End of Model Year Car Deals [Fall 2020 Edition]

The fall season means it’s time for model end clearance deals. In September and October many manufacturers are trying to get rid of their 2020 models to make room for 2021 cars.

And yes, car manufacturers do start selling the new models before the new year starts (so you can actually buy a 2021 car in 2020).

Deals really start heating up at year-end, but be careful not to wait too long as 2020 inventory starts to get sold off and specific cars will be harder to find.

2020 Model Year End Deals

Below are some of the best model year end car clearance deals.

#1 Deal: 2020 Acura ILX

Financing Offer: 0.9% APR for 24-72 months
Lease Deal: $219/month for 36 months, $2,799 due at signing

Check Acura ILX Prices

#2 Deal: 2020 Ford Explorer

Cash Back Offer: Up to $3,750
Financing Offer: 0.0% APR for 60 months plus $2,500 in bonus cash
Lease Deal: $357/month for 36 months, $3,758 due at signing

Check Ford Explorer Prices

#3 Deal: 2020 Honda Accord

Financing Offer: 1.9% APR for 24-60 months
Lease Deal: $290/month for 36 months, $0 due at signing

Check Honda Accord Prices

#4 Deal: 2020 Hyundai Accent

Cash Back Offer: Up to $1,000
Financing Offer: 0.0% APR for 48 months plus $500 in bonus cash
Lease Deal: $179/month for 36 months, $1,999 due at signing

Check Hyundai Accent Prices

#5 Deal: 2020 Infiniti Q60

Financing Offer: 0.0% APR for 72 months
Lease Deal: $449/month for 39 months, $4,599 due at signing

Check Infiniti Q60 Prices

#6 Deal: 2020 Jeep Cherokee

Cash Back Offer: Up to $3,250
Financing Offer: 0.0% APR for 36 months plus $2,250 in bonus cash

Check Jeep Cherokee Prices

#7 Deal: 2020 Mazda6

Cash Back Offer: Up to $1,500
Financing Offer: 0.0% APR for 60 months plus $500 in bonus cash
Lease Deal: $219/month for 36 months, $2,479 due at signing

Check Mazda6 Prices

#8 Deal: 2020 Nissan Altima

Cash Back Offer: Up to $2,750
Financing Offer: 0.0% APR for 72 months plus $1,500 in bonus cash
Lease Deal: $229/month for 36 months, $2,429 due at signing

Check Nissan Altima Prices

#9 Deal: 2020 Subaru Impreza

Financing Offer: 0.0% APR for 63 months
Lease Deal: $185/month for 36 months, $2,085 due at signing

Check Subaru Impreza Prices

#10 Deal: 2020 Toyota Camry

Cash Back Offer: Up to $2,000
Financing Offer: 0.0% APR for 72 months
Lease Deal: $199/month for 30 months, $2,999 due at signing

Check Toyota Camry Prices

Do Car Manufacturers Have Deals When New Models Come Out?

Yes, many car brands start offering deals in late summer and early fall to make way for new models.

Most new car buyers are interested in getting the latest model year which means dealers are pressured to get last year’s model off their lots in a hurry.   To do this they’ll offer cashback and lease deals to entice buyers.  This is especially true if the body style of a particular model will be changing in the upcoming year.   Buyers aren’t as interested in a “new” car that is visibly older than others out there.  In addition, buyers may interpret a changed body style as an improvement and not want a car that may be of lesser quality, whether that’s true or not.  And if the model is being discontinued altogether you can expect even deeper discounts.

While car clearance offers and incentives shouldn’t be hard to find, to double down on your savings you should wait until the end of the month to get the additional benefit of salesmen trying to hit their monthly quota in order to earn their bonus. They may be willing to take a hit on a single sale in order to make a large bonus.

Is There Any Reason Not to Buy an Outgoing Model?

One caveat to keep in mind when buying a car in a model year closeout is that the bluebook value will be depreciated as one model year older.  This may mean a slight difference in the resale value when you go to sell it in a few years.  For example, if you were to buy a car today and sell five years from now in 2025, a 2021 model car would be valued as a 4 year old car while a 2020 model car would be valued as a 5 year old one.

How Much Do Leftover Cars Depreciate When New Models Come Out?

The value of a new vehicle typically drops by 20 percent after the first year of ownership.  And for several years after that you can expect your car to depreciate approximately 10 percent per year.  In a year where the body style changes the value may drop even further.

When Do New Car Models Come Out?

The majority of new model-year vehicles come out in October.  However, some manufacturers release new models thoroughout the year.  In addition, with production slowdowns caused by COVID-19 and the cancellation of major car shows like the North American International Auto Show and the New York International Auto Show, some 2021 releases have been postponed.

Full List of All Current Car Deals

Below is the only free list of all manufacturer deals on the web and includes some of the best model year end car deals.

To truly get a good deal, you’ll want to get prices from several dealerships (Tip: pick a make and model car and click the orange button above to get prices) Several dealers will email you with competitive prices along with their contact information so you can negotiate.

These offers may vary based on location, credit score, and financing terms and are not guaranteed.  So use my free service to Check Discount Car Prices to get the best prices that include current manufacturer offers and incentives.

Frequently Asked Questions

What are the best year end car deals?

Brands like BMW, Honda, Hyundai, and Lexus offer some of the best finance and lease deals on model year end cars. Most offer no or very low interest finance rates or substantial cashback amounts of up to $4,000.

Can I get a good deal on a car at the end of the model year?

Dealerships are motivated to clear out the remaining stock in order to make room for the incoming year’s models. If the current model will be discontinued or completely redesigned, there’s an even better chance of getting a good deal.

When is the best time to buy a car?

The best time to buy a car would be at the end of the month, end of the calendar year, or during a holiday period. Manufacturers tend to put out bigger incentives at the end of a model year in order to make room for the incoming year’s model.