Insider Negotiation Tips for the 10 Best-Selling Cars & Trucks

by Justin Fischer | Last updated May 3, 2023 | Car Buying, New Cars

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 Pro 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.

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.

See F-150 listings with no ads and local market data.

Chevrolet Silverado

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.

See Silverado negotiability with these local listings.

Ram 1500

The Ram 1500 is one of the most negotiable trucks today, with an average discount of around 10% off the MSRP. It’s commonplace for 2022 and 2023 Ram trucks to exceed 120 days supply, which is twice the norm. Here’s our recent report on today’s especially negotiable truck prices.

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.

See how negotiable Ram trucks are with these local listings.

Tesla Model Y

Tesla sells direct-to-consumer, so there’s no negotiating new Tesla prices. However, used Tesla’s are negotiable as the automaker continues to drop prices for new cars. Here’s our used Tesla price forecast for 2023.

Be on the lookout for severely overpriced used Model Ys, as dealers try to cover their losses on plummeting used Tesla values.

See Model Y listings near you.

Toyota RAV4

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.

See RAV4 listings near you, with ZERO ads and local market data.

Nissan Rogue

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.

See Nissan Rogue listings near you.

Honda CR-V

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.

See CR-V listings near you, with ZERO ads.

GMC Sierra

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.

See Sierra listings near you.

Toyota Camry

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.

See Camry listings near you.

Tesla Model 3

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. 

And for even more personalized guidance, consider partnering with a CarEdge Coach – our team of experienced car buying experts who can provide you with 1:1 support throughout the car buying process. Don’t overspend on your next vehicle – here’s how much drivers are saving with CarEdge tools and expert help!

Negotiate Truck Prices Today; Here’s How to Navigate SUV Shortages

by Justin Fischer | Last updated May 4, 2023 | Car Buying, New Cars

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.

Here’s the car buyer’s guide to auto sales jargon and terms to know.

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. 

This includes the following best-sellers:

• Toyota RAV4
• Toyota Camry
• Honda CR-V
• Toyota Highlander
• Toyota Corolla
• Chevrolet Equinox
• Hyundai Tucson

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

Los Angeles-Long Beach-Anaheim, CA

Chicago-Naperville-Elgin, IL-IN-WI

Dallas-Fort Worth-Arlington, TX

Houston-The Woodlands-Sugar Land, TX

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.

Here’s the latest new car inventory numbers (nationwide).

Advice For Car Buyers in 2023

Be patient.

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.

See behind-the-scenes local market data with CarEdge Car Search.

Unlock Premium Car Market Data Today

If you’re in the market for a new car in 2023, it’s more important than ever to make informed buying decisions. With CarEdge Data, you can access proven data on depreciation, resale value, and more to ensure that you get the best deal possible. Don’t let car dealerships take advantage of you – empower yourself with CarEdge Data today.