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

Rhea-AI Summary

On August 23, 2021, TrueCar (NASDAQ: TRUE) released its list of the best cash, lease, and finance deals for new vehicles in August. The report highlights a continuing decline in average incentive spending across the automotive industry due to low inventory stemming from microchip shortages. TrueCar's analysis reveals that almost 90% of car models have lower cash incentives than in August 2020, with luxury vehicles and pickups facing smaller reductions. The company suggests savvy consumers can find significant savings by leveraging their data-driven assessments.

Positive

• TrueCar reports that the average cash offer on the Chevrolet Bolt EV is $5,000, representing a 14% discount off MSRP.
• The Jeep Renegade has an average cash offer of $3,685, equating to 12% savings off MSRP.
• The RAM 1500 Classic offers an average cash savings of $4,462, approximately 10% off MSRP.

Negative

• Average incentives across the industry are declining, indicating potential challenges in consumer affordability.
• The automotive industry is struggling with low inventory levels due to ongoing microchip shortages.

SANTA MONICA, Calif., Aug. 23, 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 August 2021.

"We're seeing a continuation of the downward trend in average incentive spend across the industry. This stems from historically low inventory related to the global shortage in microchips," said Nick Woolard, Lead Industry Analyst for TrueCar. "So far in August almost 90% of models have lower cash incentives than August of 2020. However, the lower incentives aren't impacting every segment equally with luxury cars and pickups seeing smaller reductions in incentives than other segments," 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.		Chevrolet Bolt EV (Electric)
		Avg. MSRP: $36,896
		Avg. Paid: $33,354
		Why this is a good deal: The average cash offer on this vehicle is $5,000 representing savings of 14% off MSRP.
2.		Jeep Renegade (Micro Utility)
		Avg. MSRP: $29,502
		Avg. Paid: $27,549
		Why this is a good deal: The average cash offer on this vehicle is $3,685 representing savings of 12% off MSRP.
3.		RAM 1500 Classic (Fullsize Pickup)
		Avg. MSRP: $42,611
		Avg. Paid: $39,246
		Why this is a good deal: The average cash offer on this vehicle is $4,462 representing savings of 10% off MSRP.
4.		Buick Enclave (Midsize Utility)
		Avg. MSRP: $51,376
		Avg. Paid: $44,921
		Why this is a good deal: The average cash offer on this vehicle is $5,239 representing savings of 10% off MSRP.
5.		GMC Terrain (Compact Utility)
		Avg. MSRP: $35,261
		Avg. Paid: $31,658
		Why this is a good deal: The average cash offer on this vehicle is $3,072 representing savings of 9% off MSRP.
Lease
1.		Lexus ES 350 (Prem Midsize)
		Avg. MSRP: $48,314
		Avg. Paid: $45,804
		Why this is a good deal: The average lease offer on this vehicle is $6,699 representing savings of 14% off MSRP.
2.		Jeep Wrangler Unlimited (Compact Utility)
		Avg. MSRP: $51,708
		Avg. Paid: $48,869
		Why this is a good deal: The average lease offer on this vehicle is $2,837 representing savings of 5% off MSRP.
3.		Kia Forte (Compact Car)
		Avg. MSRP: $21,718
		Avg. Paid: $19,409
		Why this is a good deal: The average lease offer on this vehicle is $3,538 representing savings of 16% off MSRP.
4.		Jeep Grand Cherokee (Midsize Utility)
		Avg. MSRP: $48,709
		Avg. Paid: $46,266
		Why this is a good deal: The average lease offer on this vehicle is $6,884 representing savings of 14% off MSRP.
5.		Hyundai Elantra (Compact Car)
		Avg. MSRP: $23,745
		Avg. Paid: $22,531
		Why this is a good deal: The average lease offer on this vehicle is $3,485 representing savings of 15% off MSRP.
Finance
1.		Nissan Murano (Midsize Utility)
		Avg. MSRP: $42,257
		Avg. Paid: $37,822
		Why this is a good deal: The average finance offer on this vehicle is $6,424 representing savings of 15% off MSRP.
2.		Dodge Charger (Fullsize Car)
		Avg. MSRP: $44,068
		Avg. Paid: $41,290
		Why this is a good deal: The average finance offer on this vehicle is $5,949 representing savings of 14% off MSRP.
3.		Hyundai Sonata (Midsize Car)
		Avg. MSRP: $30,186
		Avg. Paid: $28,397
		Why this is a good deal: The average finance offer on this vehicle is $3,317 representing savings of 11% off MSRP.
4.		Nissan Pathfinder (Midsize Utility)
		Avg. MSRP: $44,537
		Avg. Paid: $41,067
		Why this is a good deal: The average finance offer on this vehicle is $3,571 representing savings of 8% off MSRP.
5.		Honda HR-V (Subcompact Utility)
		Avg. MSRP: $25,447
		Avg. Paid: $23,343
		Why this is a good deal: The average finance offer on this vehicle is $2,164 representing savings of 9% 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 8/17/2021. 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 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, Navy Federal Credit Union 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.

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SOURCE TrueCar, Inc.

FAQ

What is TrueCar's report about for August 2021?

TrueCar's report highlights the best cash, lease, and finance deals on new vehicles for August 2021.

What trend is TrueCar observing in average incentives?

TrueCar observes a continuing downward trend in average incentives due to low inventory from microchip shortages.

How much can consumers save on the Chevrolet Bolt EV according to TrueCar?

Consumers can save approximately $5,000 on the Chevrolet Bolt EV, which is about 14% off MSRP.

What percentage of car models have lower cash incentives than in August 2020?

Almost 90% of car models have lower cash incentives compared to August 2020.

What does TrueCar recommend to consumers?

TrueCar suggests that consumers leverage their list of deals to identify savings opportunities in the current market.