Get access to the same vehicle valuation tool that dealers rely on. With Black Book, you’ll have insider data to accurately assess trade-in and purchase values—empowering you to negotiate the best possible deal.
Looking to get into a new vehicle for the least amount of money possible? We’re here to help. Despite new car prices remaining near record highs, affordable lease options remain as automakers look to move inventory. Surprisingly, there are several new car leases under $200/month in June. Bump your budget up to $250/month, and you have plenty to choose from. From sedans to EVs and popular crossover SUVs, these are the cheapest lease deals for June 2025.
Important note: The following advertised manufacturer offers exclude taxes, title, and fees. The dealer sets the final price. Automakers announce new monthly sales between the second and fifth of each month.
Whether you prioritize fuel efficiency, space, or the latest technology, the cheapest lease deals prove that you can have it all. Remember to act quickly, as these deals expire at the end of the month.
Ready to skip the BS and lease the easy way? Do it all from the comfort of home with CarEdge. With home delivery available (free in select areas) and our famous pre-negotiated pricing, we’ll simply deliver the car you want to your door.
As manufacturers roll out year-end incentives, buyers are seeing more attractive offers for November 2024. From zero percent financing to cheap lease deals, there’s something for everyone. It’s worth pointing out that automakers update their incentives between the second and fifth business day of each month. Check back for updates this week!
The Best APR Offers In November
Low APR deals are growing in quantity and quality as we approach year-end sales. With interest rates officially falling, more deals are on the way. If you’re interested in any of these cars and trucks, what’s the use in waiting?
0% Financing! Chevrolet, Jeep, Nissan, and Mazda
In recent months, we’ve seen an increase zero percent financing. All of the following models are all advertised for 0% APR in November 2024.
JEEP – All Jeep models, from the Wrangler to the Grand Cherokee, have 0% APR for 36 months right now.
KIA – 2024 Kia EV9, EV6 (0% APR for 72 months). The slower-charging Niro EV is offered with 0% financing for 60 months. Kia is also offering the Sportage and Sorento at 0% APR for 48 months.
Ready to outsmart the dealerships? Download your 100% freecar buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
Negative equity, or being “underwater” on a car loan, is becoming a growing issue for many drivers in today’s market. As vehicle prices soar and depreciation accelerates, more car owners are finding themselves owing more on their loans than their cars are worth. CarEdge, in partnership with Black Book, surveyed nearly 1,000 drivers to understand the extent of this problem in Q3 2024. Here are the key findings.
According to our survey, 31% of drivers who financed their vehicles are currently in negative equity. This number rises to 39% for vehicles purchased since 2022, indicating that newer car buyers are especially vulnerable. As vehicle prices increase and long loan terms become more common, the risk of being underwater is higher than ever.
Most Drivers Overestimate Their Vehicle’s Value
A staggering 61% of surveyed drivers overestimate how much their cars are worth, with 17% believing their vehicle is worth at least $5,000 more than its true trade-in value. This disconnect can lead to unpleasant surprises when drivers try to trade in or sell their cars, often rolling over negative equity into their next auto loan and perpetuating the cycle.
Longer Loan Terms Lead to Greater Negative Equity
Our data shows that loan terms directly impact vehicle equity. Car owners with 84-month loan terms are nearly $5,000 underwater on average, while those with 36-month loans typically have $12,340 in equity. Although longer loans reduce monthly payments, they also increase the likelihood of negative equity in the long term.
EV and Luxury Car Owners Are Hit Hardest
Electric vehicle owners are significantly more likely to be underwater. Of the EV owners we surveyed, 46% are currently in negative equity, with a median loan-to-value (LTV) ratio of 0.94—higher than the broader market’s 0.73. Luxury car brands like Tesla and BMW also see higher rates of negative equity compared to budget brands like Toyota and Honda.
A Concerning Trend for 2025
As more drivers find themselves underwater on their car loans, the negative equity issue is poised to become a major challenge for car owners and the auto industry alike. While budget car buyers may fare better, EV and luxury car owners are disproportionately affected.
CarEdge remains committed to providing insights and tools to help consumers navigate today’s car market. To learn more about vehicle equity and stay informed on auto news and market trends, visit CarEdge for expert analysis and guidance. For more information about Black Book’s industry-leading data and analytics, visit BlackBook.com.
As 2025 approaches, some car shoppers are finally seeing relief after years of price hikes. Several popular cars and trucks are getting price cuts in the new year. With automakers competing for U.S. market share and adapting to market demands, a few fan-favorites are over a thousand dollars cheaper for the new model year. Here’s a look at four crossovers and one popular pickup truck that are all receiving price cuts for 2025.
The 2025 model year is the last call for the Ford Escape. After two decades in the Ford lineup, the Escape will be discontinued to make way for EVs. As interest in the doomed crossover wanes, Ford has announced lower pricing for the 2025 model year. The popular Escape ST-Line is $1,500 cheaper for 2025.
When it comes to 2025 Ford Explorer pricing, trim options matter. Although the Explorer’s base MSRP increases by nearly $3,000, the more popular Explorer ST-Line gets $1,400 cheaper for 2025. Don’t pay a dollar over MSRP for this SUV!
Mazda sold over 70,000 CX-5s through the first half of 2024, but that’s not keeping them from launching an all-out price war with the crossover competition. For 2025, the Mazda CX-5 Premium Plus gets $1,300 cheaper.
Finally, more than a year after the Blazer EV arrived as a 2024 model, sales are starting to pick up. With a stop-sale for software issues well behind us, more drivers are scoring great deals on the sporty electric crossover. For the 2025 Blazer EV, GM is aiming to boost sales with a starting price that’s $1,200 lower.
The GMC Sierra 1500 is the only truck with falling prices for 2025. Even so, it’s hardly a discount. The popular AT4 spec is $300 cheaper for 2025. Not all trim options are seeing price cuts, but it’s worth mentioning due to rising prices for most of the full-size truck competition. However, seasoned truck buyers know that big cash and financing discounts are likely to arrive later in 2025 for those with patience.
With automakers slashing prices on some of the most popular models, 2025 is shaping up to be a better year for car shoppers. We recently shared our 2025 car market forecast, and we’d be shocked if more price cuts weren’t announced soon. Be sure to stay informed and explore the latest car offers with CarEdge, where you can find the best deals on these models near you.
If you’re looking for ways to save money on your car loan, refinancing could be the perfect solution. Whether falling interest rates have your attention or your credit score has improved, refinancing your loan can lower your monthly payments and reduce the amount of interest you’ll pay over time. This simple guide will walk you through the steps to refinance your car loan and help you decide if it’s the right move for you.
Refinance Your Car In 5 Easy Steps
Step One: Review Your Current Loan Terms
Before refinancing, it’s important to understand your current loan. Take a close look at your loan details, including the 1) remaining balance, 2) interest rate (APR), and 3) monthly payment.
You also want to check if your current loan has a prepayment penalty. Some lenders charge a fee if you pay off your loan early, which could impact whether refinancing saves you money. If you don’t see a prepayment penalty mentioned on your online banking portal, you may need to give your lender a call to find out.
Step Two: Review Your Financial Picture
To get a better auto loan rate, you’ll first want to check your FICO credit score for improvement. It’s best to check your credit score for free with the three major credit bureaus: Experian, TransUnion, and Equifax. It’s normal to see slight differences between your three major credit scores. To qualify for a better rate, you’ll need an improved credit score, and in most cases, proof of income. Once you’ve reviewed your credit score and overall financial picture, you’re ready to shop for rates.
Step Three: Shop For Better Rates
Refinancing is all about finding better terms. It’s smart to compare rates from multiple lenders, including banks, and credit unions. Even if you’ve always used one particular bank, you’ll want to review offers from other lenders. Compare offers from multiple refinancing lenders with CarEdge.
Keep in mind that different lenders may offer different terms, and the lowest interest rate isn’t always the best option. Look at the full loan package, including fees and repayment terms, to find the best deal for your financial situation. It’s also smart to see how much a better rate will save you using a free refinancing calculator.
Step Four: Apply For A Refinancing Loan
Once you’ve found the best refinancing offer, it’s time to apply for refinancing. Be ready to provide documentation such as your current loan details (including bank and account or loan number), proof of income, and information about your vehicle (VIN number, make, model, year, and mileage). Most lenders offer online applications, making the process quick and easy.
Step Five: Finalize Your Loan, And Rake In The Savings!
After your application is approved, your new lender will pay off your old loan, and your refinanced loan will take its place. From here, you’ll start making payments to your new lender at the lower rate. Be sure to set up auto-pay to ensure you never miss a payment on your new loan.
By refinancing, you’ll save money on interest and potentially lower your monthly payments, giving you more room in your budget. The process is simple, and the benefits can be huge over the long run.
CarEdge Insights
