TrueCar Shares Best End-of-Month Cash, Lease and Finance Deals on New Vehicles for February 2021
SANTA MONICA, Calif., Feb. 18, 2021 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, today announced its list of the best end-of-month deals on new and used vehicle purchases and trade-in values for February 2021.
"Used vehicle sales tend to peak this time of year versus new car sales which usually peak in December when big end-of-year discounts entice consumers to dealership lots," said Nick Woolard, Lead Industry Analyst at TrueCar. "This year popular used vehicles will likely still fetch a premium price as new vehicle inventory challenges continue, resulting in about a 10% increase in used vehicle list prices when compared with last year."
"On the flip side, that means you can still get some of the highest values on your trade-in, particularly if you own a three to four-year-old, low mileage truck or SUV that can be used toward the purchase of your new vehicle."
"If you're looking for a unicorn new car deal, start with the remaining 2020 models still in inventory. While 2020 model year vehicles are scarce and only make up about 20% of all new inventory, if you find one on the lot that meets your needs you'll want to move quickly before another buyer gets to it," added Woolard.
Best Cash, Lease and Finance Deals on New Cars
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 and to its recent price trend. This month we're seeing average savings of approximately 7% off MSRP across all new models.
Cash | ||
1. | ||
Avg. MSRP: $27,204 | ||
Avg. Paid: $25,163 | ||
Why this is a good deal: The average cash offer on this vehicle is $2,610, | ||
2. | ||
Avg. MSRP: $41,843 | ||
Avg. Paid: $38,262 | ||
Why this is a good deal: The average cash offer on this vehicle is $3,356, | ||
3. | ||
Avg. MSRP: $34,600 | ||
Avg. Paid: $31,230 | ||
Why this is a good deal: The average cash offer on this vehicle is $4,765, | ||
4. | ||
Avg. MSRP: $45,180 | ||
Avg. Paid: $41,060 | ||
Why this is a good deal: The average cash offer on this vehicle is $3,321, | ||
5. | ||
Avg. MSRP: $35,409 | ||
Avg. Paid: $30,569 | ||
Why this is a good deal: The average cash offer on this vehicle is $5,548, | ||
Lease | ||
1. | ||
Avg. MSRP: $32,418 | ||
Avg. Paid: $29,537 | ||
Why this is a good deal: The average lease offer on this vehicle is $3,051, | ||
2. | ||
Avg. MSRP: $22,481 | ||
Avg. Paid: $21,161 | ||
Why this is a good deal: The average lease offer on this vehicle is $3,080, | ||
3. | ||
Avg. MSRP: $29,928 | ||
Avg. Paid: $28,250 | ||
Why this is a good deal: The average lease offer on this vehicle is $3,631, | ||
4. | ||
Avg. MSRP: $37,484 | ||
Avg. Paid: $35,370 | ||
Why this is a good deal: The average lease offer on this vehicle is $5,725, | ||
5. | ||
Avg. MSRP: $23,224 | ||
Avg. Paid: $21,245 | ||
Why this is a good deal: The average lease offer on this vehicle is $3,887, Comparing lease offers? Discover what other consumers are paying monthly | ||
Finance | ||
1. | ||
Avg. MSRP: $56,869 | ||
Avg. Paid: $50,867 | ||
Why this is a good deal: The average finance offer on this vehicle is $8,905, | ||
2. | ||
Avg. MSRP: $29,327 | ||
Avg. Paid: $27,042 | ||
Why this is a good deal: The average finance offer on this vehicle is $1,792, | ||
3. | ||
Avg. MSRP: $31,370 | ||
Avg. Paid: $27,947 | ||
Why this is a good deal: The average finance offer on this vehicle is $6,036, | ||
4. | ||
Avg. MSRP: $46,193 | ||
Avg. Paid: $42,786 | ||
Why this is a good deal: The average finance offer on this vehicle is $5,924, | ||
5. | ||
Avg. MSRP: $25,252 | ||
Avg. Paid: $24,261 | ||
Why this is a good deal: The average finance offer on this vehicle is $2,656, | ||
Visit the TrueCar Blog for vehicle descriptions and photos.
Pricing and savings information is based on transaction data available to TrueCar as of 2/15/2021. 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
We looked at popular used vehicles at a model level and curated those that have experienced a significant month-over-month drop in the list price indicating a good deal.
Brand and Model | Segment | MoM |
Mainstream Cars | -5.6% | |
Electric | -5.0% | |
Microcar | -4.7% | |
Subcompact Utility | -4.6% | |
Electric | -4.6% | |
Compact | -4.5% | |
Electric | -4.4% | |
Mainstream Cars | -4.4% | |
Luxury Cars | -4.3% | |
Electric | -4.3% | |
Mainstream Cars | -4.3% | |
Compact | -4.3% | |
Luxury Cars | -4.2% | |
Mainstream Cars | -4.2% | |
Mainstream Utility | -4.2% |
Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 2/15/2021 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 biggest increase 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 |
Chevrolet Express Passenger | Commercial Vans | -0.2% |
Chevrolet Express Cargo Van | Commercial Vans | -0.6% |
Porsche 911 | Luxury Cars | -0.8% |
BMW M5 | Luxury Cars | -0.8% |
Nissan NV200 Compact Cargo | Commercial Vans | -1.2% |
Mercedes-Benz Sprinter Cargo Van | Commercial Vans | -1.3% |
Mitsubishi Outlander | Mainstream Utility | -1.4% |
Lexus LX | Luxury Utility | -1.5% |
Chevrolet Corvette | Prem Performance | -1.5% |
Ford Super Duty F-550 | Pickups | -1.5% |
Ram 2500 | Pickups | -1.5% |
Chevrolet Silverado 2500HD | Pickups | -1.5% |
Mercedes-Benz CLK | Prem Fullsize | -1.6% |
Ford Transit Passenger Wagon | Commercial Vans | -1.6% |
Ford Super Duty F-350 | Pickups | -1.6% |
Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 2/15/2021 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: [email protected]
TrueCar Contacts:
Shadee Malekafzali
Senior Director, Public Relations
[email protected]
424-258-8694
SOURCE TrueCar, Inc.
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