This year, prices of new SUVs have dropped lower than the market has seen in decades. With some research, you can find deals on many new and recent models.
Over the last 10 years, SUVs lost their original flare and popularity as gas prices skyrocketed. More efficient designs were needed to help buyers find a happy medium. People who already owned SUVs, in many cases, traded them in for more energy efficient cars. As drivers continued to avoid SUVs, prices climbed even higher.
Historically Lower Rates
However, the Tennessee Ledger recently reported that these previously skyrocketing SUV prices have dropped by an average of 18%. How is this possible? Well, for starters, dealerships have decreased the prices to move the vehicles off their lots. When SUV popularity fell, fewer people bought them, and that left a lot of unpurchased cars sitting around. Beyond that, manufacturers opted for more fuel-efficient designs that, when coupled with a decrease in gas prices, have made them significantly more affordable.
The Renewal of SUV Popularity
What does this mean for buyers today? Well, it means there are deals and discounts almost everywhere you turn. In fact, gas prices have reached record lows for the last 10 years. According to CNN, gas prices have been falling regularly since April 2017, in some cases falling by as much as 11%. All of this makes vehicles like SUVs more affordable.
Affordable gas is not the only reason for a renewed interest. Auto manufacturers have learned the hard way that their buyers want more energy efficient cars – buyers do not want to drive a vehicle that eats up one-third of their income on gas, no matter how cheap gas prices get. So, automakers have designed a new crossover line of blended SUVs that offer better performance and efficiency. Production of the newer vehicles has left dealers with an influx of SUVs on their lots that they need to move.
Finding Deals on SUVs
Finding deals has never been easier. Right now, dealers are not only trying to move older inventory, but they are trying to make room for newer, 2019 models which will arrive soon.
Which vehicles have the best deals?
Ford is offering deals on the 2018 Escape. You can get up to $2,000 cash back with 0% financing if you qualify. Kia’s 2018 Sorento is a midsize SUV that is dropping in price by an average of almost 10%.
The Fiat 2017 500X has up to $4,000 cash back. Local dealers have more information on the lowest prices available. The 2017 Mazda CX-2 has declined in price by an average of 14.3%, which means you can get top deals on a versatile subcompact SUV with great gas mileage and sharp handling. Jeep fans can take advantage of the deals available on the 2017 Cherokee, which has recently suffered a 25% drop in sales. Because dealers need to move their inventory of these vehicles, they are now available in a hassle-free capacity.
If you are interested in one of the models rated “top compact” by US News, like the 2018 Nissan Rogue, you can get cash back up to $1,750 and 0.9% APR for upwards of 60 months for qualified buyers. Toyota has jumped on the bandwagon too, offering low financing for the Toyota 2018 Rav4. Buick is offering the 2017 Enclave at highly discounted rates, after a 22.8% drop in anticipated sales last year. This influx of inventory paves the way for discounts, cash back rebates, and lower interest rates for qualified buyers.
These are only a handful of the great deals you have at your disposal. With new models arriving soon from the 2019 release, no doubt more incentives and lower pricing will become available to make sure buyers like you take 2018 models and earlier off the dealers’ hands.
No matter which SUV you want, compare prices and offers from your local dealers to make sure you are getting the best deal!