If you’ve been thinking about getting a new SUV or crossover lately, you’re in luck. Current market conditions have made SUVs more affordable than ever. Dealerships are desperate to offload unsold 2018 and 2019 inventory to make space for the 2020 models. This allows smart online users to benefit and secure an incredible deal on a new car.
There are two big reasons for why it is possible to get a huge discount on a new SUV today:
1. New SUV models have been introduced before the previous ones sold.
2. Prior year SUV models were overproduced, leading to a surplus of supply.
Both of these scenarios allow for consumers to take advantage of steep price drops. Dealerships are scrambling to clear out this unsold inventory, as they are required to make space for 2020 models.
Are you wondering how to find these car discounts? If you’re reading this article, you’ve already got the research skills required. Looking online and comparing options is the best strategy. Read on for further details.
SUVs & Crossovers & Pickup Trucks
In recent years, dealerships have experienced reduced demand for cars and sedans. Meanwhile, the demand for SUVs, crossovers, and trucks has increased.
To be clear, the difference between SUVs and crossovers is primarily due to the platform. SUVs use the platform of a truck while crossovers use the platform of a car. This makes crossovers generally a more fuel efficient option. Sometimes you might still see crossovers referred to as SUVs.
According to TheDrive¹, the number of SUV and crossover offerings in the US will increase by almost 53% by 2023, from 118 offerings in 2017 to 180 models in 2023. This is due to the increased demand for SUVs by younger consumers.
In response to this increased demand, a few things have happened. First, many dealerships have overestimated the demand and ordered way too many SUVs. They need to find a way to get rid of the ones that don’t sell, and they often do this by lowering prices.
Also in response to this increasing demand, dealerships are ordering more new SUVs each year. This means they’ve got a ton of new models they need to fit on the lot.
When there are 2018 and 2019 models that still haven’t sold, they need to get rid of them, and they need to do so quickly. With more and more 2019 SUVs to fit on the lot, there is less room for the 2018 ones. What does this mean? Steep discounts and more affordable pricing!
How to Find the Best Deals
To find the best deals available, your best bet is to look online. Dealerships often offer online-only pricing which is cheaper than their in-person offerings. Moreover, this saves you the hassle of having to negotiate.
With a simple online search, you’ll be able to find a number of deals and incentives offered by your local dealerships.
Consider comparing multiple options as well, especially if you’ve got some flexibility on what car make you buy. Some dealerships will very often have better promotions (and more unsold inventory) than others. Naturally, doing a little bit of extra research can really pay off.
As off-lease cars continue to hit the dealerships and older models become irrelevant, you can expect to see car dealerships offer some incredible deals on SUVs, crossovers, trucks, and compact cars alike.
So, if you’ve been planning on buying a new car, now is a great time to look for deals. These amazing SUV deals won’t last forever, though, so you should be sure to strike while the iron is hot.