Finding Value: Tips for Purchasing a New 2024 SUV

The Market for New 2024 SUVs

The average transaction price of new vehicles has climbed above $45,000 in recent years, influenced heavily by the growing popularity of SUVs and crossovers. Luxury models can exceed $70,000, while entry-level models typically start around $30,000. Despite these trends, securing a new 2024 SUV for less is achievable through strategic shopping and research.

Tips for Finding Cheap New 2024 SUVs

1. Compare Models Across Brands

Different manufacturers offer varying price points even for similarly equipped vehicles. For instance, a fully loaded Kia Sportage may cost significantly less than a similarly equipped Toyota RAV4. Use online resources like Edmunds, Kelley Blue Book, and Consumer Reports to compare models across brands.

2. Understand Rebates and Incentives

Manufacturers often provide rebates or special incentives on new models to boost sales, particularly at launch or when clearing inventory at the end of a model year. Check the manufacturer’s website or contact local dealerships to inquire about available rebates and incentives for new 2024 SUVs.

3. Negotiate the Price

The MSRP (Manufacturer’s Suggested Retail Price) is only a starting point for negotiations. Research the invoice price (what the dealer pays the manufacturer) and use it to negotiate a fair price. Some dealers may offer discounts on vehicles to meet monthly or quarterly sales targets, so timing your purchase near these deadlines can be advantageous.

4. Leverage Trade-In Value

If you have a vehicle to trade in, be sure to understand its value beforehand by using resources like Kelley Blue Book or Edmunds. A higher trade-in value can significantly reduce the final cost of your new SUV.

5. Consider Lower Trim Levels

Opting for a lower trim level with essential features can reduce the overall cost of the vehicle. Many entry-level trims still include important safety and technology features but come with a lower price tag.

6. Shop Around Different Dealerships

Prices can vary significantly between dealerships even for the same make and model. Contact several dealerships in your area and ask for quotes to find the best possible deal.

7. Monitor Sales Events

Major sales events, such as Black Friday, Labor Day, and the end-of-year clearance, often bring substantial discounts on new SUVs. Dealerships also run promotions to boost year-end sales numbers, providing an excellent opportunity to negotiate a better deal.

8. Check Inventory Levels

If a dealership has excess inventory of a specific model, they may be more inclined to offer discounts to clear space. Conversely, limited availability might increase prices due to higher demand.

9. Explore Certified Pre-Owned (CPO) Programs

Certified pre-owned vehicles undergo a rigorous inspection and often come with warranties comparable to new vehicles. Some 2023 models from certified programs can offer better value than a brand-new 2024 model.

10. Consider Internet Sales Departments

Internet sales departments often offer pre-negotiated deals or special discounts for online customers. Contact these departments directly to request quotes and negotiate before visiting in person.

Conclusion

Finding a new 2024 SUV at an affordable price requires strategic planning, thorough research, and patience. By following the strategies outlined above, you can enjoy the versatility and comfort of a new SUV while sticking to your budget. Remember that each purchase is unique, and a well-researched approach will help you secure the best deal possible.