Cars that May Drop in Price Soon
The midsize sedan and SUV segments will face the most intense price pressures.
Competition in the midsize sedan segment is largely due to Hyundai's aggressive leasing and pricing on its all-new and well-reviewed Sonata, as well as the fact that many models in the segment are deep into their product cycles.
The midsize SUV and Minivan segments will be other segments where we should see fluid pricing conditions in the coming months.
Thanks to all-new or significantly refreshed models in the midsize SUV class, prices are projected to go down for the segment's longer-in-the-tooth competitors, such as the Nissan Pathfinder.
In the minivan segment, with the recent redesigns of both the Honda Odyssey and Toyota Sienna, it's predicted that price pressure will increase on Chrysler and Dodge brand minivans, which are the segment's volume leaders.
In the early portions of the New Year, price trends for hybrids and electric vehicles will be going in opposite directions.
A continuing small buyer base and unusually stable and low gasoline prices mean there will be downward price pressure for premium-brand hybrids such as Ford's 2011 Lincoln MKZ Hybrid and Toyota's 2011 Lexus HS 250h.
Meanwhile, buyers shouldn't expect anything but firm pricing on the latest high-tech electric vehicles such as the Nissan Leaf and GM's Chevrolet Volt plug-in hybrid.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid