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Despite an abundance of inventory and high interest rates, new car prices keep rising. Many automakers are increasing the starting prices of their vehicles at a pace that far exceeds inflation. Time and time again, we’ve seen automakers drop affordable base models, despite consumer appetite for cheaper options. Here are 10 models with the biggest MSRP increases in 2024, and how you can still negotiate a better deal.
Cadillac CT5 – Up 23%
2025 Starting MSRP: $48,990 (+$9,200)
2024 Starting MSRP: $39,790
The Cadillac CT5’s price hike is one of the most significant this year. With nearly a $10,000 increase, luxury buyers might need to reconsider their budgets.
The good news for buyers is that Cadillac inventory remains above average, and that lends to negotiation leverage. There’s an 87-day supply of new CT5s on Cadillac dealer lots. There’s no shortage of this luxury sedan and smart buyers should use this to their advantage.
You’ve likely seen the completely redesigned 2024 Hyundai Santa Fe on the road by now. Some say it looks stellar, while others call it a wannabe Land Rover. No matter what you think about this popular SUV, it’s a lot more expensive than it used to be. For the redesign, Hyundai added over $5,000 to the base MSRP of the Santa Fe.
Ford’s popular F-150 Lightning XLT became a lot more expensive for the 2024 model year. We may be well into 2024, but Ford dealers are still clearing out 2023 inventory. It’s not exactly in high demand, with a current market-day supply of 114 days.
Nissan has been trying to make headway into the American truck market for years now, to very limited success. The automaker sold just 19,189 copies of the Titan in the United States last year. Compare that to the Ford F-Series’ 750,000 units sold, and it becomes laughable that prices jumped 13% year-over-year.
And get this: There’s nearly a year of Nissan Titan supply on dealership lots today. We STRONGLY encourage negotiating Nissan Titan prices. It’s a buyer’s market!
Volvo’s compact SUV, the XC40, sees a noticeable price increase this year. The XC40 is already a slow-seller, with nearly triple the average new car supply today. Volvo’s US market share has been flat for the past several years. Will higher prices change that? We doubt it.
The entry-level luxury SUV, the Mercedes-Benz GLA, starts at a higher price in 2024. GLA sales have fallen slightly over the past year, so perhaps MB is rethinking the 11% price bump.
The Nissan Armada’s higher price in 2024 is not translating to more sales. There is a 222-day supply of the new Nissan Armada in May, meaning that inventory is nearly triple the industry average. Buyers just might be pushing back against higher prices, and perhaps giving the competition a closer look.
Volvo’s midsize SUV, the XC60, has also seen a price increase. Known for its comfort and advanced safety features, the XC60 continues to appeal to those looking for a premium SUV, despite the higher price tag. Today, the XC60 sells in higher numbers that the XC40, and that wasn’t always the case.
It’s the best-selling truck in America, but it’s not the most affordable. The base Ford F-150 sees a modest price increase for 2024. However, the more popular Lariat has received a nearly $8,000 price hike for 2024, now starting at $67,190. Ford has finally cleared out most remaining 2023 inventory, so expect to see more 2024s on dealer lots. At least low-APR financing offers make the price hikes more manageable.
The luxury SUV segment sees the Mercedes-Benz GLE with nearly a $5,000 price increase. Its blend of luxury, technology, and performance makes it a top choice among luxury buyers. However, GLE sales fell 8% in the US last year, so it’s a wonder that prices were hiked so much.
The trend of rising car prices shows no sign of slowing down in 2024. While these increases might seem daunting, empowered buyers can still find ways to negotiate better deals. Staying updated on price trends and being prepared to negotiate are key strategies in this evolving market. Luckily, CarEdge has 100% free resources to get you there!
Download Your FREE Car Buying Cheat Sheets
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!
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Historically a prime time for deals, 2024 Memorial Day truck sales are shaping up to be particularly great. This year, elevated levels of new truck inventory and the hefty floorplanning costs faced by dealers are creating the perfect storm for big discounts. If you’re in the market for a new ride, and can’t afford to wait for year-end truck deals, now could be your best chance at a bargain. These are the best Memorial Day truck sales for May 2024, available today.
Current Market Day Supply: 103 days (holding steady)
Negotiability Score: High
2024 Sierra 1500: 1.9% APR + $3,250 cash allowance + NO payments for 90 days.
For remaining 2023 Sierra 1500s, get up to $8,000 in cash incentives.
GMC is offering one of the best truck deals for Memorial Day. With 1.9% APR, a generous cash offer, and no payments for three months, buyers can save several thousand dollars. If you can find a remaining 2023 model, you’re likely to rake in even bigger savings. This offer expires on 6/3/2024. Learn more at GMC.com.
With 109 days of market supply, there’s an abundance of 2024 Silverado 1500s on Chevy dealer lots. At a time when the average new car loan rate is near 10%, this 1.9% APR offer is a great deal that will save you big time over the long run. This offer expires on 6/3/2024. Learn more at Chevrolet.com.
Current Market Day Supply: 61 days (trending down)
Negotiability Score: Low
Toyota Tundra (2024s and remaining 2023 models): 3.99% APR for 60 months, or just 1.99% APR for 48 months.
With just 61 days of market supply, the Toyota Tundra is the least negotiable truck on sale today. However, Toyota being Toyota, they’re still offering a compelling financing deal for Memorial Day. While the Tundra’s 3.99% APR is not quite as great as the offers from GMC and Chevrolet, it’s still a great interest rate if you prefer this truck. This offer expires on 6/3/2024. Learn more at Toyota.com.
Current Market Day Supply: 111 days (holding steady)
Negotiability Score: High (2023 models), Average (2024 models)
Remaining 2023 F-150 models: 1.9% APR for 72 months
New 2024 F-150 models: 3.9% APR for 60 months
The best-selling truck in America is building up on dealer lots as the cost of financing discourages many buyers. In fact, thousands of brand-new 2023 models remain unsold, so Ford’s Memorial Day sales are out to change that. These offers expire on 6/2/2024. Learn more at Ford.com.
5.9% APR financing for 84 months + up to $3,590 in cash savings
Nissan is aggressively pursuing a larger share of the U.S. truck market, though with mixed results. Their previous zero percent financing campaign has ended, but they’re now offering a variety of cash incentives that could save buyers up to $3,590.
For truck buyers who need a longer loan term, Nissan’s 84-month loan offer at 5.9% could save buyers a few thousand dollars in interest versus financing through a bank. However, we advise shorter loan terms when possible to save on interest. This offer ends on May 30, 2024. Learn more at NissanUSA.com.
Tired of negotiating, dishonest pricing, and all of the back-and-forth that comes with buying a new truck? Let us do it for you! Learn more about CarEdge Concierge. It’s your ticket to saving more, and stressing less! Home delivery is available.
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As summer 2024 approaches, more drivers are wondering if now is a good time to buy a used car. When it comes to the used car market, the details matter. With the average listing price hovering around $25,540, nearly unchanged from the start of the year, it might seem tough to get a deal. But the price is only half the battle, as you’re about to see.
Let’s dive into the details.
Three Crucial Considerations for Used Car Buyers: Credit Score, Budget, and Timeline
1. The Importance of Credit Scores in 2024
Does Credit Score Matter in 2024?YES. Knowing your current credit score will help you plan for the cost of financing. Planning to pay cash? GREAT! But if not, lenders will use your credit score and debt-to-income ratio to determine if you qualify for a car loan.
In fact, your credit score can help you determine if now is a god tiod time to buy a used car, or possibly even the worst time. Used car loan rates now average north of 13% APR. But that’s just the average. Shoppers with lower credit scores (under 650) will only qualify for higher rates, perhaps approaching 20% APR for the lowest scores, if you can get qualified at all.
Check out the 2023 data from Experian via MarketWatch to see the average auto loan rates by credit score. This is very similar to what shoppers should expect today, as rates have remained high over the past year.
How much does interest rate matter with a used car loan? Let’s look at a realistic example. With a $30,000 car loan over 72 months, the difference in interest paid between a loan at 5% APR and one at 15% APR is substantial. It’s always best to opt for a shorter loan term, but we’ll use this example since more drivers are stretching out their payments as prices rise.
What’s the difference in interest paid? With a 5% APR, you would pay approximately $4,776 in interest over the 72 months of the loan. However, at a 15% APR, the interest spikes to $13,632, resulting in an additional $8,856 in interestcosts. This highlights the significant financial impact that APR can have on the total cost of a loan.
No matter when you get serious about buying, DO NOT overlook the power of having a good credit score. It’s the difference between paying a little interest, and eye-gouging amounts owed month after month.
For more about what credit score car dealers and banks use, check this out.
2. Know Your Budget
The reality of 2024 is stark: cars are more expensive, and finding a reliable, low-mileage vehicle under $10,000 is virtually impossible. According to research from iSeeCars, while 49.3% of all used cars were priced under $20,000 in 2019, today that number stands at just 12.4%.
Before you fall in love with a make or model, use tools like CarEdge’s Car Search to set realistic expectations and shop within your means.
If you’re not in urgent need of transportation, waiting might be wise. We anticipate used car prices could drop an additional 2-5% later in the summer and potentially even more towards the end of the year. Delaying your purchase could save you thousands, especially if interest rates begin to decrease as predicted. Although with inflation staying stubbornly high, the general consensus is that interest rates will remain at current levels for at least a few more months, if not longer.
So Is Now a Good Time to Buy a Car? CarEdge’s Advice for 2024
Deciding whether to buy a used car now or later in 2024 boils down to your personal circumstances—your budget, your credit score, and how urgently you need a vehicle. If your situation allows, waiting a few months could be financially beneficial, both in terms of lower prices and potentially reduced interest rates. This is especially true if you could use more time to improve your credit score. Qualifying for the best rate possible will save you thousands in interest payments with most used car loans today.
However, if you need a car soon, finding a well-priced deal now is possible IF you’re prepared to negotiate. Check out the free tools below! And remember to use CarEdge Insights to equip yourself with local car market data. You’ll negotiate like a pro in no time!
So overall, is now a good time to buy a used car? The answer is that it’s an okay time, and better times are ahead once prices drop further, and these insanely high interest rates come down. But the future is notoriously hard to predict. If you need a ride quickly, you CAN score a deal with negotiation know-how.
Free Car Buying Help Is Here
Navigating the used car market can be complex, but with CarEdge, you’re never alone. 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!
Stay tuned to CarEdge for more insights and tips on car buying in 2024!
Shopping for a new car is an exciting time, but knowing which brands to steer clear of can save you from a lot of future headaches. At CarEdge, we’re diving deep into rankings from Consumer Reports, and complimenting their legendary work with our own car market updates from CarEdge Insights. Here’s a breakdown of the 10 least reliable car brands in 2025. If you buy one of these cars, you ought to have a car maintenance emergency fund at your disposal, or start getting quotes for extended warranty protection!
Consumer Reports’ 2025 Reliability Rankings: The Least Dependable Car Brands
We hope you enjoy the real-time car market data we’ve included. Head over to CarEdge Insights for localized data that YOU can use to negotiate effectively.
Consumer Reports provides an annual snapshot of car reliability, all based on data from over 300,000 vehicles that addresses 17 common trouble areas. The non-profit has been helping car buyers make smart choices for 88 years. In 2025, the CR rankings reveal a few brands that, well, might not be your best bet if reliability tops your priority list. For comparison’s sake, we’ve also included the number of recalls for each manufacturer over the past year ending in January 2025, via the NHTSA.
Although Rivian is the least reliable car brand according to Consumer Reports, all GM brand rank near the bottom. Here’s a look at the car brands most likely to give you problems during ownership.
The Least Dependable Car Brands Surprisingly Don’t Have Much In Common
From frequent breakdowns to excessive recalls, these brands show various signs of potential trouble for consumers. Surprisingly, the least reliable car brands are often expensive. With the likes of Rivian, Tesla, Volvo and Volkswagen on the list, it’s clear that when it comes to reliability, you don’t always get what you pay for.
Other than that, we see a mix of manufacturers from around the world on this unfortunate list. In a massive improvement from last year, only one Stellantis brand is on the list. General Motors, on the other hand, had falling reliability ratings, with three of the four GM brands on the bottom 10. Chrysler, the only GM brand not making an appearance, wasn’t rated by Consumer Reports due to ‘insufficient data’.
According to Consumer Reports, hybrid vehicles lead the pack among electrified powertrains in terms of reliability. “On average, hybrid powertrains remain reliable, while pure electric vehicles (EVs) and plug-in hybrid vehicles (PHEVs) are improving despite continuing reliability problems.”
On the other hand, plug-in hybrid vehicles tell a different story, facing 70% more issues than gasoline (ICE) vehicles. Consumer Reports found that fully electric vehicles (BEVs) have 42% more problems than gas-powered or traditional hybrid vehicles. This is a big improvement from last year, when EVs had 79% more issues than ICE vehicles.
Want Free Car Buying Help in 2025?
While it’s crucial to consider reliability, don’t forget to weigh other factors such as fuel efficiency, safety features, and overall cost of ownership. Check out our detailed CarEdge cost of ownership rankings to get a fuller picture.
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!
As we enter the heart of spring, car shoppers have every reason to mark their calendars for Memorial Day weekend (May 25 – May 27). Traditionally a hotbed for great car deals, 2024’s Memorial Day sales are poised to be especially big. This year, high new car inventory levels and expensive floorplanning costs for dealers are setting the stage for big bargains.
Inventory Is Still High, and That’s Good News For Buyers
Most automakers are grappling with unusually high levels of new car inventory. According to Cox Automotive, April opened with 72 days of new-vehicle supply industry-wide, a notable increase of 46% compared to a year ago. This glut stems largely from a mismatch between production outputs and a softening consumer demand, influenced by lingering economic uncertainties, high interest rates, and in many cases, ridiculously high MSRPs.
This overstock is particularly pronounced in the truck, SUV, and luxury vehicle sectors. While sales in 2024 are indeed picking up—showing an 11% increase in March compared to the previous year—the rising sales figures are not enough to offset high inventory levels. But that’s what OEMs hope to change with May’s best car deals.
Last Year’s Models Are This Year’s Deals
Manufacturers are under pressure to clear out 2023 models, four months into the new year. In late April, 300,000 of the nearly 3.1 million new cars for sale in America were 2022 or 2023 models. Many of them are trucks like the Ford F-150 and Ram 1500. Even with thousands of 2023s on dealer lots, manufacturers are flooding dealer lots with more inventory (more on that here).
This pressure is not just a warehouse issue; it’s a financial imperative. High floorplanning costs driven by stubbornly high interest rates are eating into dealer profits, adding to the sense of urgency.
Car Brands On Track For Big Memorial Day Sales
Despite the modest gains in sales, certain brands like Ram, Jeep, Mazda, Ford, and Nissan are facing significant inventory excesses compared to their competitors. These brands are likely to offer bigger discounts for Memorial Day as they strive to sell cars.
Car brands with less inventory include Toyota, Subaru, and Honda. These brands are less likely to offer big incentives in May.
Low APR deals are a win-win for both dealers and buyers. For dealers, it’s about liquidating stock without slashing sticker prices dramatically, which can devalue the brand. For buyers, these subsidized rates lower the monthly payment, making an upgrade more feasible. Expect to see APR offers as low as 0% for qualified buyers on select models, alongside generous cash-back offers and lease deals.
In fact, there are already several 0% APR offers on the market today…
As we inch closer to Memorial Day, certain vehicles stand out for their negotiability. While the specific models and deals will be confirmed as the holiday approaches, here are some categories to watch:
Last Year’s Inventory: Memorial Day car sales are the manufacturer’s best chance to clear out the last of 2023’s remaining inventory. Expect crazy deals on these, especially trucks and the most negotiable electric vehicles.
Truck Deals: Automakers have simply priced new trucks too high, and buyers are pushing back. This has led to an oversupply of new trucks on dealer lots. Expect big deals on the Chevrolet Silverado 1500, Ram 1500, and Ford F-150. In fact, there are already some great low APR offers out there. Check out the truck deals here.
Electric Vehicles: Despite their steadily growing popularity, certain EV models are still struggling to find their market footing, leading to potentially larger discounts. The Ford Mustang Mach-E and F-150 Lightning, Nissan Ariya, and electric offerings from Hyundai and Kia are all slated for big discounts and low APR offers in May.
Gear Up for the Deals
This Memorial Day, CarEdge is your go-to resource for navigating these sales. Not only will we provide a one-stop resource for the best car sales, we’ll also share car market insights that you won’t find anywhere else. 👉 Bookmark this page and check back in early May to see what automakers have to offer!Head to this page for the best deals right now, no matter when you’re reading this.
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