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The 5 Best Electric Vehicle Lease Deals in April 2025
More drivers are warming up to the idea of electric vehicles, yet, for many, the high purchase price of EVs is too much. On top of that, EVs depreciate faster than other types of cars, leaving many buyers without equity for years to come. The best electric vehicle leases provide a great way to avoid these two obstacles. By leasing, you experience the cutting-edge technology of EVs without the long-term financial commitment. By the time your lease ends, electric mobility will be miles ahead of today’s car models.
These aren’t just the cheapest EV leases available right now. Instead, we’ve curated this list of the BEST EV lease deals in April 2025. What’s the difference? All of these electric cars and SUVs offer fast charging, plenty of range, and high driver satisfaction. Note that these manufacturer lease offers exclude tax, title, and fees. The dealer sets the final price.
👉 Not sure if leasing is for you? Be sure to check out The Consumer’s Guide to Leasing.
The Best EV Lease Deals in April
2024 Kia EV6 Light Long Range
Best Lease Deal: $179/month for 24 months with $3,999 due at signing.
The Kia EV6 is one of the fastest-charging EVs available today, period. In face, it’s the fastest-charging EV on sale in 2024 for under $50,000, on pace with the Hyundai IONIQ 5 and Tesla’s most affordable models. For those interested in buying, the EV6 is available with zero percent financing for 72 months right now.
This offer ends on 4/30/2025. See offer details.
Browse Kia EV6 listings with the power of local market data
2025 Tesla Model 3
Best Deal: $299/month for 36 months with $1,000 due at signing.
The Tesla Model 3 is still the king of EVs. Even as sales growth stalls, it’s still Tesla’s market. Legacy automakers can only hope for second place. The main Tesla advantages in 2025 are the vast Supercharger network, and the ease of over-the-air software updates for feature upgrades and recall fixes. The newly-refreshed Model Y is also available with great lease terms.
See offer details at Tesla.com.
Browse used Tesla listings before buying new
2025 Chevrolet Equinox EV 2LT
Best Lease Deal: $299/month for 24 months with $4,169 due at signing.
The Chevy Equinox EV is one of the best cheap EVs on sale in April 2025. InsideEVs recently awarded the Equinox EV with their ‘Breakthrough EV of the Year‘ award. Despite more recently arriving, the Equinox EV is outselling the Chevrolet Blazer EV by a wide margin. The Equinox EV also has 0.9% APR for 60 months for those wanting to buy.
This offer ends on 4/30/2025. See offer details.
Browse Equinox EV listings with the power of local market data
2024 Honda Prologue Touring
Best Lease Deal: Lease the Honda Prologue front-wheel drive Touring from $239/month for 24-36 months with just $3,199 due at signing.
Honda went from zero EV sales to having one of the top-selling models in America. This is a stark contrast with Toyota, who has struggled to sell the less impressive bZ4X electric crossover.
This offer ends on April 30, 2025. See offer details.
Browse Honda Prologue listings with the power of local market data
The Easiest Way to Buy an EV in 2025
Leasing an EV is the best way to try out the electric vehicle lifestyle without the hefty price tag and long-term commitment. Our rundown of the top electric vehicle leases offers insights into deals that provide both value and quality.
👉 Tired of car buying hassles? Let a professional do it for you! Learn more about CarEdge Concierge, the most-trusted car buying service out there!
Never Answer These Questions When Buying a Car
Stepping into a car dealership can feel like entering a high-stakes poker game, but with the right guidance, you can confidently call their bluff. CarEdge’s Ray Shefska lifts the veil on dealership tactics with secrets from his impressive 40+ year tenure in the industry. While maximizing profits is part of their playbook, you don’t have to be an unwitting participant. With CarEdge by your side, here are the pivotal questions and strategies to empower your negotiations.
Part One: Negotiating with the Salesperson
- “Do you have a monthly budget in mind?“
Correct answer: I have a total out-the-door price in mind. I’d like to stay focused on that.
Wrong answer: Yes, I don’t want my monthly payment to be more than $700 per month.
Why: Once the dealer knows what your monthly payment goal is, they immediately start thinking about how much wiggle room they have for add-on products, incentives and other odds and ends of the deal. Once you share your desired monthly payment, you’ll be negotiating that number for the rest of the deal. This makes it alarmingly easy to lose sight of how much you’re actually paying for the car.
- “How much cash do you plan to put down?“
Correct answer: I just want to know what the out-the-door number is, can we stay focused on that for now?
Wrong answer: I think I could put between $5,000 and $10,000 down. It depends on what the price of the car is, and how much you give me for the trade-in.
Why: This question is another tactic the salesperson uses to turn you into a ‘payment buyer’. Yes, you’ll eventually have to tell them what your down payment is, but do NOT volunteer that information too early in the negotiation! Car dealership salespeople are going to.
Note: Often, the salesperson will phrase this question as if it’s coming from the bank. For example, “The bank typically wants you to put 20% cash down or more. Were you planning on doing that?” You can still refuse to answer this question early on in the conversation. Remember, you’re still trying to get the out-the-door price from them. That’s the number that matters.
- “I see you drove a nice car here today. Will you have a trade in?“
Correct answer: I haven’t decided yet. Once we’ve established an out-the-door number, we can discuss things like that.
Wrong answer: Yes of course, how much can you give me for it?
Why: You should always treat buying a car and trading in as TWO separate transactions, because they truly are. See what your car is worth with offers from multiple online buyers here.
Part Two: The Finance Office
These are the questions you’re most likely to encounter at the finance office. For even more tips, examples and advice, see our Finance Office Cheat Sheet. It’s one of our many free resources!
- “Have you thought about what loan term you’d be happy with?“
Correct answer: I have thought about this and I’ve even been pre-approved with competitive credit unions, so I do understand what my loan terms should be in order to keep my payment affordable.
Wrong answer: No, I haven’t thought about it yet. Can you help me lower my payment even further?
Why: When you express uncertainty about your desired loan term, finance managers spot an opportunity to manipulate the loan term to make a deal appear more attractive. By extending the loan term, they can “lower” your monthly payments, even if it ends up costing you more in the long run due to interest.
- “Would you consider financing with us?“
Correct answer: Yes, if you can beat the rate I have on my pre-approval from the credit union, I’d consider it. The rate and the payment would need to come down enough to justify it.
Wrong answer: Sure! That sounds easier.
Why: Be sure to mention that your payment would need to come down in addition to getting a lower interest rate. Why? All too often, the finance manager can offer you a slightly lower interest rate, only to trick you into add-on products later, meaning that your monthly payment ends up the same or even higher than it was originally.
- “Here’s our menu of products. Let’s talk monthly payments!”
Are you interested in our tire care package for just $6 per month? Or theft protection for just $10 per month?
Correct answer: Thanks, but for each of these products, I need to see the total cost of the product, not just the monthly payment.
Wrong answer: Awesome, wow I see that this theft protection only adds $10 per month!
Why: Expect them to show you the monthly payment, not the total price of the products on their menu. You’ll have to ask for them to point out the total price. Remember this: A product that adds ‘just’ $10 to your monthly car payment over a 60-month loan term will actually cost you $600.
Would you pay $600 for something like tire protection or theft protection? Or, could you buy these products elsewhere for half the price? This is how you should think about the menu products.
The finance office is not the time to lose sight of the number that matters: the out-the-door price!
Familiarize yourself with car dealer fees and products with our complete introduction.
FREE Car Buying Help Is Here!
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!
Remember that when buying or leasing a car, knowledge is power!
Car Market Update for Fall 2023: New and Used Car Forecast
Most car buyers don’t typically think of autumn as a great time to buy a car, but it’s the perfect time if you know where to look. Whether you’re planning to buy, hoping to sell, or are just curious about where the industry is headed, you’ve come to the right place. Buckle up as we steer you through the latest trends, from brand inventories and market conditions to financial forecasts. Let’s roll!
New Car Market Fall Update
The new car market still hasn’t reached so-called ‘normal’. Will it ever? Only a fool would make bold predictions after what we’ve all witnessed this decade. However, let’s talk about what we do know.
This autumn, we’re seeing an increase in cars on the lot, yet a significant disparity persists between automakers in terms of inventory levels. The current industry average hovers just under 60 days in terms of Market Day Supply. Why should you care about Market Day Supply (MDS)? This metric is crucial when understanding how much bargaining power you might have at the dealership. Brands with a high MDS are more eager to shift their inventory, and therefore, more likely to negotiate on price.
The High Inventory Brands
In the present market, Infiniti, Chrysler, Lincoln, Ford, Dodge, Buick, and Jeep have high inventory levels. This makes them prime targets for savvy buyers looking to negotiate a better deal. Here’s a look at nationwide inventory for the most negotiable new car brands:
| Make | Market Day Supply (Nationwide 9/1/23) |
|---|---|
| Infiniti | 119 |
| Chrysler | 179 |
| Lincoln | 128 |
| Ford | 99 |
| Dodge | 190 |
| Buick | 113 |
| Jeep | 179 |
| Market Average | 72 |
As you can see, all of these brands are dealing with a surplus of new car inventory right now. The longer that a new car sits on a dealer’s lot, the more negotiable it becomes for the knowledgeable car buyer. Dealers pay ‘floorplanning costs’ to keep inventory, so every day cuts into their profit margins. Learn how to use this information to your advantage with this 100% free Car Buying Cheat Sheet.
Low Inventory But High Demand
On the flip side, if you’re looking at Kia, Honda, Subaru, Lexus, BMW, and Toyota, be prepared for a bit of a struggle. These brands are facing low inventory levels. In some instances, new arrivals are pre-sold before they even hit the lot!
Here’s nationwide inventory for these new cars:
| Make | Market Day Supply (Nationwide 9/1/23) |
|---|---|
| Kia | 35 |
| Honda | 33 |
| Subaru | 48 |
| Lexus | 50 |
| BMW | 49 |
| Toyota | 40 |
| Market Average | 72 |
See local car market data for every make and model with CarEdge Data.
Surprisingly, Subaru remains a brand that’s willing to negotiate even when their inventory is low. Let’s take a look at some examples of today’s Subaru inventory:
| Make | Model | Market Day Supply | Total For Sale |
|---|---|---|---|
| Subaru | Ascent | 66 | 6,992 |
| Subaru | Solterra | 82 | 2,092 |
| Subaru | Crosstrek | 61 | 18,096 |
| Subaru | Forester | 74 | 26,782 |
| Subaru | Outback | 80 | 24,836 |
| Subaru | Impreza | 63 | 4,031 |
| Subaru | Legacy | 58 | 3,498 |
| Subaru | WRX | 83 | 3,339 |
| Subaru | Brand Average | 71 | 89,879 |
Our Coaches frequently empower Subaru lovers with the skills to negotiate even low-inventory new and used Subaru models. Check out these success stories of what is possible!
3 Upcoming Trends in the New Car Market
These are the top trends that our team of Car Coaches are watching this fall season. Each of these variables has the potential to disrupt the new car market in significant ways.
Inventory Surge: The buildup of new car inventory has already begun, but the question remains, will it last into fall? With sky-high interest rates continuing to dominate buyer’s mindsets, we think it will. We predict a buildup of new vehicle inventory as we near the end of 2023, slowly but surely.
Manufacturer Incentives: Manufacturer incentive spending is at a two-year high, accounting for 4% of the transaction price on average. Brands like Ram and Jeep have recently advertised new models at 10-15% below MSRP. If manufacturers increased their incentives to pre-pandemic historical norms around 7-9%, that would entice more buyers to take action. We don’t expect automakers to raise incentives at such a rapid pace by winter, however.
The UAW Wildcard: There’s speculation of a 10-20 day UAW strike that could cause short-term hiccups. While we don’t expect this to be a game-changer, it’s something to keep an eye on. It would, however, be a bigger deal for automakers like Stellantis and General Motors. Analysts estimate that a 10-day strike would cost them about $5 billion.
CarEdge New Car Market Seasonal Rating: It’s a ‘fine’ time to buy a new car.
Better deals are anticipated this winter, but depending on what vehicle you’re in the market for, this autumn just might be the perfect time to negotiate a great deal.
Used Car Market Fall Update
While used car prices have slightly decreased, they are still far above historical averages. This means you’re unlikely to snag a bargain, especially if you’re gunning for a reliable vehicle with a clean history for under $20,000.
Pro Tip: Never enter the used car market blind. Always get a pre-purchase inspection (PPI) to understand the future maintenance needs and overall condition of the car.
The Trade-In Landscape
Trade-in values will continue to slowly decline as wholesale auction values are expected to keep falling. Following historically steep declines in wholesale used car prices in July and early August, we expect a more gradual decline in the fall.
Whereas used cars, trucks and SUV values were falling at a rate of -1.00% to -1.5% weekly as of last month, we expect weekly used car values to decline by around -0.5% to -0.3% for most of this season. Why? There’s no indication that a glut of used car inventory will arrive on the market any time soon to drive down values quickly.
The best used car sellers (especially those looking to trade-in) should hope for is slow but steady drops in value in September through November. You’re likely to get more for your trade-in or used car sale today than you will in a few months.
CarEdge Used Car Market Seasonal Rating: very difficult for buyers on a budget.
This is especially true if you’re looking for a vehicle of decent, reliable quality for under $20,000. Interest rates incentivize large down payments and cash buyers, but most of us don’t have the means to put $10,000 or $20,000 down.
No matter what, don’t give up. From free car buying resources to 1:1 expert help with your deal, the CarEdge team is here to help!
Take This Advice With You
If you’re in the market for a new or used car, here’s our most important advice for you: Generally, say NO to market adjustments. A lot has changed since the madness and mayhem of late 2021 and early 2022. The exceptions are true specialty vehicles like Ford Bronco Raptor or Toyota RAV4 Prime, which are so in-demand that markups are almost a given.
For most new and used car models, there’s no way car dealers could justify additional markups in 2023. Staring down a tough deal? Work with a Car Coach to negotiate the BEST deal possible.
We’ll leave you with these reader favorites (100% free). Happy car shopping!
New Car Inventory Across America Shows Room For Negotiation
In this market analysis driven by CarEdge Data, we’ll take you on a tour through the market day supply of new cars across all 50 states and break down the inventory for the five major automakers. Armed with data, you’ll be in the best position to negotiate a great deal on your next vehicle.
Looking for the best and worst states to buy a car? We’ll answer these questions and more with the latest data. You’ll also want to check out the states with the highest fees and taxes.
Love Data? We Do Too
At CarEdge, we leverage cutting-edge tools to dig deep into the auto industry. One crucial metric we focus on is ‘market day supply, also known as ‘MDS’. Essentially, it provides an estimate of how many days it would take to sell off the current inventory of vehicles at the present rate of sales, assuming that no new vehicles are added to the inventory.
In a balanced market, a 60-day supply of new cars is considered the standard, providing a decent equilibrium between supply and demand.
Anything substantially above this indicates an oversupply, while anything below 40 days suggests a shortage. This information serves as a starting point to identify potential negotiation leverage for smart car buyers like you.
Let’s dive in and take a look at automotive trends across the United States. We’re looking at overall new car supply in all 50 states, and supply numbers for the top-selling brands in the U.S.: Ford, Toyota, Chevrolet, Honda, and Hyundai.
Use the sort feature by clicking on the arrows at the top of each column.
| State | New Car Inventory (Day Supply - All Makes) | Ford Days Supply | Toyota Days Supply | Chevrolet Days Supply | Honda Days Supply | Hyundai Days Supply |
|---|---|---|---|---|---|---|
| Alabama | 68 | 130 | 40 | 53 | 34 | 58 |
| Alaska | 92 | 106 | 13 | 97 | 40 | 120 |
| Arizona | 74 | 104 | 44 | 58 | 35 | 81 |
| Arkansas | 69 | 109 | 13 | 59 | 18 | 78 |
| California | 73 | 95 | 41 | 65 | 43 | 71 |
| Colorado | 69 | 95 | 42 | 49 | 28 | 89 |
| Connecticut | 75 | 118 | 47 | 54 | 32 | 55 |
| Delaware | 78 | 116 | 48 | 61 | 31 | 68 |
| Florida | 72 | 97 | 46 | 71 | 33 | 51 |
| Georgia | 67 | 86 | 36 | 64 | 33 | 61 |
| Hawaii | 83 | 105 | 23 | 152 | 69 | 86 |
| Idaho | 76 | 90 | 36 | 61 | 20 | 79 |
| Illinois | 70 | 126 | 42 | 54 | 25 | 59 |
| Indiana | 69 | 92 | 40 | 60 | 22 | 65 |
| Iowa | 80 | 112 | 45 | 60 | 32 | 60 |
| Kansas | 70 | 87 | 47 | 61 | 39 | 35 |
| Kentucky | 67 | 84 | 37 | 54 | 28 | 52 |
| Louisiana | 74 | 124 | 38 | 66 | 28 | 56 |
| Maine | 69 | 100 | 42 | 53 | 31 | 58 |
| Maryland | 72 | 107 | 51 | 68 | 27 | 68 |
| Massachusetts | 70 | 103 | 49 | 57 | 31 | 67 |
| Michigan | 69 | 106 | 40 | 52 | 26 | 60 |
| Minnesota | 75 | 89 | 42 | 63 | 37 | 67 |
| Mississippi | 69 | 106 | 31 | 61 | 26 | 58 |
| Missouri | 75 | 98 | 51 | 49 | 28 | 68 |
| Montana | 77 | 84 | 42 | 74 | 35 | 75 |
| Nebraska | 80 | 114 | 59 | 60 | 24 | 84 |
| Nevada | 75 | 87 | 35 | 70 | 28 | 87 |
| New Hampshire | 69 | 104 | 40 | 82 | 33 | 52 |
| New Jersey | 67 | 108 | 51 | 62 | 35 | 52 |
| New Mexico | 71 | 86 | 33 | 69 | 22 | 76 |
| New York | 68 | 93 | 46 | 61 | 30 | 52 |
| North Carolina | 66 | 100 | 37 | 53 | 23 | 60 |
| North Dakota | 82 | 104 | 49 | 85 | 23 | 70 |
| Ohio | 71 | 103 | 41 | 64 | 23 | 72 |
| Oklahoma | 72 | 90 | 29 | 59 | 23 | 62 |
| Oregon | 85 | 88 | 52 | 86 | 46 | 188 |
| Pennsylvania | 73 | 103 | 43 | 68 | 31 | 53 |
| Rhode Island | 82 | 93 | 43 | 65 | 41 | 57 |
| South Carolina | 63 | 116 | 36 | 66 | 25 | 46 |
| South Dakota | 94 | 92 | 52 | 89 | 26 | 123 |
| Tennessee | 69 | 91 | 49 | 66 | 29 | 69 |
| Texas | 69 | 92 | 34 | 58 | 32 | 58 |
| Utah | 72 | 99 | 27 | 41 | 26 | 91 |
| Vermont | 116 | 127 | 73 | 71 | 190 | 132 |
| Virginia | 68 | 92 | 47 | 63 | 27 | 63 |
| Washington | 76 | 94 | 50 | 82 | 38 | 87 |
| West Virginia | 74 | 97 | 45 | 66 | 29 | 57 |
| Wisconsin | 74 | 111 | 44 | 59 | 24 | 75 |
| Wyoming | 95 | 65 | 61 | 106 | 49 | 143 |
There’s a lot to digest in the above table, so we’re going to focus in on the states with the highest and lowest new car inventory overall, and for each of the five best-selling car brands in America.
States with the Highest New Car Inventory
If you’re looking for more room to negotiate, consider buying a car in states with high inventory levels. Not sure where to start? Here’s our guide to buying a car in another state.
Vermont leads with an impressive 116-day supply, followed by Wyoming at 95 days, South Dakota at 94 days, and Alaska at 92 days. Other states rounding off the top ten in this category include Oregon, Hawaii, North Dakota, Rhode Island, Iowa, and Nebraska—all well above the 60-day norm.
States with the Lowest New Car Inventory
On the flip side, states like South Carolina, North Carolina, Georgia, Kentucky, New Jersey, Alabama, New York, Virginia, Arkansas, and Colorado have the lowest new car inventories, all hovering around the 60-70 day supply mark.
Negotiating a new car is certainly not impossible in these states, as our team of Coaches has helped hundreds of buyers in these states this year alone. But with the tightest inventory, it’s simply smart buying to be aware of the overall market from day one.
Why Are All “Low Inventory” States Above 60 Days?
You might be asking, if a balanced market hovers at a 60-day supply, why are the states with the lowest inventory still above this mark? Well, these numbers are an average across all brands—from the glut of Ram trucks to the scarcity of Hondas and Subarus. For specifics on make and model for any zip code or region, CarEdge Data has you covered.
Next, we’ll dive deeper and take a closer look at the five best-selling automotive brands in America. There are some BIG differences between the top players when it comes to inventory on dealer lots.
Ford Inventory Soars
Ford inventory is among the highest in the auto market right now, with the brand having a 97-day supply of new cars nationwide. In some states, Ford’s inventory exceeds 120-day supply.
If you’re eyeing a Ford, states like Alabama, Vermont, Illinois, Louisiana, and Connecticut offer the most room for negotiation due to 100+ day supplies of new cars.
Conversely, Wyoming, Montana, Kentucky, New Mexico, and Georgia are your least favorable states in terms of Ford inventory.
Notably, Ford’s electric Mustang Mach-E, traditional Mustang, and Explorer have the most supply, while the Maverick and Ranger are relatively sparse and tougher (but not impossible) to negotiate.
Browse local Ford listings with the power of data.
Toyota’s Inventory Situation
Toyota’s nationwide average stands at a tight 42-day supply. Vermont, Wyoming, Nebraska, Oregon, and South Dakota have the highest inventory for Toyota. In contrast, states like Arkansas, Alaska, Hawaii, Utah, and Oklahoma have the least Toyota inventory.
The Sequoia, Corolla, and Sienna are currently in high demand, all with less than 40-day supplies. The electric bZ4X, 4Runner, and Crown have the highest inventory numbers, and as a result, the highest negotiability from the get-go.
See localized inventory, price and negotiability with CarEdge Data.
Chevrolet Flirts with Average
Chevrolet averages a balanced 61-day inventory nationwide. For Chevy, Hawaii, Wyoming, Alaska, South Dakota, and Oregon are your go-to states for choice and negotiability, while Utah, Missouri, Colorado, Michigan, and North Carolina are less ideal with tighter supply.
The Silverado and Equinox are most abundant on dealer lots. The Corvette, Trax, and Colorado have the least inventory.
Honda STILL Has Lean Inventory
Honda’s supply averages a mere 32 days nationally, owing to lingering effects of the supply chain shortages that every automaker previously dealt with. States like Vermont, Hawaii, Wyoming, Oregon, and California have the highest Honda inventory, but nowhere even comes close to Vermont.
There are just five Honda dealerships in Vermont, but between them there are 1,014 new Hondas for sale. Day’s supply sits around 180 days, which is highly unusual for Honda. Perhaps Honda buyers in New England should consider heading to The Green Mountain State for the greatest negotiability.
Arkansas, Idaho, New Mexico, Indiana, and Oklahoma offer the least room for negotiation with the lowest Honda inventory. When it comes to model inventory, the HR-V and Passport have the greatest supply nationwide, while the CR-V and Pilot are much harder to come by.
Hyundai’s Middle Ground
Hyundai has been steadily climbing the ranks in the battle for automotive market share. As Summer 2023 winds down, Hyundai’s inventory numbers are looking healthy, and notably better than competitors Honda and Toyota. There’s currently a 62-day supply of new Hyundai’s nationwide, with quite a bit of variability from one state to the next.
Hyundai inventory is most abundant in Oregon, Wyoming, Vermont, South Dakota, and Alaska. In contrast, Kansas, South Carolina, Florida, New York, and New Jersey have less stock.
The IONIQ 6 and IONIQ 5 are abundant, while the Venue and Elantra are in short supply. Hyundai and sibling Kia have really struggled to sell EVs ever since the revamped federal tax credit removed eligibility due to the ‘Made in America’ requirement.
See Hyundai inventory and price data near you.
Harness the Power of Data to Negotiate Like a Pro
Ready to utilize data for unparalleled negotiating leverage? We’ve got tools to suit your needs and budget. From free resources to expert car buying help, we’ve got it all. Enjoy these reader-favorite free car buying tools:
- Car Buying Cheat Sheet
- Auto Finance Cheat Sheet
- The Best Auto Loan Rates This Month
- Out-the-Door Price Calculator
- What Is My Car Worth? Find Out!
Ready to negotiate a sweet deal? Collaborate with a Car Buying Coach for insider-only insights or opt for a one-time consultation through CarEdge Consult. For the DIY aficionados out there, CarEdge Data provides the robust market intelligence you need to navigate your car buying journey.
Regardless of your budget, we have a plan to help you save thousands. Embark on your informed car buying adventure today with peace of mind! With CarEdge, you’ll know you got the BEST deal.
Ford Inventory Woes: Does Soaring Inventory Mean Ford’s Prices Are Just Too High?
Ford’s inventory is overflowing in 2023. Indeed, the brand known for its robust line-up seems to be outpacing the current car market’s appetite. Paradoxically, price tags on these vehicles have climbed a staggering 27% since 2019. It appears Ford is navigating uncharted waters with an abundance of cars at their dealerships, waiting for buyers.
For those considering adding a new Ford to their garage, this might just be your golden opportunity. Let’s explore further.
Ford Inventory Update
In the automotive world, a balanced market dances around the 60-day inventory supply benchmark. This means, without the influx of any new stock, dealerships should ideally exhaust their current inventory in a two-month span at the prevailing sales rate. In 2023, Ford’s numbers have dramatically eclipsed this industry norm.
Currently, Ford boasts a 96-day supply, translating to a whopping 318,339 cars available across American Ford dealerships. Some models like the all-electric Mustang Mach-E and Ford’s van lineup, including the Transit and E-Series, have even higher inventory supplies, with the former leading at an impressive 214 days.
Even the iconic Mustang isn’t zipping away as speedily as one might expect, with a 168-day inventory. F-150 inventory is climbing as ‘trimflation’ pushes truck prices ever higher. As we approach Labor Day 2023, F-Series inventory sits at 117 days nationwide. For the best-selling electric truck on the market, the F-150 Lightning, there’s currently a 97-day supply nationwide with 3,632 for sale.
As Labor Day 2023 approaches, let’s delve deeper into the inventory landscape of every Ford model.
For comparison’s sake, here are the ten new car models with the highest inventory right now.
| Make | Model | Market Day Supply | Total For Sale | Total Sold (45 Days) |
|---|---|---|---|---|
| Lincoln | Aviator | 403 | 4,771 | 533 |
| Jeep | Renegade | 393 | 11,550 | 1,322 |
| Jeep | Cherokee | 364 | 4,606 | 570 |
| Ram | Ram 2500 | 354 | 23,910 | 3,042 |
| Chrysler | Pacifica Hybrid | 344 | 7,235 | 947 |
| Jeep | Grand Wagoneer | 331 | 3,771 | 513 |
| Jeep | Gladiator | 291 | 21,743 | 3,360 |
| Ram | Ram 1500 Classic | 247 | 5,051 | 920 |
| Mitsubishi | Outlander PHEV | 241 | 1,679 | 313 |
| Maserati | Grecale | 234 | 2,171 | 417 |
This is serious stuff, folks. When an automaker inches north of 80 days’ supply of new cars, it’s noteworthy. When best-selling models are all over 100 days’ supply, that’s big news. Ford’s luxury nameplate is also flooded with unsold new cars.
Lincoln Has It Even Worse
Ford Motor Company’s premium brand has an unprecedented inventory problem right now. Just how much unsold Lincoln inventory is sitting on lots right now? Lincoln overall has a 125-day supply. Here’s the breakdown by model:
- Lincoln Aviator: 420-day supply (5,130 for sale nationwide)
- Lincoln Nautilus: 93-day supply (5,805 for sale nationwide)
- Lincoln Corsair: 98-day supply (6,087 for sale nationwide)
- Lincoln Navigator: 131-day supply (4,819 for sale nationwide)
If you’re looking for a more premium SUV, Lincoln dealerships should be willing to negotiate on pricing with inventory numbers like these. See localized inventory and pricing insights with CarEdge Data.
Use This to Negotiate
Why on Earth would we be sharing inventory numbers with the masses? Does anyone care? In fact, you should care if you’re in the market for a new Ford. Real-time inventory data is just one of the many data points that our CarEdge Coaches use to help our members. When inventory is high, dealers are more likely to budge on every aspect of the deal, from trade-in valuation to out-the-door pricing.
In simple terms, here’s how these numbers can be used as leverage. Looking for an affordable electric vehicle with great range, fast charging and the federal tax credit? Show your local Ford dealer that you’re familiar with the Mustang Mach-E’s inventory surplus. Ready to negotiate a sweet deal on a new F-150, Explorer or Mustang? You now have data on your side.
Access ALL of the latest car market data with CarEdge Data, your one-stop resource for auto insights. Ready for a pro to assist? Work with a CarEdge Coach for live support from start to finish, or schedule a Consult for a quick chat. We’re on your side! Let us know how we can help you save the most with your new or used car deal.
The Best Labor Day Car Sales (2023 Deals)
Labor Day is not just about barbecues and the beach; it’s also one of the best times to get a great deal on a new car. If you’re considering buying a car, these Labor Day deals are the ones worth your time. Our team of Car Coaches pored over every offer and selected the real deals among the crowd. Here’s a breakdown of the best Labor Day car sales to look out for from major car brands.
Acura
For those eyeing an Acura, there’s a 3.9% APR offer for 24-36 months or 4.9% for 37-60 months on models including the Acura MDX, RDX, TLX, and Integra. Offers are valid until 9/5/23. Learn more about current Acura offers.
Cadillac
Cadillac is offering a 1.9% APR for 36 months for the CT4 and CT5. Also, the XT5 and XT6 come with a 1.9% APR for 36 months plus a $1,500 purchase allowance when you finance with Cadillac. Deals last until 9/5/23. See the details at cadillac.com and browse listings here.
Chevrolet Labor Day Sales
Chevrolet’s Summer Drive Event is on, and deals are valid through 9/5/23. Qualified buyers can score 1.9% APR for 36 months when financing with GM. Chevrolet is also offering cash incentives for the Equinox ($1,250), Blazer ($1,250), Traverse ($1,000), Silverado ($2,500), Malibu ($750), and Camaro ($750). For the Silverado, a total of $6,500 is available for buyers with a trade-in. Notably, these offers won’t apply to factory-ordered vehicles. Learn more about Chevrolet deals and browse local inventory.
Chrysler Sales This Month
Depending on region, get up to $2,500 cash incentives for the Chrysler Pacifica Plug-In Hybrid. States that participate in the CARB emissions program qualify for the full incentive. Others qualify for $750 cash incentives. For the Chrysler 300, buyers get a $2,000 cash incentive. Learn more at chrysler.com and browse local listings.
Dodge Lease Deals
There are some decent Dodge lease offers this month. These are the best offers:
- Hornet: $449 per month for 36 months with $4,249 due at signing
- Durango: $478 per month for 36 months with $3,999 due at signing
- Charger: $461 per month for 36 months with $4,249 due at signing
- Challenger: $410 per month for 36 months with $4,249 due at signing.
Learn more about Dodge deals at Dodge.com and browse local listings.
Ford Labor Day Sales
Ford EV inventory is climbing, and the automaker is offering incentives to move vehicles off the lot. Lease a Mustang Mach-E for just $409 per month for 36 months with $5,188 due at signing. Lease a F-150 Lightning for $633 per month for 36 months with $6,332 due at signing.
Ford also has some good financing deals right now. The Mustang qualifies for 1.9% APR for 72 months with a $1,000 cash offer. The Bronco Sport, Escape, Edge and Explorer all qualify for 2.9% APR for 60 months and between $1,000 – $2,000 in cash bonuses. The F-150 and F-150 Lightning both qualify for 3.9% APR for 60 months and $500 customer cash, which is a good deal in today’s high-interest market. See Ford’s current offers in your area.
Browse Ford listings near you with local market data.
Genesis Deals This Month
The following Genesis models qualify for 3.49% APR for 60 months and between $1,500 and $2,000 in cash incentives: GV70, GV80, G70, G80, G90.
Learn more at Genesis.com or browse local listings.
GMC Financing Offers
The Sierra 1500 qualifies for 0.9% APR, $3,250 bonus cash, and no payments for 90 days. The Acadia and Terrain are both eligible for 1.9% APR financing. Learn more about GMC Labor Day sales and see listings near you.
Honda Labor Day Sales
Honda has a few great financing offers this month. Finance the Ridgeline for 0.9% APR for 24 to 36 months, and 2.9% APR for 37 to 60 months. The Accord, Accord Hybrid and Passport qualify for 2.9% APR for 24 to 48 months, and 3.9% APR for 49 to 60 months. Other Honda models qualify for 3.9% APR or higher.
Honda’s brand loyalty program offers as much as $1,250 in cash incentives right now. The cash offer ranges from the Ridgeline ($1,250), Passport ($1,000) and all other models ($500). Honda also has a number of great lease deals this month, which you can learn more about here. See the details at Honda.com.
Browse Honda listings near you, all with the power of local market data.
Hyundai Sales: Big Discounts
Hyundai offers some of the best Labor Day car sales in 2023. Ever since the IONIQ 5 lost the federal tax credit, Hyundai has been upping incentives for the EV. Today, IONIQ 5 and IONIQ 6 leases include a $7,500 discount. IONIQ 5 and IONIQ 6 financing offers start as low as 0.99% APR financing for up to 48 months. Current Hyundai owners and lessees can save an additional $2,500.
The Kona features a cash offer of $1,500, the Tucson offers $2,000 off, and the popular Santa Fe has a $2,500 cash offer. All Hyundai Labor Day sales are valid through September 5, 2023.
Learn more about Hyundai’s Labor Day sales and browse local listings with market data.
Jeep Slashes Prices
Make no payments for 90 days with the 2023 Jeep Grand Cherokee. The 2023 Jeep Cherokee Altitude Lux is advertised for 15% below MSRP for an average savings of $6,300. The 2023 Jeep Compass and Renegade are 10% off MSRP, but be wary of unexpected dealer fees that seem to plague Jeep dealerships. The Gladiator features employee pricing currently.
See Jeep Labor Day sales near you.
Browse local listings with market insights.
Kia Labor Day Sales
The Kia EV6 features $5,000 cash back and 0.9% APR through 9/5/23, although Kia electric models lost eligibility for the federal EV tax credit. The Kia Niro EV qualifies for $3,750 cash back and 0.9% financing. State and local incentives may apply. The Kia Soul, Forte, and Stinger qualify for 2.9% APR financing. See details for Kia’s Labor Day sales.
Browse Kia listings with local market data.
Lexus Labor Day Sales
This Labor Day, Lexus is offering $2,000 lease cash for the ES and ES Hybrid. The new electric Lexus RZ and NX plug-in hybrid qualify for $7,500 in lease cash. Learn more about Lexus deals near you at Lexus.com.
View local Lexus listings with market data.
Lincoln Offers Low Financing
Lincoln has a few good deals for Labor Day 2023. Finance the Lincoln Corsair and Nautilus for 3.9% APR for 60 months with $2,000 cash when you have a trade-in. See details from Lincoln.
Browse local Lincoln listings with powerful market insights.
Mazda Offers This Month
Several Mazda models qualify for 2.9% APR for 36 months: CX-90, CX-30, CX-5, CX-50, and the Mazda3 Hatchback. The MX-5 Miata RF is available for 0.9% APR. Learn more about Mazda’s Labor Day deals, and browse local listings.
Nissan Labor Day Sales
Nissan’s Thrill of the Drive sales event lasts through September 5, and features deals on financing and leases.
These are the best Nissan deals this Labor Day: Lease an Altima SV for $329/month for 36 months with $3,099 due. Lease a Nissan Rogue for $409/month for 36 months with just $2,009 due.
Ready to go electric? Lease the new Ariya starting at $369/month with $4,129 due. Nissan is offering 0% financing for the Rogue, Murano, and Titan. Explore more Nissan Labor Day sales at NissanUSA.com.
Browse Nissan listings with the power of local market insights.
Ram Deals This Month
Ram is advertising 10% off MSRP for the Ram 1500 Classic as inventory rises on dealer lots. Despite slow truck sales, Ram and parent company Stellantis aren’t doing much in the way of financing offers. As Labor Day approaches, 2.9% APR is the best they can do for the Ram 1500. Learn more about Ram deals near you.
Browse local Ram listings with negotiability factors.
Toyota Labor Day Sales
The Toyota National Sales Event lasts through 9/5/2023, and offers decent (but not stellar) financing and lease deals.
These are the standouts among the deals: The following models qualify for 2.99% APR: 2023 Tacoma 4×2 is the featured financing deal at 2.99% APR for 60 months. Front-wheel drive Highlanders are offered at 3.49% APR. All of the following models qualify for 3.99% APR: bZ4X EV, Camry (excluding hybrids), Corolla (excluding hybrids), Corolla Hatchback, Highlander AWD (excluding hybrids), RAV4 (excluding hybrids).
Among the best Toyota lease deals are the Corolla Cross for $359/month for 36 months with $3,009 due, and the Prius for $475/month for 36 months with $3,185 due. See the latest Toyota deals near you.
Browse Toyota listings with local market insights that save you money.
Volkswagen: Low APRs and EV Leases
Currently, the Taos and Tiguan both qualify for 1.9% APR for 36 months, which is a great financing offer. If a six year loan is in your future, the Atlas and all-electric ID.4 are offering 3.9% APR for 72 months.
Lease the highly-acclaimed ID.4 for just $349/month for 36 months with $4,999 due. Check out all of Volkswagen’s Labor Day sales here, and browse local listings.
Volvo Update
Volvo’s Summer Safely Sales Event ends on August 31, and it’s not yet clear what deals and offers will replace it come Labor Day weekend. Check volvocars.com as the holiday approaches for the latest sales.
There’s Room For Negotiation
In the realm of car sales, mastering negotiation can pivot a purchase from a financial burden to a steal of a deal. Given the present Labor Day car sales, fine-tuning your negotiation prowess could equate to hefty savings. Remember, substantial Manufacturer’s Discounts are a sign that there’s room to haggle.
Prepared to harness the power of negotiation for your upcoming car investment, potentially saving thousands? You’re in the right place. Team up with a Car Buying Coach to negotiate using auto industry insights typically unavailable to the public.
If a one-time consultation is more your style, CarEdge Consult offers expert advice tailored for your needs. For those looking to embark on a DIY car buying journey powered by rich auto market data, CarEdge Data is the perfect fit.
Subaru Inventory Update: CarEdge Data Reveals the Best Deals This Month
Subaru inventory is flourishing more than most would anticipate. While variability exists from one dealership to another and from one market to the next, armed with the latest car market data, you’re well-positioned to negotiate favorable deals on Subarus today. Currently, Subaru has a 67-day supply of new cars and SUVs across its range. Interestingly, some models are quite negotiable. Let’s delve deeper into the best Subaru deals available this month, followed by insights on how you can harness market data to negotiate Subaru prices.
Subaru Offers This Month
Here’s a summary of the big picture today. Interest rates have risen 300% since 2021, and gone are the days of zero percent financing. In 2023’s auto market, any APR below 4% is considered a great deal. These are Subaru’s best financing offers today:
- Solterra EV: 0% APR financing or lease for $399/month. Be sure you understand the pros and cons of buying Subaru’s first electric car!
- 1.9% APR Financing on a new 2022 WRX.
- 3.9% APR Financing for the following new Subaru models: 2023 Ascent, Forester, Outback, and WRX Base models, and the 2023 BRZ Premium.
- 4.9% APR on 2024 Subaru models
These are Subaru’s best leases this month.
- 2023 Ascent Base: Lease for $359/Month for 36 months with $3,259 upfront and no security deposit.
- 2023 Outback: Lease for $319/Month for 36 months with $3,545 upfront and no security deposit.
- 2024 Crosstrek: Lease for $299/Month for 36 months with $2,549 upfront and no security deposit.
- Solterra EV: Lease for $399/month with $3,899 upfront.
The Most Negotiable Subaru Models
Equipped with the latest inventory data, it’s clear which Subaru models and trims are up for negotiation. High inventory indicates a higher likelihood of dealerships being willing to adjust prices, especially considering the escalating interest rates they grapple with for unsold cars. Although Subaru has historically maintained low inventories, the current scenario offers some pockets of opportunity.
| Make | Model | Market Day Supply | Total For Sale |
|---|---|---|---|
| Subaru | Ascent | 66 | 6,992 |
| Subaru | Solterra | 82 | 2,092 |
| Subaru | Crosstrek | 61 | 18,096 |
| Subaru | Forester | 74 | 26,782 |
| Subaru | Outback | 80 | 24,836 |
| Subaru | Impreza | 63 | 4,031 |
| Subaru | Legacy | 58 | 3,498 |
| Subaru | WRX | 83 | 3,339 |
| Subaru | Brand Average | 71 | 89,879 |
The most negotiable new Subaru models include:
- Solterra: 82-day market supply; 2,092 available.
- Forester: 74-day market supply; 26,782 available.
- WRX: 83-day market supply; 3,339 available.
- Impreza: 63-day market supply; 4,031 available.
- Outback: 80-day market supply; 24,836 available.
The Solterra EV, in particular, is trailing behind its competitors like the Hyundai IONIQ 5, Kia EV6, and even the Volkswagen ID.4. And it’s nowhere near the Tesla Model Y, which has become much more affordable in 2023. This slow sales momentum, combined with its not-so-impressive charging speeds, makes it a prime candidate for negotiation. However, it does NOT qualify for the federal EV tax credit! See which EV models do here.
As for the other models, Subaru sedans have always been the slower sellers, but it’s the first time that the popular Forester and Outback have been this negotiable in years.
Considering the flood of 2024 Subaru inventory arriving on dealer lots this month, all Subaru models are negotiable right now.
The Details (Best-Selling Subaru Models)
Let’s took a closer look at the inventory and negotiability for Subaru’s top selling models. Using this information, we’ve seen which trims are in highest supply, and which are surprisingly negotiable today. Note that Subaru has some 2023 inventory to clear out, and these are selling slowly compared to 2024 models.
Subaru Crosstrek
Here’s a look at the best-selling Subaru model, the Subaru Crosstrek. Last year, Subaru sold 155,000 of these, which was slightly more than the Outback.
| Year | Model | Trim | Market Day Supply (2023) | Total For Sale |
|---|---|---|---|---|
| 2023 | Crosstrek | Base | 68 | 6 |
| 2023 | Crosstrek | Premium | 750 | 50 |
| 2023 | Crosstrek | Sport | 205 | 41 |
| 2023 | Crosstrek | Limited | 293 | 91 |
| 2024 | Crosstrek | Base | 24 | 504 |
| 2024 | Crosstrek | Premium | 37 | 5,679 |
| 2024 | Crosstrek | Sport | 44 | 1,472 |
| 2024 | Crosstrek | Limited | 47 | 2,963 |
Looking at the market day supply for each Crosstrek trim level and model year, we can see that these are the most negotiable today:
- Any remaining 2023 model year Crosstreks are going to be the most negotiable. Although less than 200 remain nationwide, these 2023 models are selling very slowly. Dealers will be ready to sell them if you’re prepared to negotiate!
- For 2024 models, higher, pricier trims have a higher day’s supply and are more negotiable. The mid-trim Crosstrek Premium has the highest inventory in terms of overall numbers at 5,679, but its popularity means it’s a fast seller, and is less negotiable than higher-priced options like the Crosstrek Sport and Crosstrek Limited, which are sitting on the lot for longer.
Subaru Outback
Subaru’s second-best seller, the Subaru Outback, has significantly higher inventory than the Crosstrek. In 2022, Subaru sold 147,000 Outbacks in the United States. Here’s a complete look at Subaru Outback inventory today.
| Year | Model | Trim | Market Day Supply (2023) | Total For Sale |
|---|---|---|---|---|
| 2023 | Outback | Base | 77 | 12 |
| 2023 | Outback | Premium | 34 | 91 |
| 2023 | Outback | Onyx Edition | 23 | 121 |
| 2023 | Outback | Limited | 18 | 305 |
| 2023 | Outback | Touring | 24 | 177 |
| 2023 | Outback | Wilderness | 19 | 106 |
| 2024 | Outback | Base | 66 | 198 |
| 2024 | Outback | Premium | 56 | 3,789 |
| 2024 | Outback | Onyx Edition | 82 | 2,683 |
| 2024 | Outback | Limited | 64 | 5,913 |
| 2024 | Outback | Touring | 59 | 2,636 |
| 2024 | Outback | Wilderness | 66 | 2,904 |
As we can see, these are the Outback trim options with the highest inventory in terms of market day supply, and as a result are the most negotiable:
- 2024 Outback Onyx Edition (82-day supply)
- 2024 Outback Wilderness Edition (66-day supply)
- 2024 Outback Base (66-day supply, however only about 200 are in available nationwide)
Subaru Forester
Next up, the Subaru Forester. Subaru’s #3 model had 114,000 sales last year in America. Subaru hasn’t delivered any 2024 model years just yet. Here’s the complete breakdown of Forester inventory today:
| Year | Model | Trim | Market Day Supply (2023) | Total For Sale |
|---|---|---|---|---|
| 2023 | Forester | Base | 27 | 553 |
| 2023 | Forester | Premium | 32 | 3,080 |
| 2023 | Forester | Sport | 43 | 2,230 |
| 2023 | Forester | Limited | 51 | 3,854 |
| 2023 | Forester | Wilderness | 66 | 3,986 |
| 2023 | Forester | Touring | 75 | 3,662 |
| 2024 | Forester | Base | 0 | 0 |
| 2024 | Forester | Premium | 0 | 0 |
| 2024 | Forester | Sport | 0 | 0 |
| 2024 | Forester | Limited | 0 | 0 |
| 2024 | Forester | Wilderness | 0 | 0 |
| 2024 | Forester | Touring | 0 | 0 |
These are the most negotiable new Foresters today:
- The top-trim 2023 Forester Touring is the most negotiable option with a 75-day supply.
- Next up is the Forester Wilderness at 66-day supply.
- More affordably priced Forester trims have tighter inventory simply because they’re more popular.
Soon, 2024 Forester inventory will arrive on dealer lots. Once that happens, 2023 models will become much more negotiable. If you’re in the market for a new Forester, we recommend waiting until the 2024 models arrive so you can score a sweet deal.
Used Subaru Deals
We analyzed thousands of data points to find the most negotiable used Subaru models today. It quickly became clear that there’s a lot of variability in used Subaru inventory. For some models, there’s A LOT of inventory and high negotiability. For others, not so much.
| Model | New/Used | Market Day Supply | Total For Sale |
|---|---|---|---|
| Ascent | used | 59 | 3920 |
| BRZ | used | 71 | 607 |
| Crosstrek | used | 51 | 7,353 |
| Forester | used | 56 | 14,413 |
| Impreza | used | 59 | 7,176 |
| Legacy | used | 66 | 5,528 |
| Outback | used | 56 | 16,591 |
| Solterra | used | 183 | 179 |
| WRX | used | 76 | 3,283 |
We found that in general, 2018-2019 model year Subarus have the highest inventory today.
Among models, Subaru sedans like the Legacy, Impreza and WRX definitely have the most inventory. Let’s take a look at the details.
Used Inventory (All Models)
These are the best model years in terms of inventory and negotiability for every Subaru model:
| Model | Year | Market Day Supply | Total For Sale |
|---|---|---|---|
| Ascent | 2021 | 67 | 953 |
| BRZ | 2018 | 110 | 71 |
| Crosstrek | 2019 | 64 | 1,421 |
| Forester | 2018 | 72 | 1,367 |
| Impreza | 2014 | 65 | 556 |
| Legacy | 2019 | 95 | 646 |
| Outback | 2018 | 62 | 1,660 |
| Solterra | 2023 | 178 | 182 |
| WRX | 2022 | 91 | 621 |
Highest Used Inventory
When it comes to overall highest inventory (and highest negotiability), the winners are [almost] all sedans. The Solterra EV snuck into the top spot as EV competitors simply offer faster charging and more range. Subaru’s cars aren’t as popular as they were a decade ago, but that can be to your advantage at the negotiating table.
| Model | Year | Market Day Supply | Total For Sale |
|---|---|---|---|
| Solterra | 2023 (used) | 178 | 182 |
| Legacy | 2019 | 95 | 646 |
| WRX | 2022 | 91 | 621 |
| WRX | 2015 | 87 | 348 |
| Legacy | 2022 | 86 | 364 |
| Legacy | 2021 | 77 | 416 |
| Legacy | 2018 | 75 | 467 |
| Legacy | 2020 | 73 | 718 |
| Forester | 2018 | 72 | 1,367 |
| Ascent | 2021 | 67 | 953 |
Unlock Bigger Savings
Want to elevate your savings even further? Ready for even more insider data? Collaborate with a Car Buying Coach to negotiate using insights only industry insiders are privy to. If a one-time consultation is more your style, CarEdge Consult offers expert advice tailored for your needs. For those looking to embark on a DIY car buying journey powered by rich auto market data, CarEdge Data is your go-to resource. Embark on your Subaru buying journey today, fortified with market intelligence!
Compare premium plans to see how we can help you save thousands. We’ve got options for every budget.
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The Best Way to Buy a Car in 2025 [5-Steps to Success!]
Purchasing a car, whether it’s your first or your fifth, can be a daunting task. Our team of car buying pros has created this guide to how to buy a car for one simple reason: buying a car shouldn’t be a miserable experience. We’ve laid out a thorough step-by-step guide to simplify the process for you. It’s 2025, and you have tools that yesterday’s car buyers dreamed about. It’s time to put data to work for you!
👉 Ready to let an expert do it for you? Learn more about CarEdge Concierge, the best way to buy a car hands-down!
1. Know Your Budget and Needs
Imagine if you were paid to do your homework back in school. When it comes to buying a car, it’s a concept that’s not all that far-fetched. When you approach car buying with proper preparation, you’re sure to save more and spend less. Before diving headfirst into the buying process, here’s where you should begin your journey:
Budget For Your Car
This might come across as a no-brainer, but there’s more to setting a budget for car buying than meets the eye. Here’s what you should think about BEFORE shopping for a car.
- Are you planning to pay cash or finance? Familiarize yourself with the pros and cons of each in this guide to paying for a car. You may even consider leasing. Check out the Consumer’s Guide to Negotiating a Car Lease.
- How much money do you have for a down payment, or to pay cash?
- Do you have a trade-in, and how much is it worth? See how much online car buyers will pay. It may be worth it to sell your car rather than trading it in.
- How much can you afford to spend monthly on total transportation expenses? Note: You don’t want to tell salespeople at the dealership that you’re thinking about monthly payments. They can and will use this against you! However, it’s important to consider for your own budgeting.
- Consider additional costs: Auto insurance rates depend on a number of factors, from the type of car and zip code to your credit score to driving record. In the United States, the average monthly premium for auto insurance is $179 per month. Your monthly auto expenses will include your payment if financing, auto insurance, fuel and maintenance. If it helps, create a spreadsheet to add it all up!
- Taxes & Registration: Local charges can add up. Know what your state and local tax rates are. In some states, car taxes are annual and can add up to hundreds or even thousands of dollars for luxury cars. Find out if you’ll have to pay annual property taxes for your car.
- Maintenance: Some vehicles are pricier to keep in tip-top shape. Compare maintenance costs for every car here.
Determine Your Needs vs. Wants
Have you ever asked yourself, what do I actually need? Do you really need a full-size SUV or a $100,000 truck? Have you budgeted for a car? Now’s the time to ponder these questions and more. Remember: the more economical the car, the lower your cost of ownership is likely to be. Maintenance, insurance and taxes are all lower for more affordable cars. Here are a few other things to consider:
- Determine Your Wants: Do you want a new or used car? Do you prefer an electric vehicle, hybrid, plug-in hybrid, or old-fashioned gas power? What are you willing to let go of to save money? These are all worth considering before falling in love with a car on the lot.
- Research Models: Dive deep into the brands and models within your budget range. A great place to start is looking at cars with the most inventory right now for better negotiation leverage. If you’re financing, have a look at this month’s best auto loan rate offers.
- Check Reviews & Ratings: Don’t skip this step! It’s crucial to know about a vehicle’s reliability, safety ratings, depreciation, and how it fares in consumer reviews. CarEdge Comparisons and Consumer Reports are great places to start your research. If you might sell the car in a few years, it’s critical that you consider the cost of depreciation.
2. The Big Decision: New vs. Used
Choosing between new and used can make a big difference in your budget and what you get.
While a brand-new car entices with the allure of cutting-edge technology, pristine interiors, and that new car smell, it also comes with a higher upfront cost. On the other hand, opting for a used car can be easier on the wallet, providing the opportunity to snag a higher-end model at a fraction of its original price. However, used car buyers should tread cautiously, considering factors such as the car’s history, mileage, and any wear and tear. Always get a pre-purchase inspection. You want to know what to expect maintenance-wise! If the seller refuses a pre-purchase inspection, we think you should move on to another deal.
In essence, the choice between new and used boils down to a balance of budgeting and desired features.
Used car prices fluctuate more than new car prices. New car prices generally always rise with each new model year. On the other hand, used car prices undergo serious ups and downs. We track used car prices, and you can see this week’s update here.
3. Qualify For Financing
Financing is possibly the most daunting part, but with the right preparation and resources, it doesn’t have to be. Here’s what you should know BEFORE heading out to buy a car.
Most importantly, print out this auto financing cheat sheet!
- Credit Score: What’s your credit score? What are today’s average rates for your credit score? A higher score often means better interest rates. It’s essential to know where you stand, and if you have time before buying, what you can do to raise your credit score. In general, it’s important to pay all bills on time, and never miss a payment. There are plenty of free ways to monitor your credit these days.
- Debt-to-income ratio: Your debt-to-Income ratio is calculated by dividing all your monthly debt payments by your gross monthly income. Expressed as a percentage, it’s a snapshot of your financial obligations in relation to your earnings. As a general rule, auto lenders cap your debt-to-income ratio to 45% to 50%, but ideally it should be under 35%.
If your debt to income ratio is well above 35%, consider making payments to lower your debts before applying for an auto loan. You’ll qualify for a better rate, and save money on interest.
- Shop for loans the right way: Look into multiple sources of financing, including credit unions, local banks and auto manufacturer offers. For guidance, refer to this auto financing cheat sheet.
- Compare Loan Terms: Understand the length of your loan, monthly payments, and interest. Remember, the longer you have the loan, the more interest you’ll be paying. Generally, it’s best to not exceed 60 month loan terms.
Today’s average auto loan rates range from 9% APR with new cars to 13% for used cars. That adds up quickly, especially for big borrowers with longer loan terms!
If you’re considering a new car, check out the best auto loan rate offers today.
4. Shop Around – The Smart Way
Whether you’re buying new or used, you now have the tools at your fingertips to browse car listings with market insights on your side. Start with CarEdge Car Search, the internet’s first car listings featuring behind-the-scenes market data.
Ready to negotiate with unmatched market data? CarEdge Pro is your DIY car buying toolkit. Use Pro to see local prices, local supply of similar cars, and negotiability factors for every listing. Check out CarEdge Pro to see how you can save.
Once you’ve found multiple sweet deals, it’s time to take it for a test drive!
- Test Drive: Don’t rush it. If you’re serious about buying the car, you should experience it on the highway, in city streets, with the windows up, down, and just about any other condition you will find yourself in. This is your chance to check for red flags (but we always recommend an independent pre-purchase inspection too).
- Here’s what to consider when test-driving a car.
- Ask Questions: Understand every aspect of the deal, from CarFax vehicle history to warranties and optional add-ons like service packages. Expect the salesperson to pitch you products you may not want or need, and it’s up to you to push back against them. A common sales tactic is to tell you the monthly cost, while hiding the total cost of the product. Don’t fall for that!
- Negotiate: Prices can ALWAYS be negotiated. For your complete guide to negotiating car prices, download this FREE car buying cheat sheet!
NEW from CarEdge 👉 Use Dealer Invoice Pricing to Negotiate with Confidence (100% FREE)
5. Finalize the Deal
You’re close to the finish line! Now is NOT the time to rush through paperwork.
- Review everything: Go through the contract and ensure all terms are as agreed. Be on the lookout for sneaky fees, last-minute price changes, and forced add-ons.
- These are the car dealer fees you should never pay!
- Ask for copies of everything. You have the right to a copy of every contract you sign. If you’re agreeing to add-ons, warranties or any other product, be sure to get a printed copy of the product’s contract. Review the auto financing cheat sheet for examples.
- When you’re happy with the deal, it’s time to sign the paperwork: Make it official. If you’re uncertain about any terms, refer to this comprehensive car buying glossary and the car buying cheat sheet. Don’t sign until you understand exactly what you’re paying for!
You’re On Your Way!
Buying a car is no small feat, but with thorough research and the right resources, you can navigate the process with confidence. We’ve got 100% FREE resources to help you begin your journey with the empowerment that comes along with car buying know-how.
Here are the car buying essentials our team created just for you:
The Ultimate Car Buying Checklist
Car Buying Cheat Sheet – Know Exactly What to Say!
How to Finance a Car Like a Pro
The Easiest Way to Buy a Car in 2025
Here at CarEdge, our mission is to take the misery out of car buying for everyone, and to make the entire car buying process more transparent. What’s our plan for accomplishing these lofty goals? We’ve put a growing team of auto industry veterans to work for the good guys, you the car buyer!
With CarEdge Concierge, our pros listen to your needs, and take it from there. We find the perfect fit, negotiate savings on your behalf, present you with the deal, and ship it to your home (if necessary). Learn more about buying with CarEdge. Save at least the cost of our service, or get your money back!
The Best New Car Incentives in August: Big Discounts Join Surprisingly Low APRs This Month
What goes up, must come down, even in the stubborn auto market. We’ve been tracking new car inventory for months as dealer lots have steadily filled up, at least for some brands. The inevitable is finally happening: new car incentives are returning, and they’re back in a big way. Whether you’re looking to buy or lease, here’s where the best cash and financing incentives are today.
The Best Auto Loan Rate Offers
Want to finance your car with an irresistibly low interest rate? It’s not easy to do considering that the average APR for new car loans has climbed to 7.2%. These brands are offering appetizing APRs in August:
Hyundai, Ford, and Nissan: APR as low as 0.0% for most models. This is where you’ll find the best auto loan deals in August!
Chevrolet: As low as 1.9% APR for their sparkling 2023 models.
Honda: Save money on interest with APR as low as 0.9% for most models, including the Accord, Odyssey, Passport, Pilot, and others.
Subaru: APR as low as 1.9% for 2023 models, including the Outback, Crosstrek, Ascent and more.
Volkswagen: APR as low as 1.9% for the Taos and Tiguan crossovers.
Here’s every automaker’s best financing offers this month.
How to Finance a Car Like a Pro: The Ultimate Auto Financing Cheat Sheet
Cash Incentives Return
When new car inventory climbs, cash incentives come roaring back. For models with high inventory right now, manufacturer incentives are piling up. And when it comes to cash incentives, the deals are lavish:
Ford Mustang Mach-E: $3,000 off MSRP (but be wary of the dealers who continue to mark up their EVs).
Hyundai IONIQ 5 & IONIQ 6: Save a whopping $5,000, with existing Hyundai patrons getting a sweetened deal of up to $7,500 off.
Jeep: Adventure more with $4,750 off the Wrangler and $4,000 off the Grand Cherokee. Jeep inventory is through the roof, and prices WILL come down further.
Nissan Ariya & Kia EV6: Electrify your drive with up to $3,750 off. It’s notable that neither comes with the revised EV tax credit.
Toyota: Enjoy a lavish $7,500 cash incentive with the all-electric bZ4X, with the RAV4 Prime and Prius Prime following closely behind at up to $6,500 cash back. However, Toyota’s Prime models are still in short supply, so expect to shop around.
The Best Lease Deals in August
We pored over every automaker’s advertised lease deals for August to find the best of the best. In general, lease offers are much better this month than in the recent past. We’ve broken down lease deals by vehicle type:
The Best Sedan Leases
Hyundai Venue: At just $151/month, the Venue promises affordability with style.
Honda Civic Sedan: This legendary sedan is available at $259/month.
The Best SUV Leases
Chevrolet Equinox & GMC Acadia: At $269 and $289/month respectively, these SUVs offer an optimal blend of luxury and power.
Honda CR-V: Embark on your next journey at a breezy $309/month.
The Best Truck Leases
Silverado 1500 Crew Cab LT: A robust truck deal at $399/month.
Toyota Tacoma: This iconic truck can be yours at just $362/month.
The Best Electric Vehicle Leases
Chevrolet Bolt EV: $299/month for 36 months with $5,869 due
Mustang Mach-E GT: $398/month for 36 months for 39 months with $6,578 due
Hyundai IONIQ 6: $7,500 EV lease bonus (SE and SEL); $349 per month with $4,999 due
Hyundai IONIQ 5: $7,500 EV lease bonus (SE and SEL); $399 per month with $4,999 due
Tesla Model 3 RWD: $399 per month for 36 months with $5,594 due
Tesla Model Y: $569 per month for 36 months with $5,804 due
See every automaker’s lease deals in August
The Best Is Yet to Come
The new car market is undergoing an upheaval, and incentives are likely to get better in the weeks ahead. The combination of 7%+ interest rates, MSRP hikes and a softening used car market all point toward less demand for new cars. This is especially true for overpriced trucks and SUVS.
As you head out to shop the dealer lots, remember this: the savings don’t have to end with manufacturer incentives. CarEdge Coaches are seeing increased negotiability, and are helping buyers save thousands of dollars every day.
Take this FREE resource with you: The Ultimate Car Buying Cheat Sheet
Ready to work 1:1 with a car buying pro? Learn more about CarEdge Coach, your path to the most savings and the least stress. Prefer a DIY path to car buying? With CarEdge Data, you have the tools at your disposal to find the best deals and identify opportunities for negotiation.
And of course, we have hundreds of 100% free car buying guides just a click away. Don’t forget to connect with the CarEdge family over on our Community Forum.
We have car buying help to suit everyone’s needs. See how much you could save today!
The Most Popular Electric Cars, Trucks and SUVS in America
The numbers are in, and let’s just address this from the get-go: Tesla continues to dominate electric vehicle sales in America. We’ve got the latest data, and there’s a lot to digest. Check back for updates when Q3 2023 numbers are available.
EV Sales in America (2023 Totals Through Q2)
Here’s the latest EV sales totals via Auto News. These are the 2023 totals through the second quarter.
| Make | Model | Total Sales (2023) |
|---|---|---|
| Tesla | Model Y | 190,500 |
| Tesla | Model 3 | 121,500 |
| Chevrolet | Bolt (EV and EUV) | 33,659 |
| Tesla | Model S | 19,100 |
| Volkswagen | ID.4 | 16,448 |
| Ford | Mustang Mach-E | 14,040 |
| Hyundai | IONIQ 5 | 13,641 |
| Tesla | Model X | 11,900 |
| Genesis | GV60 | 11,320 |
| BMW | i4 | 10,724 |
| Ford | F-150 Lightning | 8,700 |
| Kia | EV6 | 8,328 |
| Rivian | R1T | 7,811 |
| BMW | iX | 6,486 |
| Rivian | R1S | 6,336 |
| Polestar | Polestar 2 | 5,783 |
| Mercedes-Benz | EQS SUV | 5,490 |
| Nissan | Ariya | 5,195 |
| Audi | Q4 e-tron | 4,682 |
| Mercedes-Benz | EQS Sedan | 4,539 |
| Volvo | C40 | 4,533 |
| Nissan | Leaf | 4,234 |
| Toyota | bZ4X | 3,659 |
| Mercedes-Benz | EQB SUV | 3,404 |
| Hyundai | IONIQ 6 | 3,245 |
| Porsche | Taycan | 3,162 |
| Mercedes-Benz | EQE Sedan | 2,990 |
| Mercedes-Benz | EQE SUV | 2,845 |
| Audi | e-tron | 2,513 |
| Audi | e-tron GT | 1,786 |
| Lucid | Air | 1,390 |
| Audi | Q8 e-tron | 1,119 |
Tesla continues to lead with 68% market share among US EV sales. In other words, all other EV sales combined still can’t compare to Tesla’s domination.
The next best-selling EVs in America behind Tesla are the Chevy Bolt, the newly American-made Volkswagen ID.4, the Ford Mustang Mach-E, and the Hyundai IONIQ 5.
The Chevrolet Bolt EV has had a record sales year. Bolt EV and EUV sales were up 100% year-over-year in the second quarter. It looks like the Bolt is having success right as GM decided to cancel it. Perhaps that’s a major reason why they recently mentioned a resurrected Bolt in the future, powered by the superior Ultium batteries.
The Ford F-150 Lightning is by far the best-selling electric truck in America, with Rivian quite a ways behind. We don’t expect the Lightning to have serious competition until the Silverado EV comes along. Full production is unlikely before next spring.
Stay tuned for the next update as Q3 2023 numbers come out. Will Tesla continue to dominate, or will legacy automakers FINALLY catch up? What do you think? Leave us a comment below. We’d love to hear from you.
