Now’s The Time To Purchase From A Luxury SUV Brand. Here’s Why.
In years past if you wanted to own a luxury SUV from the likes of Lexus, BMW, and Cadillac, you had to pay big for the opportunity to drive one of those brands. It wasn't uncommon to spend well over $50,000 to get your hands on a new luxury SUV brand.
It's amazing how much times have changed. In an attempt to gain additional market share and in an attempt to offload slow-selling luxury SUVs, manufacturers have started offering deep discounts on traditional models while also dipping their toes into the affordable luxury SUV market.
Why Is Now The Perfect Time To Buy An Affordable Luxury SUV?
Prices have been falling for several years thanks to the emergence of high-tech luxury options on lower-end vehicles. It's not uncommon to purchase an entry-level vehicle in 2020 with features that include infotainment centers, leather heated seats, backup cameras, self-parking options, and a whole suite of other features that won't break the bank.
Suddenly, the luxuries once afforded to a higher-end market can be added onto a purchase for several thousand dollars. Some features once sought after in the luxury market even come standard on today's vehicles.
New Lines To Drive More Sales
Luxury automakers are currently experiencing a lull in sales and they're focused on new product lines to drive additional sales. New luxury vehicles with lower price points are allowing these brands to capture an audience segment that never before favored their vehicles.
Unfortunately for manufacturers, the New York Times has reported that an increase in new models hasn't led to the type of sales automakers needed, leaving them with a surplus of vehicles they need to markdown in order to sell.
Auto News took the bad news for automakers (and great news for buyers) one step further, noting that 2020 sales, due to market uncertainty, have been "completely wiped out."
Discounts Are Heavy
Scoring a luxury crossover SUV for under $50,000 is no small task but that's exactly what you can get with the BMW X4 Crossover. The company is currently offering rebates, cashback and military discounts that push the cost below 50K MSRP. Throw in some decent haggling skill with a dealer and the cost of a new BMW SUV can easily fall below $45,000.
In our area, we found discounts of more than $2,500 on top of the line SUVs and similar rebates on lower-end luxury models.
Throw in dealer incentives and you're one step closer to owning a luxury SUV. These type of offers are not only reserved for BMW, we witnessed similar offers for Cadillac, Lexus, Mercedes, and others.
Prepare Before You Head To The Dealership
We no longer live in the wild west of car sales. There's absolutely no reason you should walk into a car dealership without fully understanding what a vehicle costs based on the features you are interested in buying.
We recommend looking at various websites to gather information about features offers along with reviews based on those features. Is the infotainment center your eyeing any good? Are the leather vented seats up to par? A quick online search will even help you figure out what other people in your area are paying for their new vehicles and which dealership offers the best deal.Remember you want to visit websites that are not owned by the manufacturer to ensure you are receiving unbiased reviews for the exact make and model you want to purchase.
Finally, be on the lookout for sales. Different car companies typically have offers based on the time of year or even a specific month. If you can wait for an end of month sale, you can typically score the best deals on the last day of the sale and specifically if that sale ends at the end of the month. Luxury SUV dealers have quotas to hit if the dealerships want to score extra money from auto manufacturers and they will bend over backward to secure their last needed deals before the calendar flips.
Ultimately, buying an affordable luxury SUV doesn't have to break the bank if you do your research and head to the dealership of your choice with a clear plan of action.
References: Edmunds, New York Times, Auto News
