The Fourth of July is a big event in the auto industry. Historically, the Fourth is one of the few occasions in the year when car dealers significantly mark down the prices of their inventory. When you head to your local car dealer in the days leading up to Independence Day, you may notice colorful price stickers showing reduced prices on new and used vehicles.
Many car dealers heavily discount their prices to clear out the remainder of the 2017 models. They do this to make room for the 2018 iterations that will begin to trickle into showrooms all over the country starting in late July and early August.
In addition to dealer discounts, you may be able to get cash rebates from manufacturers. For example, during last year’s Fourth of July sales event, Lexus gave a maximum rebate of $7,500 for some its models. BMW gave $6,500 cash back for the company’s 6 and 7 series of luxury cars. Some car dealers offered a minimum of $2,500 in cash rebates for certain models.
During past Independence Day celebrations, car dealers have offered significant discounts off cars’ MSRP (manufacturer’s suggested retail price). Deals included the Kia Optima Hybrid with 25.40% savings off the car’s MSRP of $28,970 (a savings of $7,359). The Fiat 500L sold for 24.80% off the car’s $22,725 MSRP for a savings of $5,656.
This year’s Independence Day celebration promises to beat the Fourth of July discounts of the previous years. Expect car dealers to outdo each other in offering deep reductions and cash back on the models they want to clear off their lot.
Come to Chariot Auto Sales if you’re in the market for a deal. We offer straightforward pricing and financing for your new or used car.