DENVER (KDVR) — This Thanksgiving, many of you are revving up plans for some Black Friday shopping. For some Coloradans, that includes looking for a new or used vehicle.
It turns out Black Friday is traditionally a really popular time for shoppers to go out and make a vehicle purchase.
This year though, they’re going to be dealing with a lot of sticker shot.
That’s because there’s a terrible inventory shortage of both new and used vehicles.
So much so, Cars.com tells the Problem Solvers when it comes to the sales gap between new and used cars, the median price difference is roughly 5% right now.
Last year at this time, that gap was more than 20%.
According to analysts, if you’re going car shopping on Black Friday, you should be aware inventory issues very well could sow down your ability to get a vehicle in your hands quickly.
Experts say it’s important to realize, it could take you several months before you actually get your new ride.
“You might not find your dream car in the color you’re looking for or maybe there are some features you’re interested in, but are not critical. You need to be able to let those things go in order to get that car into your hands,” said Jenni Newman, Editor & Chief of Cars.com.
A new survey from Cars.com found 50% of respondents are willing to wait up to two months to get a new car; 14% said they won’t wait at all.
“I think another thing shoppers should consider is they might need to look a lot farther out from their area to find a vehicle. That could mean in the past if you looked within ten miles, twenty miles of your home – now you should be expanding your radius when you’re looking for a vehicle and looking as far as 100-200 miles,” Newman suggested.
According to researchers at iSeeCars, the current fastest selling new vehicle in Denver is the Ford Maverick. The data shows they usually sell within eight days.
On the used vehicle side, Coloradans fancy Nissan Pathfinders, which typically take 18 days to sell.
Here are the best Black Friday vehicle deals, according to Cars.com:
- Factory discount: $0 to $1,000
- Approximate price after savings: $20,500 to $31,500
- Approximate factory savings: 0% to 5%
- Offer ends: Jan. 3, 2022
In half the regions we surveyed, Ford is offering $1,000 off the 2021 EcoSport, a model year that still accounted for 96% of new EcoSport inventory at Cars.com dealers as of this writing. Such discounts are less than what we’ve seen off Ford’s subcompact SUV in previous years, but the EcoSport’s affordable price — from the low $20,000s to the low $30,000s, including destination — makes this deal equivalent to around 3%-5% off. Alternatively, creditworthy shoppers can score 0% financing for 60 months, a deal we observed in all regions. Both the cash and financing deals run through Jan. 3, 2022, so if you’re stuck in a food coma over the turkey-day weekend, you’ll still have a few weeks left to take advantage.
- Factory discount: $1,250
- Approximate price after savings: $33,000 to $49,500
- Approximate factory savings: 2% to 4%
- Offer ends: Jan. 3, 2022
Ahead of a 2022 model arriving this winter with updated styling and Honda’s new TrailSport trim, the 2021 Passport features a factory-to-consumer cash discount, a rare move from Honda. The automaker’s mid-size SUV sports $1,250 off all trims in all regions we surveyed, bumping the net price down to anywhere from the low $30,000s to around $50,000; that’s good for about 2%-4% off the Passport. In lieu of that, credit-qualified consumers can get discount financing at rates from 0% (36 months) to 2.9% (72 months). Both deals end Jan. 3, 2022.
- Factory discount: $1,250 to $4,000
- Approximate price after savings: $24,000 to $35,500
- Approximate factory savings: 4% to 14%
- Offer ends: Nov. 30
A regular denizen of our monthly deals coverage, the Renegade again has substantial discounts through the end of November. Typical of Jeep, deals vary widely by region, trim level and, in some cases, driveline. We found discounts of $1,250 to $4,000 depending on those factors, amounting to some 4%-14% off the subcompact SUV. That’s a steal of a deal in the current environment. In almost all cases, Jeep is offering another $500 off for those who finance at standard rates through parent company Stellantis (an amount excluded from the bullets above, as not all shoppers qualify). In lieu of all that, creditworthy shoppers can score a range of discount financing packages — 0% for 48 months in most cases, with 0.9% for 60 months or 1.9% for 72 months in select instances — plus $500 to $2,750 in bonus cash, depending on the region and vehicle specifics. All such deals expire Nov. 30.
Editor’s Choice: Buick Enclave
- Factory discount: $3,750
- Approximate price after savings: $37,500 to $60,000
- Approximate factory savings: 6% to 9%
- Offer ends: Nov. 30
The Enclave, a roomy three-row SUV with premium aspirations, has discounts ahead of a slough of model-year 2022 updates. Now through Nov. 30, Buick is offering $3,750 off the SUV in all regions we surveyed; that’s anywhere from 6%-9% off, depending what you get. Shoppers in some areas can get another $500 for financing at standard rates through parent company GM plus another $500 if they own an existing vehicle that qualifies for a loyalty bonus. (Again, those amounts are excluded from the bullets above, as not all shoppers qualify.) In lieu of such discounts, creditworthy shoppers can get 0% financing for 72 months plus the loyalty bonus in certain regions. All such deals expire Nov. 30.