Unsold SUV Inventory Causing Prices to Drop

Getting a great, affordable deal on an SUV or luxury SUV may seem too good to be true. But there’s never been a better time than right now to buy SUVs at reasonable prices – and that’s because many dealerships are being left with excess inventory due to a combination of market demand shifts and an overproduction of SUVs by manufacturers.

Many of the top SUV lines have not changed in recent years, but due to last years unsold models prices are dropping. This is making it very easy to steal a great deal on an SUV.  The auto market is making SUVs more affordable than usual – but this climate won’t last forever. You need to start looking for new SUV deals now if you want to take advantage of the available incentives; odds are they won’t last long.

Two developments in the auto marketplace have combined to put considerable downward pressure on the prices of new SUVs. The turn over market for leased vehicles is giving buyers a lot of gently used recent model SUVs you can buy used.  Then we have the fantastic shift in consumer demand away from sedans and towards SUVs. When there is a demand, surplus of supply follows. New SUVs are now more affordable than ever, thanks to a surplus of unsold inventory from the 2018 model year, manufacturers are scrambling to clear space for new 2019 models.

If you’re in the market for an SUV of any kind, acting now could save you substantially. Here’s what you need to know about SUVs and luxury SUVs: why they’re more affordable now and how you can find the best deals.

How You Can Save BIG Right Now On A New SUV

Thanks to these 3 major shifts in the marketplace, you have a tremendous opportunity to get the vehicle you want an extremely low price

• Consumers are giving back their leases at an epic rate⁴. This left thousands of dealerships with barely used cars that have very few miles on them

• A shift from large gas-guzzling SUVs to more efficient and reliable cars

• The model year is coming to a close and dealerships need space for new cars

These conditions combined to form the perfect storm. Now consumers have access to the latest crossover SUVs and trucks at rock bottom prices.

New OR Used?

Should I buy new or used? That is the question, and everyone you asks has an answer and a reason and an Uncle with a story. the Truth is it depends. Unfortunately there is no one-size-fits-all answer. There are sound reasons to buy new and sound reasons to buy used.

Too often the only questions we ask ourselves: Will I look good behind the wheel? and How big a monthly car payment can I afford? Neither of these questions will help you make smarter car buying decisions. Buying a car based on how much car payment you think you can afford per month will almost always ensure you buy too much car and pay too much for it. It’s also the wrong question to ask yourself when deciding between new and used.

Luxury SUVs?

Luxury SUVs are typically sports utility vehicles with premium features that go well above and beyond the basic necessary function. High-end materials, like wood and leather, are often incorporated into the interiors of luxury vehicles, as are premium sound systems and other advanced infotainment features. Enhanced safety features, such as adaptive cruise control, are also usually found on luxury models but not the average SUV.

Luxury vehicles also tend to involve a special performance component. Many, though not all, luxury SUVs feature powerful engines and perform beyond the level of a basic SUV, Consumer Reports writes. Performance SUVs often include enhanced transmissions, suspensions, and braking for a smoother and more responsive driving experience.

New Options

There are a lot of benefits of purchasing new. You can get the latest technology, including things like Apple CarPlay and Android Auto. Most new cars come with Bluetooth phone connectivity, so you can use your phone legally while driving, without having to purchase an aftermarket Bluetooth interface. Automobiles come from the factory with warranty coverage for at least the first three years or 36,000 miles, whichever comes first. That gives you a predictable cost of ownership over the first few years you own it, without much risk of a huge repair bill. Purchasing a new car is easier than buying used. With so many versions of the model you want at the dealership, you’ll likely find the car you are looking for on the lot. If not, your local dealer can trade inventory with another dealer to find the exact model, option list, trim level, and color you are looking for.

Manufacturers also offer special financing incentives and lease deals on new cars that aren’t typically found on pre owned models. If you do the math, some zero percent financing deals can bring the total amount of money you’ll pay for the car down to the level of used cars with traditional financing. If you are seeking a loan from a bank or credit union, you will generally be offered a lower interest rate on a new vehicle than you would on a preowned model.

Best New SUV Deals

Chevy

Chevy has some great purchase options on the 2019 Equinox.  The 2019 Chevrolet Equinox LS/Premier/LT is getting 0% APR for 72 months for qualified buyers.That monthly payment is $13.89 for every $1000 you finance. In addition to that they have $4876 in rebates and incentives. The Equinox doesn’t skimp on standard features, rounding out a truly versatile compact SUV and one of the best buys on the market.

Ford

The Expedition and Explorer from Ford, lets check these out. Ford is throwing financing offers at their top end SUVs. Making some very attractive offers. Along with rebated and incentives they are putting up 2.90% financing for 84 months on Explorer and Expeditions.  Now I never recommend taking a 7th year financing option but it will drastically reduce your monthly payment. While not adding to much to your total cost.

Infiniti

Infiniti has some offers you may want to explore and some great new SUV deals. Cost on these high end luxury SUV are quite comparable and affordable. Boasting four models in 2016, Infiniti offered a crossover vehicle or sport utility vehicle for almost any luxury preference. An entry-level compact premium crossover, the Infiniti QX50 was heavily revised for the 2019 model year. Snagging 0.9 percent APR financing for 60 months is offered on remaining 2018 QX50 models. Infiniti’s flagship QX80 is also featured with 0.9 percent financing. The only 2018 Infiniti vehicle to be available with front-wheel drive, seven-passenger crossover QX60 can be acquired with 60-month, 1.9 percent APR financing. For people requiring aid due to a physical disability, the Infiniti Mobility Assist offer provides a reimbursement for approved equipment meant to improve accessibility.