TrueCar Shares Best End-of-Month Cash, Lease and Finance Deals on New Vehicles for January 2021
Plus Best Deals on Used Vehicle and Trade-Ins
SANTA MONICA, Calif., Jan. 21, 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 January 2021.
"New vehicle incentives tend to soften a bit going into a new year, which means it's even more important for car buyers to understand where the deals are," said Nick Woolard, Lead Analyst for TrueCar. "It's often hard to understand whether an advertised offer is a good one, and that's where TrueCar can really help cut through the noise and help consumers compare real price offers with the same money down and terms."
"On the used car front, this is the time of year when we see a lot of used cars being purchased, we're finally seeing used vehicle listing prices go down which is a good sign for consumers looking to buy used and CPO vehicles."
Best Cash, Lease and Finance Deals on New Cars
Navigating the new car incentive landscape is complex for any car buyer. TrueCar looks at deals across popular models, and at each incentive type (cash, lease, finance) and surfaces the best offer when compared with the prior month. This month we're seeing average savings of close to 7.2% off MSRP across all new models.
Cash |
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1. |
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Avg. MSRP: $58,377 |
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Avg. Paid: $54,342 |
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Avg. incentive amount: $2,530 |
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Cash incentive: the average cash offer on this vehicle is $2,256, up 66% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 4% off MSRP. |
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2. |
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Avg. MSRP: $27,437 |
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Avg. Paid: $26,086 |
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Avg. incentive amount: $1,813 |
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Cash incentive: the average cash offer on this vehicle is $1,806, up 48% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 7% off MSRP. |
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3. |
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Avg. MSRP: $35,728 |
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Avg. Paid: $30,282 |
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Avg. incentive amount: $5,598 |
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Cash incentive: the average cash offer on this vehicle is $4,650, up 20% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 16% off MSRP. |
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4. |
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Avg. MSRP: $22,500 |
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Avg. Paid: $20,533 |
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Avg. incentive amount: $2,681 |
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Cash incentive: the average cash offer on this vehicle is $2,508, up 7% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 12% off MSRP. |
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5. |
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Avg. MSRP: $27,494 |
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Avg. Paid: $23,868 |
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Avg. incentive amount: $3,905 |
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Cash incentive: the average cash offer on this vehicle is $3,641, up 4% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 14% off MSRP. |
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Lease |
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1. |
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Avg. MSRP: $29,502 |
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Avg. Paid: $27,530 |
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Avg. incentive amount: $2,658 |
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Lease incentive: the average lease offer on this vehicle is $3,493, up 30% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 9% off MSRP. |
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2. |
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Avg. MSRP: $50,058 |
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Avg. Paid: $47,254 |
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Avg. incentive amount: $2,553 |
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Lease incentive: the average lease offer on this vehicle is $6,499, up 26% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savinz |
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3. |
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Avg. MSRP: $21,140 |
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Avg. Paid: $19,576 |
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Avg. incentive amount: $2,194 |
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Lease incentive: the average lease offer on this vehicle is $3,833, up 14% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 10% off MSRP. |
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4. |
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Avg. MSRP: $32,386 |
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Avg. Paid: $30,057 |
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Avg. incentive amount: $2,059 |
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Lease incentive: the average lease offer on this vehicle is $4,215, up 7% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 6% off MSRP. |
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5. |
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Avg. MSRP: $25,275 |
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Avg. Paid: $24,498 |
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Avg. incentive amount: $2,761 |
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Lease incentive: the average lease offer on this vehicle is $3,001, up 4% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 11% off MSRP. |
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Finance |
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1. |
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Avg. MSRP: $49,828 |
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Avg. Paid: $44,624 |
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Avg. incentive amount: $4,574 |
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Finance incentive: the average finance offer on this vehicle is $8,513, up 51% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 9% off MSRP. |
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2. |
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Avg. MSRP: $31,382 |
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Avg. Paid: $26,921 |
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Avg. incentive amount: $5,264 |
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Finance incentive: the average finance offer on this vehicle is $8,160, up 47% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 17% off MSRP. |
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3. |
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Avg. MSRP: $24,033 |
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Avg. Paid: $22,790 |
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Avg. incentive amount: $1,994 |
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Finance incentive: the average finance offer on this vehicle is $1,754, up 42% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 8% off MSRP. |
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4. |
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Avg. MSRP: $36,528 |
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Avg. Paid: $33,641 |
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Avg. incentive amount: $2,743 |
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Finance incentive: the average finance offer on this vehicle is $5,538, up 38% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 8% off MSRP. |
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5. |
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Avg. MSRP: $42,569 |
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Avg. Paid: $39,005 |
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Avg. incentive amount: $2,983 |
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Finance incentive: the average finance offer on this vehicle is $3,748, up 29% from last month. |
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Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 7% off MSRP. |
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Visit the TrueCar Blog for vehicle descriptions and photos.
Pricing and savings information is based on transaction data available to TrueCar as of 1/19/2021. 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
TrueCar looks at popular used vehicles at a model level and curates those that show a significant month-over-month drop in the list price. With the average month-over-month used vehicle listing price change at -3.1%, a larger drop in listing price signals that it's a good deal.
Brand and Model |
Segment |
MoM |
Mainstream Cars |
-5.6% |
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Mainstream Utility |
-5.0% |
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Mainstream Cars |
-4.7% |
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Mainstream Cars |
-4.6% |
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Luxury Cars |
-4.6% |
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Mainstream Cars |
-4.5% |
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Mainstream Cars |
-4.4% |
|
Electric |
-4.4% |
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Mainstream Cars |
-4.3% |
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Electric |
-4.3% |
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Mainstream Cars |
-4.3% |
|
Electric |
-4.3% |
|
Electric |
-4.2% |
|
Mainstream Utility |
-4.2% |
|
Mainstream Cars |
-4.2% |
Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 1/15/2021 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
TrueCar highlights popular used vehicles 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 |
Ford Super Duty F-450 Chassis Cab |
Pickups |
-0.2% |
Ram ProMaster Cargo Van |
Commercial Vans |
-0.6% |
Ford Transit Cargo Van |
Commercial Vans |
-0.8% |
Porsche 911 |
Luxury Cars |
-0.8% |
Ford Econoline Cargo Van |
Commercial Vans |
-1.2% |
BMW X7 |
Luxury Utility |
-1.3% |
Chevrolet Express Cargo Van |
Commercial Vans |
-1.4% |
Porsche Boxster |
Luxury Cars |
-1.5% |
Maserati GranTurismo |
Luxury Cars |
-1.5% |
Tesla Model X |
Electric |
-1.5% |
Mercedes-Benz Sprinter Cargo Van |
Commercial Vans |
-1.5% |
Nissan NV200 Compact Cargo |
Commercial Vans |
-1.5% |
Honda Element |
Mainstream Utility |
-1.6% |
Ford Super Duty F-350 |
Pickups |
-1.6% |
Ford Transit Passenger Wagon |
Commercial Vans |
-1.6% |
Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 1/15/2021 compared to the prior month. Individual vehicle price changes may vary based on a variety of factors, including location, individual vehicle attributes and dealer.
If you're active duty military, a veteran or a family member of one, visit TrueCar Military at truecar.com/military for our Military Appreciation Package.
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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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