June tends to be a busy month packed with celebrations: Graduations, the start of summer break and Father’s Day all call for numerous family get-togethers. A capable SUV or pickup truck can accommodate summer demands, whether it’s a Costco run before the big cookout or a cross-country road trip. Unfortunately, the ongoing supply chain disruptions are dragging the inventory shortage into the coming months, leading to fewer incentives for these popular vehicles.
J.D. Power’s latest sales forecast estimates that the average incentive on pickup trucks and SUVs in May was $991, down from $1,702 from the same time a year prior. The average incentive as a percent of MSRP for all vehicles is estimated at 2.1%, dropping 4.4 percentage points from the same time in 2021. Meanwhile, average vehicle transaction price remains elevated: The average price for May is estimated at $44,832, just shy of the $45,247 record set in December.
While the latest numbers may not be a cause for celebration, there are still good deals to be had. We found a trio of SUVs and a pickup truck that defy the trends this month with thousands of dollars in cash savings or special financing rates for qualified shoppers.
Another reason to feel jubilant despite the challenges is the continuous rise in trade-in values. Shoppers who have a trade-in can take advantage of elevated used-car values: According to J.D. Power, the average trade-in value for May was approximately $9,922, up 59% from a year ago. Getting the best trade-in offer and taking advantage of the cash or financing deals on the four vehicles below can help shoppers get into a new vehicle just in time for summer.