It’s August, so car manufacturers and dealers are anxious to get 2019 models outa here to make room for the new 2020s. In July alone JD Power says that on average manufacturers put $4,074 on the hoods of new cars. That means August should be even better for discounts says Cars.com.
There are always a few models that are less popular. They’re slow sellers that sit on lots longer than the better sellers. The amount of time it takes to sell any vehicle is known as “days-to-turn” and the higher the number means it’s sitting longer.
Besides traditional discounts, dealers have another means to move the slow sellers: low-interest-rate financing. Obviously the lower the rate the less you pay over the long haul. Financing is offered up to 84-months these days, but that amount of time, while lessening the monthly payment, means you’re going to be paying for seven years! As much as cars change in that amount of time, and the fickleness of consumers these days, we’d stay clear of such long obligations.
From now through Labor Day here are some of the top models with heavy logjams of inventory manufacturers need to reduce:
2019 Ford F150
Ford is dealing, and depending on the model there are some handsome discounts—except for Raptors. XL and XLT trim models are seeing between $3,250 to $6,250 off, depending on the area you live in. Certain XLT models that for whatever reason have sat a bit longer than the average can see an additional $3,400 off of the top. With trucks being so hot these are huge savings.
2019 Jeep Compass
Fiat Chrysler is knocking down the prices of the Compass from $2,000 to $4.250, depending on what region you’re in. Additionally, on financing, you can do better when you do it through Fiat Chrysler. Add an additional $750 to $1,750 depending on what region you’re living in. On average the Compass sat for almost 90 days before finding a buyer.
2019 Ford EcoSport
Looking for a sub-compact SUV? For certain models, Ford is giving 20% off MSRP. In addition, Ford’s also putting almost $4,000 on the hoods of most EcoSports. If you’re financing, be aware that Ford advertises 8.9% for up to 84-months. You may want to find your own financing if Ford can’t be moved to get you a lower rate.
2019 Buick Encore
Another sub-compact SUV, but this time from Buick. The Encore is seeing a nationwide discount of 16% for all models except the base 1SV. Want even more off? Get an additional 4% cut if you trade in a 2005 or newer non-GM vehicle. With that, you would get 20% off of the sticker. Encores are seeing on average almost 100 days on lots.
Now is your time to help Mr. Dealership get rid of some slower sellers and put some cha-cha back in your wallet. These advertised discounts will last through September 3.