End of Model Year Car Deals [2023 Edition]

Model Year End Car Deals

The fall season means it’s time for model-end clearance deals. Unfortunately, we may not see the greatest deals this year because of the inventory shortages we saw in 2023.

And yes, car manufacturers do start selling the new models before the new year starts (so you can actually buy a 2024 car in 2023).

Deals really start heating up at year-end, but be careful not to wait too long as 2023 inventory starts to get sold off and specific cars will be harder to find.

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2023 Model Year End Clearance Deals

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

#1 Deal: 2023 Audi A3

Financing Offer: 2.99% APR for 48 months
Lease Deal: $469/month for 36 months, $4,299 due at signing

>> Check Audi A3 Prices


 

#2 Deal: 2023 Hyundai Elantra

Financing Offer: 3.75% APR for 60 months
Lease Deal: $219/month for 36 months, $3,499 due at signing

>> Check Hyundai Elantra Prices


 

#3 Deal: 2023 Kia Forte

Financing Offer: 2.9% APR for 48 months
Lease Deal: $229/month for 36 months with $2,799 due at signing

>> Check Kia Forte Prices


 

#4 Deal: 2023 Nissan Armada

Lease Deal: $739/month for 36 months, $5,249 due at signing

>> Check Nissan Armada Prices


 

#5 Deal: 2023 Subaru Ascent

Financing Offer: 2.9% APR for 48 months
Lease Deal: $359/month for 36 months, $3,259 due at signing

>> Check Subaru Ascent Prices


 

Do Car Manufacturers Have Deals When New Models Come Out?

Deals for New ModelsYes, 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 2028, a 2024 model car would be valued as a 4 year old car while a 2023 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.

How Much Do Car Prices Drop When New Models Come Out?

2023 has been an outlier of a year for car model availability and pricing. We’re seeing extremely high markups for popular models, and there are plenty of backorders that still need to be fulfilled. Because of that, there most likely will not be a major price drop for outgoing 2023 models.

Even if there is a price drop for 2023 models, it won’t be significant or immediate. We might have to wait a few months into 2023 to see price tag reductions. Also, only the less desirable trims or color choices will be marked down.

However, a general trend is a small price decrease for models that have minor changes in the new model year, and higher price drops if there is a redesign or a significant change between the model years.

When Do New Models Come Out

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 2023 releases have been postponed.

When Do New 2024 Car Models Come Out?

2024 models start to come out as early as the summer of 2023 and continue to be released into the first couple months of 2023. However, a majority are released during the last few months of the current year. Here is a breakdown of when to expect new 2024 models for each manufacturer:

2024 Model Release Schedule by Manufacturer

MakeWhen 2024 Models Come Out
AcuraNovember 2023
AudiOctober 2023
BMWSeptember 2023
BuickNovember 2023
GMCNovember 2023
CadillacNovember 2023
ChevroletOctober 2023
ChryslerNovember 2023
DodgeNovember 2023
FordNovember 2023
HondaSeptember 2023
HyundaiSeptember 2023
InfinitiOctober 2023
JaguarNovember 2023
JeepNovember 2023
KiaSeptember 2023
Land RoverOctober 2023
LexusSeptember 2023
LincolnNovember 2023
MazdaNovember 2023
Mercedes-BenzNovember 2023
NissanOctober 2023
PorscheNovember 2023
SubaruOctober 2023
ToyotaSeptember 2023
VolkswagenNovember 2023
VolvoSeptember 2023

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.

YearMakeModelCash Incentives (up to)Best Avail. APRLease OffersExpiration
2023AcuraTLX1.90%$499/month for 24 months, $6,299 due at signing4/30/24
2024AcuraMDX1.90%$589/month for 24 months, $5,999 due at signing4/30/24
View All Acura Incentives
2024AudiA4$2,0004.99%$529/month for 36 months, $4,879 due at signing4/1/24
2024AudiQ3$399/month for 36 months, $4,869 due at signing4/1/24
View All Audi Incentives
2024BMW3-Series$589/month for 36 months, $4,639 due at signing4/1/24
2024BMW5-Series2.99%$699/month for 36 months, $6,559 due at signing4/1/24
2024BMWX32.99%$629/month for 36 months, $4,829 due at signing4/1/24
View All BMW Incentives
2023BuickEnclave$1,750$339/month for 24 months, $4,317 due at signing4/1/24
2023BuickEncore GX$1,250$189/month for 24 months, $3,987 due at signing4/1/24
View All Buick Incentives
2023GMCAcadia$2,000$269/month for 24 months, $3,939 due at signing4/1/24
2023GMCCanyon$489/month for 36 months, $3,439 due at signing4/1/24
View All GMC Incentives
2024CadillacXT6$1,2502.90%$559/month for 24 months, $4,839 due at signing4/30/24
2024CadillacXT4$7502.90%$439/month for 36 months, $3,799 due at signing4/30/24
View All Cadillac Incentives
2024ChevroletBlazer$309/month for 24 months, $2,919 due at signing4/30/24
2023ChevroletEquinox$269/month for 36 months, $1,789 due at signing4/30/24
2024ChevroletSilverado 1500$2,7504/30/24
View All Chevrolet Incentives
2023ChryslerPacifica$2,0004/1/24
View All Chrysler Incentives
2023DodgeCharger$2,9206.90%$429/month for 42 months, $5,649 due at signing4/1/24
View All Dodge Incentives
2024FordEdge0.90%$387/month for 48 months, $4,383 due at signing4/2/24
2024FordExplorer4.90%$470/month for 48 months, $4,316 due at signing4/2/24
2023FordRanger
View All Ford Incentives
2024HondaCR-V2.90%$299/month for 36 months, $3,399 due at signing4/30/24
2024HondaOdyssey$459/month for 36 months, $5,499 due at signing4/30/24
2024HondaRidgeline$399/month for 36 months, $3,799 due at signing4/30/24
View All Honda Incentives



YearMakeModelCash Incentives (up to)Best Avail. APRLease OffersExpiration
2024HyundaiElantra$1,0004.49%$199/month for 36 months, $3,499 due at signing4/1/24
2024HyundaiKona$1,0004.29%$232/month for 36 months, $4,012 due at signing4/1/24
2023HyundaiSonata$3,2503.29%$269/month for 36 months, $3,499 due at signing4/1/24
View All Hyundai Incentives
2024InfinitiQ503.90%$489/month for 36 months, $6,070 due at signing4/1/24
View All Infiniti Incentives
2024JaguarF-Pace 2.90%$849/month for 36 months, $6,995 due at signing4/1/24
View All Jaguar Incentives
2024JeepGrand Cherokee$3,5007.90%4/1/24
View All Jeep Incentives
2024KiaSorento4.75%$329/month for 36 months, $3,499 due at signing4/30/24
2024KiaSoul4.75%$229/month for 36 months, $3,499 due at signing4/30/24
View All Kia Incentives
2024Land RoverDiscovery Sport$899/month for 36 months, $5,995 due at signing4/1/24
View All Land Rover Incentives
2024Lexus ES4.99%$569/month for 36 months, $3,999 due at signing4/1/24
2024LexusRX 3503.49%$528/month for 36 months, $4,999 due at signing4/1/24
View All Lexus Incentives
View All Lincoln Incentives
2024MazdaCX-52.90%$269/month for 33 months, $5,219 due at signing4/1/24
2023MazdaCX-9
View All Mazda Incentives
2023MitsubishiOutlander0.00%$456/month for 48 months, $3,455 due at signing4/1/24
2024MitsubishiEclipse Cross0.00%$409/month for 36 months, $3,408 due at signing4/1/24
View All Mitsubishi Incentives
2023MercedesCLA$519/month for 36 months, $4,413 due at signing4/1/24
2023MercedesGLS$1,139/month for 36 months, $7,733 due at signing4/1/24
View All Mercedes-Benz Incentives
2024NissanArmada5.90%$719/month for 36 months, $5,699 due at signing4/1/24
2023NissanLeaf4.90%$269/month for 36 months, $2,629 due at signing4/1/24
View All Nissan Incentives
View All Porsche Incentives
2023RAMRam Pickup 1500$4,0004.90%4/1/24
View All RAM Incentives
2024SubaruAscent2.90%$419/month for 36 months, $3,319 due at signing4/1/24
2024SubaruOutback1.90%$305/month for 36 months, $3,055 due at signing4/1/24
View All Subaru Incentives
2024ToyotaCamry4.75%$299/month for 36 months, $4,999 due at signing4/1/24
2024ToyotaCorolla Hybrid6.75%$279/month for 36 months, $4,999 due at signing4/1/24
2024ToyotaRAV43.99%$329/month for 36 months, $4,999 due at signing4/1/24
View All Toyota Incentives
2024VolkswagenAtlas Cross Sport1.90%$389/month for 36 months, $4,999 due at signing4/30/24
2024VolkswagenJetta1.90%$279/month for 36 months, $2,999 due at signing4/30/24
View All Volkswagen Incentives
2024VolvoXC904.99%$659/month for 36 months, $6,655 due at signing4/1/24
View All Volvo Incentives

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.