Over the past decade, sales of SUVs declined steadily. Gas prices were high and getting higher all the time, and SUVs were the gas guzzling behemoths on the road. People began to exchange SUV purchases for more efficient vehicles, and in response to lower sales, prices on SUVs trended steeply upward. It looked like the SUV might be dying.
But due to a combination of factors, SUVs are now becoming more popular than ever. Car dealerships realized that they needed to liquidate current stock in order to free up space on their lots, leading them to reduce their prices. Manufacturers also took up the challenge to design more fuel-efficient SUVs, addressing a consumer demand. To tempt buyers back into the SUV market, manufacturers also set their starting prices for these new models lower. The end result is that buyers are finding incredible deals on SUVs in models both old and new. Stick with us to find out how you can snag one of your own.
A New ERA of SUV
Up until about 2017, gas prices were hovering at record highs. Since April of 2017, however, gas prices have fallen by about 11% each month. That has put the cost of fueling an SUV back into the range of possible for many consumers.
But more than just the fuel cost, SUV manufacturers needed to overcome a lack of consumer interest in heavy, inefficient vehicles. So they went to work on a new line of SUVs and crossovers that blended the size and cargo room of SUVs with the performance and efficiency of sedans. The new fuel-efficient models became instant hits, and manufacturers started to up their production numbers again.
The result of increased production for dealerships is that they suddenly found space at a premium. The influx of brand new SUV models meant that older models needed to be sold quickly.
How to Find SUV Deals
As dealers seek to make space for new models, you can find amazing deals on new SUVs from the last model year. This can include cash back incentives, low APR financing, luxury upgrades, and maintenance packages. Deals vary from location to location and state to state, so the first step for you is to do your research.
A web search is more likely to reveal fantastic deals than if you start at the dealership itself. You can search by the type of vehicle you want and set parameters for how far away it can be. Alternately, if you aren’t tied to a specific make and model, search the stock of local dealers. When you arrive on site, you’ll know what to ask for. If you’re not prepared, the odds that the dealer will come out and tell you about the best deals are slim.
Why Buy Now
This March, dealers are looking to liquidate 2018 and 2019 SUVs to make room for the 2020s, which will arrive soon. Though deals change every month, if you are open to an older model SUV, you should be able to find favorable terms.
- If you like the Subaru Forester, Nissan Kicks or Jeep Compass, you could take advantage of zero percent financing.
- Get 0.9% financing for 60 months plus $500 bonus cash on the 2018 Hyundai Tucson
- 2019 Chevrolet Equinox is offering 0% financing for 72 months plus $500 bonus cash
- On the 2019 Ford EcoSport, you can get 1.9% financing for 60 months OR $1,500 cash back
- Snag a 2019 Dodge Durango with 0% financing for 36 months plus up to $1,500 cash back
- Take advantage of 0% financing for 60 months plus $1,000 bonus cash on a 2019 Ford Escape
These are just a few of the widely advertised deals on 2018 and 2019 SUVs, but even better discounts could be found when you search locally. Taking advantage of the time when dealerships are looking to free up space on their lots could mean the difference between taking home a new vehicle instead of a used one.
However, true bargain hunters might want to consider a used vehicle. SUVs that have just come off a lease or have been retired by a rental car company can be a very smart purchase. These SUVs are still young with low mileage and have been meticulously maintained.
SUVs offer the benefit of ample cargo and passenger space along with rugged all-weather handling. Now you can have all that plus the fuel efficiency that these vehicles once lacked. If you are intrigued by the possibilities, start your research now to take advantage of the time when dealers need to make room for new model year vehicles.
Don’t despair if you miss this one window – the release of new model years are now staggered throughout the year rather than dropped all at once. No matter when you are ready to make a purchase, take the time to thoroughly explore the dealerships in your local area, both online and in person, and chances are good that you’ll be driving away with an amazing deal on an SUV you love.
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4. cars.usnews.com, 2018 Nissan Kicks
5. cars.usnews.com, 2019 Jeep Compass
6. cars.usnews.com, 2018 Hyundai Tucson
7. cars.usnews.com, 2019 Chevrolet Equinox
8. cars.usnews.com, 2019 Ford EcoSport
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10. cars.usnews.com, 2019 Ford Escape
11. nerdwallet.com, Is Buying a Rental Car a Good Idea?
12. consumerreports.org, The Most Fuel-Efficient SUVs