With September comes back to school, tailgating and fall road trips. Along with falling leaves, car shoppers typically see falling prices on current model-year vehicles as new models start to arrive at dealerships. The vehicle inventory shortage remains stubbornly persistent, however, and deals remain sparse. Due to the ongoing global microchip shortage, car shoppers are encountering higher prices for both new and used vehicles, and common negotiating tactics are unlikely to move the needle.
According to J.D. Power’s August report, the average new-vehicle incentive last month hit a record low of 4.3%, which is down over five percentage points from the prior year. 2021 models are still very much in demand, even as 2022 vehicles start to roll in. Meanwhile, average used-car prices are at record highs, up 17% over last year, and narrowing the gap with new vehicles in some cases.
Despite the challenges, the goal of finding the right vehicle at a fair price is attainable. The key is taking the time to prepare, researching many different makes and models, and remaining flexible. Choosing a lesser-known model and arriving at the dealership ready to buy is also advised in the current environment. To further help shoppers save on a new vehicle, we found thousands of dollars in deals on 2021 SUVs and trucks for September. Read below to find out where you can best save your money.