Here are some of the best SUV deals you should know about. Prices are extremely attractive this time of year as long as you know where to look.
When you go into a supermarket, the products you see on the shelves were carefully chosen to be there. If the owners wanted to put a new product on the shelves, they would have to pick and choose which current products to remove to make space. This concept of shelf space is similar to what car dealerships have to go through every year. In order for them to make room for the next year’s inventory, they need to get rid of their old inventory to make space, and many times they’ll even take a loss and sell the older cars for cheap to do so.
It’s no secret that prices for many different things have trended upwards in 2023. Vehicle prices are no different, but that doesn’t mean it’s not a great time to buy a new SUV. Slowing numbers means that dealerships are constantly shaking things up with sales and deals, which is great news for a patient consumer. You just have to be aware of what to look for and where. As long as you are willing to put in a little bit of work, that extra time could mean lots of extra savings. Now is the time to make your move on that new SUV.
Timing For New Inventory
Normally, you will start to see the next year’s models start trickling in starting halfway through the year. However, this timetable is a little bit more behind than normal. While that seems irrelevant to someone looking for a deal now, it’s actually very important.
Car dealerships can’t just wait around and hold onto old cars while waiting for the new inventory. When the new vehicles arrive on the lot, they will need space to store them right away. This is why now is a great time to buy an older SUV, because sellers need to start making room. When they can’t sell fast enough, they will start to slash prices as an incentive to prospective consumers. That directly translates to big savings for you.
The same logic applies to SUVs that aren’t as popular. If you really want to save some cash, settle on a car that isn’t trending. Dealerships will likely be eager to offload vehicles of this kind on anyone who shows interest. Either way, it means you can save a few dollars and they can make more room for new stock.
The obvious downside to buying an older car is that it won’t have all the newest toys. If you are really serious about saving money though, it is definitely an avenue worth looking into. Just do your research to see what companies are releasing new models and when, and using that information to bolster your bargaining power.
Be Sure To Shop Around
Speaking of deals, the sticker price is only part of the payment equation. Financing rates are at an all-time low, which could help you get the perfect car. In addition to that, deals and incentives at different dealerships can vary. Be sure to do your homework before signing your name on a dotted line. A good place to start is to sign up for a few dealership newsletters to be sure you are fed the latest numbers and information. Spam can be very annoying, but that’s just one of the weapons available to consumers to keep up with trends.
One thing to look out for are deals for SUVs that cost in between $20,000 and $30,000. Vehicles in this range didn’t seem to sell in high numbers during the recent economic crisis. A reason for this may be that the demographic that normally buys cars in that range were hit particularly hard. A surplus in inventory combined with a customer base that isn’t as active may mean big savings for you.
Being Flexible = Lower Costs
Being armed with the knowledge of the lowest rates and the best SUVs to buy isn’t enough. The easiest way to get a great price on a vehicle is to stay flexible and having an open mind. After all, being willing to make a compromise here and there could translate to big bucks.
Being dead set on a particular model could make it hard to find a deal. This is especially true if you want a 2023 model, since dealerships won’t have a problem selling those on a normal basis. Besides, most vehicles made in the last few years should still have newer tech like backup cameras and safety sensors. Also, be willing to consider SUVs you didn’t originally think of when doing your research.
If you do have your heart set on a certain brand though, remember that different dealerships won’t have the same prices or deals on the same SUVs. Looking up several different sellers online beforehand can save both time and money. Combine this tactic with everything else you’ve learned to maximize your savings. Shop for older models, be aware of valuable incentives, and do your research ahead of time. With that, you are sure to drive home with a new ride without breaking the bank
Honda CR-V – Starting at $31,110
Honda has been in the SUV game awhile, and the 2024 CR-V is a clear reflection of that. It is currently well-positioned to continue being one of the best-selling vehicles in this class thanks to a myriad of reasons. A good amount of power, plenty of creature comforts, and a comfortable drive keeps the CR-V on top of many best-seller lists.
Volkswagen Tao – Starting at $24,115
One of the newer kids on the block, Volkswagen unveiled the Tao in late 2020 to great reviews. The 2024 is the second iteration of this compact-minded SUV, but don’t let the size fool you. It’s surprisingly comfortable and roomy on the inside, and the base model 1.5L turbo can really move.
Genesis GV70 – Starting at $42,900
A name some might not be familiar with, Genesis didn’t take long before establishing the GV70 as a luxurious option in a crowded SUV market. It accomplishes that while staying in a price bracket a bit below other high-end names like Mercedes or Audi. The interior certainly oozes with style and class without compromising in other areas.
Chevrolet Suburban – Starting at $59,690
Sporty, compact SUVs are all the rage, but they aren’t necessary the best for growing families. That’s where the 2024 Chevrolet Suburban steps in with its 8-passenger capacity and spacious cargo area. As any parent will attest to, keeping the kids occupied on long drives is a must. You get that in spades with this vehicle thanks to a full-featured entertainment system.
Ford Escape PHEV – Starting at $35,455
If you’re just focused on fantastic gas mileage, the Ford Escape Plug-In Hybrid lets you do that without committing to a full electric vehicle. Its fuel engine offers 37mpg city and 44mpg on the highway to go with the EPA-rated 37 all-electric capabilities. The end result is estimated to be about 105 mpg overall, which means a lot of savings at the pump.
Hyundai Venue – Starting at $19,000
Hyundai used to be synonymous with bad quality and unreliable, but those days are long gone. Hyundai frequently tops many lists of top SUVs and cars on the market not only for their generous base options that are usually offered on higher tiers of luxury brands, but for their value as well. The Venue is no different. At the very low starting price of $19,000, the Venue is a great option for anyone looking for an SUV on the smaller side for everyday driving use. If you’re looking for a little more space, you can look into Hyundai’s bigger SUVs like the Tucson or the highly rated Palisade.
