The Most Effective Summer Clearance Deals on New Cars

May 30
16:15

2024

adawong1

adawong1

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As summer draws to a close, car dealerships are eager to clear out their inventory to make room for next year's models. This period is often the best time to snag a great deal on a new vehicle. Dealers are motivated to offer generous discounts, financing rates, and lease deals on some of their best-selling and newly redesigned models. This article delves into the most effective summer clearance bargains on new cars, providing detailed insights and statistics to help you make an informed decision.

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Why End-of-Summer is the Best Time to Buy

The end of summer marks the transition from one model year to the next. Dealers are keen to clear out their current year's inventory to make space for the upcoming models. According to Kelley Blue Book,The Most Effective Summer Clearance Deals on New Cars Articles this period often sees some of the most attractive deals of the year. Alec Gutierrez, a senior market analyst at Kelley Blue Book, advises potential buyers to do their research online and then contact local dealers to negotiate the best price.

Top Summer Clearance Deals

Hyundai Accent

  • Model: Hyundai Accent GLS
  • MSRP: $13,330
  • Deal: Available for as low as $232 per month with 3.9% financing.

Toyota Camry

  • Model: Toyota Camry CE
  • MSRP: $23,300
  • Deal: $334 per month for five years with 0% financing and $1,500 cashback.

Fiat 500

  • Model: Fiat 500
  • MSRP: $16,250
  • Deal: 0% financing and a $500 rebate, making it approximately $248 per month.

Mazda3

  • Model: Mazda3
  • Deal: Available with 0% financing, costing around $269 per month.

Attractive Lease Offers

If leasing is more your style, there are several compelling offers available as dealers aim to capitalize on low interest rates and high vehicle values.

Chevy Malibu

  • Model: 2012 Chevy Malibu LS
  • Deal: Lease for $179 per month for two years with $1,939 down.

Subaru Impreza

  • Model: 2012 Subaru Impreza
  • Deal: Lease for $169 per month for 42 months with $1,969 down.

Ford Focus

  • Model: Ford Focus
  • Deal: Lease for $159 per month for two years with $2,378 down.

Honda Fit

  • Model: Honda Fit LX
  • Deal: Three-year lease for $159 per month with $1,999 down.

Kia Soul

  • Model: 2012 Kia Soul
  • Deal: Two-year lease for $159 per month with $2,778 down.

Interesting Statistics

  • Average Savings: According to Edmunds, buyers can save an average of $3,000 on end-of-year clearance deals.
  • Financing Rates: Experian reports that the average interest rate for new car loans is around 4.21%, but summer clearance deals often offer 0% financing.
  • Lease Popularity: Leasing accounts for about 30% of all new car transactions, according to the Federal Reserve Bank of New York.

Conclusion

The end of summer is a prime time to purchase or lease a new vehicle, thanks to the attractive deals offered by dealerships eager to clear out their current inventory. By doing thorough research and negotiating effectively, you can secure a great deal on a new car. Whether you're looking to buy or lease, the offers available during this period are hard to beat.

For more information on car buying tips and the latest deals, visit Kelley Blue Book and Edmunds.

This article provides a comprehensive overview of the best summer clearance deals on new cars, offering detailed insights and statistics to help you make an informed decision.