SANTA MONICA, Calif.--(BUSINESS WIRE)--Consumers in the market for a small car may want to make the leap in February as there are notable savings off MSRP on multiple models, including the 2016 Hyundai Elantra, according to TrueCar, Inc. (NASDAQ: TRUE).
Market demand has shifted toward crossover utility vehicles and automakers are focusing incentives on small, midsize and large sedans in order to increase their appeal with consumers.
“Presidents Day weekend typically kicks off the first sales event of the year,” said Eric Lyman, TrueCar’s vice president of industry insights. “The popularity of trucks and utilities is driving the market and is still growing, so we’re seeing promotions aimed at creating sizable savings on cars. The small car segment is a great fit for consumers seeking high fuel efficiency paired with practicality.”
In particular, the Ford Focus is transacting as much as 14 percent off MSRP, and the Toyota Corolla is available with zero percent financing for up to 60 months. The Mazda3 compact also has no-interest financing for up to 36 months. Volkswagen is offering a special lease promotion of $139 for 36 months on its Jetta model.
Last year, the non-premium compact utility segment trumped the non-premium compact car segment in sales for the first time. This trend should continue in 2016.
“This year we’re expecting small crossover and utility vehicles to outpace the compact car segment for a second-consecutive year,” said Stacey Doyle, TrueCar’s senior industry analyst. “However, small cars remain well-liked by many consumers and are still a high-volume contributor to the industry. Last year nearly one out of every seven sales was a vehicle from this segment.”
Published monthly, the “TrueSavings” report analyzes recent transaction prices and identifies opportunities for consumer savings.
A snapshot of some of the best savings (compared to MSRP) on new vehicles in February 2016:
$ Savings /
Est. Monthly Payment*
City / Hwy / Comb MPG
|2016 Jeep Compass, Sport FWD||Small Utility||$20,590||$17,144||$3,446/ 16.7%||$205||23/30/26.4|
|2016 Ram 1500, Lone Star, Reg. Cab, 4X2, Std. Bed||Large Truck||$32,955||$28,108||$4,847/ 14.7%||$337||17/25/20.6|
|2016 Ford Focus, HB SE||Small Car||$19,890||$17,136||$2,754/ 13.8%||$205||30/42/35.6|
|2016 Hyundai Elantra||Small Car||$22,535||$19,721||$2,814/ 12.5%||$236||27/37/31.7|
|2016 Audi A4, 2.0T FWD Multitronic Premium||Luxury Car||$36,825||$32,242||$4,583/ 12.4%||$386||24/31/27.4|
*Estimated monthly payments are based on a 2.5% APR for 72 months with 20% down on the current market average price, and excludes sales tax and other fees and charges that may vary by region or state. These examples are for informational purposes only, and are not offers to lend. See dealer/lender for details, including actual available offers.
“Market Average” is based on the national average of recent vehicle transactions, including destination and delivery charges after incentives that are subject to change. This does not include tax, title, licensing, documentation or processing fees, other state and governmental charges and/or fees or any other charges or fees allowed by law.
Average Customer Cash for TrueCar users**:
2016 BMW X5 sdrive35i: on average $2,830 in customer cash
2016 Chevrolet Silverado 1500, Crew Cab, Short Box 2WD LT: on average $2,925 in customer cash
2016 Dodge Grand Caravan, SE Plus: on average $3,268 in customer cash
2016 Hyundai Veloster, Automatic: on average $2,741 in customer cash
2016 Kia Forte, Automatic LX: on average $1,889 in customer cash
**Based on average manufacturer-to-customer incentive offers reflected on TrueCar Certificates between 2/2/2016-2/9/2016 for the specified trim.
A snapshot of some of the best manufacturer lease and finance deals now available in certain regions:
2016 Ford Escape: 0.0% financing for up to 60 months, Exp: 2/29/16
2016 Honda Accord Sedan: 0.9% financing for up to 36 months, Exp: 2/29/16
2016 Kia Soul: 0.0% financing for up to 66 months, Exp: 2/29/16
2016 Mazda3 4-Door: 0.0% financing for up to 36 months, Exp: 2/29/16
2016 Toyota Corolla: 0.0% financing for up to 60 months, Exp: 2/29/16
2016 Honda CR-V CVT 2WD LX: $229/month for 36 months, $1,999 down, 12,000 miles/year, no security deposit required, Exp: 2/29/16
2016 Lexus NX 200T: $379/month for 36 months, $2,999 down, 10,000 miles/year, no security deposit is required, Exp: 2/29/16
2016 Nissan Rouge: $189/month for 36 months, $3,299 down, 12,000 miles/year, no security deposit is required, Exp: 2/29/16
2016 Subaru Legacy: $199/month for 36 months with $1,869 down, 12,000 miles/year, no security deposit is required, Exp: 2/29/16
2016 Volkswagen Jetta S: $139/month for 36 months, $1,999 down, 36,000 miles, no security deposit is required, Exp: 2/29/16
(The deal information summarized above is provided for illustrative purposes only, and is not an offer to lend. Results may vary depending on your individual circumstances, including credit approval by dealer/manufacturer. Deals are subject to change and are limited to inventory on hand. See your dealer/manufacturer for details, including actual offers available in your region.)
TrueCar, Inc. (NASDAQ: TRUE) gives consumers transparent insight into what others paid and access to guaranteed savings off MSRP from TrueCar Certified Dealers. TrueCar’s network of more than 10,000 trusted Certified Dealers is committed to providing upfront pricing information and a hassle-free buying experience. TrueCar powers car-buying programs for some of the largest U.S. membership and service organizations, including AARP, American Express, AAA, Sam’s Club and USAA. Not all program features are available in all states. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information about TrueCar and industry analysis please visit www.truecar.com and insights.true.com. Follow us on Facebook or Twitter.
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