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.
When it comes to buying a new car, getting the best deal is crucial. That’s why our CarEdge Car Coaches have put together a list of the discount you should expect on the 10 best-selling new cars and trucks. Consider this guide step one of the journey towards finding a great deal on a new car. These insights can help you save thousands of dollars on your next vehicle purchase.
Negotiability Insights from CarEdge Car Coaches
Our CarEdge Car Coaches help hundreds of car buyers every week, and they get a good feel for the negotiability of today’s car market in the process. Based on current market conditions, these are the appropriate discounts CarEdge Car Coaches are seeing for the best-selling new cars and trucks. We’re also sharing average listing prices for brand-new 2023 models, as well as any remaining new 2022 inventory.
Make
Model
Starting MSRP
Average Listing Price
Negotiability (Off MSRP)
Ford
F-150
$35,590
$62,353
3-6%
Chevrolet
Silverado
$37,395
$58,140
5-11%
Ram
1500
$39,305
$62,513
3-13%
Tesla
Model Y*
$48,630
$66,506
0%
Toyota
RAV4
$27,975
$36,664
0%
Nissan
Rogue
$28,655
$34,339
0-6%
Honda
CR-V
$32,355
$36,607
0-2%
GMC
Sierra
$38,995
$49,998
0-11%
Toyota
Camry
$27,315
$31,946
0-3%
Tesla
Model 3*
$41,630
$40,607
0%
Looking for negotiability info for other models? With CarEdge Data, you’ll see negotiability scores for every new and used car listing. Want personalized help? Our Car Coaches are ready to help you get the best deal today. Here’s how CarEdge can help.
2023 Ford F-150
The Ford F-150 is the best selling truck in the United States. With a starting MSRP of $35,590 the F-150 may seem like a reasonably priced pickup, however the average advertised price is much higher. Our analysis of 100,000 2023 Ford F-150s listed for sale shows an average advertised price of $62,353.
As Ford inventory builds back up, our Car Coaches have helped customers get between 3-6% off of MSRP.
In the screenshot below for a listing in the Dallas market area, you can see there is 184 days supply of inventory. This is well above the industry norm of 60-90 days. This means Ford dealers should be motivated to discount and make deals.
If you’re in the market for a new truck, our Car Coaches say that the Silverado 1500 is especially negotiable. In recent deals they’ve negotiated for our members, they’ve found that between 3% and 11% can be negotiated off of MSRP.
GM is having a REALLY hard time selling trucks. It’s gotten so bad that the automaker paused production as dealer lots filled with trucks.
There are plenty of Silverado’s that have been sitting on the lot for over 60 days, but market days’ supply depends on what trim you’re looking at. Remaining new 2022 model years are especially negotiable, such as this truck on sale in Chicago.
This Ram 1500 on sale in the Houston area has been on sale for nearly 300 days, and is highly negotiable. You’ll always have better chance to pay under MSRP with outgoing model years.
The 2023 Toyota RAV4 is one of the least negotiable new cars on the market today, but it’s also one of the most popular. With a starting price well under $30,000, it’s low negotiability is offset by an affordable price and decent fuel economy. The RAV4 Hybrid and Plug-In Hybrid (PHEV) are by far the least negotiable, according to CarEdge Car Coach Justise.
In most regional markets, days supply ranges between 20 and 50 days for the RAV4. This Limited AWD in DC is sadly one of the more negotiable listings, as it’s been on the market for over one month. That’s rare for the RAV4.
Due to a higher inventory this month, the Nissan Rogue SV is more negotiable. Other Rogue trim options, such as this Rogue S in California, are quite negotiable too, according to our Car Coaches. There will generally be more negotiability towards the end of the month.
Along with its rival the RAV4, the CR-V is hard to negotiate due to consumer demand exceeding supply. Market Days Supply is FAR below the market norm of 60 days. Some options, such as the all-wheel drive CR-V and CR-V hybrids, have far less supply. We recently took a closer look at inventory in major markets, and the CR-V is hard to find everywhere you look. Be sure to check out new car inventory in major markets across America.
In some markets, there’s over 200 days’ supply for new GMC Sierra trucks. That’s 2.5 times the industry standard for lot inventory. However, as you can see with this new Sierra listing from Texas, market supply depends on the trim you’re wanting. Check local inventory for brand-new 2022 models still on the lot.
The Toyota Camry is one of the best-selling sedans in America due to its reliability and fuel efficiency. However, its popularity also means that there is high demand and limited supply, which can make negotiating a lower price challenging.
From the East Coast to the Midwest and beyond, Market Days Supply for the 2023 Camry is well under the ‘healthy’ average of about 60 days. This 2023 Camry SE in Florida is a new arrival, and will likely be sold within days.
A brand-new Model 3 now starts at just over $40,000 following half a dozen price drops in 2023. But don’t expect to negotiate on a new Model 3 since Tesla sells directly to consumers in states that allow it.
Although you can only buy new Tesla EVs at tesla.com, there are shocking deals on used Tesla models at CarEdge Car Search. See listings near you.
A word of caution: Used Model 3 prices remain VERY inflated as dealers try to recoup losses as new Tesla cars keep getting cheaper.
Get Personalized Car Buying Help and Save Big
By utilizing the data and insights provided by CarEdge Data, you can unlock a wealth of valuable information to inform your car buying decisions. With access to market data, Black Book valuations, and local inventory information, you can confidently negotiate a better deal on your next car purchase.
Ford Motor Co. announced strong Q1 2023 results, posting a net income of $1.8 billion, a significant turnaround from a $3.1 billion loss the previous year. The company’s first-quarter revenue grew by 20%, reaching $41.5 billion, fueled by a 9% increase in vehicle shipments, improved sales mix, and higher net pricing. Adjusted earnings before interest and taxes (EBIT) rose by 45% to $3.4 billion, with Ford Blue, the gasoline-powered business, contributing $2.6 billion.
Ford Model e Shines, But Burns Cash
Ford’s commercial business, Ford Pro, generated $1.36 billion, while the electric vehicle (EV) business, Model e, reported a loss of $722 million. Despite the losses from the EV segment, company officials remain optimistic as they expect losses to increase to $3 billion this year, while Ford Blue is projected to make around $7 billion and Ford Pro, $6 billion. Ford reaffirmed its full-year guidance, targeting an adjusted EBIT of $9 to $11 billion and around $6 billion in adjusted free cash flow.
Ford dropped prices for its all-electric Mustang Mach-E for the second time this year. Tesla’s massive price drops have put pressure on Ford, with the Model Y now being more affordable than the base Mach-E. On the other hand, Ford still dominates electric trucks. With no real competition until the Silverado EV arrives, the F-150 Lightning has seen half a dozen price hikes. It now starts $15,000 higher than it did one year ago.
Earnings Better Than Expected
The company’s Q1 results exceeded Wall Street expectations, with revenue reaching $41.5 billion, up 20% from the previous year, and surpassing the anticipated $36.1 billion. Earnings per share were also higher than expected at $0.63, compared to the $0.41 predicted by analysts. In Q1, Ford’s EV sales increased by 41% year over year to 10,866 units, while hybrid sales dipped by 4% to 27,064 units.
Ford Blue’s strong performance yielded $25.1 billion in revenue, $2.623 billion in EBIT, and a 10.4% EBIT margin. Ford Model e reported $700 million in revenue, an EBIT loss of $722 million, and a -102% EBIT margin. Meanwhile, Ford Pro generated $13.2 billion in revenue, $1.366 billion in EBIT, and a 10.3% EBIT margin.
Ford is optimistic about the future of its EV business, targeting a production run rate of 600,000 units by the end of 2023 and 2 million by 2026. Ford sold nearly 16,000 F-150 Lightning electric trucks in 2022, the first year of sales. The company expects Model e to reach break-even status by year-end and aims for an 8% EBIT margin by late 2026. Ford plans to increase production of various models, including the Ford Transit and E-Transit vans, Mustang Mach-E, F-150 Lightning, Bronco Sport, and Maverick pickup, to meet Q1 demand.
If you’re in the market for a new car and considering a factory order, you may want to think twice before committing. A recent survey of nearly 3,000 car buyers shows that more buyers are canceling their factory orders, with over one-third of orders being canceled in recent months. Greedy dealers who force add-ons and last-minute price hikes are among the reasons why buyers are canceling, leaving many factory-ordered vehicles searching for a new buyer. Let’s take a look at this trend, and how it affects car prices for the rest of us.
We asked the CarEdge YouTube Community what happened to their factory-ordered vehicles in recent months. Here’s what 2,900 respondents had to say about their recent factory orders:
I took delivery = 22%
I canceled my order = 37%
I’m still waiting for my order to arrive = 30%
Other = 11%
That’s right, well over one-third of new car orders are being canceled in recent months. Those factory ordered vehicles are still manufactured, and now they need to find a new buyer.
Among the respondents who selected the “other” option, these were some of the common themes shared:
Dealers insisted on forced add-ons even for factory-orders, so the order was canceled.
Some dealers raised the price upon delivery, after months of waiting.
A better deal was found on the lot.
The hassle of negotiating an order with the dealer drove some to buy used for less.
And our favorite response, “In 1977, I ordered a white Pontiac Firebird with red interior. I’m still waiting for delivery.” Love it.
The car market is still out of whack, and car buyers haven’t forgotten the normalcy of pre-pandemic car buying. “I canceled my factory order because I figured being debt free and driving a clunker bunker that is safe and still runs a much better option in this market.”
Clearly, when automakers take too long to deliver on a promise, the excitement that typically comes along with purchasing a shiny new vehicle often dies. “After waiting almost 2 years for my Bronco, the love affair kind of died. Decided to use the money on a new house.” We don’t blame you!
More Room for Negotiation: Higher Availability on Dealership Lots
See negotiability score, market says supply, suggested offer and more with CarEdge Data.
The high rate of factory order cancellations means there are more cars available on dealership lots, which gives car buyers who are willing to forgo a factory order more room for negotiation. Dealerships will be eager to sell these vehicles. They may be more willing to negotiate on price and add-ons, especially if the cars have been on the lot for an extended period of time. This situation puts car buyers in a better position to secure a good deal, as long as they do their research and are prepare to negotiate.
The Importance of Transparency, Fair Pricing, and Timely Delivery
In conclusion, the new car market is facing a new wave of disruption as thousands of canceled factory-ordered vehicles flood dealership lots nationwide. As more and more car buyers opt for factory orders, dealerships and manufacturers must ensure transparency, fair pricing, and timely delivery to avoid losing customers. With the evolving market conditions, it is crucial to keep up with consumer expectations and deliver quality service to maintain a loyal customer base.
If you’re in the market for a new car, make sure to do your research and leverage the current state of the market to negotiate better deals. Be aware of current factory order wait times. For additional insights on car buying like negotiability data, suggested offer, and local market availability, check out CarEdge Data. We’re here to help car buyers stay in the driver’s seat of their deal. Car buying, the way it should have always been.
If you’re planning to buy a new car, it’s important to consider the depreciation rate of the vehicle you’re interested in. Depreciation is the loss of value that occurs over time, and some cars lose their value faster than others. At CarEdge, we’ve analyzed millions of car listings and other automotive data points to provide you with proven data on the cars, SUVs, and trucks with the worst resale value in 2023. Don’t forget to check out the models and brands with the best resale value.
Buick
73.74% resale value after 5 years
After 5 years, Buick vehicles lose around 26% of their original value, making them one of the worst brands for resale value. The Buick Encore and Enclave are among the worst models for resale value, with both retaining only around 74% of their original value after 5 years.
Here’s a 2020 Buick Enclave that has lost 44% of its original value in less than three years. On top of that, it’s been sitting on the lot for 112 days. High depreciation can be a huge benefit to used car buyers. This Buick is highly negotiable.
This Buick is highly negotiable.
See days on the market, local supply, negotiability score, suggested offer and more for every new and used vehicle listing with CarEdge Data.
Chrysler
74.06% resale value after 5 years
With a resale value of only 74.06% after 5 years, Chrysler is among the worst brands for retaining value. The Chrysler 300 is one of the worst models for resale value, with only around 74% of its original value retained after 5 years.
This 2020 Chrysler Voyager sold for nearly $10,000 more just a few years ago. However, due to ongoing minivan shortages, it’s still tough to negotiate. Days’ supply remains below average for most vans.
Chrysler models typically have high depreciation, but we’ve been in a minivan shortage since 2021.
Ram
75.60% resale value after 5 years
Ram trucks have a resale value of only 75.60% after 5 years, making them a poor choice for those concerned about retaining value. The Ram 1500 is one of the worst models for resale value, with only around 75% of its original value retained after 5 years.
See days’ supply, negotiability scores and recommended offers for every new and used car on the market at CarEdge Car Search.
Jeep
75.77% resale value after 5 years
After 5 years, Jeep vehicles lose around 24% of their original value, putting them among the worst brands for resale value. The Jeep Grand Cherokee and Cherokee are among the worst models for resale value, with both retaining only around 72% of their original value after 5 years.
This 2020 Jeep Grand Cherokee with a clean record and just 42,000 miles on the odometer has lost 30% of its original value in three years. It’s negotiable!
This Jeep is highly negotiable, but has a poor resale value.
Nissan
77.84% resale value after 5 years
Nissan vehicles have a resale value of only 77.84% after 5 years, making them one of the worst brands for retaining value. The Nissan Armada and LEAF are among the worst models for resale value, with both retaining only around 68% of their original value after 5 years.
This 2018 Nissan Altima SR lost 32% of its value in 5 years, and that’s with a clean record and low mileage for a vehicle of that age.
Nissan Altima depreciation makes this model especially negotiable.
Car Models With the Worst Depreciation After 5 Years
Of the more than 400 models on sale in North America, these are the 20 with the highest depreciation, and the quickest to lose resale value.
Model
5-Year Depreciation
GMC Yukon XL
68.38%
Nissan Armada
68.80%
GMC Sierra 2500HD
71.30%
Chevrolet Suburban
71.86%
Jeep Cherokee
72.28%
Kia Sorento
72.48%
Nissan LEAF
72.55%
Jeep Grand Cherokee
72.70%
Ford Escape
73.00%
Chevrolet Tahoe
73.12%
Buick Enclave
73.21%
Ford Expedition
73.35%
Nissan Altima
73.90%
Nissan Titan
74.04%
Chrysler 300
74.06%
Buick Encore
74.26%
Chevrolet Spark
74.62%
Nissan Maxima
75.00%
GMC Yukon
75.31%
Ram 1500
75.60%
Maximize Your Savings: How CarEdge Data Can Help You Make Informed Car Buying Decisions
As you can see, some models lose more than 30% of their value after just five years. Buying a car with a low resale value can cost you thousands of dollars in the long run. This is especially true if you are likely to sell your car within the next decade. So, before you make a purchase, be sure to research the resale value of the vehicle you’re interested in.
At CarEdge, we provide you with the data you need to make informed decisions. With CarEdge Data, you can access valuable market data, including Black Book valuations, CarEdge Suggested Offer, Negotiability Score, CarEdge Recommendation, and local Days Supply in your region. With this information, you can negotiate better deals and avoid being taken advantage of by car dealerships.
Don’t get caught off guard with high depreciation. Unlock behind-the-scenes insights that will inform your car buying decisions today. And if you’re looking for 1:1 help with your deal, partner with a car buying pro with years of experience with CarEdge Coach. We’re real people helping drivers everywhere save real money. Check out these uplifting success stories to see how much you could save!
Heading into this summer car buying season, patience will reward shoppers with savings. However, a closer look at market data reveals a shocking reality: deals are very hit-or-miss in 2023. Frankly, your likelihood of buying a new car under MSRP depends on what exactly you’re shopping for. On top of that, notable differences exist between regional markets. To bring much-needed clarity to the car market in 2023, we’re sharing the latest analysis from CarEdge Data. Let’s dive in.
Ford, Ram and GM Can’t Sell Their Expensive Trucks
Among the metrics employed to track the new car market, days’ supply is one of the most widely-used. Through the industry’s ups and downs from 2020 through the present, this data point was the bellwether at every turn. But what exactly is days’ supply, and how is it calculated?
Days’ supply is a calculation used in the automotive industry to determine how long it would take for dealerships to sell their current inventory of vehicles based on the average daily sales rate. It is calculated by dividing the number of vehicles in inventory by the average daily sales rate over a certain period of time.
Historically, a 60 days’ supply is considered normal or average in the auto industry. As we’re about to see, few of the top-selling models in America are anywhere near normal heading into summer.
An Abundance of Trucks, and a Shortage of Affordable SUVs
Are you in the market for a new truck in 2023? We have good news for you. There’s a huge oversupply of trucks in most markets as demand for overpriced inventory dried up earlier this year. Dealers are holding on to their trucks for too long, and with high floorplanning costs, they’re paying the price.
Car dealer floorplanning costs refer to the interest charges that car dealerships incur when they finance their inventory with a line of credit from a bank or a finance company. Essentially, the dealership uses the line of credit to purchase new cars from the manufacturer, and then pays interest on the loan until the cars are sold to customers. The longer the cars sit on the lot unsold, the more interest the dealer has to pay. This is why it’s important for dealers to move their inventory quickly and efficiently.
Examples of Truck Negotiability
We’re seeing truck prices steadily drop in most markets. Check out these examples from CarEdge Car Search. This brand-new Ford F-150 on sale in the Dallas area has had no fewer than four price adjustments in the past few months, yet it remains on the lot after 290 days. The CarEdge Negotiability Score takes into account days on market, local supply, and other factors to give this F-150 a 97/100. The dealer is EXTREMELY likely to negotiate.
This new Ram 1500 on sale near Houston, Texas has been on sale for over 285 days. The dealer has been dreading dropping the price, but seems to have finally given in recently. This is the perfect example of a new truck that would be quite negotiable.
Affordable SUVs and Sedans In Short Supply
Is it any surprise that automakers are making more of their higher margin, expensive models and far fewer of the budget models that most drivers want? The best-selling affordable vehicles all have days’ supply well under the 60 day norm in major markets.
Let’s take a closer look at current new car inventory for the 20 best-selling cars, trucks and SUVs last year. We analyzed inventory in the five largest car markets in the United States. The following data is as-of Apr 26, 2023.
New York-Newark-Jersey City, NY-NJ-PA
Make/Model
Total For Sale
# Sold - 45 Days
Days Supply
Ford F-150 XLT Hybrid
515
138
168
Chevrolet Silverado LT 4WD
1092
276
178
Ram 1500 Big Horn/Lone Star
1182
250
213
Toyota RAV4 XLE Premium
543
876
28
Toyota Camry LE FWD
509
625
37
GMC Sierra Elevation 4WD
508
133
172
Honda CR-V Sport FWD
361
968
17
Toyota Tacoma TRD Off Road 4WD
490
505
44
Tesla Model Y Long Range (used - 2021)
110
23
215
Jeep Grand Cherokee Limited 4WD
328
412
36
Toyota Highlander XLE FWD
1114
1692
30
Toyota Corolla LE
767
829
42
Chevrolet Equinox LS
390
181
97
Ford Explorer XLT
1375
364
170
Tesla Model 3 RWD (used - 2021)
118
20
266
Nissan Rogue SV
1481
1443
46
Jeep Wrangler Unlimited
506
107
213
Hyundai Tucson SEL
1365
1387
44
Subaru Crosstrek Limited
300
754
18
Honda Accord EX
790
617
58
Los Angeles-Long Beach-Anaheim, CA
Make/Model
Total For Sale
# Sold - 45 Days
Days Supply
Ford F-150 XLT Hybrid
832
267
140
Chevrolet Silverado LT 4WD
890
253
158
Ram 1500 Big Horn/Lone Star
908
118
346
Toyota RAV4 XLE Premium
1003
1142
40
Toyota Camry LE FWD
621
683
41
GMC Sierra Elevation 4WD
388
206
85
Honda CR-V Sport FWD
1052
1028
46
Toyota Tacoma TRD Off Road 4WD
585
1737
15
Tesla Model Y Long Range (used - 2021)
82
51
72
Jeep Grand Cherokee Limited 4WD
182
103
80
Toyota Highlander XLE FWD
357
766
21
Toyota Corolla LE
642
950
30
Chevrolet Equinox LS
301
122
111
Ford Explorer XLT
627
198
143
Tesla Model 3 RWD (used - 2021)
63
74
38
Nissan Rogue SV
754
650
52
Jeep Wrangler Unlimited
217
103
95
Hyundai Tucson SEL
284
419
31
Subaru Crosstrek Limited
8
139
3
Honda Accord EX
1020
516
89
Chicago-Naperville-Elgin, IL-IN-WI
Make/Model
Total For Sale
# Sold - 45 Days
Days Supply
Ford F-150 XLT Hybrid
479
211
102
Chevrolet Silverado LT 4WD
546
150
164
Ram 1500 Big Horn/Lone Star
469
66
320
Toyota RAV4 XLE Premium
198
432
21
Toyota Camry LE FWD
113
156
33
GMC Sierra Elevation 4WD
167
69
109
Honda CR-V Sport FWD
125
380
15
Toyota Tacoma TRD Off Road 4WD
289
324
40
Tesla Model Y Long Range (used - 2021)
29
20
65
Jeep Grand Cherokee Limited 4WD
173
119
65
Toyota Highlander XLE FWD
303
637
21
Toyota Corolla LE
214
241
40
Chevrolet Equinox LS
131
203
29
Ford Explorer XLT
572
126
204
Tesla Model 3 RWD (used - 2021)
11
17
29
Nissan Rogue SV
482
405
54
Jeep Wrangler Unlimited
115
31
167
Hyundai Tucson SEL
528
598
40
Subaru Crosstrek Limited
33
229
6
Honda Accord EX
188
185
46
Dallas-Fort Worth-Arlington, TX
Make/Model
Total For Sale
# Sold - 45 Days
Days Supply
Ford F-150 XLT Hybrid
1269
301
190
Chevrolet Silverado LT 4WD
918
176
235
Ram 1500 Big Horn/Lone Star
832
140
267
Toyota RAV4 XLE Premium
134
229
26
Toyota Camry LE FWD
122
199
28
GMC Sierra Elevation 4WD
294
86
154
Honda CR-V Sport FWD
423
260
73
Toyota Tacoma TRD Off Road 4WD
117
173
30
Tesla Model Y Long Range (used - 2021)
19
15
57
Jeep Grand Cherokee Limited 4WD
225
81
125
Toyota Highlander XLE FWD
207
235
40
Toyota Corolla LE
103
191
24
Chevrolet Equinox LS
53
102
23
Ford Explorer XLT
616
114
243
Tesla Model 3 RWD (used - 2021)
24
20
54
Nissan Rogue SV
678
445
69
Jeep Wrangler Unlimited
114
54
95
Hyundai Tucson SEL
253
320
36
Subaru Crosstrek Limited
15
79
9
Honda Accord EX
279
188
67
Houston-The Woodlands-Sugar Land, TX
Make/Model
Total For Sale
# Sold - 45 Days
Days Supply
Ford F-150 XLT Hybrid
1378
352
176
Chevrolet Silverado LT 4WD
894
263
153
Ram 1500 Big Horn/Lone Star
1021
139
331
Toyota RAV4 XLE Premium
192
223
39
Toyota Camry LE FWD
139
151
41
GMC Sierra Elevation 4WD
331
63
236
Honda CR-V Sport FWD
352
322
49
Toyota Tacoma TRD Off Road 4WD
139
216
29
Tesla Model Y Long Range (used - 2021)
27
11
110
Jeep Grand Cherokee Limited 4WD
180
56
145
Toyota Highlander XLE FWD
250
250
45
Toyota Corolla LE
98
150
29
Chevrolet Equinox LS
25
87
13
Ford Explorer XLT
538
147
165
Tesla Model 3 RWD (used - 2021)
23
13
80
Nissan Rogue SV
601
399
68
Jeep Wrangler Unlimited
48
41
53
Hyundai Tucson SEL
194
366
24
Subaru Crosstrek Limited
5
60
4
Honda Accord EX
201
187
48
The trend couldn’t be more clear: there’s a massive oversupply of trucks, and a shortage of popular, more affordable crossovers, SUVs and sedans. Buyers are holding back on truck purchases, yet automakers keep producing more and more. They make less profit per affordable vehicle sold, and in these greedy times, they’re producing less and less of them. We saw it just the other day with the cancellation of the Chevrolet Bolt to make way for $80,000+ electric trucks.
Let’s talk about what you should do to overcome these obstacles when buying in 2023. With a but of insider know-how, buyers still have the upper hand.
With the latest market update in mind, CarEdge co-founder and auto industry veteran Ray Shefska wanted to share these timely recommendations with car buyers.
“My advice for buyers can be summed up in one word, patience. With dealer floor plan costs rising and inventory levels growing, a consumer’s patience should be rewarded with lower prices either via direct discounts from the dealership or in combination with manufacturer customer incentives in the form of rebates. Depending on how we see sales play out for the month of May, lower than what they had hoped for, is my expectation. I would not be surprised to see manufacturers offer both customer rebates and subvented interest rates in May to spur slowing sales. Dealers hate aged new vehicle inventory and with trucks sitting for so long, many dealers will react the only way they know how, and that would be discounting trucks to move them.
PATIENCE is the word of the day.”
Be flexible.
To find the best deals in the current market, car buyers need to be flexible in their choices. Buyers may need to be open to different makes and models to take advantage of the best deals. For example, a buyer in the market for a new Honda CR-V may want to test drive the new Nissan Rogue or even a Ford Explorer, two models with more inventory. If you’re shopping for a model that’s in short supply, now’s probably not the time to be picky about paint color, wheels or other nonessentials.
Do your research.
To make informed buying decisions, car buyers should conduct thorough research on the models they are interested in. With CarEdge Data, buyers can access valuable information on depreciation, resale value, and more. Armed with this knowledge, buyers can negotiate better deals and avoid being taken advantage of by car dealerships. Don’t make a hasty decision – take the time to do your research and make an informed choice.
