Consumers can conserve both gasoline and dollars ahead of Earth Day on April 22 while also reducing emissions with excellent savings off of MSRP on a variety of fuel-efficient cars this month, including hybrids from Hyundai, Toyota and Ford, and promotions supporting sales of electric hatchbacks, according to TrueCar, Inc. (NASDAQ: TRUE).
“Sustained low prices for fuel, along with state and federal incentives for plug-in hybrid and all-electric models, has made it more affordable than ever for consumers to go green,” said Eric Lyman, TrueCar’s vice president of industry insights. “California, the biggest market for plug-ins and electric vehicles, has also increased rebates this year for qualified electric-drive models to encourage more sales to middle-income consumers – and eliminating rebates to wealthier individuals earning $250,000 or more a year and families with combined incomes of $500,000 and above.”
Notable savings in April include Hyundai’s 2016 Sonata Hybrid sedan, currently transacting for 13 percent off of MSRP, followed by Toyota’s 2016 Camry Hybrid SE, with as much as an 11 percent discount off of MSRP. Ford’s 2016 C-Max Hybrid SE hatchback also has double-digit savings off MSRP of 10 percent. FCA’s 2016 Jeep Patriot Sport, featuring 21 city/28 highway MPG, boasts the highest savings this month, transacting at a 17.3 percent discount off MSRP. Along with fuel efficiency, the compact SUV also offers no compromise for consumers with 1,000 pounds of towing capability and available four-wheel drive.
While consumers interested in Tesla’s new Model 3 sedan are going to have to wait a while to take delivery, BMW is offering a lease promotion of as little as $319 per month for 36 months on its 2016 i3 electric hatchback, recognized by the U.S. Department of Energy as the most fuel-efficient vehicle in its category (offering the electric equivalent of 124 miles per gallon). Nissan is promoting a lease deal of as little as $209 per month for 36 months for its electric 2016 Leaf S hatchback that travels as far as 107 miles per charge.
For consumers seeking even more exotic options, Toyota has a 60-month, no-interest loan promotion for its hydrogen-powered Mirai fuel cell sedan, which emits only water vapor. The high-tech sedan also qualifies for a $7,500 federal tax credit for “trailblazers” that finance or purchase the vehicle, as well as up to a $5,000 rebate from California, the only state where it’s currently available.
“Automakers have increased fuel efficiency across the board, making even gasoline-only models more eco-friendly,” said Cari Crane, TrueCar’s senior industry analyst. “Hybrids and electric vehicles are a great option for many consumers, but increasingly nearly all new cars and trucks coming to market today benefit from improved aerodynamics, lightweight materials, more efficient lighting and components that weigh less and use less power, adding up to vehicles with better fuel economy and driving range, cleaner tailpipe exhaust and lower ownership costs.”
Published monthly, the “TrueSavings” report analyzes recent transaction prices and identifies opportunities for consumer savings.
A snapshot of some of the best savings (relative to MSRP) on new vehicles in April 2016:
Year/Make/ | Segment | MSRP | Market | $ Savings / | Est. Monthly | City / Hwy / | ||||||||||||
2016 Jeep Patriot | Small SUV | $18,590 | $15,374 | ($3,216)/17.3% | $184 | 23/30/26.4 | ||||||||||||
2016 Toyota Camry | Midsize Car | $28,830 | $25,660 | ($3,170)/11% | $307 | 40/38/38.9 | ||||||||||||
2016 Ford C-Max | Small Car | $25,045 | $22,475 | ($2,570)/10.3% | $269 | 42/37/39.1 | ||||||||||||
2016 Hyundai Sonata | Midsize Car | $26,835 | $23,311 | ($3,524)/13.1% | $279 | 40/44/42.1 | ||||||||||||
2016 Chevrolet Silverado | Large Truck | $42,075 | $36,885 | ($5,190)/12.3% | $442 | 16/23/19.2 |
*“Market Average” is based on the national average of recent vehicle
transactions, including destination and delivery charges after
incentives that are subject to change. This does not include tax, title,
licensing, documentation or processing fees, other state and
governmental charges and/or fees or any other charges or fees allowed by
law.
**Estimated monthly payments are based on a 2.5% APR for 72
months with 20% down on the current market average price, and excludes
sales tax and other fees and charges that may vary by region or state.
Average Customer Cash for TrueCar users**:
2016 Chevrolet
Equinox, AWD LT: on average $1,604 in customer cash
2016 Ford
Fusion, Hybrid SE FWD: on average $1,881 in customer cash
2016
Hyundai Sonata, Hybrid Limited: on average $2,776 in customer cash
2016
Kia Forte, Automatic LX: on average $1,964 in customer cash
2016
Ram 1500, Big Horn, Crew Cab, 4x4, Short Bed: on average $4,367 in
customer cash
**Based on average manufacturer-to-customer incentive offers reflected on TrueCar Certificates between 4/5/2016-4/12/2016 for the specified trim.
A snapshot of some of the best manufacturer lease and finance deals now available in certain regions:
Finance offers:
2016 Toyota Prius: 0.0% financing for up to
48 months, Exp: 5/2/16
2016 Honda CR-V: 0.9% financing for up to 36
months, Exp: 5/2/16
2016 Nissan Leaf: 0.0% financing for up to 72
months, Exp: 5/2/16
2017 Chevrolet Volt: 2.9% financing for up to
48 months, Exp: 5/2/16
2016 Mazda3 4-Door: 0.0% financing for up to
60 months, Exp: 5/2/16
Lease offers:
2016 Nissan Altima: $189/month for 36 months,
$2,499 down, 12,000 miles/year, no security deposit required, Exp: 5/2/16
2016
Lexus RX Hybrid AWD: $559/month for 36 months, $3,999 down, 10,000
miles/year, no security deposit is required, Exp: 5/2/16
2016
Volkswagen Tiguan: $179/month for 36 months, $2,499 down, 36,000 miles,
no security deposit is required, Exp: 5/2/16
2016 Cadillac CTS
Sedan, Standard Collection: $429/month for 36 months with $4,349 down,
30,000 miles, no security deposit is required, Exp: 5/2/16
2016
Mercedes-Benz B-Class Electric Drive: $349/month for 36 months, $4,143
down, 30,000 miles, no security deposit is required, Exp: 5/2/16
(The deal information summarized above is provided for illustrative purposes only, and is not an offer to lend. Results may vary depending on your individual circumstances, including credit approval by dealer/manufacturer. Deals are subject to change and are limited to inventory on hand. See your dealer/manufacturer for details, including actual offers available in your region.)
About TrueCar
TrueCar, Inc. (NASDAQ: TRUE) is a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience. TrueCar operates its own branded site and its nationwide network of more than 11,000 Certified Dealers also powers car-buying programs for some of the largest U.S. membership and service organizations, including USAA, AARP, American Express, AAA and Sam's Club. Over one third of all new car buyers engage with the TrueCar network during their purchasing process. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information, go to www.truecar.com. Follow us on Facebook or Twitter.
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