TrueCar Shares Best End-of-Month Cash, Lease and Finance Deals on New Vehicles for September

Rhea-AI Summary

TrueCar, Inc. (NASDAQ: TRUE) announced its best end-of-month deals for September 2020, highlighting cash, lease, and finance incentives for various new and used vehicles. Inventory challenges persist due to production delays, but buyers can find average savings of 8% off MSRP for new models. Notable cash incentives include $19,018 on the Chevrolet Bolt and $8,532 on the Ford Expedition. Used vehicles show a month-over-month drop in list prices, with the Chevrolet Bolt and Nissan LEAF down 5.5% and 4.4%, respectively. TrueCar emphasizes the importance of flexibility in vehicle choices.

Positive

• Average savings of 8% off MSRP across new models.
• Incentives for models like Chevrolet Bolt increased by 25%, offering cash incentives up to $11,088.
• Significant cash offers on popular models providing substantial savings for buyers.

Negative

• Production delays continue to affect inventory availability.
• Challenges in securing certain vehicle models due to ongoing supply chain issues.

Plus Best Deals on Used Vehicle and Trade-Ins

SANTA MONICA, Calif., Sept. 29, 2020 (GLOBE NEWSWIRE) -- 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 September 2020.

“Inventory availability on popular models continues to be a challenge this month and likely through the end of the year due to production pauses a few months ago, so consumers looking for the best deals will likely need to be flexible in their trim and model choices,” said Nick Woolard, Director of OEM Analytics.

“Now is also a good time to find a deal on the outgoing 2020 model year vehicles,” added Woolard. “Automakers typically begin introducing their new model year in the spring and summer and start discounting the outgoing model. This year there have been delays introducing the new models which means many of the 2021 model year vehicles are just starting to hit the market.”

Best Cash, Lease and Finance Deals on New Cars
Navigating the new car incentive landscape is complex for any car buyer. We look at deals across popular models, and at each incentive type (cash, lease, finance) and surface the best offer when compared with the prior month. This month we’re seeing average savings of close to 8% off MSRP across all new models.

Cash

1. Chevrolet Bolt (Electric)
   Avg. incentive amount: $19,018
   Cash incentive: the average cash offer on this vehicle is $11,088, up 25% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 46% average savings off MSRP.
   
   
2. Ford Expedition (Fullsize utility)
   Avg. incentive amount: $8,532
   Cash incentive: the avg. cash offer on this vehicle is $7,158, up 44% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 13% average savings off MSRP.
   
   
3. Lexus ES350 (Premium Midsize)
   Avg. incentive amount: $8,048
   Cash incentive: the average cash offer on this vehicle is $4,500, up 27% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 17% average savings off MSRP.
   
   
4. GMC Acadia (Midsize Utility)
   Avg. incentive amount: $4,949
   Cash incentive: the average cash offer on this vehicle is $3,956, up 28% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents an 11% average savings off MSRP.
   
   
5. Buick Enclave (Midsize Utility)
   Avg. incentive amount: $4,359
   Cash incentive: the average cash offer on this vehicle is $4,146, up 47% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 9% average savings off MSRP.

Lease

1. Ford Mustang (Sport)
   Avg. incentive amount: $2,834
   Lease incentive: the average lease offer on this vehicle is $5,505, up 6% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 6% average savings off MSRP.
   
   
2. Subaru Forester (Compact Utility)
   Avg. incentive amount: $2,596
   Lease incentive: the average lease offer on this vehicle is $2,335, up 2% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 9% average savings off MSRP.
   
   
3. BMW X5 (Premium Midsize)
   Avg. incentive amount: $7,681
   Lease incentive: the average lease offer on this vehicle is $9,191, up 4% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents an 11% average savings off MSRP.
   
   
4. Toyota Tacoma (Midsize Pickup)
   Avg. incentive amount: $2,336
   Lease incentive: the average lease offer on this vehicle is $4,994, up 7% from last month.
   Why is this a good deal: The average incentive across cash, lease and finance represents a 7% average savings off MSRP.
   
   
5. Chevrolet Colorado (Midsize Pickup)
   Avg. incentive amount: $2,952
   Lease incentive: the average lease offer on this vehicle is $5,540, up 22% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents an 8% average savings off MSRP.

Finance

1. Mazda CX-5 (Compact SUV)
   Avg. incentive amount: $3,508
   Finance incentive: the average finance offer on this vehicle is $4,563, up 22% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents an 11% average savings off MSRP.
   
   
2. Jeep Renegade (Micro Utility)
   Avg. incentive amount: $5,992
   Finance incentive: the average finance offer on this vehicle is $5,095, up 2% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 21% average savings off MSRP.
   
   
3. Toyota 4Runner (Midsize Utility)
   Avg. incentive amount: $1,345
   Finance incentive: the average finance offer on this vehicle is $2,241, up 39% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 3% average savings off MSRP. This model rarely sees significant incentive offers.
   
   
4. Toyota Tundra (Micro Utility)
   Avg. incentive amount: $4,479
   Finance incentive: the average finance offer on this vehicle is $7,766, up 54% from last month
   Why is this a good deal: The average incentive across cash, lease and finance represents a 10% average savings 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 9/21/2020. 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.}

Best Deals on Used Vehicles
We looked at popular used vehicles at a model level and curated those that have experienced a significant month-over-month drop in the list price indicating a good deal.

Brand and Model	Segment	MoM Drop in List Price
Chevrolet Bolt EV	Electric	-5.5%
Nissan LEAF	Electric	-4.4%
Chevrolet Volt	Mainstream Car	-4.3%
Ford C-Max	Mainstream Car	-3.7%
Toyota Corolla	Mainstream Car	-3.6%
Toyota Prius	Mainstream Car	-3.5%
Chevrolet Express Passenger	Commercial Vans	-3.3%
Dodge Journey	Mainstream Utility	-3.3%
Hyundai Santa Fe	Mainstream Utility	-3.2%
Mitsubishi Outlander	Mainstream Utility	-3.2%
Chevrolet Trax	Mainstream Utility	-3.2%
Ford Fiesta	Mainstream Cars	-3.2%
Dodge Grand Caravan	Mainstream Utility	-3.2%
Chevrolet Malibu	Mainstream Car	-3.1%
Honda Fit	Mainstream Car	-3.1%

^{Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 9/20/2020 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
Below, we highlight popular used models 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 Drop in List Price
Chevrolet Silverado 2500HD	Pickups	-0.7%
Ford Super Duty F-350	Pickups	-0.7%
Ram 2500	Pickups	-0.8%
Ford Super Duty F-250	Pickups	-1.0%
Nissan Titan	Pickups	-1.2%
Nissan Frontier	Pickups	-1.3%
Volvo XC90	Luxury Utility	-1.4%
Ram 1500	Pickups	-1.4%
Mercedes-Benz S-Class	Luxury Cars	-1.5%
Mercedes-Benz C-Class	Luxury Cars	-1.5%
BMW 3 Series	Luxury Cars	-1.5%
GMC Sierra 1500	Pickups	-1.6%
Toyota Tundra	Pickups	-1.6%
BMW X5	Luxury Utility	-1.6%
Mercedes-Benz GLC	Luxury Utility	-1.6%

^{Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 9/20/2020 compared to the prior month. Individual vehicle list price changes may vary based on a variety of factors, including location, individual vehicle attributes and dealer. Changes in used vehicle list prices are assumed to be correlated with corresponding changes in trade-in value, but this correlation between list prices and trade-in values may not exist for the identified models or may not be experienced to the same degree.}

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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: pr@truecar.com

 

FAQ

What are the best end-of-month deals offered by TrueCar for September 2020?

TrueCar offers an average of 8% savings off MSRP on new vehicles with notable cash incentives on models like the Chevrolet Bolt and Ford Expedition.

What cash incentives are available on new vehicles from TrueCar in September 2020?

The cash incentive for the Chevrolet Bolt averages $11,088, while the Ford Expedition offers an average cash incentive of $7,158.

How have used vehicle prices changed according to TrueCar's September 2020 report?

TrueCar reported significant month-over-month drops in list prices for several used vehicles, including a 5.5% decrease for the Chevrolet Bolt.

What challenges does TrueCar highlight regarding vehicle inventory?

TrueCar indicates ongoing inventory challenges due to production pauses and supply chain issues affecting popular vehicle models.

What should consumers consider when looking for deals according to TrueCar's September announcement?

Consumers are advised to remain flexible in their vehicle trim and model choices due to limited inventory availability.