Memorial Day weekend is upon us and there are some really great deals on new, used and certified preowned vehicles.
We have seen impressive low interest rates, delayed first payments for up to 120 days and incentives that might have your thinking to upgrade your ride. Will the steep discounts motivate car shoppers?
There is interest even with the Wuhan Virus or the COVID-19 crisis environment. Cars.com is seeing more people considering buying a vehicle, as many view their car purchase as a much-needed escape and safe mode of transportation.
There seems to be a turn away from big cities and mass transit with fears of the virus and the wanting to have your freedom to go away from any situation. U.S. car sales hit a 30-year low in April, with sales of new cars and trucks down 53% from the previous year, according to automotive research and information website Edmunds.
With shelter-in-place orders gradually lifting across the country, dealerships are gearing up with the usual Memorial Day deals—and this year, those deals may be particularly generous.
The best deals will likely be found for trucks and SUVs on 2019 model year vehicles. The average discounts of 17% on full-size trucks, 14.4% on midsize SUVs, and 16.3% on subcompact SUVs compared with the manufacturer’s suggested retail price. Discounts are slightly less on 2020 model year vehicles, to the tune of 13.4% on full-size trucks, 11% on midsize SUVs, and 13.5% on subcompact SUVs.
Lauren Fix, The Car Coach® is a nationally recognized automotive expert, media guest, journalist, author, keynote speaker and television host. Post your comments on Twitter: @LaurenFix or on her Facebook Page.
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