The Car Coach says despite July incentive and lease deals, wait for fall
Are you looking at a new car, truck or SUV? The Car Coach is noticing that vehicle incentives are running a bit short in the new-car market. And for cost-conscious shoppers, certified pre-owned may prove to be an attractive alternative. The July incentives celebrating the 4th, have many manufacturers offering special bonuses that can get you an extra $500 – $1,000 in your pocket.
And while incentives fell month, there are still some good deals on new and used vehicles.
Currently, there are over 1 million lease returns that are due in the next couple of months.
We haven’t yet started seeing huge discounts or incentives, but most manufacturers are now offering payment deferrals, along with 0% financing. Some up to 84 months PLUS cashback – although some of these have been reduced recently. Many have also introduced loyalty bonuses, so if you do have a lease return coming up, this could put an extra $1,000 to $2,000 in your pocket.
My advice right now: If you don’t need a new car anytime soon and have the luxury of waiting, then wait until this fall.
Rebates, Incentives and Lease Deals for July 2020
Acura – Good lease deals on almost every model.
GM – (Includes Chevrolet, GMC, Buick, Cadillac) Up to $5,000 cash back and 0% financing on leftover models.
BMW – 0.9% to 3.9% financing for up to 36 months. Up to $1,500 cash back on some models . Hidden dealer incentives up to $3,500.
FCA – Chrysler, Dodge, Ram, Alfa Romeo, Maserati and Fiat – Cash rebates up to $3,000 on some models. 0% financing up to 72 months. Hidden dealer incentives of up to $1,000.
Jeep – Cash rebates up to $7,000 on some models. 0% financing up to 72 months.
Ford and Lincoln – 0% financing on most models. Rebates as high as $3,500 on some models.
Honda – 0.9% to 2.9% financing on some models.
Toyota – 0% to 3.9% financing on most models, rebates as high as $2,000 depending on the region. Hidden dealer incentives up to $4,000 on some models.
Lexus – Cash rebates up to $7,000 on some models. Great lease deals all across the board.
Nissan – Up to $5,000 rebates on some models.
Infiniti – Excellent lease deals on Q50 and Q60
Hyundai – Up to $2,500 cash rebate on some 2018 models. 0.9% – 4.9% financing on some models.
KIA – Great lease deals on most models, cashback rebates as high as $6,500.
Mercedes Benz – 1.9% financing for up to 36 months on some models.
Mazda – Rebates up to $3,000.
Volkswagen – Mostly lease deals, as low as $239/month
Follow the Car Coach on:
For more auto insights, check out: www.laurenfix.com.