Hi All:
As I posted recently, > $5k off new Altima’s and Optima’s is just the tip of the iceberg when it comes to new car purchase savings the past few weeks.
TRUECAR has stated the same as August new car prices are on average $1,850 lower than in December, which is often perceived to be the optimal time to purchase a vehicle.
Consumers looking to save on a new car or truck should do their shopping in August as new car and truck prices during the past five years in August have averaged $29,296 – $169 lower than any other month.
Conventional wisdom used to be that December was prime time for new car and truck buyers. However, TrueCar data reveals that prices in December average $31,146 – the most expensive month for new cars and $1,850 higher than August.
The average new vehicle transaction price in August is $169 less than any other month. The next lowest average is July. The average August savings are $716 less than the median price for the rest of the year.
Similarly, ALG expects Used car prices to drop 5.2 percent over the next 2-years.
According to ALG, the analytics division of TrueCar, ALG says a wave of newer vehicles has started to flood the secondhand market and will gradually bring resale values in line with what they were before 2008’s economic downturn.
Due to historically poor sales years from 2008-2012, used-vehicle supplies have been limited. However, ALG estimates that June 2014 marked the lowest number of used vehicles available for sale (which also translated to the highest prices) and that the trend is shifting.
By 2017, ALG forecasts the average new vehicle will retain 49.4 percent of its value after three years, in contrast to the 54.6-percent retention recorded for vehicles through June 2014. Furthermore, ALG forecasts the growing supply of used vehicles in the market should ease the industry back to a 46-percent residual average by 2019 – the same as it was before 2008.
Wayne
As I posted recently, > $5k off new Altima’s and Optima’s is just the tip of the iceberg when it comes to new car purchase savings the past few weeks.
2014 Nissan Altima
TRUECAR has stated the same as August new car prices are on average $1,850 lower than in December, which is often perceived to be the optimal time to purchase a vehicle.
Consumers looking to save on a new car or truck should do their shopping in August as new car and truck prices during the past five years in August have averaged $29,296 – $169 lower than any other month.
Conventional wisdom used to be that December was prime time for new car and truck buyers. However, TrueCar data reveals that prices in December average $31,146 – the most expensive month for new cars and $1,850 higher than August.
The average new vehicle transaction price in August is $169 less than any other month. The next lowest average is July. The average August savings are $716 less than the median price for the rest of the year.
Similarly, ALG expects Used car prices to drop 5.2 percent over the next 2-years.
According to ALG, the analytics division of TrueCar, ALG says a wave of newer vehicles has started to flood the secondhand market and will gradually bring resale values in line with what they were before 2008’s economic downturn.
Due to historically poor sales years from 2008-2012, used-vehicle supplies have been limited. However, ALG estimates that June 2014 marked the lowest number of used vehicles available for sale (which also translated to the highest prices) and that the trend is shifting.
By 2017, ALG forecasts the average new vehicle will retain 49.4 percent of its value after three years, in contrast to the 54.6-percent retention recorded for vehicles through June 2014. Furthermore, ALG forecasts the growing supply of used vehicles in the market should ease the industry back to a 46-percent residual average by 2019 – the same as it was before 2008.
Wayne
When is the Best time to buy a New Car? Now
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