SHOPSMART AUTOS – CUSTOMER INFORMATION – SEPTEMBER 6, 2021
Labor Day is still a good time to buy a car
If you’re hoping to take advantage of special Labor Day car sales, a trade-in could make the purchase a bit less costly than usual. With inventory at dealerships still tight, used cars are fetching a premium. For instance, the average list price for a 2017 model climbed to $24,287 in August, up $721 from July and up nearly $1,500 from June, according to data from Edmunds.com. “Car shoppers are experiencing an interesting dynamic right now, because local dealerships may pay more for a popular vehicle this year than in years past,” said Matt Smith, deputy editor of CarGurus.com. Car-buying activity has picked up after dropping off at the beginning of the pandemic, although August sales for new cars were an estimated 10% lower than a year earlier, according to a forecast from J.D. Power and LCM Automotive. And while production has ramped back up after pandemic-related plant closures, availability of some 2021 models may be limited. In August, about 4.6% of sales — roughly 1 of every 20 cars sold — involved 2021 models, up from 1.8% (1 of every 50 cars) in July, Edmunds research shows. Right now, 2021 versions comprise 12% of new-car inventory on Cars.com, said Kelsey Mays, the site’s senior consumer affairs editor. The remainder are largely 2020 models — which is where the best incentives might be found. For instance, the 2020 Kia Soul, with a starting price of roughly $17,500, offers $2,000 off, plus another $1,000 on certain versions, according to Cars.com. Qualified buyers can get 0% financing for 66 months. The 2020 Nissan Murano, which starts at about $31,500, comes with $4,000 off, plus $1,000 for the SL or Platinum trims. Or, you may qualify for 0% financing with 72 months plus bonus cash.
USED-CAR VALUES JUMP
USED CAR (2017 MODEL) |
AUGUST 2020 VALUE |
MARCH 2020 VALUE |
INCREASE |
FORD F-150 |
$32,265 |
$28,541 |
$3,724 (13%) |
TOYOTA RAV 4 |
$21,204 |
$20,124 |
$1,080 (5.4%) |
CHEVY SILVERADO 1500 |
$31,291 |
$27,299 |
$3,992 (14.6%) |
JEEP GRAND CHEROKEE |
$27,489 |
$26,683 |
$806 (3%) |
TOYOTA TACOMA |
$32,386 |
$28,736 |
$3,650 (12.7%) |
Tags: 2019 Subaru Forester Touring, 2020 BMW iX3, 2020 Chevrolet Suburban, 2020 dodge charger, 2020 EQC, 2020 Ford Super Duty, 2020 Honda Pilot, 2020 Kia Optima, 2020 Mercedes Benz, 2020 Nissan Versa, 2020 Subaru WRX STI, Audi SUV, BMW, Brandon K. Hardison, Chevrolet Car, Chevrolet Sonic, Dodge charger, electric vehicles, honda, Honda Pilot, Hyundai SUV, Mercedes Benz, Nissan Rogue, SUV, upcoming car, Volkswagen, Volkswagen Tiguan SEL Premium R-Line, Volvo Car
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