Best New Car Finance Deals – Looking for a new car this month? Here’s a roundup of the best new car deals across Ontario this March including events and tips to keep in mind.
This month you can expect to see lower interest rates on 2019 finance and leases, more inventory availability at dealerships, and the start of targeted offers to specific consumers. Usually, Conquest credit and loyalty start to come into play from manufacturers. A loyalty credit is what a manufacturer will give you to keep your business on a new car, if you already drive their brand. A Conquest Credit is a discount if you are driving a competitor’s car! If you’re ready for a new car, submit your Conquest Cars application to get in touch with one of our consultants.
Best New Car Finance Deals
Now that the Autoshow is over, you might find yourself eligible for Autoshow credit on some cars—even if you didn’t go! Most manufacturers still have these credits available on certain vehicle lines that they can apply for on your behalf. Usually the credit is paid by the manufacturer, or a combination of the dealer and manufacturer. Always ask because it may be able to save you an extra couple of $100 on your new car.
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Tip: These Conquest and Loyalty Credits can range from $500-$2000 in some cases, so be sure to ask if you qualify for one!
The Hyundai Tuscon still offers a reliable compact SUV with 5 seats. If all wheel drive isn’t a priority for you, for about $150 every two weeks, you can get a car with a heated steering wheel and standard safety features that will end up saving you the difference in your insurance premium.
Kia has a competitive offer to Hyundai if you are comfortable with a slightly higher on-board payment and don’t mind leasing for 5 years instead of 4. Opting for the extra year will also help lower the monthly payment.
The 2019 Honda Civic offers one of the most competitive lease payments for compact sedans on the market right now due to low weekly payments and $0 down payment. Although the lease term is 5 years, the vehicle is very reliable. The only other compact car that compares in options is the Toyota Corolla which has a similar monthly payment and may end up being cheaper on insurance.
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The RDX is an entry-level 5-seat luxury SUV, however for March, the nearly $6000 down payment makes it notably less competitive compared to other luxury SUVs. In comparison, Lexus, Volvo, Infiniti, Mercedes, and even Cadillac offer a similar segment car for a similar monthly payment and less money down. If you are a fan of this car, you may need to opt for a 5-year term to make the payment more competitive.
Ford will most likely have a rework in the middle of the month in the prices, however for the moment they are offering an All wheel drive credit on the SUVs. This is handy for the Canadian winter.
If we are comparing trucks to trucks, most OEMs are starting to advertise big cash incentives, or longer term low rate financing. Ford is focusing on pricing on remaining 2018 inventory before they begin more aggressive advertising for the 2019 Ford F150. Unless you don’t mind a 2018 that costs more than any of your first choices, you can find the most attractive deals on the new editions of the Dodge Ram, Chevrolet Silverado or GMC Sierra.
Ram has put together a fantastic short-term lease option on the new 2019 new generation trucks. Keep in mind, the feature options on these trucks are very limited unless you’re looking to hit your budget. If you prefer more creature comforts you may be happier spending the extra money and getting more value with a Chevrolet Silverado, however if you need a truck for the sole purpose of towing and have a bed, this is an attractive deal.
Points To Consider For Choosing The Best Car Finance Option
The reliable Dodge Caravan will always have a place on this list because of its $0 down payment option, and its relatively cheap MSRP, however minivans are becoming less and less popular. This means that as more people opt for an SUV, the value of the minivan in the market will continue to decline. On a long term finance, this means that your car can be in a negative position just if you decide to sell before the 96 month contract ends. Keep in mind, 96 months means 8 years. This is a lot of time, and more than repair and maintenance costs will begin to put in before paying off the car. If you have the money for a down payment, or you’re more comfortable with a slightly higher monthly payment, you can get the lowest interest rate with the Chrysler Pacifica or the Kia Sedona (1.99% finance rate up to 84 months)
If you are thinking about a Jeep, despite being pulled over a % of MSRP incentive, think about leasing as an option. Even if there is money down required, Jeeps hold their value very well in the pre-owned market. This means a cheaper rental rate, and a shorter team so you can get into a new car sooner. If you’re ready for a new car, submit your Conquest Cars application to get in touch with one of our consultants.
As mentioned above regarding the Acura RDX lease, you may find yourself more compelled to look at the 2019 Mercedes GLC 300. With one less down payment, and one cheaper monthly payment, this vehicle will provide an exceptional ownership experience. The value is quite good. BMW has yet to put them out of their March offering, however the above leased Mercedes are great luxury contenders if you have the cash to lay down.
The CLA is a fantastic entry-level compact luxury sedan, however we’ve seen more competitive lease payments over a term shorter than 45 months in this luxury brand.
Barrhaven Chrysler Jeep Dodge Ram
The 2019 Corolla CE is about the only other lease option for a compact sedan if you’re looking for a vehicle that delivers extreme bang for the buck.
The Tacoma offers a fun midsize truck lease with 0 down over a 5-year term. This is one of the cheapest options this month if you are considering a truck, but it doesn’t necessarily need the utility of the bed of a full size truck.
The Lexus RX has given credit on the RX 350 AWD, however, if AWD is not a priority for you, you can actually find a more competitive lease offer on a shorter term from the Cadillac and XT5.
The 2019 Nissan Rogue offers good value for a 5-seat SUV. Many safety features come standard, such as the 360-degree bird’s-eye view camera that makes parking and driving the car in the city more enjoyable.
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The 2019 Nissan Armada offers a full-size SUV experience for almost a $700 monthly payment. If you need space for 7 seats, and room for hockey bags, this can be a good option.
For the month of March, Volvo has released payments on almost all rental cars! The 2019 S60 has dropped $20 biweekly which helps make the car more competitive.
Volkswagen focused their marketing for March on eliminating the 2018 vehicles that remained in stock. With 0 down, and 0% financing options available on almost all the remaining cars and SUVs, the offer is quite compelling. The GTI is a fantastic grab right now if you’re looking for a very sporty car that’s still practical and good on insurance.
Get ready to see custom leases coming out on the new generation 2019 Chevrolet Silverado trucks. Notably, dealers will advertise the Chevrolet Silverado Trail Boss, or the 2019 GMC Sierra Elevation Edition. These are both great choices and reliable trucks.
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One of the best value deals comes in Buick’s Encore lease. This month the program is very competitive, especially for existing Chevrolet Cruze leased customers. The down payment is waived with available credits, and you’ll be able to get into a compact luxury SUV for just $120 every two weeks for 48 months – that’s a steal!
The Cadillac XT5 is competitive again this month, as GM continued on with the Costco price incentives. This means that almost 50% of Canadian households will qualify for these car discounts. Most major Cadillac dealers also offer this deal on a shorter option, with a cheaper monthly payment, such as Applewood Chevrolet in Mississauga.
In addition to being cheap on finance and lease rates, the new GMC products look incredibly sharp, with new ‘blackout editions’ that make sure you have your looks on the road, versus more expensive cars, (AKA Range Rovers) . Thanks for reading and sharing this content if you find it valuable. If you’re ready for a new car, submit your Conquest Cars application to get in touch with one of our consultants.
Nicholas has been in the automotive industry for over 5 years working directly with large dealership groups including the Humberview Group, and at dealership level doing business development. He is the editor of
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