You’ve seen the ads — a pretty woman unwraps a small gift box under the Christmas tree, revealing the key fob for a new car. She screams in delight, hugs her significant other and runs outside to soak up her brand new car that’s wrapped in a bright, red bow.
Many of us would love to receive the ultimate gift this holiday season, but such a present is usually out of reach for the giver. However, what may be attainable is a late-model used car that costs thousands less than a new ride and is still under warranty. ‘Tis the season of savings, and to that end, we’ll explore the current holiday used car sales and how you can take advantage of them.
Holiday Used Car Sales 101
By early November, many manufacturers already put year-end deals for both new and certified pre-owned (CPO) models in place. You’ve probably seen the ads on websites and television, and you may have heard a jingle or two on the radio.
These sales will end a few days after the new year, when the books for the current calendar year are closed and the sales numbers are tallied with it. It’s in that race for greater new car sales where a beautiful spillover effect for used car deals takes place. As new car sales rise, customer trade ins always rise with them. That means dealers are eager to clear clogged lots and may be in a bargaining mood.
The Current Used Car Offers
Happily, shoppers don’t need to look hard for holiday used car incentives, as nearly every mainstream and luxury manufacturer is offering deals. Some of these deals are national, while others are regional or local.
Almost across the board, mainstream brands such as Subaru, Chevrolet, Hyundai, Mini, Nissan, GMC, Ford, Mazda, Buick and Volkswagen will keep their offers in place through Jan. 4, 2016. Kia currently has no expiration date on its deals for CPO Sorento and Optima models. Brands such as Toyota choose to run regional deals.
Luxury brands are also using Jan. 4, 2016, as the cut-off date for their current incentives. Cadillac, BMW, Jaguar, Land Rover, Mercedes-Benz and Lincoln are among the high-end brands with published offers. Audi is offering bonus cash and low-interest financing on many CPO models. If you’re looking for deals from Porsche, Infiniti, Volvo and Acura, visit each brand’s website.
What the Mainstream Brands Offer
What might you find if you were to shop for a used car right now from one of the mainstream brands? Plenty, including 1.9 percent financing on select Chevrolet Cruze, Impala, Malibu, Sonic and Traverse. General Motors is offering the same deal on qualifying Buick Enclave and Regal models, as well as the GMC Acadia.
Ford has 2.9 percent financing for 66 months on its entire stock of CPO models. Nissan’s deals range from zero percent financing on the Leaf, to 2.69 percent financing for up to 72 months on most other certified pre-owned cars, trucks and SUVs.
Hyundai’s deals include zero percent financing for 36 months or 1.9 percent financing for up to 60 months on the 2011-2015 Hyundai Accent, Elantra, Sonata and Genesis. Mazda is offering 1.49 percent financing for 36 months on select models and Mini’s deal includes 0.9 percent financing and a one month payment credit on 2012 and 2013 models. You’ll also find 0.99 percent financing on all 2010-2015 CPO Subaru models and 1.99 percent financing for 60 months on all CPO Volkswagen models.
Make it a Luxury Model
Used car deals on luxury models are especially aggressive, as these dealers receive a significant number of trade ins. Luxury brands also see a greater number of vehicles return to the dealership after their leases come to an end.
You’ll find $500 cash back and 1.9 percent financing on 2012-2013 Audi models, and 0.9 percent financing on CPO BMWs from the same model years. Similarly, 0.9 percent financing is available on all CPO Cadillac models.
Jaguar and Land Rover are offering special financing ranging from 0.9 to 2.9 percent on numerous certified pre-owned vehicles. There’s also 1.9 percent financing on all certified pre-owned Lincoln models.
Seasonal Happiness, Year Round Satisfaction
So, if providing the key to a new or used car is your thing this holiday season, you can make it happen. You can also search for what you want directly from CARFAX Used Car Listings. We only feature cars that come with a CARFAX Vehicle History Report, which gives you an extra measure of assurance this holiday season and beyond.