Best Car Deals: February 2011
It's a good month to be a new car shopper. Car companies are emerging from the recession, and they've decided to stick with what's been driving sales: incentives and discounts. That means lower prices for car shoppers.
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TrueCar.com, which tracks new car pricing and incentives, reports that new car sale prices were down in January, and incentive spending was up. Analysts expect that trend to continue in January. Edmunds also reports that new car incentives were up $177 as compared to January 2010.
"January incentives were flat compared with December 2010, which means many car buyers didn't actually have to rush to take advantage of heavily advertised ‘year end’ deals," said Jessica Caldwell, director of industry analysis for Edmunds.com.
January and February are traditionally slow months for car sales, but most manufacturers are trying to buck that trend with good discounts. Even on all-new 2011 models, there are deals available. Overall, Edmunds says that domestic car companies are spending an average of $3,371 on incentives, while Japanese car makers are spending $1,876, on average, per new car. Buoyed by strong sales, Korean car makers Hyundai and Kia have decreased incentive spending and now average only $1,427 on incentive spending per car sold. In fact, we couldn't find any Hyundai deals and just a few on Kia models—though one we found is on the excellent 2011 Kia Optima. "Hyundai continues to take the automotive industry by storm. They now spend the least amount on incentives per unit out of all major manufacturers helping improve their transaction price, while increasing market share,” said Toprak.
Hyundai and Kia aside, the deals are out there; you just have to take advantage of them. Throughout most the country, car makers are offering a combination of low-interest financing and cash back offers to new car buyers. If you're looking to trade down to a fuel-sipping Mazda2 or trade up to a snow-crushing Nissan Armada, there are deals for every car shopper.
If these deals don't work for you, 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 deals for February 2011 are below:
2011 Ford Taurus: $1,500 cash back or zero percent APR for up to 36 months in most of the country
The Ford Taurus has dominated the large car class since its redesign, and the 2011 model is no different. With the Taurus being such a strong performer, you might think you’d have to pay a premium to get one. But, you can get all the space, comfort and style of the 2011 Ford Taurus this month with $1,500 cash back or zero-percent financing for up to 36 months. It’s also our 2011 Best Family Sedan for the Money. Expires: 04/04/11
MSRP: $25,170 - $33,620
Invoice: $23,348 - $30,953
MPG: 18 City / 28 Hwy
2011 Nissan Armada: 1.9 percent financing for up to 36 months or $3,500 cash back
Winter is having its way with most of the country, and with towns and cities struggling to keep roads clear, it’s easy to look at your current car and wish it was more capable of battling icy roads. Enter the 2011 Nissan Armada. Not only does this monster SUV have seating for up to eight, a power V8 and a near-luxury interior, but its available four-wheel drive system makes short work of snow drifts. This month, you can get the Armada with 1.9 percent financing for 36 months or $3,500 cash back. The only downside of jumping on this offer is that it’ll take away your excuse for not being able to get to work when it snows. Expires: 02/28/11
MSRP: $37,910 - $52,890
Invoice: $34,516 - $48,134
MPG: 13 City / 19 Hwy
2011 Mazda2: 0.9 percent APR for up to 60 months
The Mazda2 packs a lot of fun into a seriously small package. While its subcompact size means it’s not a great choice for families, singles and couples without kids will love its flingable handling and zippy urban performance. Weaving in and out of city traffic is no problem, and the Mazda2 slips into parking spaces that make other small cars blush. On the highway, the 2’s engine may leave some drivers wanting more, but the Mazda2 can still zip by other small cars it encounters. This month, you can grab one with 0.9 percent financing for up to 60 months. Expires: 02/28/11
MSRP: $14,180 - $16,435
Invoice: $13,996 - $16,216
MPG: 29 (Est) City / 35 (Est) Hwy
2011 Kia Optima: 1.9 percent APR for up to 36 months
Like its corporate cousin, the Hyundai Sonata, the Kia Optima is all new for 2011. The difference between the two? The Optima, in addition to having the edgy styling, long warranty and long list of standard features that the Sonata has, is available with 1.9 percent APR financing for up to 36 months from Kia this month in most parts of the country. Not only does going for this deal on the Optima put your budget at ease, but you can also rest easy knowing that the Kia Optima has been named a 2011 Top Safety Pick by the Insurance Institute of Highway Safety. Expires: 02/28/11
MSRP: $18,995 - $25,995
Invoice: $18,620 - $24,290
MPG: 22 City / 32 Hwy
2011 GMC Acadia: Up to $2,000 cash allowance or zero percent APR for up to 60 months
Not as budget-friendly as Chevrolet or as fancy as Cadillac, GMCs are the Jan Bradys of GM’s SUV lineup. But, passing over GMC isn’t a smart move: these SUVs offer the same flexibility, comfort and performance as Chevrolet and Cadillac SUVs, but with more masculine styling. Trust us: a GMC will never get lost in a car pool full of lookalike SUVs. This month, the savings on the GMC Acadia, one of the best midsize SUVs you can buy, make it more attractive. Choose between $2,000 cash back or zero-percent APR for up to 60 months for qualified buyers. With that kind of deal on a GMC, you’ll soon be asking, “Marsha who?” Expires: 02/28/11
MSRP: $31,840 - $45,22
Invoice: $30,248 - $42,959
MPG: 17 City / 24 Hwy
2011 Honda CR-V 0.9 percent APR financing for up to 36 months
Thousands of parents can’t be wrong: the Honda CR-V is a great crossover for small families. With a practical and comfortable interior, strong around-town performance (it’ll slip easily into any sport at daycare), and great cargo space for all your gear, the CR-V has been a reviewer and consumer favorite for years. As a result, Honda doesn’t have to offer too many deals on it. But, this month, you can get the 2011 CR-V with 0.9 percent financing for up to 36 months. That’ll get you into a new CR-V and leave plenty of cash in your kids’ college fund. Expires: 02/28/11
MSRP: $21,695 - $29,895
Invoice: $20,195 - $27,800
MPG: 21 City / 28 Hwy
