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As Presidents’ Day approaches, many wonder if it’s a wise time to purchase a new vehicle. Traditionally, year-end sales boast the most attractive discounts, but 2024 is close to bucking that trend. Thanks to a continuing oversupply of new cars, the enticing offers of financing, cash back, and lease deals have spilled over into February, making Presidents’ Day a great time to buy a car, but only if you’re taking advantage of this month’s promotions. Let’s take a look at the 5 best offers for drivers looking to finance, lease, or pay cash this month.
The Best Presidents’ Day Financing Offers
Chevrolet: Drive home a 2024 Chevrolet Silverado 1500 at just 2.9% APR for up to 72 months. This is a rare truck financing offer at today’s interest rates! Learn more.
Nissan: The 2023 Ariya EV shines with 0% APR for 72 months plus $1,000 in total savings. For truck enthusiasts, the 2023 Titan and Titan XD come with 0% APR for 60 months, coupled with $2,000 in total savings.
Hyundai: The 2024 Tucson and 2023 Santa Fe are available at 0% APR for 36 months, with an added bonus of $1,000 off MSRP.
Mazda: This month, there’s a 0% APR offer for the 2024 CX-30 and a 1.9% APR offer for 60 months for the 2024 CX-50 (most trims). The 2024 CX-5 qualifies for 0.9% APR (exclusive CarEdge offer)
In conclusion, Presidents’ Day car deals in 2024 are remarkably favorable due to the ongoing oversupply of new cars. This surplus has led to more aggressive offers from manufacturers, making it an excellent time to consider a new vehicle. Oddly enough, it seems that many of the best year-end deals have spilled over into the new year. However, if you don’t plan to take advantage of the best offers, high interest rates make this a costly time to buy.
Our team has one simple take away message for you. If you’re going to buy a car this month, take advantage of low APR offers or attractive lease deals. Don’t fall victim to interest rates at 20-year highs!
Ready to outsmart the dealerships? Download your 100% free car 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!
Tesla’s journey through the years has been a tapestry of innovation, disruption, and at times, controversy. Despite a mixed record of reliability, Tesla has undeniably cemented its position as a frontrunner in American EV sales, boasting 50% market share in 2024. With Tesla’s pricing becoming increasingly attractive, a new wave of drivers is exploring Tesla models for the first time. Consumer Reports, through rigorous testing and extensive surveys, offers insights into the reliability of Tesla’s lineup. But how does Tesla’s reliability stack up against other automakers? We’ll answer this question and more as we look at the most reliable Tesla models in 2024.
Tesla Versus the Competition: Reliability
As of 2024, Consumer Reports ranks Tesla’s overall brand #14 of the 30 car brands that they’ve tested.
Their rankings are based on Tesla’s predicted reliability score. This time-tested method of scoring reliability includes all the vehicles within that brand for the newest three model years from the latest Consumer Reports member survey.
Here are the 10 most reliable automotive brands, according to CR.
Surprisingly, Tesla’s two most affordable models are their most reliable, according to testing and surveys done by Consumer Reports. The most expensive Tesla models are actually the least reliable.
In 2024, the Tesla Model 3 and Model Y are the most reliable. Let’s zoom in to the details.
The 2024 Tesla Model 3 boasts an impressive electric range of 341 miles. Tesla’s Supercharger network ensures convenience and efficiency, significantly reducing downtime during trips. The Model 3 was recently joined by the Hyundai IONIQ 6 in the club of long-range electric sedans. If recent sales trends are any indication, the Model 3 continues to be favored by more buyers. Learn more about Consumer Reports’ Tesla Model 3 reliability ratings here.
In 2023, Tesla sold approximately 403,700 Model Ys in a record year for the company. Consumer Reports expects the 2024 Model Y to have average reliability when compared to the average new car. This prediction is based on Consumer Reports data from 2021, 2022 and 2023 models. Learn more about Consumer Reports’ Tesla reliability ratings here.
The Tesla Model S is the original mainstream Tesla model, although mainstream only for luxury buyers. The Model S proved that electric vehicles had a future. In 2024, it remains in Tesla’s lineup as a tiny fraction of it’s previous importance to the company. Sales have dwindled as the Model 3 and Model Y have moved to the forefront.
The Model S has an electric range of 320 to 405 miles depending on the model, with a 100 kWh lithium-ion battery. It supports plug-in charging with various options, including a Supercharger at 150–250 kW DC, allowing for rapid charging. If you’re looking for an electric luxury sedan, the Model S should be on your short list. However, Consumer Reports found multiple trouble areas when reviewing the reliability of the Model S. Learn more about Consumer Reports’ Tesla Model S reliability ratings here.
The Tesla Model X is the least reliable Tesla model, but it’s also the most expensive. Known for its distinctive gull-wing doors, the Model X offers a cargo volume ranging from 15 to 37.1 cubic feet, which expands to 91.6 to 92.3 cubic feet with the seats down. It was the sole 3-row electric SUV until the Rivian R1S and Kia EV9 were introduced. With a range of up to 335 miles, the Model X combines practicality with Tesla’s renowned electric performance. Learn more about Consumer Reports’ Tesla Model X reliability ratings here.
2024 Tesla Cybertruck
Price: $60,990 – $99,900+
Predicted Reliability: The Cybertruck has not yet been tested by Consumer Reports. We expect CR to test Tesla’s truck late this year.
In 2024, Tesla’s reliability narrative is a blend of highs and lows, with Consumer Reports placing Tesla models below average in terms of reliability. However, the Tesla Model 3 and Model Y emerge as beacons of relative dependability within the Tesla lineup, anticipated to be the most reliable among Tesla’s offerings.
As spring car buying season approaches, the new and used car markets are ripe for deal seekers. However, knowledge is certainly power in 2024. Attractive low APR offers have continued well beyond year-end sales, making new cars a potentially better deal than used ones. Additionally, the glut in new car inventory has tilted the scales, making new vehicles more negotiable. For those not keen on long-term commitments, leasing emerges as an appealing option, thanks to favorable terms spurred by the oversupply. If you’re wondering if spring 2024 is a good time to buy a car, here are three things you should know before stepping foot on a dealership lot.
1. Financing Offers Push Buyers to New Cars
If you’re on the fence about whether it makes sense to buy new or used in spring 2024, the tie-breaker may be today’s enticing new car APR offers. 2023’s year-end deals seem to have bled over into the new year, propelled by surging new car inventory, and hundreds of thousands of unsold 2023 models.
As of the latest promos, we counted no fewer than ten 0% financing offers. When you zoom out to include deals below 1.99% APR, that number grows to 21 active offers. But if you’re not paying attention, it’s easy to fall victim to today’s overall high interest rates.
Whether you intend to buy new or used, it’s important to factor in the cost of borrowing money when budgeting for your next vehicle. Despite the great incentives available today, as of the most recent data, the average new car loan rate is 9.95% APR. Used car loan rates are even higher, closing in on 14% APR.
Insurance rates have gone up, too. In 2023, car insurance premiums climbed 24%, the quickest spike in decades. In 2024, Insurify predicts that rates will climb an additional 7%. On the bright side, the US Energy Information Administration forecasts average gas prices to remain lower than in recent years. The EIA expects US gas prices to average $3.40/gallon in 2024.
All in all, it’s smart to prepare for the total cost of owning a vehicle BEFORE you buy. Take advantage of CarEdge’s free data for detailed cost of ownership rankings, with data on maintenance, depreciation, insurance, and more.
2. New Cars Are More Negotiable
Simply put, there’s a worsening oversupply of new cars right now. As we race towards spring car buying season, there’s no sign of the new car glut easing. As of today, there’s an 89-day supply of new cars in America. Typically, that figure is closer to 60 days. Some brands, such as Nissan, Jeep, Ram, and Ford, have nearly twice the average inventory. Nissan can’t seem to sell cars right now. Stellantis has been in the same boat for well over a year.
Why does inventory matter to consumers? We say it all the time: when inventory surges, deals are sure to follow. Some cars, trucks, and SUVs are more negotiable than others. Here at CarEdge, we stay on top of the latest market trends. Why do we do it? To bring you insights on where the best deals are, of course. As of today, the following new and used car segments are most negotiable, considering supply, demand, and inventory data: Electric vehicles, trucks, vans, luxury crossovers and SUVs. This is a generalization based on the model-specific inventory and deal insights available through CarEdge Data.
Used car prices are falling, albeit more so at wholesale auctions than on dealer lots. In 2023, used prices fell 7%, and are now down 21% from all-time highs in December of 2021.
Our team of CarEdge Coaches reports that used car prices are certainly more negotiable today than they were in months past, but car dealers are stubbornly resisting the downward pressure in the market, and are too often leaving price tags as-is. Don’t let that stop you from mastering car buying negotiation skills.
If you don’t expect to hold on to your next vehicle for more than five years, consider leasing to avoid the massive depreciation that comes along with buying any new car. Gone are the days of selling any used car for a profit. With the ongoing oversupply of new vehicles, it’s not just APR and cash offers that are abundant right now. Leasing deals are shockingly good this month.
When a dealer leases a car, they’re technically still making a sale. It’s just that the leased car is sold to a third party who then leases it. So in other words, automakers and dealers alike love leasing a car to you, and offer sweet deals in times of high new car supply. Here are a few of the best lease deals this month:
Lease a Chevy Trax for $399/month with the just the first month’s payment due. See details.
Lease a Chevy Equinox for $299/month for 24 months with $1,409 due.
Lease a 2023 Ram 1500 Big Horn for $470/month for 36 months with $4,500 due.
The spring of 2024 offers compelling reasons for consumers to consider new vehicles, thanks to attractive APR offers and an oversupply that enhances negotiation potential. However, buyers should tread carefully, considering high loan rates and insurance premiums. For those looking for flexibility, leasing provides a viable path to bypass the steep depreciation of new car purchases. Remember, you can always see this month’s best APR, cash, and lease deals here. We update our resources as soon as the latest offers are announced.
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!
Drivers despise haggling with salespeople. From bait-and-switch pricing to misleading online prices, there’s a lot to dislike about the whole experience. It’s no surprise that just 26% of car buyers think that the car buying process is transparent. In the age of online shopping, wouldn’t it make sense to buy your next car online? Today, there’s a better way to find the perfect vehicle at the right price. Here’s how CarEdge is taking no-haggle car buying to the next level.
No-Haggle Pricing + Home Delivery? It’s Here.
Price transparency is a real problem in car buying. We hear horror stories from car shoppers all the time. It’s about time that someone did something about it. Here at CarEdge, our team set out to find a lasting solution to car buying woes. The result was the launch of a new way to buy a car: pre-negotiated, no-haggle car pricing through a network of vetted car dealers.
By choosing to only work with honest car dealers with stellar reputations, CarEdge is changing the way Americans buy cars. Imagine this: you browse for cars online, find the vehicle you want at a price you’re happy with, and then connect with your personal Concierge who will take it from there. Days later, your car is delivered to your driveway.
How does CarEdge work? Is there a catch? Next, we’ll lay out the entire process, from start to finish.
How CarEdge Works
Buying a car through CarEdge involves a stress-free process that’s managed entirely from the comfort of your home. Here’s an overview of how it works:
Initial Consultation: Find a car, or reach out to our team for help. When you’re ready, we’ll start with a phone call to discuss your preferences and budget. Zero pressure, no gimmicks. Best of all, no-haggling.
Vehicle Selection: CarEdge will locate the best vehicle that fits your needs. Want options? No problem. You have the final say on everything.
Dealer Communication: CarEdge handles all interactions with the dealership, including negotiations. Never deal with a salesperson, period!
Transparent Pricing: Your CarEdge Concierge ensures that the price is fair without hidden fees or unnecessary add-ons.
Home Delivery: The car is delivered directly to your door. Congratulations! You just bought a car without stepping foot in a dealership.
On average, drivers who buy with CarEdge save a few thousand dollars on their new car. In many cases, CarEdge is able to source the exact vehicle a customer wants (make, model, year, trim, and even color), for thousands of dollars less than you’ll find elsewhere. CarEdge even has below-invoice deals (that’s far below MSRP!).
We welcome you to browse hundreds of real, unfiltered CarEdge reviews at the CarEdge Community Forum. See how much you could save in time, money, and hassle!
Got questions or want more information about no-haggle car buying with CarEdge? Simply want to talk to our team of experts? We’re here to help! We’re real people here to save you real money. Feel free to reach out to us at concierge@caredge.com with any inquiries or for further assistance.
The decision between buying and leasing a car is a tricky one. In 2024, this choice is even more pertinent due to shifting market dynamics and attractive manufacturer incentives. Drawing insights from CarEdge Co-Founder Ray Shefska, we delve into the nuances of buying versus leasing to help you make an informed decision.
Understanding Leasing in 2024
Leasing has traditionally been a popular option for drivers seeking lower monthly payments and the flexibility to change cars every few years. However, leasing fell out of favor during the pandemic era. In 2024, leasing is once again growing in popularity as drivers look to avoid the high interest rates that come with buying. There are also reasons why the dealers and car manufacturers themselves are fans of leasing.
Leasing keeps customers coming back to the dealership, more so than selling does. It’s also seen as a proven method of increasing brand loyalty. Ray highlights that many manufacturers are trying to increase the number of vehicles that are being leased due to the benefits it offers both dealerships and customers. Leasing ensures customers return at the end of their term, potentially increasing brand loyalty and dealership traffic.
Historically, leasing deals accounted for about 30% of all new car sales. However, this figure has recently dipped to around 17-18%. In response, manufacturers are rolling out aggressive leasing deals to climb out of the leasing slump. In early 2024, there’s an abundance of attractive lease offers for popular models.
First, let’s talk about whether buying or leasing makes sense for you.
The Benefits of Leasing a Car
Leasing in 2024 offers several advantages over buying:
Lower Monthly Payments: Aggressive leasing deals can significantly reduce monthly payments, making it feasible for customers to opt for higher trim levels without stretching their budgets.
Quality Used Inventory: The end of lease terms brings a wave of desirable used vehicles back to dealerships, benefiting the used car market with a supply of attractive options.
Flexibility: Leasing allows consumers to enjoy the latest models every few years, along with the latest technology and safety features, without the long-term commitment of buying.
Purchasing a vehicle outright continues to be a viable option for those looking for long-term value and ownership. These are the main advantages of buying instead of leasing:
No Mileage Restrictions: Unlike leasing, buying a car frees you from mileage limits, making it ideal for those with high commute demands.
Ownership Equity: Every payment made towards buying a car builds equity, eventually leading to outright ownership, which can be financially beneficial in the long run. Keep in mind that it’s never a smart idea to buy if you plan to sell within a few years. Depreciation hit’s hard, as car owners are finding out today.
Freedom to Customize: Owning a car allows for personalization and modifications without the restrictions typically imposed by a lease agreement.
The decision to buy or lease in 2024 hinges on personal preferences, driving habits, and financial considerations. Ray advises, “Customers should check the manufacturer website and see what kind of sales and lease offers are available in their area before heading to the dealership.” Additionally, it’s crucial to check insurance costs before falling head over heels for any new car.
In 2024, whether to buy or lease a car depends on your individual needs and lifestyle. With manufacturers pushing more attractive lease deals, leasing may become a more appealing option for many. Leasing is a great way to avoid the worst effects of today’s high interest rates.
However, the long-term benefits of ownership and the freedom that comes with buying a car remain compelling factors. By carefully weighing the pros and cons and staying informed about current offers, you can make a decision that best suits your circumstances and ensures your satisfaction in the ever-changing automotive landscape.
Free Car Buying Help Is Here!
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!
CarEdge Insights
