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

Rhea-AI Summary

TrueCar, Inc. (NASDAQ: TRUE) released its January 2021 report highlighting the best end-of-month deals for new and used vehicles. Key insights include average savings of 7.2% off MSRP for new cars, with notable cash incentives increasing up to 66% month-over-month. For used vehicles, a 3.1% average drop in listing prices is noted, indicating better deals for consumers. TrueCar emphasizes its role in helping buyers navigate the complex incentive landscape, enhancing transparency and value in car purchases.

Positive

• Average savings of 7.2% off MSRP for new vehicles.
• Notable cash incentives for various models increased significantly, with some up by 66% from the previous month.
• Indicates a drop in listing prices for used vehicles, encouraging purchasing.

Negative

• None.

SANTA MONICA, Calif., Jan. 21, 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 January 2021.

"New vehicle incentives tend to soften a bit going into a new year, which means it's even more important for car buyers to understand where the deals are," said Nick Woolard, Lead Analyst for TrueCar. "It's often hard to understand whether an advertised offer is a good one, and that's where TrueCar can really help cut through the noise and help consumers compare real price offers with the same money down and terms."

"On the used car front, this is the time of year when we see a lot of used cars being purchased, we're finally seeing used vehicle listing prices go down which is a good sign for consumers looking to buy used and CPO vehicles."

Best Cash, Lease and Finance Deals on New Cars
Navigating the new car incentive landscape is complex for any car buyer. TrueCar looks at deals across popular models, and at each incentive type (cash, lease, finance) and surfaces the best offer when compared with the prior month.  This month we're seeing average savings of close to 7.2% off MSRP across all new models.

Cash
1.		Chevrolet Silverado 2500HD (Fullsize Pickup)
		Avg. MSRP: $58,377
		Avg. Paid: $54,342
		Avg. incentive amount: $2,530
		Cash incentive: the average cash offer on this vehicle is $2,256, up 66% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 4% off MSRP.
2.		Chevrolet TrailBlazer (Midsize Utility)
		Avg. MSRP: $27,437
		Avg. Paid: $26,086
		Avg. incentive amount: $1,813
		Cash incentive: the average cash offer on this vehicle is $1,806, up 48% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 7% off MSRP.
3.		GMC Terrain (Compact Utility)
		Avg. MSRP: $35,728
		Avg. Paid: $30,282
		Avg. incentive amount: $5,598
		Cash incentive: the average cash offer on this vehicle is $4,650, up 20% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 16% off MSRP.
4.		Nissan Kicks (Micro Utility)
		Avg. MSRP: $22,500
		Avg. Paid: $20,533
		Avg. incentive amount: $2,681
		Cash incentive: the average cash offer on this vehicle is $2,508, up 7% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 12% off MSRP.
5.		Nissan Rogue Sport (Subcompact Utility)
		Avg. MSRP: $27,494
		Avg. Paid: $23,868
		Avg. incentive amount: $3,905
		Cash incentive: the average cash offer on this vehicle is $3,641, up 4% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 14% off MSRP.
Lease
1.		Honda Accord (Midsize Car)
		Avg. MSRP: $29,502
		Avg. Paid: $27,530
		Avg. incentive amount: $2,658
		Lease incentive: the average lease offer on this vehicle is $3,493, up 30% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 9% off MSRP.
2.		Jeep Gladiator (Midsize Pickup)
		Avg. MSRP: $50,058
		Avg. Paid: $47,254
		Avg. incentive amount: $2,553
		Lease incentive: the average lease offer on this vehicle is $6,499, up 26% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savinz
3.		Hyundai Venue (Micro Utility)
		Avg. MSRP: $21,140
		Avg. Paid: $19,576
		Avg. incentive amount: $2,194
		Lease incentive: the average lease offer on this vehicle is $3,833, up 14% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 10% off MSRP.
4.		Toyota RAV4 (Compact Utility)
		Avg. MSRP: $32,386
		Avg. Paid: $30,057
		Avg. incentive amount: $2,059
		Lease incentive: the average lease offer on this vehicle is $4,215, up 7% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 6% off MSRP.
5.		Honda HR-V (Subcompact Utility)
		Avg. MSRP: $25,275
		Avg. Paid: $24,498
		Avg. incentive amount: $2,761
		Lease incentive: the average lease offer on this vehicle is $3,001, up 4% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 11% off MSRP.
Finance
1.		Chevrolet Silverado 1500 (Fullsize Pickup)
		Avg. MSRP: $49,828
		Avg. Paid: $44,624
		Avg. incentive amount: $4,574
		Finance incentive: the average finance offer on this vehicle is $8,513, up 51% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 9% off MSRP.
2.		Chevrolet Equinox (Compact Utility)
		Avg. MSRP: $31,382
		Avg. Paid: $26,921
		Avg. incentive amount: $5,264
		Finance incentive: the average finance offer on this vehicle is $8,160, up 47% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 17% off MSRP.
3.		Honda Civic (Compact Car)
		Avg. MSRP: $24,033
		Avg. Paid: $22,790
		Avg. incentive amount: $1,994
		Finance incentive: the average finance offer on this vehicle is $1,754, up 42% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 8% off MSRP.
4.		Chevrolet Colorado (Midsize Pickup)
		Avg. MSRP: $36,528
		Avg. Paid: $33,641
		Avg. incentive amount: $2,743
		Finance incentive: the average finance offer on this vehicle is $5,538, up 38% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 8% off MSRP.
5.		Honda Pilot (Midsize Utility)
		Avg. MSRP: $42,569
		Avg. Paid: $39,005
		Avg. incentive amount: $2,983
		Finance incentive: the average finance offer on this vehicle is $3,748, up 29% from last month.
		Why this is a good deal: The average incentive across cash, lease and finance represents an average savings of 7% 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 1/19/2021. 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
TrueCar looks at popular used vehicles at a model level and curates those that show a significant month-over-month drop in the list price. With the average month-over-month used vehicle listing price change at -3.1%, a larger drop in listing price signals that it's a good deal.  

Brand and Model	Segment	MoM Drop in List Price
Volkswagen CC	Mainstream Cars	-5.6%
Mitsubishi Eclipse Cross	Mainstream Utility	-5.0%
Chevrolet Malibu	Mainstream Cars	-4.7%
Chevrolet Spark	Mainstream Cars	-4.6%
Acura TSX	Luxury Cars	-4.6%
Ford C-Max	Mainstream Cars	-4.5%
Ford Fiesta	Mainstream Cars	-4.4%
Nissan LEAF	Electric	-4.4%
Mitsubishi Mirage	Mainstream Cars	-4.3%
BMW i3	Electric	-4.3%
Honda Insight	Mainstream Cars	-4.3%
Honda Clarity	Electric	-4.3%
Hyundai Ioniq	Electric	-4.2%
FIAT 500X	Mainstream Utility	-4.2%
Buick Verano	Mainstream Cars	-4.2%

Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 1/15/2021 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
TrueCar highlights popular used vehicles 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
Ford Super Duty F-450 Chassis Cab	Pickups	-0.2%
Ram ProMaster Cargo Van	Commercial Vans	-0.6%
Ford Transit Cargo Van	Commercial Vans	-0.8%
Porsche 911	Luxury Cars	-0.8%
Ford Econoline Cargo Van	Commercial Vans	-1.2%
BMW X7	Luxury Utility	-1.3%
Chevrolet Express Cargo Van	Commercial Vans	-1.4%
Porsche Boxster	Luxury Cars	-1.5%
Maserati GranTurismo	Luxury Cars	-1.5%
Tesla Model X	Electric	-1.5%
Mercedes-Benz Sprinter Cargo Van	Commercial Vans	-1.5%
Nissan NV200 Compact Cargo	Commercial Vans	-1.5%
Honda Element	Mainstream Utility	-1.6%
Ford Super Duty F-350	Pickups	-1.6%
Ford Transit Passenger Wagon	Commercial Vans	-1.6%

Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 1/15/2021 compared to the prior month. Individual vehicle price changes may vary based on a variety of factors, including location, individual vehicle attributes and dealer.

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

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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 cash deals on new vehicles from TrueCar for January 2021?

TrueCar reports significant cash deals for models like Chevrolet Silverado 2500HD, Chevrolet TrailBlazer, and GMC Terrain, with cash incentives increasing up to 66% from the prior month.

What is the average savings on new vehicles according to TrueCar in January 2021?

The average savings on new vehicles is reported at 7.2% off MSRP.

How much did used vehicle listing prices drop in January 2021?

Used vehicle listing prices saw an average drop of 3.1% month-over-month.

What vehicle models have the best trade-in values according to TrueCar?

Vehicles like Ford Super Duty F-450 and Ram ProMaster Cargo Van are noted for retaining their market value, showing minimal drops in list price.

How can TrueCar assist consumers in finding car deals?

TrueCar helps consumers compare real price offers and navigate the complexities of cash, lease, and finance incentives for car purchases.