The Best Deals On Overstocked New Cars – Forbes
Passenger car sales accounted for only 36 percent of new vehicle sales in the U.S. last month, with buyers instead snapping up crossovers, SUVs, and pickup trucks at a rapidly accelerating pace. Given the provisions of the law of supply and demand, that means you should almost certainly be able to negotiate a much better deal on the sedan and coupe side of a dealer’s showroom floor these days.
Time is money to a new-car dealer, and the longer a vehicle sits unsold, the more he or she will pay in financing costs to keep it lingering on the lot. This is measured in terms of a model’s so-called “days in inventory,” with the slowest selling models generally being the easiest to bargain for.
With an 85-day supply currently being the industry average, the full-size Buick LaCrosse sedan is clogging dealers’ lots with an average 330 days’ supply, according to WardsAuto.com, which likely includes a smattering of leftover 2016 models. That’s 11 months’ worth of sales sitting around at the typical Buick dealership. Not only should an astute haggler be able to whittle the LaCrosse’s transaction price down to – perhaps even below – the so-called dealer invoice price (see below), the automaker is sweetening the deal with cash rebates as rich as $3,000, or $750 with 0.0% financing to 60 months.
In fact, all of Buick’s car lines – the Cascada convertible and the LaCrosse, Regal, and Verano sedans – populate WardsAuto’s list of the most inventory-jammed models. At Chevrolet dealers, the Camaro and Corvette sports cars were the most overstocked models last month, which possibly accounts for the raciest rides selling at a far slower pace during the doldrums of winter (as with air conditioning, you’ll usually be able to strike a better deal on a low-slung sporty coupe or convertible during the colder months than the warmer ones).
A couple of the models on the list – the midsize Chrysler 200 and compact Buick Verano sedans – are being discontinued this year because of slow sales and should command big discounts without much of an argument. Ditto for cars that have lingered for far too long without a major redesign, like the midsize Volkswagen CC and Buick Regal sedans.
We’re featuring the 10 most overstocked cars in the accompanying slideshow along with current cash rebates, cut-rate financing promotions, and lease deals. We’re further including the manufacturer’s suggested retail price (MSRP) as well the Invoice Price for each vehicle (this is usually a few percent higher than the dealer’s actual cost) as provided by NADAguides.com. Prices noted are for base models, which often have nominal markups; you’ll generally have more room to wheel and deal on the costlier models in a given line.