This Week in Car Buying: Hot deals; Prices rise on Jeeps and Rams; Cadillac cuts ELR sticker; Mazda MX-5 Miata starts U.S. production
If April brings the promise of a tax refund which may be leveraged into a fresh car acquisition, then here’s some top lease and finance deals to consider. The top offers of the month include a compact SUV, stylish mid-size sedans and even a duo of EVs.
The top deal of the month determined by Kelley Blue book is the two thousand fifteen Buick Encore, a compact crossover SUV with a zero-down $199 per-month 2-year lease, followed closely behind by the two thousand fifteen Chevrolet Spark EV, which also goes for zero down and $139 per month over three years. The top cash back suggest is on the Fiat 500L which gets a generous $Four,500 followed by the two thousand fifteen Nissan Leaf with a $Trio,400 plus 0-percent financing for sixty months. Hyundai’s two thousand fifteen Sonata Hybrid has $Four,000 cash back, a further reflection on the soft market for EVs and hybrids at a time when gas prices are down more than $1 per gallon over a year earlier.
While crossovers are a hot commodity, sedans sales could be stronger and manufacturers are stepping up their offers on mid- and full-size family 4-doors. Among the top lease deals are Buick’s $259 per month suggest on the Regal for thirty nine months with just $259 down, while the Chevrolet Malibu, which will be substituted early next year by an all-new version, can be had for $211 per month for thirty nine months and $500 down. Chrysler’s redesigned two thousand fifteen 200 comes with a $Two,000 rebate and 0-percent financing for sixty months while the full-size two thousand fifteen Ford Taurus has a $Four,500 rebate. Meantime, VW is looking to give its compact crossover Tiguan a jumpstart by suggesting a $179 per-month 3-year lease with $Two,499 down.
Jeep and Ram prices rise
The big moneymakers at Fiat Chrysler Automobiles remain trucks and SUVs, a trend that is likely to proceed as the company raises prices on its utterly popular Ram and Jeep brands. According to trade journal Automotive News, FCA is enhancing wholesale prices to dealers one percent on some models, which amounts to about $250. Other dealers reported that the increases on some hot-selling Ram pickups could go up by as much as three percent — or more than $1,000 on some models. Jeeps have seen an increase of $100 on Grand Cherokees.
While FCA hasn’t commented on the switches in wholesale prices, the retail stickers remain the same, putting extra pressure on dealers. Trucks have been a bright spot in the FCA portfolio with its market share enhancing from 11.Five to 12.9 percent.
Cadillac ELR repositioned
As Chevrolet readies an all-new Volt for launch later this summer, Cadillac will be repositioning its 2-door coupe version that employs the same hybrid technology by cutting the price by $Ten,000 while taking advantage of the technological improvements to its bow-tie sibling. The sticker price on the two thousand sixteen Cadillac ELR is expected to drop to $65,995, down from the current $75.995. The plug-in hybrid ELR is also eligible for a $7,500 federal tax credit.
On the spectacle front, upgrades to the vehicle’s control system will boost power and torque by more than twenty five percent. Cadillac estimates that the car’s 0-60 mph acceleration will improve to 6.Four seconds, pruning 1.Five seconds off previous spectacle. The Cadillac ELR has been a slow seller, with only 1,310 retailed last year.
Mazda MX-5 Miata production starts for U.S.
The two thousand sixteen Mazda MX-5 Miata models destined for the U.S. are now rolling off the assembly line and will be in U.S. dealerships in time for summer top down motoring. While ordering for the 1,000-model Launch Edition commences May five and features a $30,195 MSRP excluding $820 delivery, the standard MX-5 will embark at $24,915 base price plus delivery. Among the fresh features of the entry level Miata are a 6-speed manual transmission, cruise control, LED head- and taillights, Bluetooth connectivity, leather-wrapped shift knob, power door locks and a USB port. An automatic transmission will be a $1,075 option. Step-up models include the MX-5 Club, which will begin at $28,600 plus delivery and the MX-5 Grand Touring at $30,065.
Financing a fresh car has gotten a bit more expensive as bankrate.com reports that most auto loan rates have enhanced for the 2nd week running. Interest charged on average 36- and 48-month fresh car loans enlargened ten basis points or 0.Ten percent to Four.29 and Four.32 percent respectively. The average 60-month contract enlargened nine basis points to Four.37 percent.
The picture on used car rates was mixed. Typical 36-month used car rates rose by six basis points to Five.17 percent, while the average 48-month loan fell two basis points to Five.34 percent.