End-of-Year Car Deals With Up to 19% Savings Motivates Shoppers to Buy

Cars.com Finds 51% of Its Shoppers Plan to Buy Within 30 Days, Most Looking to Spend Less Than $20,000

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Dec 22, 2020, 07:30 ET

CHICAGO, Dec. 22, 2020 /PRNewswire/ -- Cars.com (NYSE: CARS), a leading digital automotive marketplace and solutions provider, today announced the top end-of-year car deals. As Americans continue to prioritize car ownership as a safe mode of transportation during the COVID-19 pandemic, motivated buyers can find end-of-year deals with up to 19% off select new vehicles. Recent data reveals 85% of Cars.com shoppers plan to purchase a car in the next six months, with 51% planning to buy in the next month.¹

According to Cars.com, shoppers throughout the pandemic are consistently moving up car-purchasing timelines due to COVID-19 concerns, with more than 20% of shoppers buying sooner than planned. The holidays are historically one of the best times to buy a car, and this year, shoppers can expect strong discounts and incentives from automakers.

"For the many car shoppers looking to buy in the coming weeks, affordability has never been more important," said Kelsey Mays, Cars.com assistant managing editor. "On Cars.com, 72% of shoppers are looking for a vehicle under $20,000, and end-of-year deals can help shoppers narrow their search and find an affordable vehicle to meet their needs."²

For shoppers buying a new vehicle this December, Cars.com compiled some of the best e nd-of-year car deals for 2020:

2020 Ford F-150 XLT: The ever-popular pickup truck is available for up to $7,000 in cash discounts. In select areas, shoppers can find bonuses of up to $12,000 off select crew-cab XLT inventory with specific options and long-lot vehicles. Qualified shoppers can get up to 5.9% financing for 84 months or 60 months as low as 0%. Select regions offer cash discounts and bonuses for eligible trade-ins on top of 60-month discount financing.

Factory discount: $4,000-$7,000
Approximate price after discounts: $29,500-$59,000
Approximate factory savings: 6-19%

2020 GMC Terrain: Shoppers interested in a two-row compact SUV can take advantage of employee pricing, which will get at minimum $4,250 off the SUV and more than $7,500 off if selecting the top-end Denali trim (offers exclude base SL trim).

Factory discount: $4,250-$7,710, excluding base SL trim
Approximate price after discounts: $25,000-$37,000
Approximate factory savings: 14-17%

2020 Chevrolet Trax: Like the Terrain, this GM subcompact SUV is advertising employee pricing. Depending on the trim level, shoppers can get $3,500-$5,000 off.

Factory discount: $3,500-$5,255
Approximate price after discounts: $19,000-$24,000
Approximate factory savings: 16-18%

2020 Nissan Murano: Shoppers interested in Nissan's mid-size SUV can get up to $5,000 off the 2020 Murano, with another $1,000 discounted for the range-topping SL and Platinum trims. Qualified shoppers can get 0% financing for 72 months plus up to $3,000 bonus cash or $4,000 if you finance an SL or Platinum.

Factory discount: $4,000-$6,000
Approximate price after discounts: $28,000-$46,500
Approximate factory savings: 10-15%

2020 Ford Edge: Buyers interested in Ford's mid-size SUV can get up to $3,500 off lower trim levels in select regions, or up to $4,500 off the Titanium or ST trims. In certain regions and on select trims, Ford offers $2,000 in trade-in bonuses, plus another $500 for long-lot life Edges. Qualified shoppers can get 3.9% financing for 84 months and cash back in select regions. Select regions offer 0% for 60 to 72 months with additional bonus cash, though some require qualifying trade-ins or specific trim levels only.

Factory discount: $3,000-$4,500
Approximate price after discounts: $29,500-$52,000
Approximate factory savings: 6-11%

2020 Ford EcoSport: Shoppers can take advantage of steep price cuts for Ford's smallest SUV with up to $6,750 off, depending on the trim and region. Most regions offer an additional 8.9% for 84 months' financing, while select regions offer 0% financing for 72 months.

Factory discount: $3,250-$6,750
Approximate price after discounts: $18,000-$21,000
Approximate factory savings: 15-25%

2020 Ford Fusion: Consumers looking for this family sedan, which is in its final year as Ford turns to other body styles, can get up to $2,500 to $4,500 cash off all trim levels of the Fusion, depending on the region. If trading in a vehicle, Ford offers an additional $2,000 trade assist in most regions. Separate discounts are available for the Fusion's hybrid and plug-in hybrid options, too.

Factory discount: $2,500-$4,500
Approximate price after discounts: $20,000-$36,000
Approximate factory savings: 7-19%

2021 Hyundai Kona: Shoppers interested in a subcompact SUV can get as much as $3,000 off if financing with the automaker at the standard rates, though in many regions the discount applies to the all-wheel-drive base SE trim. Creditworthy shoppers can also get 0% financing for 60 months.

Factory discount: $1,000-$3,000
Approximate price after discounts: $20,000-$30,000
Approximate factory savings: 3-13%

Brands like Buick, Chevrolet and GMC are rolling out employee discounts, while Chrysler, Jeep and Ram have similar programs. Discounts vary widely by trim and region.

"When it comes to car shopping, we always recommend consumers do their research on Cars.com to see available pricing on several examples of the car they are buying and then negotiate for the fairest price possible," Mays added. "Shoppers should pay attention to the final, out-the-door price of the car, not just the monthly payment, to ensure they are getting the best deal in the long run."

For used-car shoppers, Mays encourages consumers to visit the Cars.com Used-Car Buyer's Checklist. Cars.com's virtual test drives can be found on its YouTube channel.

¹Cars.com Consumer Survey; October 2020; 1,000 responses
²Cars.com Internal Data

About CARS
CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS companies include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences, FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS properties include Cars.com™, Dealer Inspire®, DealerRater®, FUEL™, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.