Best Car Deals: December 2010
It looks like 2010 is ending on a better note than it started -- for both car makers and consumers. For most car companies, sales are climbing. At the same time, however, prices are dropping.
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TrueCar.com, a company that tracks new car pricing trends, reports that the average price for new cars in November 2010 was down $715 as compared to November 2009, and down $435 from October of 2010. TrueCar also estimates that manufacturers spent more on incentives in November – that means bigger discounts for buyers. "Even though incentives appear to be slightly higher this year, automakers are becoming smarter by focusing on low APR and special lease programs -- strategies with relatively low costs due to near zero interest rates and much improved residual values,” says said Jesse Toprak, VP of Industry Trends and Insights at TrueCar.
As automakers head into the homestretch of 2010, they’re looking to keep the good sales news coming. And, consumers are feeling better about entering the market now that the economy is slowly improving. "Sales are up in many segments. Small car volumes are edging higher as those buyers were really frozen out of the market before. The luxury customer, with a better net worth thanks to the stock market, is back,” says Michelle Krebs, a Senior Analyst with Edmunds. "Trucks and SUVs are up, as consumers seem comfortable with gas prices. It's still not a blistering hot market but it looks like the spring thaw is starting – early.”
If you’re in the market for a new car, this is all good news. Automakers are seeing their incentives work, so most are continuing to offer low- and no-interest financing deals. And, December tends to be one of the best months for new car discounts. Automakers and dealers want to close out the year with strong sales. Plus, 2011 models are hitting dealer lots, making less room for 2010s, which means some dealers will be more willing to negotiate. Since most cars don’t change year to year, you may be able to save a lot of cash by going for a 2010 model.
Some of the best deals come from domestic automakers, with Chevrolet offering up to $3,500 cash back or zero-percent financing for up to six years on some models. Ford is no slouch with up to $2,000 on some of its best 2010 models, like the Ford Fusion. Interest-free financing is also available at Nissan and Toyota, but the terms tend not to be quite as long as what Ford and Chevrolet are offering.
Even luxury car makers are offering entincing deals. While Lexus is known for its December to Remember sales event, which focuses on leasing, Infiniti has financing rates as low as 0.9 percent -- even on some 2011 models. BMW even seems touched by holiday spirit. They’re offering 0.9 percent financing and $1,500 Holiday Credit. While that’s not a great deal compared to the thousands you can save with Chevrolet, it’s an almost-unheard of deal for BMW. Plus, it applies to most 2011 models.
The best car deals for December are below. However, don’t limit your shopping to just this page -- we’ve got the best deals for Toyota, Nissan, Ford, Honda, Chevy, Lexus, Infiniti, Jeep and Chrysler. We also have this month’s best lease deals and best deals on used cars. There’s a great deal out there for you, and we’ve done the research to help you find it.
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The best car deals for December are below.
2011 Chevrolet Cruze: 2.9% financing for up to 60 months
As small car debuts go, the 2011 Chevrolet Cruze is a textbook example of doing it right. Not only do reviewers love the roomy interior on the Cruze, but they’re also impressed with its fuel-sipping performance and quality materials. The Cruze may not have the lowest interest rate available this month, but 2.9 percent on a new model – especially one that ranks at number seven in our affordable small car rankings – is a rare thing, and one that’s worth checking out.
MSRP: $16,275 - $21,975
Avg. Paid: $16,798 - $22,424
MPG: 24 City / 36 Hwy
2010 Ford Fusion: 0% financing for up to 60 months
If Ford is undergoing a resurgence, it’s powered in part by the Fusion. This award-winning sedan has been a sales winner for Ford, and with good reason. Reviewers say it’s fun to drive for a family sedan. Plus, it has a comfortable and upscale interior and good fuel economy, even if you don’t go for the hybrid. For the rest of the year, most of the country can get the Fusion interest-free for up to 60 months.
MSRP: $19,695 - $28,505
Avg. Paid: $19,334 - $27,648
MPG: 22 City / 30 Hwy
2010 Nissan Maxima: 0% financing for up to 36 months
The Nissan Maxima has sports-sedan performance, but compared to cars like the Infiniti G37 or BMW 3-Series, the Maxima is much more affordable. It’s roomier too, making it a comfortable family car for people who don’t want to sacrifice driving fun. In December, you can get the Maxima for zero-percent APR for up to 36 months in most of the country.
MSRP: $30,690 - $33,410
Avg. Paid: $29,006 - $31,502
MPG: 19 City / 26 Hwy
Subaru Forester: 1.9% financing plus a donation to a charity of your choice
The Subaru Forester didn’t change much from 2010 to 2011, and reviewers say that’s a good thing. Subraru doesn’t have to mess with the Forester’s mix of practicality and sure-footed all-wheel drive. What’s even better is that Subaru doesn’t need to offer incentives -- they just reported the strongest November sales in company history -- but they do. This month you can get 1.9 percent financing on the 2010 Forester. If the way the Forster handles snowy roads doesn’t warm your heart, maybe this will: through January 3, if you buy a new Subaru, Subaru will donate $250 to your choice of five charities.
MSRP: $20,295 - $28,495
Avg. Paid: $19,873 - $27,615
MPG: 20 City / 27 Hwy
BMW X5: 0.9% financing and a $2,500 holiday credit
This deal is for those who’ve been very, very good this year. While the BMW X5’s price keeps it from being a class leader in our midsize SUV rankings, reviewers love the X5 for its sharp driving dynamics and its luxurious interior. For 2011, the X5 got updates that increase power and fuel economy. But, that hasn’t stopped BMW from offering 0.9 percent financing and a $2,500 holiday credit on the X5. Even better, the offer applies to the X5d, which has a diesel engine that improves fuel economy and delivers gobs of torque.
MSRP: $45,800 - $58,400
Avg. Paid: $44,228 - $56,097
MPG: 16 City / 23 Hwy
2010 GMC Yukon 0% financing for up to 72 months or $3,000 cash back
It’s easy to overlook the GMC Yukon. It tends to blend in with the Chevrolet Tahoe and Cadillac Escalade. But, don’t forget about the Jan Brady of GM SUVs. The Yukon is just as comfortable, capable and easy to live with as its more famous siblings. And, while the 2011 GMC Yukon is available with 2.9 percent financing in December, get your hands on a 2010 model (which is nearly identical) and get zero-percent financing or $3,000 cash back. Marsha who?
MSRP: $38,535 - $58,990
Avg. Paid: $38,027 - $59,191
MPG: 15 City / 21 Hwy
