The ‘Leftover’ Cars You Can Buy for Less This Year

car-for-less

Labor Day weekend has long been a big week for car sales, but according to Edmunds.com, you may be able to save really big if you look into leftovers — that is, outgoing 2016 models scheduled to be phased out or redesigned for 2017.

Per the car shopping site, dealers will be looking to get rid of these vehicles at steep discounts (think thousands of dollars) as they try to clear out their lots to make room for shiny, new 2017 models. And you don’t need to feel too behind the times for buying a car that’s last year’s news.

“Even though these vehicles are being redesigned or going away altogether, they still have the same great technology and performance that you’d find in most new cars, but at a much better value,” Ron Montoya, senior consumer advice editor for Edmunds.com, said in a press release. “Bargain hunters are strongly encouraged to consider these vehicles.”

Edmunds identified nine vehicles in particular that are going at a good price relative to their MSRP, based off of the Price Promise deals listed on its site. Note: Some of the discounts are regional, so it’s still a good idea to comparison shop for car deals in your area. And it’s best to avoid buying a car outside of your budget just because you can get a good discount.

With that in mind, here are the five most lucrative leftover vehicles.

1. 2016 Mercedes-Benz E-Class Sedan

Edmunds spotted a number of deals for $7,000 to $10,000 off the soon-to-redesigned luxury sedan’s $71,175 MSRP.

2. 2016 Hyundai Genesis Sedan

Up for rebranding as the Genesis G80, this sedan is going for $3,000 to $5,500 less than its $49,800 MSRP in certain areas.

3. 2016 Buick LaCrosse

Edmunds is seeing deals for as much as $6,200 off the $38,982 MSRP on the entry-level full-size sedan getting a redesign in 2017.

4. 2016 Cadillac SRX

The luxury SUV is going for $8,000 off its $56,380 MSRP, once the incentives are factored in. It’s being replaced by the 2017 Cadillac XT5.

5. 2016 Subaru Impreza Sedan

Scheduled for a 2017 redesign, the 2016 Impreza is going for $900 to $1,100 less than its $22,052 MSRP. But, according to Edmunds, San Franciscans can get the real deal — saving as much as $2,300.

Looking to Buy This Labor Day?

Of course, it can pay to do your research and comparison shop before hitting a dealership, no matter what area you’re in or what car you’re looking to buy. It’s a good idea to think about your monthly payments versus price, so you know exactly what the car is going to cost you over the life of the loan — and you don’t overextend yourself.

Also, it can help to check your credit, since a good score will help you qualify for the best financing opportunities and save you on interest. You can do so by pulling your credit reports for free each year at AnnualCreditReport.com and viewing your credit scores for free each month at Credit.com.

Image: Ridofranz

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A Car for Christmas? What You Should Know About End-of-Year Deals

car for Christmas

The last place you probably want to spend the holidays is a car lot: It’s cold, it’s dark and you have other shopping to do. For these reasons, December used to be a slow month for car sales. But in recent years, it’s become an incredibly popular time “to move metal,” says Karl Brauer, a senior analyst at Kelley Blue Book, an automotive research company in Irvine, Ca. For that you can thank Lexus, which launched its “December to Remember” campaign in 1998 featuring cars gift-wrapped in giant red bows.

Of course, there are other reasons December is a popular month for car deals. Car competition is fierce, dealers are trying to clear inventory and they might be pressed to meet end-of-year quotas. “As you get closer to Christmas and the new year, the discounts will increase, so the savings will be better,” says Philip Reed, senior consumer advice editor at Edmunds, an online resource for automotive information. “The problem is, there’s sort of a tradeoff because the inventory will begin to be pretty restricted.”

Despite the limited options, bargain hunters can save on their next car if they’re strategic about it. For example, buying before the end of the year will allow you to claim tax benefits if the car is for business or environmentally friendly (depending on the state) for tax year 2015. Plus, while incentives like 0% financing or rebates may not be unique to the month, they are more widely available, Reed says.

On the other hand, December isn’t the best time to score a car deal. Though a lot of dealers have begun to hold Black Friday sales, the experts say Labor Day weekend is generally a better time to shop because that’s when dealers truly begin to make room for new inventory. Car shoppers may also be pressed for time, which can make it harder to do a thorough test drive and inspect the car, as Reed and Brauer suggest.

If you do decide to go car shopping this month, be smart and come prepared to clock some time at the dealer’s going through paperwork. If you’re trading in a car, have an appraisal on hand, and if you owe money, then bring the loan papers. Also be sure to check your credit scores for free on Credit.com, so you know where you stand in case you need to apply for an auto loan. (You can find advice on how to avoid making a mistake on your next car purchase here.) You want to get the best deal out there, and your finances will play a key part in that.

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Image: iStock

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