Recently, the sale prices of SUVs have been dropping dramatically. This trend is largely the result of major automakers saturating the market with SUV inventory, which raises the supply and ultimately causes the vehicles to sell for less. In recent years, sales of SUVs have outperformed sedans on a regular basis, a fact which drove the auto manufacturers to invest more heavily in SUV production.
Right now, the trend of SUV price drops is more pronounced than ever. Although it won’t last forever, the current market glut of SUVs is a great opportunity for seniors who have been considering a new vehicle purchase.
Why Are SUVs Beneficial for Seniors?
There are several good reasons for older buyers to look into getting an SUV as opposed to a sedan or compact car. To begin with, an SUV will be easier for you to get in and out of than a car that rides lower to the ground, especially if you experience arthritis or other age-related joint pains. SUVs also tend to give drivers improved visibility, making it easier for an older driver to easily see what’s in front of and behind the vehicle. Finally, the weight and four-wheel drive capabilities associated with SUVs give them improved traction and make them easier to control in all types of weather conditions. If you’re an older driver who worries about driving on wet pavement or snow, buying an SUV is a good way to make sure that you have no difficulties staying on the road.
Another advantage of an SUV if you’re an older buyer is the ample space for both passengers and cargo it will provide you with. Many seniors use their retirement years to take vacations, visit family, and spend time with grandchildren. By buying an SUV, you can ensure that you’ll have plenty of room for your luggage and any younger members of your family who end up riding with you.
How Seniors Can Find SUV Deals
If you’re a senior looking to buy an SUV, there are several ways for you to track down great deals and save money on your purchase. One of the easiest ways is to simply watch for models that manufacturers directly drop the MSRP for. Though it’s extremely unusual for automakers to decrease prices from year to year, the unique conditions that exist in the SUV market at the moment have caused the listed prices on some models to drop. General Motors, for instance, announced at the end of 2018 that it would drop the list prices on six of its SUV models in the 2019 model year.
Though MSRP drops are a good place to start, they may not always provide the best deals on their own. In many cases, manufacturers will add special incentives such as 0 percent APR financing and cashback offers that can help you save even more money. The best way to find these deals is to track them directly through the manufacturers’ websites. Once you know what model of SUV you want to buy, you can visit the manufacturer’s incentives page for that model and see what offers are available. Keep in mind that it may be beneficial to wait a while before buying, as these offers do rotate in most cases. If you want to compare incentives across different models, you can use the Edmunds SUV Incentives and Rebates page or the CarsDirect SUV Deals page to track current offers in your area.
Another way to save money on your upcoming SUV purchase is to look for unsold inventory at your local dealerships. Even though we’re now in the 2019 model year, many dealerships will still have inventory of 2018 and even 2017 models. Although these SUVs are still brand-new, dealers and manufacturers have a strong incentive to mark them down to make room for newer inventory. If you want to get the best deal on an SUV, buying unsold inventory from a previous year may be the best way to do it. Be aware, though, that you’ll only be able to access these savings on vehicles that are actually on the lot. In other words, you may end up having to compromise on colors or optional features in order to get the best deal.
Thanks to the flooding of the market with inventory, there has never been a better time for seniors to get a great deal on an SUV. By taking advantage of MSRP price drops, manufacturer incentives, and unsold inventory price reductions, you can find the best possible pricing on your next SUV purchase. Be sure to do your research and compare prices and incentives across different models, as you may find that a model you had previously overlooked is available at a great price point.