TrueCar Shares Best Cash, Lease and Finance Deals on New Vehicles for May 2021

Rhea-AI Summary

TrueCar, Inc. (NASDAQ: TRUE) has released its top cash, lease, and finance deals for May 2021, highlighting the impact of a global microchip shortage on vehicle supply. Despite strong demand for vehicles leading to minimal incentives, several models in the compact segment offer significant savings. Notable cash deals include the Chevrolet Bolt EV, with average savings of 31%. Lease and finance options also show promising offers, with the Hyundai Venue and Dodge Durango providing savings of 13% and 13% respectively. Pricing information is based on transaction data as of May 18, 2021.

Positive

• Chevrolet Bolt EV offers average savings of 31% off MSRP.
• Hyundai Venue provides average finance savings of 13% off MSRP.
• Overall compelling cash, lease, and finance deals amid a challenging market.

Negative

• Vehicle supply is severely affected by the global microchip shortage.
• Incentives are at their lowest levels in years due to high demand and low supply.

SANTA MONICA, Calif., May 20, 2021 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, shares its list of best cash, lease and finance deals on new cars for May 2021.

"Vehicle supply continues to be adversely impacted by the global microchip shortage and consumers are increasingly finding that it is a seller's market. The combination of strong vehicle demand and short supply are conspiring to drive incentives to the lowest levels in years. However there are plenty of models that buck this trend, primarily in the compact segments," said Nick Woolard, Lead Industry Analyst for TrueCar.

TrueCar's list of best cash, lease and finance deals can help consumers cut through the noise and identify some of the best opportunities for savings in the market right now.  

Best Cash, Lease and Finance Deals on New Cars
TrueCar takes a data-driven approach to deals, assessing deals across popular models, and at each incentive type (cash, lease, finance), and comparing these offers to the prior month and prior six months to surface the best monthly offers. 

Cash
1.		Chevrolet Traverse (Midsize Utility)
		Avg. MSRP: $42,002
		Avg. Paid: $40,090
		Why this is a good deal:  The average cash offer on this vehicle is $4,345, up 1% from last month and represents savings of 10% off MSRP.
2.		Chevrolet Bolt EV (Electric)
		Avg. MSRP: $41,164
		Avg. Paid: $32,221
		Why this is a good deal:  The average cash offer on this vehicle is $12,683 and represents savings of 31% off MSRP.
3.		Chevrolet Equinox (Compact Utility)
		Avg. MSRP: $31,476
		Avg. Paid: $30,028
		Why this is a good deal:  The average cash offer on this vehicle is $4,517 and represents savings of 14% off MSRP.
4.		Jeep Renegade (Micro Utility)
		Avg. MSRP: $28,877
		Avg. Paid: $26,294
		Why this is a good deal:  The average cash offer on this vehicle is $3,893 and represents savings of 13% off MSRP.
5.		Hyundai Kona (Micro Utility)
		Avg. MSRP: $28,228
		Avg. Paid: $25,164
		Why this is a good deal:  The average cash offer on this vehicle is $3,034 and represents savings of 11% off MSRP.
Lease
1.		Subaru Crosstrek (Subcompact Utility)
		Avg. MSRP: $29,945
		Avg. Paid: $27,181
		Why this is a good deal:  The average lease offer on this vehicle is $2,248, up 18% from last month and represents savings of 8% off MSRP.
2.		Chevrolet Blazer (Midsize Utility)
		Avg. MSRP: $42,389
		Avg. Paid: $40,211
		Why this is a good deal:  The average lease offer on this vehicle is $6,057, up 9% from last month and represents savings of 14% off MSRP.
3.		Chevrolet Trax (Micro Utility)
		Avg. MSRP: $24,488
		Avg. Paid: $23,626
		Why this is a good deal:  The average lease offer on this vehicle is $6,280, up 9% from last month and represents savings of 26% off MSRP.
4.		Volkswagen Jetta (Compact Car)
		Avg. MSRP: $24,810
		Avg. Paid: $23,622
		Why this is a good deal:  The average lease offer on this vehicle is $2,234, up 8% from last month and represents savings of 9% off MSRP.
5.		Nissan Sentra (Compact Car)
		Avg. MSRP: $22,800
		Avg. Paid: $21,453
		Why this is a good deal:  The average lease offer on this vehicle is $2,702, up 7% from last month and represents savings of 12% off MSRP.
Finance
1.		Hyundai Venue (Micro Utility)
		Avg. MSRP: $22,078
		Avg. Paid: $20,556
		Why this is a good deal:  The average finance offer on this vehicle is $2,837, up 18% from last month and represents savings of 13% off MSRP.
2.		Dodge Durango (Midsize Utility)
		Avg. MSRP: $50,450
		Avg. Paid: $47,167
		Why this is a good deal:  The average finance offer on this vehicle is $6,771, up 14% from last month and represents savings of 13% off MSRP.
3.		GMC Terrain (Compact Utility)
		Avg. MSRP: $34,837
		Avg. Paid: $29,688
		Why this is a good deal:  The average finance offer on this vehicle is $5,076, up 13% from last month and represents savings of 15% off MSRP.
4.		Kia Sorento (Midsize Utility)
		Avg. MSRP: $38,777
		Avg. Paid: $36,574
		Why this is a good deal:  The average finance offer on this vehicle is $2,355, up 7% from last month and represents savings of 6% off MSRP.
5.		Hyundai Elantra (Compact Car)
		Avg. MSRP: $23,438
		Avg. Paid: $21,739
		Why this is a good deal:  The average finance offer on this vehicle is $3,079, up 4% from last month and represents savings of 13% off MSRP.

Visit the TrueCar Blog for vehicle descriptions and photos.

Pricing and savings information is based on transaction data available to TrueCar as of 5/18/2021. 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 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.

If you're active duty military, veteran or a family member of one, visit TrueCar Military at truecar.com/military for our Military Appreciation Package.

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 an office in Austin, Texas.

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: pr@truecar.com

 

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SOURCE TrueCar, Inc.

FAQ

What are the best cash deals for May 2021 from TrueCar?

TrueCar's best cash deals include the Chevrolet Bolt EV with 31% savings and the Chevrolet Traverse with 10% savings.

Which vehicles have the best lease deals from TrueCar for May 2021?

Top lease deals feature the Subaru Crosstrek with 8% savings and the Chevrolet Trax with 26% savings.

What finance deals does TrueCar offer in May 2021?

Finance options include the Dodge Durango with 13% savings and the Hyundai Elantra with 13% savings.

How does the microchip shortage affect TrueCar's deals?

The global microchip shortage has limited vehicle supply, resulting in lower incentives and creating a seller's market.

What date is TrueCar's pricing information based on for May 2021?

The pricing and savings information is based on transaction data available as of May 18, 2021.