This Might Be The Best Time To Buy A New Car Thanks To 2020 'Leftovers'
If you want to catch a deal on a model-year leftover, shopping in February would usually find you late to the game, as most of those cars would be gone before the holidays. But a new study from iSeeCars reveals that some very popular cars still have 2020 models on the lot, which likely means serious deals.
The coronavirus pandemic threw some chaos into the car market. At first, no one was buying cars, then it seemed that everyone was buying cars. Factory shutdowns and supply-chain issues had dealers clamoring for inventory and many buyers struggling to find a deal. While import crossovers and pickups sold quickly, some cars built up inventory. Now there are opportunities for big savings.
iSeeCars looked at the data on which cars have the most 2020 models available using the following methodology:
"iSeeCars.com analyzed over 700,000 new cars listed for sale as of January 29, 2021. The share of each model from the 2020 model year was used to rank them. Heavy-duty trucks, lower-volume models, and cars that did not have a large amount of 2021 inventory available were excluded from further analysis."
The top 10 are mostly dominated by domestic brands, with the Hyundai Santa Fe being the exception. The Ford Escape takes the top spot with 90 percent of its 2020 inventory remaining. The Escape often gets lost in the crowd among competition such as the CR-V, RAV4, Rogue and Forester. Ford updated the model for 2020 and made it a bit "friendlier."
According to Autotrader, there are over 25,500 new 2020 Escapes available, many of them with discounts upwards of $10,000 off the MSRP.
I would imagine many of these super-low advertised prices are rebate stacked with discounts that most buyers don't qualify for, but it seems possible to get a brand new Escape for under $20,000.
While most buyers would assume this list of 2020 cars would mean greater savings compared with a 2021 model, it's recommended that shoppers compare prices between both model years. Sometimes the newer car might be the better deal — especially when it comes to leasing.