,772 Avg. incentive amount: $2,518 Finance incentive: the average finance offer on this vehicle is $2,105, up 12% from last month. Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 8% off MSRP.
Visit the TrueCar Blog for vehicle descriptions and click here for vehicle images.
^Pricing and savings information is based on transaction data available to TrueCar as of 12/16/2020. 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 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: December 2020*
We look at popular used vehicles at a model level and curate those that have experienced a significant month-over-month drop in the list price indicating a good deal.
“We continue to see strength in used vehicles with the average list price about 9% higher than the prior year. This is partially driven by strong demand for used trucks and large SUVs which dominate our best trade-in list. Consumers looking for the best used vehicle deals will have the best opportunity with sedans, electric vehicles and compact vehicles, which are currently seeing the largest month-over-month declines,” added Woolard.
*Brand and Model* *Segment* *MoM Drop in
List Price*
*Nissan LEAF* Electric -5.2 %
*Chevrolet Sonic* Mainstream Cars -4.9 %
*BMW i3* Electric -4.8 %
*Ford C-Max* Mainstream Cars -4.6 %
*Toyota Prius* Mainstream Cars -4.6 %
*Ford Focus* Mainstream Cars -4.5 %
*Toyota C-HR* Mainstream Utility -4.4 %
*Kia Forte* Mainstream Cars -4.4 %
*Kia Soul* Electric -4.4 %
*Hyundai Veloster* Mainstream Cars -4.4 %
*Chevrolet Volt* Mainstream Cars -4.3 %
*Kia Rio* Mainstream Cars -4.3 %
*Honda Fit* Mainstream Cars -4.2 %
*Nissan Kicks* Mainstream Utility -4.1 %
*Nissan Versa* Mainstream Cars -4.1 %
Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 12/15/2020 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 Deals on Trade-In Values *
Below, we highlight popular used models with the smallest decline 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 Change in
List Price*
Ram 2500 Pickups -1.7 %
Land Rover Range Rover Sport Luxury Utility -1.8 %
Chevrolet Silverado 2500HD Pickups -1.8 %
Ford Super Duty F-250 Pickups -1.9 %
Ford Super Duty F-350 Pickups -1.9 %
Volvo XC90 Luxury Utility -1.9 %
Mercedes-Benz S-Class Luxury Cars -1.9 %
Mercedes-Benz GLA Luxury Utility -1.9 %
Cadillac Escalade Luxury Utility -2.0 %
GMC Yukon Mainstream Utility -2.0 %
Mercedes-Benz E-Class Luxury Cars -2.0 %
Mercedes-Benz GLS Luxury Utility -2.1 %
GMC Sierra 1500 Pickups -2.2 %
Subaru WRX Mainstream Cars -2.3 %
Mercedes-Benz C-Class Luxury Cars -2.3 %
Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 12/15/2020 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
*TrueCar Contacts: *
Shadee Malekafzali
Senior Director, Public Relations
shadee@truecar.com
424-258-8694