CHICAGO — Overall incentive spending in May turned out to be the second highest of the year at approximately $2,680 per vehicle. And according to Cars.com, significant vehicle incentives and lease deals are expected to continue at a high rate throughout June and most of the summer.
“Manufacturers are still seeing relatively high inventory levels and are anxious to move metal,” said Jesse Toprak, chief analyst for Cars.com. “Consumers will get the most value on any large-vehicle category this summer. The most significant inventory surplus is in the large-truck category, and, as a result, we are seeing generous incentives from manufacturers and dealer discounting for vehicles such as the Silverado and F-Series. The popular mid-size sedan segment, which has become extremely competitive, is also full of models with relatively high incentives.”
Toprak explains that consumers are in the middle of a perfect storm for attractive leases, created by high resale values and historically low interest rates. “Consumers can get a lot of car for their money if they take advantage of some of the best lease deals in recent history,” said Toprak.
The following is a list of high-value incentives available so far in June:
Finance Incentives:
Model | Deal | Expiration Date |
2014 Mazda MAZDA3 | 0.9% APR for 36 months | 6/30/14 |
2014 Lexus ES 350 | 0.9% APR for 36 months | 6/30/14 |
2014 Buick Verano 1ST | 0% APR for 60 months | 6/30/14 |
2014 Cadillac CTS Coupe | 0.9% APR for 36 months | 6/30/14 |
2014 Toyota Sienna | 0% APR for 60 months | 7/7/14 |
Cash Incentives:
Model | Deal | Expiration Date |
2014 Chrysler 200 LX | $3,000 cash allowance | 7/7/14 |
2014 Chevrolet Silverado 1500 Double Cab All Star Edition 4WD | $8,100 cash allowance | 6/30/14 |
2014 Ram 1500 | $2,750 cash allowance | 7/7/14 |
2014 Ford Focus S | $1,500 retail customer cash | 7/7/14 |
2014 Kia Optima | $1,500 cash back | 6/30/14 |
Lease Incentives:
Model | Deal | Expiration |
2014 Honda Civic | $159/month for 36 months with $1,999 down, 12,000 miles/year | 7/7/14 |
2014 BMW 228i Coupe | $319/month for 36 months, $3,794 down, 10,000 miles/year | 6/30/14 |
2014 Ford Escape SE FWD | $199/month for 24 months, $2,829 down, 10,500 miles/year | 7/7/14 |
2014 Nissan Altima 2.5 S | $189/month for 36 months, $1,999 down, 12,000 miles/year | 6/30/14 |
2014 Jeep Cherokee Sport FWD | $199/month for 36 months, $3,699 down, 10,000 miles/year | 6/30/14 |
2014 Volkswagen Tiguan | $199/month for 36 months with $2,999 down, 12,000 miles/year | 6/30/14 |
*Cash allowance may indicate customer cash, cash back, or other manufacturer terminology; Deals may vary by region
