The Price War on Trucks Means Huge Discounts for You
You’ve shopped different dealerships, read up on reviews, and done your homework – and you’ve decided you want a truck. But one problem remains: brand-new trucks are expensive. You don’t exactly have the $40,000 (or more) you need to buy even a basic model of a top-rated truck.
Don’t give up on owning a new truck. You can buy the pickup you’ve been waiting for, and you may not have to spend as much as you think.
Just because auto prices are sky high doesn’t mean you need to pull six figures to be able to afford a quality truck. The sticker price you see at your local dealership is simply a starting point – and you can get your next new truck for far less. Here’s why:
A Brand War is Driving Prices Down
Automakers are seeing slow sales across the country, and they need your business. The problem is you might not choose their trucks – you might choose a model made by a competitor. Auto companies want to capture your attention and your sale. And what better way to do so than with low prices?
A price war on pickups has been simmering for years. In 2016, Ford Motor Co. slashed new truck prices by more than $10,000 as it rolled out a new aluminum-bodied F-150.
And last summer, according to Automotive News, General Motors offered 20 percent off on its trucks. Ram immediately joined the battle, giving truck drivers a 20 percent discount on its models – the most generous discount they’ve ever offered.
Now, every automaker has joined the fight. No matter the new truck you’re eyeing, you can get a deal. As U.S. News recently reported, dealerships are offering an average discount of $3,800 on all new trucks.
And these incentives are only increasing. Auto experts at Edmunds are seeing discounts increase by an average of 3 percent every month.
Gas Prices are Playing a Role
Another reason automakers are offering big discounts on brand-new pickups? Drivers have avoided buying trucks because they’re afraid of high gas prices. Over the last decade, gas prices hit new highs. No one wanted a gas-guzzling truck – so truck sales declined. Car lots ended up flooded with pickup trucks because dealerships simply could not sell them.
Yet gas prices have been steadily dropping over the last year. According to AAA, the average price of gas per gallon is $1 less than it was just three years ago. Most states are continuing to see monthly discounts of 10 cents per gallon right now.
But most Americans are still reeling from the high prices of the recent past. This means truck sales are still not where they need to be, pushing dealerships to move pickups and make sales. With little demand and many models to sell, dealerships are resorting to discounts, deals, and incentives.
So, thanks to a combination of changing gas prices and an ongoing pickup truck price war, the average price of a new truck has hit a staggeringly low price across the US. And if you do your shopping right, you can score big on these trucks yourself.
Which Trucks Are Being Discounted?
While new truck incentives and deals are widespread, they change constantly. Prices change depending on the time of year and your location, so you must always do your homework. But some of the top deals include the 2017 GMC Canyon SL 2WD. This base model truck runs $20,940 and, with a discount of 20%, can be had for even less.
Another dealer offering some of the deepest price cuts is Chevy. Chevy has discounts of over $10,000 on a few models, including versions of the 2018 Silverado. The biggest deals are on last year’s 2017 models: the Silverado 2500 HD LTZ is discounted by over $10,000 and a $5,000 total cash allowance.
And don’t forget about Ford – Ford has been known to offer up to $10,000 discounts on the F-150. Although these incredible deals are seasonal, many buyers claim to see them for months at a time, making this a very affordable model in 2018.
An era of low truck prices is here. You need to do your research and walk onto a dealership lot confident that you can get a deal.
If you’re interested in current truck offers, start a search today.