KBB.com sees a buyer's market for new compacts and crossover SUVs
According to the latest data compiled by Kelley Blue Book's Automotive Insights group, current market conditions are creating excellent opportunities for anyone pondering the purchase of a new compact car or crossover SUV. In the case of compact cars, KBB's transaction data indicates that the difference between the average monthly payment on a new 2013 - about $335 on a 5-year loan agreement - compared to a one-year old 2012 alternative can be a little as $30. Consumers looking to trim that monthly outlay by $100 would need to consider a 2009-vintage compact, a vehicle which would likely have 50,000 miles or more on its odometer and be out of the original factory warranty period.
In general, a similar situation exists for those looking to purchase a compact crossover SUV. In this arena, the new-2013 versus used-2012 payment spread averages about $35 per month. However, the KBB stats also found larger variations exist between specific vehicles in this hot-selling segment. While buyers considering a new 2013 Chevrolet Equinox or Toyota RAV4 can find the price gap as little as $20, those looking to buy a 2013 Ford Escape are likely to be faced with up to a $60 premium compared to the 2012 model.
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