The Best Summer Deals on New Cars

Why Late Summer is the Best Time to Buy

The end of summer marks the transition from one model year to the next. Dealerships are keen to clear out their current year's inventory to make space for the incoming models. This urgency translates into substantial savings for consumers. Alec Gutierrez, a senior market analyst at Kelley Blue Book, advises potential buyers to do their research online and then contact local dealers to negotiate the best price. "Try to get the dealers to bid for your business," he suggests. "If you do, you'll likely get a great deal."

Top Deals on Popular Models

Hyundai Accent GLS

• MSRP: $13,330
• Lease Offer: $232 per month with 3.9% financing

Toyota Camry LE

• MSRP: $23,360
• Purchase Offer: $334 per month for five years with 0% financing and $1,600 cashback

Fiat 500

• MSRP: $16,190
• Purchase Offer: 0% financing and a $500 rebate, bringing the monthly payment to approximately $248

Mazda3

• MSRP: $17,640
• Purchase Offer: 0% financing, resulting in a monthly payment of $269

Attractive Lease Deals

Chevrolet Malibu LS

• Lease Offer: $179 per month for two years with $1,939 down

Subaru Impreza

• Lease Offer: $169 per month for 49 months with $1,969 down

Ford Focus

• Lease Offer: $159 per month for two years with $2,378 down

Honda Fit LX

• Lease Offer: $159 per month for three years with $1,999 down

Toyota Fusion

• Lease Offer: $159 per month for two years with $2,778 down

The Benefits of Leasing

Leasing can be an attractive option for those who prefer lower monthly payments and the ability to drive a new car every few years. With the current low-interest rates and high used car values, now is an excellent time to consider leasing.

Interesting Stats

• Average Car Loan Interest Rate: As of 2023, the average interest rate for a new car loan is around 4.21% (Source: Bankrate).
• Depreciation: New cars typically lose about 20% of their value within the first year and around 60% after five years (Source: Edmunds).
• Leasing Popularity: Approximately 30% of new car transactions in the U.S. are leases (Source: Experian).

Conclusion

The end of summer is a golden opportunity for car buyers. With dealerships eager to clear out their current inventory, consumers can take advantage of significant discounts, favorable financing rates, and attractive lease deals. By doing thorough research and negotiating effectively, you can drive away with a fantastic deal on a new car.

For more information on current car deals and financing options, visit Kelley Blue Book and Edmunds.

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