What Are the Best New-Car Deals for January?
CARS.COM — For car shoppers, January is a tricky month. New-car sales are low, but so are the discounts. In fact, incentives have bottomed out every January since 2013, according to Autodata Corp. But there’s hope in 2017 — most of all in the industry’s current incentives spree, which J.D. Power and Associates pegged at a record $4,000 per car in late December. If the Detroit Auto Show rekindled some new-car fever (or your old jalopy finally bit the dust), don’t fret. Check out these deals.
Ford Escape
How much can I save? Big buckaroos. As Escape sales slipped 7.7 percent in December, the updated 2017 model averaged 55 days on dealer lots — well past December’s 36-day average for all 2017 models — despite being a solid little SUV with average reliability and improved crashworthiness. Now through Jan. 31, Ford offers $500 to $3,500 in customer cash on the 2017 model, according to Automotive News.
What about discount financing? Qualified buyers can get financing as low as zero percent, per Automotive News. These offers run through Feb. 16.
Shouldn’t I wait for the new EcoSport instead? Only if you want something smaller. The EcoSport (pronounced “echo-sport;” don’t ask) is Ford’s entry into the burgeoning class of subcompact SUVs. The Escape, meanwhile, is the automaker’s compact mainstay.
Jeep Patriot
How much can I save? Lots. Through Jan. 31, Jeep offers $2,250 to $3,250 in customer rebates on the 2017 Patriot. Considering that about half the new Patriots on Cars.com are listed at $23,000 or less, that’s a lot of dough for an already affordable SUV. It’s easy to see why: Patriot sales fell 36.5 percent in December 2016 versus a curiously strong year-ago month, but 2017 model-year Patriots still hung on dealer lots an average 62 days.
What about discount financing or older model years? Jeep offers financing as low as zero percent for qualified shoppers, but an older Patriot (and any better deals on it) might be hard to find, as 2017 models account for 86 percent of new Patriot inventory on Cars.com.
But the Patriot is on its way out, no? Like the San Diego Chargers, baby. Jeep said it would replace its two compact SUVs, the Compass and Patriot, with one model — and that model is the redesigned Compass. That leaves the Patriot with no foreseeable future, and probably for good reason: Jeep’s boxy trucklet has soldiered on without a redesign since late 2006, and in that span it hasn’t garnered a very good track record for reliability or, by today’s standards, safety. But if you want a new one, it’s cheap.
Toyota Corolla
How much can I save? A decent amount. Despite its 2017 model-year refresh, Corolla sales slid 7.4 percent in December while the 2017 sedan averaged 37 days on dealer lots. Toyota now offers $1,500 in factory cash on the 2017 Corolla, according to Automotive News. It’s $2,000 on the 2016 Corolla, though any remaining 2016s could be a tough find, as they account for just 6 percent of new Corolla inventory on Cars.com. You’ll also miss out on the host of standard crash-avoidance technology Toyota added for 2017 — items like lane-departure warning with steering assist, which is often the stuff of luxury cars.
What about discount financing? Qualified buyers can score cut-rate financing as low as zero percent on the 2017 Corolla, Automotive News reports. Finance and rebate offers expire Jan. 31.
Are these discounts available on the Corolla iM, too? Yes. Automotive News reports Toyota also offers $1,500 off the 2017 Corolla iM hatchback, a rebadge of the onetime Scion iM. We found the Scion version low on driving thrills but still a lot of car for the money.
What’s that catchy song in those Corolla commercials? It’s a cover of Leslie Gore’s 1963 song, “You Don’t Own Me.” Oh, and we must get that futuristic blue suit at the 34-second mark.
The Returnees
We focus on cars new to the list or ones we haven’t highlighted in the past few months. But many cars from recent months still have high discounts in January:
– Ford Focus
– Jeep Cherokee
– Kia Optima
– Nissan Altima
– Nissan Sentra
– Toyota Prius
– Toyota Camry
How We Look for Deals
To look for January deals, we considered sales in December among the top 100 best-selling cars, specifically eyeing models whose sales fell. We also looked at days-to-turn data, which measures how long it takes on average for dealers to sell a given car. Both factors illustrate January’s slow sellers, cars on which dealers could be more willing to cut a deal.
Finally, we looked at factory cash discounts and low-interest-rate financing offers that are especially high for the price of the car. (After all, $2,000 is a lot more on a Ford Focus than a Ford Explorer.)
Sales and incentives data come from Automotive News and automakers’ websites, while days-to-turn data come from J.D. Power and Associates. Remember, our numbers are national in scope and reflect advertised customer discounts, not unadvertised factory-to-dealer cash. Discount financing typically requires qualifying credit, too, and incentives may vary by region and trim level. In sum: Your discounts may vary, so check with your local dealer for specifics.
