Frugal Shopper: The Most Deeply Discounted New Vehicles

By Bengt Halvorson

Bengt Halvorson

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Bengt Halvorson is Deputy Editor of High Gear Media's portfolio of car sites, overseeing the production of reviews, evaluating vehicles firsthand... More

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9 5,773 views February 16, 2010

2010 Ford Ranger

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2010 Hyundai Sonata

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2010 Jeep Commander

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If you're looking for a sweet deal and not too picky about getting the latest and greatest, you have plenty of options.

Over the past month the 2010 Ford Ranger has sold at 17 percent below MSRP, on average, and is the most deeply discounted new model, while the 2010 Hyundai Sonata and 2010 Jeep Grand Cherokee are both also discounted by about 17 percent. The 2010 Jeep Commander and 2010 Chevrolet Cobalt are also discounted by about 16 percent from MSRP, on average.

Both the Sonata and the Grand Cherokee are slated to be replaced by completely redesigned models for 2011. The 2011 Hyundai Sonata adopts a new four-cylinder-only powertrain that achieves 35 mpg on the highway (and a price starting under $20k), while the 2011 Jeep Grand Cherokee promises to be much more refined on the road without giving up its Rubicon Trail capability. The Chevrolet Cobalt will also be replaced later this year with the 2011 Chevrolet Cruze.

The pricing information is all from TrueCar, which sources actual sales transaction data covering more than 43 percent of all new vehicles sold in the U.S., which as of January includes more than 300,000 vehicles, according to the company. The data is provided by primarily by car dealers and aggregators, and it's used here at TheCarConnection.com in our new-car shopping area.

Among 2009 models left on the lot, the 2009 Nissan Titan and 2009 Chevrolet Cobalt are both selling at well over 20 percent below sticker. But they're officially used cars by now anyway.

As a brand, Hummer wins out—by a landslide. Though 2010 model data wasn't yet available, Hummer's 2009 models were selling at nearly 30 percent, on average, below MSRP in November and were still at about 19 percent in December even with shorter supply.

Current manufacturer rebates and other offers such as "dealer cash" would already be considered, as TrueCar looks at final transaction prices.

By body type, here are TrueCar's most deeply discounted 2010 models:

Ford Ranger (pickup) – 17%
Hyundai Sonata (sedan) – 17%
Jeep Grand Cherokee (SUV) – 17%
Chevrolet Cobalt (Coupe) – 16%
Volvo XC70 (wagon) – 15%
Volvo C70 (convertible) – 14%
Toyota Sienna (van) – 11%

[TrueCar]