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

Rhea-AI Summary

TrueCar, Inc. (NASDAQ: TRUE) recently announced its best cash, lease, and finance deals on new vehicles for October 2021. Despite the ongoing microchip shortage affecting the automotive industry, TrueCar highlights opportunities for savings. The average cash offers on models, such as the Jeep Renegade and Chevrolet Equinox, demonstrate savings of up to 10% off MSRP. TrueCar's data-driven approach ensures consumers can identify competitive deals amidst reduced overall incentive spending.

Positive

• Highlighted significant savings on new vehicles, e.g., Jeep Renegade offers 10% savings off MSRP.
• Data-driven analysis identifies competitive cash, lease, and finance deals during a challenging market.

Negative

• Overall incentive spending among automakers has been cut nearly in half due to the microchip shortage.
• The ongoing microchip shortage continues to impact vehicle inventory levels negatively.

SANTA MONICA, Calif., Oct. 21, 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 October 2021.

"While the broader industry is seeing the lowest inventory levels in years, the underlying issue of the microchip shortage is impacting the various automakers in different ways and at different times," said Nick Woolard, Lead Industry Analyst at TrueCar. "In terms of deals, that means that while overall incentive spending has basically been cut in half, there are still models that buck the trend to show strong savings potential. As we enter Q4 many automakers are looking to recoup lost production and sales volume and the potential for savings remains," added Woolard.

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.		Jeep Renegade (Micro Utility)
		Avg. MSRP: $29,377
		Avg. Paid: $27,526
		Why this is a good deal:  The average cash offer on this vehicle is $2,835 representing savings of 10% off MSRP.
2.		Chevrolet Equinox (Compact Utility)
		Avg. MSRP: $31,926
		Avg. Paid: $28,551
		Why this is a good deal:  The average cash offer on this vehicle is $2,845 representing savings of 9% off MSRP.
3.		Buick Enclave (Midsize Utility)
		Avg. MSRP: $51,268
		Avg. Paid: $45,771
		Why this is a good deal:  The average cash offer on this vehicle is $4,112 representing savings of 8% off MSRP.
4.		Toyota Prius Prime (Compact Car)
		Avg. MSRP: $32,776
		Avg. Paid: $30,717
		Why this is a good deal:  The average cash offer on this vehicle is $1,844 representing savings of 6% off MSRP.
5.		Dodge Durango (Midsize Utility)
		Avg. MSRP: $50,452
		Avg. Paid: $47,211
		Why this is a good deal:  The average cash offer on this vehicle is $2,636 representing savings of 5% off MSRP.
Lease
1.		Lincoln Corsair (Luxury Utility)
		Avg. MSRP: $46,910
		Avg. Paid: $43,244
		Why this is a good deal:  The average lease offer on this vehicle is $11,376 representing savings of 24% off MSRP.
2.		Kia Forte (Compact Car)
		Avg. MSRP: $22,275
		Avg. Paid: $20,183
		Why this is a good deal:  The average lease offer on this vehicle is $3,904 representing savings of 18% off MSRP.
3.		Nissan Altima (Midsize Car)
		Avg. MSRP: $30,038
		Avg. Paid: $28,121
		Why this is a good deal:  The average lease offer on this vehicle is $5,217 representing savings of 17% off MSRP.
4.		Ford Explorer (Midsize Utility)
		Avg. MSRP: $47,650
		Avg. Paid: $44,445
		Why this is a good deal:  The average lease offer on this vehicle is $6,345 representing savings of 13% off MSRP.
5.		Nissan Murano (Midsize Utility)
		Avg. MSRP: $43,200
		Avg. Paid: $39,464
		Why this is a good deal:  The average lease offer on this vehicle is $5,735 representing savings of 13% off MSRP.
Finance
1.		Dodge Charger (Fullsize Car)
		Avg. MSRP: $43,528
		Avg. Paid: $40,777
		Why this is a good deal:  The average finance offer on this vehicle is $6,285 representing savings of 14% off MSRP.
2.		Dodge Challenger (Sporty)
		Avg. MSRP: $44,176
		Avg. Paid: $41,264
		Why this is a good deal:  The average finance offer on this vehicle is $6,003 representing savings of 14% off MSRP.
3.		Ford F-150 (Fullsize Pickup)
		Avg. MSRP: $57,299
		Avg. Paid: $50,901
		Why this is a good deal:  The average finance offer on this vehicle is $7,342 representing savings of 13% off MSRP.
4.		Chevrolet Traverse (Midsize Utility)
		Avg. MSRP: $42,431
		Avg. Paid: $39,619
		Why this is a good deal:  The average finance offer on this vehicle is $5,220 representing savings of 12% off MSRP.
5.		Jeep Grand Cherokee (Midsize Utility)
		Avg. MSRP: $50,113
		Avg. Paid: $47,798
		Why this is a good deal:  The average finance offer on this vehicle is $5,993 representing savings of 12% 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 10/18/2021. 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 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.

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 auto buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient auto 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 auto buying experience. As part of our marketplace, TrueCar powers auto-buying programs for over 250 leading brands, including AARP, Sam's Club, Navy Federal Credit Union and American Express. 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.

 

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SOURCE TrueCar, Inc.

FAQ

What are the best cash deals on new cars from TrueCar for October 2021?

TrueCar lists models like Jeep Renegade with savings of 10% off MSRP.

How does the microchip shortage affect TrueCar's offerings?

The microchip shortage has led to reduced inventory and a significant drop in overall incentive spending.

What percentage savings can consumers expect on leases through TrueCar?

TrueCar highlights leases with savings of up to 24% off MSRP, such as for the Lincoln Corsair.

When was TrueCar's announcement regarding the best finance deals made?

TrueCar made the announcement on October 21, 2021.

What is TrueCar's approach to analyzing vehicle deals?

TrueCar uses a data-driven approach to assess and compare offers on popular models.