This Week in Car Buying: Deals of the month; Cadillac puts $5,000 on Escalade; Car ownership not Ghosn away; 2018 Mitsubishi Outlander priced
While it may be too early for some manufacturers to start their Black Friday/Holiday Sales Event programs, a few makes are starting out November with programs designed to keep the ball rolling in clearing out their 2017 models and discounting 2018 models. Others have already taken out the tinsel and holly and are full-on into their year-end sales push. There’s several lease deals under $200 per month and a slew of cash back offers primed for the taking.
“Black Friday isn’t the only day in November to get a good deal,” said Jason Allan, managing editor of Kelley Blue Book. “Whether you’re into low lease payments, big cash-back offers or 0-percent financing, we’re here to help you kick off the holidays with a little something for yourself. Topping this month’s list of standout deals is the Acura ILX, a sporty little sedan from the top luxury brand in our 2017 5-Year Cost to Own Awards.”
That 2017 Acura compact sedan is being offered on a 3-year lease with $2,499 down for just $199 per month. For $10 per month less, you can also lease a 2017 Honda Accord for 3 years with just $1,999 down as the Japanese automaker clears the decks for it all-new 2018 Accord. Also in the sub-$200-per-month lease club is the 2017 Toyota RAV4, which is available for $199 per month for 3 years with $1,999 cash up front. Over on Toyota’s luxury side of the house, the 2017 Lexus IS sedan has a $299 per month deal for 3 years with $2,999 cash in advance.
There are several big cash offers on sedans, the largest coming from Ford on the 2017 Taurus, which carries a rebate of $6,750. The 2017 Hyundai Sonata features a $3,350 refund, while Nissan is putting $3,000 cash back on the 2017 Altima. Crossover SUVs also have their share of deals, the biggest rebate coming from Fiat Chrysler Automobiles on the 2017 Jeep Cherokee, which has a $5,500 rebate. The 2017 Nissan Rogue has a combination deal of $2,000 cash back plus 0-percent financing, while the 2017 Kia Sorento is available with a slightly less generous offer of a $1,000 rebate and 0-percent financing.
Cadillac puts $5,000 on Escalade
Viewed as a pre-emptive strike against the all-new 2018 Lincoln Navigator, which is now rolling into dealerships, Cadillac announced $5,000 cash for buyers who trade in a 1999 or newer Navigator. The rebate can be applied towards the purchase or lease of a 2018 Cadillac Escalade.
The money can also be combined with other offers from the automakers. According to J.D. Power, discounts on Cadillac’s full-size SUV, which starts at $75,290, has been averaging just over $4,000 and have been as high as almost $6,200 as recently as August.
The Navigator, which starts at about $2,000 less than the Escalade, features an all new design, the first major makeover in over a decade. Ford’s luxury division has taken the price up considerably from the previous model’s starting price of about $53,000 and has packed the vehicle with a host of new standard features as well as a luxurious interior that is completely different than the one used on the redesigned 2018 Ford Expedition.
The big price increase coupled with a slow ramp-up in volume means that Lincoln will not be discounting its new model, instead it will be looking to hold margins on these vehicles. By being able to make more lower-priced Expeditions, the luxury division will not be under any pressure to increase production or offer incentives on the all-new Navigator.
Car ownership not Ghosn away
The latest hot take on the future of self-driving cars is that once they are accepted by the public, sharing of these autonomous pods will virtually eliminate private car ownership. But not so fast says the head of a large automaker that is at the forefront of this technology. Renault/Nissan/Mitsubishi chairman Carlos Ghosn, who has promised that his company will introduce autonomous technology as soon as 2020 told Bloomberg that the concept of car ownership is not going to go away anytime soon, if ever. Instead, he believes that the technology will enable greater mobility to those who may not have access to transportation because of their age or physical condition.
“A lot of people think this is substitution. It’s not—it’s addition,” Ghosn said during Bloomberg’s The Year Ahead conference in New York. “The traditional business of building cars and selling cars and owning cars is going to continue.”
His assertion flies in the face of many of those in the ride-sharing business who believe that autonomous vehicles will result in fewer cars on the road with higher use rates owned by companies delivering transportation services. Ghosn believes that these trends will stabilize developed markets where shared vehicles will be primarily used in cities, while sales will continue to grow in markets like India and China where private ownership still has room to grow.
2018 Mitsubishi Outlander priced
In addition to now being certified as a 50-state emission vehicle, the 2018 Mitsubishi Outlander has been upgraded with new features, with prices starting at $23,795. The Outlander now boasts a new 7-inch touchscreen display and Bluetooth wireless in the base ES trim.
New features have been added to SEL models, which now include standard blind spot warning, rear cross traffic alert, lane change assist and a power remote liftgate. The SE Premium trim includes LED headlights and fog lamps, multi-view camera and a heated steering wheel. The GT trim also gets the heated steering wheel and multi-view camera. An optional Touring Package includes forward collision mitigation, lane departure warning, adaptive cruise control and automatic high beams. The 2018 Mitsubishi Outlander is on sale now.
VW has refreshed its Golf lineup of vehicles adding more power to its range topping 2018 Volkswagen GTI. We get behind the wheel in this First Review.
BMW is getting a jump on the Los Angeles Auto Show by showing its 2018 BMW M3 CS, a higher performance version of its sports sedan. The car debuts in L.A. at the end of the month.
In the market for a new car? Explore these useful tips on how to get the best deal: