With Halloween quickly approaching, shopping for a new vehicle this season can feel eerily like entering a haunted house. Amid the ongoing inventory shortage and rising new-vehicle prices, there’s an uncertainty that comes along with the car-buying process: Is the dealer lot hauntingly empty? Are vehicle price tags frighteningly high? Can discounts and incentives get you out unscathed?
These are all valid concerns, according to J.D. Power. The firm’s latest report finds the average vehicle transaction price in September reached a record high of $42,802 — up nearly 19% from the prior year. Contributing to the spike are reduced manufacturer incentives that are trending in the opposite direction. The average incentive per vehicle in September was $1,755 — down $2,037 from the prior year. As a percentage of vehicle MSRP, the average incentives in September hit a record low of 4% — down over five percentage points from the prior year.
To ease some of the trepidation of buying a new vehicle in the current landscape, we hunted down the best new-car deals for October. The following vehicles offer the highest factory discounts, some of which are more than double the average manufacturer incentives reported above.