What’s the Best New-Car Deal for July 2022?

july sales sun scaled jpg Cars.com illustration by Paul Dolan

In an alternate universe where the coronavirus pandemic never happened, supply chains function normally and car sales follow a familiar trajectory, July would be right in the thick of peak car-shopping season … but as our survey of June deals showed, in this chaotic universe, automakers have been holding the line on lean incentives for consumers across the country. It’s no different this month: Most brands are keeping a firm grip on extra cash for shoppers.

Related: 10 Best Cars for Road-Tripping on a Budget

A continuing sales slide for the industry overall hasn’t helped despite record transaction prices, according to J.D. Power. The firm reports record profits for both retailers and manufacturers as the average transaction price was projected to reach $45,844 in June, a 14.5% year-over-year increase and new record high, while incentives dropped 59.4% year over year to an average of $930, the second consecutive month the average was below a grand.

That sounds dire if you’re hunting for a new vehicle, but not all hope is lost. If you’re in the market for an SUV or pickup truck, there are some slim savings to be found. The better news? You’re in the right place. Read on for the details.

2022 Chevrolet Equinox

chevrolet equinox rs 2021 01 angle  exterior  front  red jpg 2022 Chevrolet Equinox | Manufacturer image
  • Factory discount: $1,250
  • Approximate price after savings: $26,000-$43,000
  • Approximate factory savings: 3%-5%
  • Offer ends: Aug. 1

Chevrolet shook up the Equinox five-seat compact SUV’s lineup for 2022 by dropping the base L trim and adding a new RS trim, as well as refreshing its exterior. To keep it top of mind for shoppers, the Bow-Tie brand is once again offering modest savings this month, with $1,250 off all trims in the regions we surveyed. Alternatively, qualified shoppers can get 0% financing for 60 months, though there’s no bonus cash atop that. All offers end Aug. 1.

Shop the 2022 Chevrolet Equinox near you

Used
2022 Chevrolet Equinox 1LT
29,228 mi.
$18,800 $100 price drop
Used
2022 Chevrolet Equinox 1LT
43,642 mi.
$20,950 $325 price drop

2022 Chevrolet Traverse

2021 Chevrolet Traverse front OEM jpg 2022 Chevrolet Traverse | Manufacturer image
  • Factory discount: $1,000
  • Approximate price after savings: $34,000-$60,500
  • Approximate factory savings: 2%-3%
  • Offer ends: Aug. 1

Chevy is also offering discounts in the markets we surveyed for its larger Traverse three-row SUV this month. The 2022 Traverse gets some minor tweaks to its exterior as well as additional safety tech for each trim, but it remains largely unchanged. Shoppers can find $1,000 off everything from the base LS to the line-topping High Country; in lieu of cash, those qualified can find 2.49% financing for 60 months. Deals on the family hauler end Aug. 1.

Shop the 2022 Chevrolet Traverse near you

No photo available
Used
2022 Chevrolet Traverse LT Leather
50,307 mi.
$32,400
Used
2022 Chevrolet Traverse Premier
38,835 mi.
$39,228

2022 Jeep Compass

jeep compass 2022 03 badge black exterior grille headlights suv scaled jpg 2022 Jeep Compass | Cars.com photo by Jennifer Geiger
  • Factory discount: $500-$2,000
  • Approximate price after savings: $28,000-$42,500
  • Approximate factory savings: 0%-6%
  • Offer ends: Aug. 1

Jeep’s Compass compact SUV got a considerable update for the 2022 model year with a revamped interior, updated tech and a new Latitude Lux trim, not to mention a Top Safety Pick award from the Insurance Institute for Highway Safety; if you can look past a powertrain that’s been dogging the Compass for years, you’ll find plenty to like. Up to a thousand bucks off won’t hurt, either, with savings on all trims in most regions we surveyed. Alternately, we found financing of 0% for 36 months or 2.9% for 60 months in the markets we checked. As with the Chevrolets, Compass deals end Aug. 1.

Shop the 2022 Jeep Compass near you

Used
2022 Jeep Compass Limited
26,512 mi.
$23,850
Used
2022 Jeep Compass Latitude
29,204 mi.
$21,858

Editor’s Choice: 2022 Ram 1500 Big Horn/Lone Star

ram 1500 limited 2022 exterior oem profile scaled jpg 2022 Ram 1500 Limited Longhorn | Manufacturer image
  • Factory discount: $2,250-$5,000
  • Approximate price after savings: $38,500-$73,500
  • Approximate factory savings: 3%-11%
  • Offer ends: Aug. 1

What’s turned into an inevitable Editor’s Choice practically by default given you can save nearly 12% off a base quad cab with a 6-foot-4 box and rear-wheel drive, the Ram 1500 Big Horn (and equivalent Lone Star if you live in Texas) is a mid-grade trim with better-than-mid savings: Shoppers can find as much as $5,000 off, though most markets we surveyed were more around $2,500 to $3,500 off, with additional bonus cash up to $4,500 off if you finance through Ram parent Stellantis. Alternately, most regions surveyed saw financing of 0% for 48 months, though depending on your configuration, you may be able to get 1.9% off for 60 months. As with the rest of this list, all offers end Aug. 1.

Shop the 2022 Ram 1500 near you

Used
2022 RAM 1500 Big Horn/Lone Star
59,504 mi.
$32,928
Used
2022 RAM 1500 Rebel
48,075 mi.
$44,500

How We Look for Deals

To help car shoppers find the best deals for July, we lead with cash offers available to shoppers at large, not those that require financing with the automaker or having certain qualifications (e.g., military or college-graduate discounts, loyalty or conquest bonuses, etc.). In calculating the overall percentage discount and pricing after incentives, we focus on the vehicle’s price range from the cheapest incentives-eligible trim level with no factory options to the priciest eligible trim with all factory options. We include the destination charge in such pricing, but we exclude a few other items: taxes and fees, which vary considerably by region, and dealer accessories, which vary considerably by automaker.

Because these are factory discounts, they should be available to all participating dealers. As such, use them as the starting point for negotiations, not a reason to skip haggling altogether.

Incentives data come from automakers’ websites. Remember, our numbers are current as of publication for the markets we survey (generally Atlanta, Chicago, Denver, Houston, Los Angeles and New York). They 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; automakers may also change them later in the month. In sum: Your discounts may vary, so check with your local dealer for specifics.

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Cars.com’s Editorial department is your source for automotive news and reviews. In line with Cars.com’s long-standing ethics policy, editors and reviewers don’t accept gifts or free trips from automakers. The Editorial department is independent of Cars.com’s advertising, sales and sponsored content departments.

Photo of Patrick Masterson
Patrick Masterson is Chief Copy Editor at Cars.com. He joined the automotive industry in 2016 as a lifelong car enthusiast and has achieved the rare feat of applying his journalism and media arts degrees as a writer, fact-checker, proofreader and editor his entire professional career. He lives by an in-house version of the AP stylebook and knows where semicolons can go. Email Patrick Masterson

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