TrueCar Shares Best End-of-Month Cash, Lease and Finance Deals on New Vehicles for February 2021

Rhea-AI Summary

TrueCar, Inc. announces its list of best end-of-month deals on new and used vehicles for February 2021. Used vehicle prices are projected to increase by about 10% compared to last year due to ongoing inventory challenges. Popular models include various cash, lease, and finance deals, showcasing average savings of approximately 7% off MSRP across new models. Trade-in values for low-mileage trucks and SUVs remain high. The company emphasizes the importance of acting quickly for remaining 2020 models as inventory is limited.

Positive

• Average savings of approximately 7% off MSRP across all new models.
• Significant trade-in values for three to four-year-old low mileage trucks and SUVs.
• Best cash deals include Chevrolet TrailBlazer, offering 10% savings off MSRP.

Negative

• Used vehicle prices expected to increase by about 10% compared to last year.
• Only 20% of new inventory consists of 2020 models, indicating scarcity.

SANTA MONICA, Calif., Feb. 18, 2021 /PRNewswire/ -- 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 February 2021.

"Used vehicle sales tend to peak this time of year versus new car sales which usually peak in December when big end-of-year discounts entice consumers to dealership lots," said Nick Woolard, Lead Industry Analyst at TrueCar. "This year popular used vehicles will likely still fetch a premium price as new vehicle inventory challenges continue, resulting in about a 10% increase in used vehicle list prices when compared with last year."

"On the flip side, that means you can still get some of the highest values on your trade-in, particularly if you own a three to four-year-old, low mileage truck or SUV that can be used toward the purchase of your new vehicle."

"If you're looking for a unicorn new car deal, start with the remaining 2020 models still in inventory. While 2020 model year vehicles are scarce and only make up about 20% of all new inventory, if you find one on the lot that meets your needs you'll want to move quickly before another buyer gets to it," added Woolard.

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 and to its recent price trend.  This month we're seeing average savings of approximately 7% off MSRP across all new models.

Cash
1.		Chevrolet TrailBlazer (Midsize Utility)
		Avg. MSRP: $27,204
		Avg. Paid: $25,163
		Why this is a good deal:  The average cash offer on this vehicle is $2,610, up 32% from last month and represents savings of 10% off MSRP.
2.		Chevrolet Blazer (Midsize Utility)
		Avg. MSRP: $41,843
		Avg. Paid: $38,262
		Why this is a good deal:  The average cash offer on this vehicle is $3,356, up 26% from last month and represents savings of 8% off MSRP.
3.		Jeep Cherokee (Midsize Utility)
		Avg. MSRP: $34,600
		Avg. Paid: $31,230
		Why this is a good deal:  The average cash offer on this vehicle is $4,765, up 13% from last month and represents savings of 14% off MSRP.
4.		Ford Mustang (Sporty)
		Avg. MSRP: $45,180
		Avg. Paid: $41,060
		Why this is a good deal:  The average cash offer on this vehicle is $3,321, up 12% from last month and represents savings of 7% off MSRP.
5.		GMC Terrain (Compact Utility)
		Avg. MSRP: $35,409
		Avg. Paid: $30,569
		Why this is a good deal:  The average cash offer on this vehicle is $5,548, up 11% from last month and represents savings of 16% off MSRP.
Lease
1.		Subaru Forester (Compact Utility)
		Avg. MSRP: $32,418
		Avg. Paid: $29,537
		Why this is a good deal:  The average lease offer on this vehicle is $3,051, up 21% from last month and represents savings of 9% off MSRP.
2.		Nissan Sentra (Compact Car)
		Avg. MSRP: $22,481
		Avg. Paid: $21,161
		Why this is a good deal:  The average lease offer on this vehicle is $3,080, up 11% from last month and represents savings of 14% off MSRP.
3.		Honda Accord (Midsize Car)
		Avg. MSRP: $29,928
		Avg. Paid: $28,250
		Why this is a good deal:  The average lease offer on this vehicle is $3,631, up 10% from last month and represents savings of 12% off MSRP.
4.		Kia Sorento (Midsize Utility)
		Avg. MSRP: $37,484
		Avg. Paid: $35,370
		Why this is a good deal:  The average lease offer on this vehicle is $5,725, up 6% from last month and represents savings of 15% off MSRP.
5.		Toyota Corolla (Compact Car)
		Avg. MSRP: $23,224
		Avg. Paid: $21,245
		Why this is a good deal:  The average lease offer on this vehicle is $3,887, up 5% from last month and represents savings of 17% off MSRP.     Comparing lease offers? Discover what other consumers are paying monthly for their lease here.
Finance
1.		RAM 1500 (Fullsize Pickup)
		Avg. MSRP: $56,869
		Avg. Paid: $50,867
		Why this is a good deal:  The average finance offer on this vehicle is $8,905, up 18% from last month and represents savings of 16% off MSRP.
2.		Subaru Crosstrek (Subcompact Utility)
		Avg. MSRP: $29,327
		Avg. Paid: $27,042
		Why this is a good deal:  The average finance offer on this vehicle is $1,792, up 12% from last month and represents savings of 6% off MSRP.
3.		Ford Escape (Compact Utility)
		Avg. MSRP: $31,370
		Avg. Paid: $27,947
		Why this is a good deal:  The average finance offer on this vehicle is $6,036, up 10% from last month and represents savings of 19% off MSRP.
4.		Jeep Grand Cherokee (Midsize Utility)
		Avg. MSRP: $46,193
		Avg. Paid: $42,786
		Why this is a good deal:  The average finance offer on this vehicle is $5,924, up 9% from last month and represents savings of 13% off MSRP.
5.		Honda HR-V (Subcompact Utility)
		Avg. MSRP: $25,252
		Avg. Paid: $24,261
		Why this is a good deal:  The average finance offer on this vehicle is $2,656, up 3% from last month and represents savings of 11% 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 2/15/2021. 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.

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
Chrysler PT Cruiser	Mainstream Cars	-5.6%
Honda Clarity	Electric	-5.0%
smart fortwo	Microcar	-4.7%
Mazda Mazda5	Subcompact Utility	-4.6%
Hyundai Ioniq	Electric	-4.6%
Mitsubishi Lancer	Compact	-4.5%
Nissan LEAF	Electric	-4.4%
Hyundai Accent	Mainstream Cars	-4.4%
Volvo S90	Luxury Cars	-4.3%
MINI Hardtop	Electric	-4.3%
Honda Insight	Mainstream Cars	-4.3%
Toyota Corolla iM	Compact	-4.3%
Audi A3	Luxury Cars	-4.2%
Toyota Yaris	Mainstream Cars	-4.2%
MINI Countryman	Mainstream Utility	-4.2%

Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 2/15/2021 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 Express Passenger	Commercial Vans	-0.2%
Chevrolet Express Cargo Van	Commercial Vans	-0.6%
Porsche 911	Luxury Cars	-0.8%
BMW M5	Luxury Cars	-0.8%
Nissan NV200 Compact Cargo	Commercial Vans	-1.2%
Mercedes-Benz Sprinter Cargo Van	Commercial Vans	-1.3%
Mitsubishi Outlander	Mainstream Utility	-1.4%
Lexus LX	Luxury Utility	-1.5%
Chevrolet Corvette	Prem Performance	-1.5%
Ford Super Duty F-550	Pickups	-1.5%
Ram 2500	Pickups	-1.5%
Chevrolet Silverado 2500HD	Pickups	-1.5%
Mercedes-Benz CLK	Prem Fullsize	-1.6%
Ford Transit Passenger Wagon	Commercial Vans	-1.6%
Ford Super Duty F-350	Pickups	-1.6%

Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 2/15/2021 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

TrueCar Contacts:
Shadee Malekafzali
Senior Director, Public Relations
shadee@truecar.com 
424-258-8694

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SOURCE TrueCar, Inc.

FAQ

What are the best February 2021 vehicle deals according to TrueCar?

TrueCar's February 2021 deals highlight average savings of about 7% off MSRP on new models, with specific cash offers on vehicles like the Chevrolet TrailBlazer.

How much are used vehicle prices expected to rise in February 2021?

Used vehicle prices are projected to increase by approximately 10% compared to the previous year due to inventory challenges.

What should I know about trade-in values for February 2021?

Trade-in values for three to four-year-old low mileage trucks and SUVs are particularly high this month.

What does TrueCar recommend for buying 2020 models?

TrueCar advises moving quickly on 2020 models remaining in inventory, as they make up only 20% of new vehicle stock.