What's the Best New-Car Deal for July 2023?

With the Fourth of July weekend out of the way and summer on in earnest, shoppers in the market for a new car may be looking for some hot deals on hot rides to go along with the hot weather. Slowly but surely, they may have better luck finding some, too: As vehicle inventory rises, incentives trickling down to shoppers are gradually beginning to show themselves again.

Related: Here Are the 10 Cheapest New Cars You Can Buy Right Now

But first, those cars have to start getting sold at their sticker price again. In J.D. Power’s latest sales forecast, the firm detailed that new-car inventory in June was projected to be about 17% higher than it was in May, which meant only 30% of new vehicles were expected to be sold above MSRP — down from the all-time high of 49% in July 2022. The more cars sit on lots, the more likely a dealer will be willing to compromise on some savings for you.

At the moment, however, getting the best deal means visiting your local Stellantis dealer — everything below can be found coming off assembly lines owned by the Dutch-based automaker. Read on for the details regarding a soon-to-be-discontinued sedan, a couple of SUVs and a popular pickup truck.

2023 Dodge Charger

• Factory discount: $2,000-$3,000
• Approximate price after savings: $32,000-$55,000
• Approximate factory savings: 4%-9%
• Offer ends: July 31

As Dodge pivots to electrification on a corporate level, dealers are aiming to clear out the last remnants of the gas-fueled Charger before it’s discontinued for the 2024 model year. As it’s been in recent months, the Charger once again makes our list of best deals by way of $2,000 off in most regions we surveyed and as much as $3,000 in some areas. Shoppers looking to forgo the cash offer can get 6.9% financing for 72 months on all trim levels up to the RT, with 7.61% for 60 months available on trim levels from the Scat Pack on up. All offers expire July 31.

2023 Jeep Grand Cherokee

• Factory discount: $1,000-$4,500
• Approximate price after savings: $39,000-$76,500
• Approximate factory savings: 1%-9%
• Offer ends: July 31

Another regular to our list of best deals for the duration of this year is Jeep’s Grand Cherokee two-row SUV, which offers eight trims and a wide range of deals depending on your region and trim level. We saw savings as high as $4,500 off the mid-tier Limited trim and greater savings by percentage on lower trims, but even the Summit and Summit Reserve can still net you a grand off in the regions we surveyed. Those looking for a deal on financing can get 2.9% for 36 or 72 months or 5.9% for 72 months on lower trims, and 7.61% for 60 months with an additional $1,000 off on the Overland, Summit and Summit Reserve in the regions we surveyed. All such offers also end July 31.

2023 Ram 1500 Big Horn/Lone Star

• Factory discount: $2,000-$7,452
• Approximate price after savings: $40,000-$67,000
• Approximate factory savings: 4%-10%
• Offer ends: July 31

Despite the popularity of the body style and Ram’s superior work with its interiors for the full-size 1500 pickup, deals still remain on the volume Big Horn trim (also known as the Lone Star in Texas). Though it’s another mainstay of our deals stories, the Big Horn/Lone Star is offering both $2,000 off with another $1,000 tacked on if you finance through Ram parent Stellantis, but it’s also offering a significant 10% off in most regions we surveyed, which can amount to savings of more than $7,000 depending on the configuration. In lieu of the cash, financing can be had at 2.9% for 72 months. All such offers are good through the end of the month.

Editor’s Choice: 2023 Jeep Compass

• Factory discount: $1,500-$3,399
• Approximate price after savings: $27,000-$43,500
• Approximate factory savings: 3%-10%
• Offer ends: July 31

In a preview of what was to come for the rest of July, Jeep offered both $1,500 off as a baseline and 10% off all trims but the base Sport over the Independence Day weekend. That 10% off has now been extended to the Sport, so you can find savings on every trim either by percentage or by straight cash (we recommend taking the percentage, as it’s greater in all cases than the $1,500 cash offer also available). Financing of 1.9% for 36 months or 4.9% for 60 months in lieu of the cash-back deal is available for most trims in the regions we surveyed, and like the rest of our list, all such deals run through July 31.

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.

More From Cars.com:

• Here Are the 10 Cheapest New SUVs You Can Buy Right Now
• Here Are the 10 Cheapest Pickup Trucks You Can Buy Right Now
• Inventory Shortage Update: Should You Wait to Buy a Car?
• Should I Buy a New or Used Car?
• What Car Should I Buy?

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