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).

2020 Model Year End Deals

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

#1 Deal: 2020 Kia Sedona

Cash Back Offer: Up to $4,000
Financing Offer: 0.0% APR for 66 months
Lease Deal: $329/month for 36 months, $2,999 due at signing

Check Kia Sedona Prices

#2 Deal: 2020 Hyundai Tucson

Cash Back Offer: Up to $2,500
Financing Offer: 0.0% APR for 72 months plus $500 in bonus cash
Lease Deal: $149/month for 36 months, $4,406 due at signing

Check Hyundai Tucson Prices

#3 Deal: 2020 Lexus LX

Cash Back Offer: Up to $6,000
Financing Offer: 0.0% APR for 60 months
Lease Deal: $659/month for 36 months, $6,999 due at signing

Check Lexus LX Prices

#4 Deal: 2020 Kia Sportage

Cash Back Offer: Up to $3,000
Financing Offer: 0.0% APR for 66 months plus $1,000 in bonus cash
Lease Deal: $169/month for 24 months, $3,460 due at signing

Check Kia Sportage Prices

#5 Deal: 2020 Lexus NX Hybrid

Cash Back Offer: Up to $2,500
Financing Offer: 0.0% APR for 60 months
Lease Deal: $379/month for 36 months, $2,999 due at signing

Check Lexus NX Hybrid Prices

#6 Deal: 2020 Toyota Prius

Cash Back Offer: Up to $1,750
Financing Offer: 0.0% APR for 60 months
Lease Deal: $319/month for 36 months, $2,999 due at signing

Check Toyota Prius Prices

#7 Deal: 2020 BMW X2

Financing Offer: 0.9% APR for 60 months plus $2,500 in bonus cash
Lease Deal: $389/month for 36 months, $3,999 due at signing

Check BMW X2 Prices

#8 Deal: 2020 Honda Pilot

Financing Offer: 0.9% APR for 24-60 months
Lease Deal: $329/month for 36 months, $3,299 due at signing

Check Honda Pilot Prices

#9 Deal: 2020 BMW 3 Series  

Financing Offer: 0.0% APR for 60 months plus $3,500 in bonus cash
Lease Deal: $419/month for 36 months, $3,999 due at signing

Check BMW 3 Series Prices

#10 Deal: 2020 Volkswagen Atlas

Financing Offer: 0.0% APR for 72 months
Lease Deal: $299/month for 39 months, $3,499 due at signing

Check VW Atlas 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.