The Most Beneficial Summer Deals on New Cars

Why Summer is the Best Time to Buy a Car

The end of the summer season marks the transition from one model year to the next. Dealers are motivated to clear out their 2022 models to make space for the 2023 arrivals. This urgency translates into substantial savings for consumers. According to Edmunds, the average discount on a new car can be as high as 6.4% during this period (Edmunds, 2022).

Key Benefits of Buying at the End of Summer

1. Significant Discounts: Dealers offer substantial markdowns to move older inventory.
2. Attractive Financing Options: Many manufacturers provide 0% financing to entice buyers.
3. Leasing Deals: End-of-year models often come with favorable lease terms.

Top Deals on Popular Models

Hyundai Elantra GLS

• MSRP: $13,320
• Deal: Available for as low as $232 per month with 3.9% financing.

Toyota Camry

• MSRP: $23,300
• Deal: Lease for $334 per month for five years with 0% financing and $1,400 cashback.

Fiat 500

• MSRP: $16,200
• Deal: 0% financing and a $500 rebate, making it available for approximately $248 per month.

Mazda3

• MSRP: $17,640
• Deal: 0% financing, available for $269 per month.

Leasing Options for 2022 Models

If leasing is more your style, there are plenty of attractive deals available as well. Here are some of the best leasing options:

Chevy Malibu

• Deal: Lease a 2022 Malibu LS for $179 per month for two years with $1,939 down.

Subaru Impreza

• Deal: Lease for $169 per month for 44 months with $1,969 down. The Impreza features all-wheel drive and was redesigned for 2022.

Ford Focus

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

Honda Civic LX

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

Ford Fusion

• Deal: Lease a 2022 model for $159 per month for two years with $2,778 down.

Tips for Getting the Best Deal

Do Your Research

Before heading to the dealership, spend some time researching online. Websites like Edmunds and Kelley Blue Book offer valuable insights into current market prices and available deals.

Contact Multiple Dealers

Reach out to several local dealerships and let them know what you're willing to spend. This can create a competitive environment where dealers bid for your business.

Be Prepared to Negotiate

Negotiation is key. Don't be afraid to ask for additional discounts or perks like free maintenance packages or extended warranties.

Interesting Stats You Might Not Know

• Average Car Loan Term: The average car loan term in the U.S. is now 69.7 months (Experian, 2022).
• Leasing Popularity: Approximately 30% of new car transactions are leases (LeaseGuide, 2022).
• Depreciation: New cars can lose up to 20% of their value within the first year (Carfax, 2022).

Conclusion

The end of summer is a golden opportunity for car buyers. With significant discounts, attractive financing options, and favorable leasing deals, now is the time to make your move. Do your research, contact multiple dealers, and be prepared to negotiate to get the best possible deal on your new car.

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

Sources:

• Edmunds. (2022). "Best Time to Buy a Car."
• Experian. (2022). "State of the Automotive Finance Market."
• LeaseGuide. (2022). "Car Leasing Statistics."
• Carfax. (2022). "Car Depreciation: How Much Value Will a New Car Lose?