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.
As 2024 winds down, car buyers have a golden opportunity to secure deep discounts on these sedans. With high market day supply, slow sales, and even remaining 2023 models, these are the most negotiable cars for year-end shoppers.
With a market day supply of 269 days—186% above the national average—the Hyundai IONIQ 6 tops the list of most negotiable cars for 2024. As of late October, 6,339 units remain on sale, including 389 new 2023s still sitting on dealer lots. In the weeks ahead, buyers should aim for significant discounts given the IONIQ 6’s oversupply.
Right now, Hyundai is offering 0% APR for 48 months and up to $7,500 in cash savings. For fans of leasing, Hyundai is offering an IONIQ 6 lease deal of just $199 per month for 24 months with $3,999 due at signing.
The luxury Alfa Romeo Giulia is next on the list, with a 210-day supply of inventory—123% higher than the national average. This translates to 1,006 cars sitting unsold at dealerships, providing plenty of opportunities for negotiation. Alfa Romeo has plenty of unsold 2023s models awaiting buyers, as do all Stellantis brands.
The Giulia comes with strong leasing offers this month, including a lease of $499 per month for 42 months with $5,900 due at signing.
Considering the abundance of inventory and ongoing year-end sales, Alfa Romeo is motivated to clear out these remaining 2024 models, making this an excellent time to strike a deal on this premium sedan.
Affordable yet slow-selling, the Mazda 3 sedan presents an attractive option for bargain hunters. With a market day supply of 132 days, Mazda 3 inventory is 40% above average, with over 11,000 units on sale. The average selling price for a new Mazda 3 is $28,702, or about $20,000 below today’s average new car price. Better yet, the 3 maintains an above-average resale value.
This month, Mazda is offering both financing and lease deals to move inventory off the lot. Financing deals include 0% APR for 36 months plus $500 in cash savings. For those looking to lease, Mazda’s lease offer of $239 per month for 33 months with $4,419 due at signing is another solid option. With its affordable price tag and plenty of inventory, buyers have great leverage for negotiation on this reliable sedan.
The Hyundai Sonata has a 121-day supply with 13,340 units waiting to be sold. With an average selling price of $30,732, year-end buyers can expect excellent incentives to help Hyundai move this oversupply before the new year.
In October, Hyundai’s current promotion includes financing offers as low as 2.99% APR for 60 months or a Sonata lease offer of $229 per month for 36 months with $3,499 due at signing. If you’re looking for a practical sedan with great features, the Sonata is positioned to be a strong year-end deal for 2024.
Finally, the Nissan Altima rounds out the list with a market day supply of 119 days. Saying that there’s an oversupply of Altimas would be an understatement. Today, there are 18,292 units for sale in America.
The Altima’s declining sales over the past decade have forced Nissan to offer generous discounts, making this a great choice for year-end buyers eager to negotiate a deal. In fact, Nissan is already offering zero percent financing for 36 months plus $1,000 in cash savings. For those who prefer a lease, Nissan is offering an Altima lease deal for $269 per month with $3,209 due at signing.
As 2024 comes to a close, car buyers should focus on negotiating great deals on these highly negotiable models. With oversupply and slow sales, it’s entirely possible to secure 15% or more off the original MSRP on these sedans, especially as dealerships are eager to clear inventory before year-end.
Ready to master the art of negotiating a car deal with confidence? Sign up for Deal School, our 100% free, self-paced online course taught by CarEdge Co-Founder Ray Shefska!
2024’s year-end car deals are set to be some of the best in years. Starting with Black Friday and continuing through December, the best time to buy a car is here. With a surplus of inventory, falling interest rates, and holiday sales, dealers and OEMs are motivated to sell. If you’re in the market for a new car, this is the time to pay attention.
Interest rates are expected to gradually decline in late 2024 after hitting a peak earlier in the year. As rates soften, automakers will be offering low APR deals and special financing options to lure buyers who have held off due to high borrowing costs. This means dealerships will be motivated to offer better terms to close sales by the end of the year. This will especially benefit car buyers looking to finance at lower rates.
In 2024, the auto industry is facing a glut of unsold vehicles. Improving supply chains, rising interest rates, and fewer buyers are creating a buyer’s market. Dealerships are sitting on excess inventory that they need to clear out to make space for 2025 models. As year-end car deals approach, buyers will see more competitive pricing and deeper discounts.
Slowing Car Sales Bring Big Manufacturer Incentives
Several automakers are struggling with declining sales in the U.S. market, which will likely trigger bigger incentives for buyers during year-end promotions. For example, Stellantis reported a 20% drop in Q3 2024 U.S. sales, leaving a large inventory to clear by year’s end.
Nissan, with an oversupply of Rogues, Frontiers, and Pathfinders on dealer lots, is already ramping up its discounts. Even Ford has seen flat sales, suggesting that more aggressive offers will be needed to boost year-end purchases. Expect major automakers to offer compelling financing options, cash discounts, and attractive lease deals on their remaining 2024 models.
Holiday Season Always Means Car Sales
Each year, the holiday season kicks off some of the best car deals, as both manufacturers and dealers know that consumers are more inclined to make big purchases. December is traditionally a month of heavy promotions, and after years of holiday sales conditioning, buyers often wait for year-end sales. As dealerships try to hit their annual sales targets, holiday incentives mean larger savings for shoppers who know where the deals are.
Some Car Buyers Shouldn’t Wait
While the biggest deals usually arrive in late December, 2024’s current zero-percent APR offers and low-payment lease deals make waiting unnecessary for some buyers. If you spot a deal now that fits your needs and budget, locking it in today could be a smart move. With interest rates stabilizing, locking in a great finance offer now might beat the crowds rushing for year-end car sales.
In summary, 2024’s year-end car deals are expected to be huge. Automakers are pushing to clear high inventory levels as 2025 models rush in, and dealerships are feeling pressure to meet their sales targets. The combination of falling interest rates, manufacturer incentives, holiday promotions, and excess stock makes this December a golden opportunity for car buyers. If you find the perfect deal now, don’t hesitate—but if you can wait, December’s deals could save you even more.
When consumers buy hybrid or electric cars, they typically do so with a greater purpose. Either they wish to help the planet by limiting the burning of fossil fuels and reducing emissions, or they want to save money at the pump. Many would consider themselves early adopters of new technologies, always eager to try the latest tech. But are hybrids and EVs better for your wallet? Considering resale value, are they a risky purchase? We will take a look at how hybrids and electric vehicles perform when it comes to the latest depreciation numbers.
CarEdge has calculated the annual depreciation of popular car models on sale in the United States. This free data available on the CarEdge Research Hub is extremely valuable for car shoppers. With these insights, it’s possible to determine which cars have historically been relatively good investments, and which ones have been underperformers.
Let’s start with the bad news for electric vehicle owners: some models are performing poorly in terms of value retention. Topping the list is the Tesla Model X, which retains just 43.15% of its value after five years, meaning it depreciates by 57%. The Tesla Model S follows closely with a 5-year residual value of 43.49%. Similarly, the Nissan LEAF depreciates by more than half, with a 5-year residual value of just 45.56%. These EVs, despite their fuel efficiency, lose significant value over time, outpacing any potential fuel savings.
The Better Performers
On the other end of the spectrum, some hybrids and electrics hold their value exceptionally well. Leading the pack is the Toyota Prius, with a remarkable 5-year residual value of 68.92%, making it one of the best vehicles for resale, hybrid or otherwise. The 2025 Toyota Camry, now exclusively available as a hybrid, also shines with a 5-year residual value of 65.09%. Both models offer exceptional fuel efficiency and long-term financial value, making them solid investments for those who prioritize fuel savings and resale value.
What About Tesla?
No article about hybrids or electric cars would be complete without a commentary on Tesla. With such, we will tell you that the Tesla Model S – the only Tesla qualifying for 5-year results – ranks 75th overall among luxury cars. The Model S, which cost roughly $90,000 when purchased in 2019, is today worth 43% of it’s value as new, being worth about $40,000 in 2024. Losing $50,000 of value is never fun, but that was the cost of being an early-adopter five years ago. Our take is that Tesla deserves credit for producing a fully-electric car, and still having it be worth something meaningful with its technology 5 years old, and after you’ve put some significant miles on it.
The Bottom Line
Our take on whether hybrids and electric cars offer good resale value can be summed up with a classic “it depends.” Some models, like the Toyota Prius and Camry Hybrid, have proven to retain their value remarkably well, making them smart investments when paired with fuel savings. On the other hand, vehicles like the Nissan LEAF and Tesla Model X suffer significant depreciation over time, despite their tech-savvy appeal. The smart car shopper will always do their homework, assess depreciation trends, and choose wisely to maximize value retention over time.
Whether you’re considering a lease for your next car or currently have a car on lease, you’re probably aware that a lease gives you no ownership. However, many dealerships processing end-of-lease returns neglect to mention an important detail. In some cases, when a lease is returned, the car has equity on it worth hundreds or even thousands. It’s called lease equity, and it’s money that should go in your pocket.
What lease equity means
When you lease a car, you don’t get to drive it as much as you want. Rather, the lease is made out for a specific mileage level. Depending on the model and contract, you could be allowed anything from 30,000 miles to 60,000 miles in the three years that you keep the car. If you go over your mileage limit, you will be charged for overages when it’s time to return the car at the end of the 36-month lease period. This can be an expensive miscalculation on your part, so be careful to not exceed your mileage limit, unless you’re prepared to pay up at the end.
Should the opposite happen – if you manage to drive less than you’re allowed – you’ll have ended up paying more for the car than you’ve actually used. It’s this difference that makes up the equity that you have in your car. When the dealership sells the car on the used market, they are likely to get more than they originally hoped for, as they expected the car to have more mileage. They should give you a share of this windfall. Depending on the model and how many miles you’ve managed to save, you could have equity worth a substantial sum of money in the car.
What do you get for lease equity?
Most dealerships don’t pay cash for the lease equity that your car brings them. Rather, they offer to give you credit that you can put towards your next lease, buying a new car, or even if you decide to buy the leased car outright. That’s always an option. Unfortunately, dealerships are often less than upfront about lease equity, and often fail to bring up the subject in the hope that their customers won’t know enough to ask.
Before you hand in the key at the end of your lease, it’s important that you look at the odometer and determine how many miles you’ve saved. If you’re under your lease mileage allowance, you should bring it up when it comes time to give back the car. Doing so could save you a lot of money in the form of a hefty discount on your next car.
You should never buy a car without first taking it for a test drive. If you are new to the car buying game, you may not know what to watch out for during a test drive. Here are four things to pay attention to when you test drive any vehicle.
1) Test all of the features
A modern car is loaded with screens, knobs, and buttons. You may not need them most of the time, but you should be confident that they will work if and when you do need them. Before you begin your test drive, try out all of the various tools and accessories in the vehicle, such as windshield wipers, seat adjustments, mirror adjustments, window controls, radio controls, and even the sound system.
If the car salesman tries to rush you, kindly let them know that you will need some time to review everything, and that when you are done, you will seek them out for your test drive. If everything works well, it’s a good sign; if not, you’ve got a list of things to review with them. Remember, you are likely buying the car as-is, so discovering that the defroster motor doesn’t work, after the fact, may cost you.
2) Don’t stick to predetermined routes
When you are out on a test drive, the sales associate who rides along may try to persuade you to do a quick drive around the block before heading back to the lot. However, this route most likely won’t allow you to gain a complete understanding of the car’s performance. The best way to do so is to test drive it on an unplanned route that includes both highway and city driving. This will allow you to get a better understanding of how the vehicle accelerates, how the brakes perform, and the ease with which it turns in tight corners. Drive the car the way you would drive it everyday.
3) Connect your smartphone
Smartphone connectivity has become one of the top features that potential car buyers look for. Not all cars have Apple CarPlay or Android Auto. The ease with which you can connect your phone to the vehicle can vary quite a bit from one car to the next. Depending on the car you are in, you may be able to connect your smartphone with a simple touch, or you may have to navigate through menus to accomplish the task. Test the smartphone connectivity as a part of the test drive. There’s nothing more frustrating than not being able to listen to your music when you get a new car.
One important note: don’t forget to unpair your phone when you’re done!
4) Understand the new tech
If you are upgrading your car, you may encounter a host of new tech features that weren’t there in your previous vehicle. These may include adaptive cruise control, lane-keep assist, automatic emergency braking, and even more advanced tech like Autopilot. Take the time to understand them and test them out before you make your purchasing decision.
Don’t rush through the test drive
Test driving a car is one of the most important steps in the car-buying process. By taking the time to test all the features, choosing a diverse driving route, connecting your smartphone, and understanding the new technology, you can make a more informed decision and avoid surprises later on. Remember, you’re not just test driving for a quick feel; you’re assessing how well the car fits your daily needs. The more thorough you are, the better chance you have of finding the right vehicle for you.
CarEdge Insights
