The coronavirus pandemic and subsequent economic crisis have taken a massive toll on the American automotive industry. In April 2020, U.S. new passenger vehicle sales dropped 52.5 percent year-over-year compared with the same month in 2019. But as a result, carmakers are stuck with loads of excess inventory –so if you do happen to be in a position to make a move on a new vehicle, it’s a great time to buy.
Right now, many manufacturers are offering customers 0-percent APR financing on long loans and payment deferrals to move cars out the door. Certain models — including some of our favorite trucks, SUVs and sports cars — are up for grabs with massive cash discounts.
Here are 10 models on sale right that you can find on sale for a great deal below the usual asking price.
(Note: All deals were currently valid at the time this article was posted; however, they are subject to change.)
2020 Cadillac Escalade
The new 2021 Escalade arrives later this year, so Cadillac is offering heavy incentives to get now-dated 2020 models out the door. The company is offering $9,000 in cash if you take delivery before June 1st. Dealer incentives and employee pricing can push that price down even further.
2020 Lexus RC F
We love a good V8-powered performance coupe, and Lexus is offering $5,000 cash back on the RC F. It’s not game-changing savings for a car most people will option north of $70,000. But, with dealer incentives added, it can take a chunk out of that $11,000-plus Performance Pack.
2020 GMC Sierra Denali
GM’s ultimate chrome-tastic lux truck the Sierra Denali 1500 often features discounts. Currently, it’s on the receiving end of a $6,500 manufacturer incentive. Dealers can pair that with their own incentives; here’s one Sierra Denali I found in with a price that’s been dropped down to $48,488 — from an original MSRP north of $60,000.
2020 Chevy Bolt EV
The Bolt jumps from 238 miles to 259 miles of range for 2020. While the federal tax credit expired at the end of March, GM is offering some incentives to make up for it. There’s an $8,500 cash incentive — or you can take $4,750 and get 0 percent APR financing for up to 72 months.
2020 Jeep Compass Trailhawk
The second-generation Jeep Compass is significantly better-looking than the first generation. The Trailhawk version brings a more badass appearance — and some serious Jeep off-road capability. Jeep is offering $3,000 cash on the Trailhawk, which can be paired with additional cash incentives, dealer offers and employee pricing for further bargains.
2020 Buick Regal TourX
Manufacturers have been dropping wagons from the U.S. market, but a few holdouts remain. The Buick Regal TourX has the same horsepower as the Audi A4 Allroad, about 25 percent more cargo space, and costs $15,000 less. It’s even more of a steal now, what with Buick offering customers $5,500 cash on the hood.
2019 / 2020 Fiat 124 Spider
The Fiat 124 Spider is one of our favorite cars. It’s a Mazda Miata restyled by Italians! It’s also one of America’s least popular cars, and is going out of production. Dealers are motivated to get rid of them, so they’re offering thousands of dollars in discounts. The cheapest new Miata has an MSRP of $27,525; here, though, is a 2019 Fiat 124 holdover with a manual for $20,700. (The giant scorpion hood decal may still cost you a premium.)
2020 Kia Optima
Kia has a new Optima sedan arriving for 2021, and the company is looking to move 2020 models. That adds up to a $3,500 cash-on-the-hood deal on the base model and a $4,000 deal on upper-level trims. That plus dealer incentives can lead to savings of nearly 20 percent off.
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