Auto Incentives and Rebates in November 2023

Best Auto Incentives and Rebates in November 2023

Greetings! Welcome to our weekly Auto Incentives and Rebates update, where we strive to provide you with the most current and exciting news. Our mission is to assist you in discovering exceptional deals and savings for your desired vehicle.

To ensure accuracy, please note that the availability and terms of these offers may vary based on your location and the specific model you have in mind. We encourage you to contact your local dealership for comprehensive details.

You can access the PDF document by clicking here.

• What do We Mean by Incentives and Rebates?
• Cash Rebates
• Dealer Cash Incentives
• Finance Rate (APR)
• Incentives and Rebates
• Low-Interest Financing
• Marketing Support
• Special Leases

What do We Mean by Incentives and Rebates?

Incentives and rebates are programs designed to encourage the purchase of new vehicles, targeting both consumers and dealers. These programs primarily encompass four common types: Cash Rebates, Low Interest Financing, Special Leases, and Marketing Support.

Cash Rebates, Low Interest Financing, and Special Leases are directly available to consumers, though eligibility criteria can vary, meaning not all consumers may qualify for these benefits.

Marketing Support, on the other hand, is extended to dealerships, and its benefits may or may not be passed on to consumers. Various forms of Marketing Support programs exist, with Dealer Cash being the most prevalent.

It’s essential to note that incentive programs are subject to change by manufacturers at any time. Edmunds continuously updates these changes, but there may be a brief delay between the manufacturer’s announcement and our publication of the update.
While low-interest financing and cash-back incentives may not be as widespread as before for new cars, trucks, and SUVs, diligent shoppers can still secure a new vehicle at a competitive price. Below, we’ve highlighted some of the best car deals for October.

Cash Rebates

These rebates are offered directly by manufacturers to customers at the time of vehicle purchase, effectively reducing the final purchase price. Customers often have the option to receive this rebate as cash or apply it toward the vehicle’s down payment.

Dealer Cash Incentives

Manufacturers provide these incentives to dealerships to bolster sales or alleviate inventory pressure on specific vehicles. The structure of dealer cash incentives can vary, but it commonly involves a cash credit to the dealer upon the sale of a participating vehicle. In some cases, dealers may earn cash bonuses for achieving sales volume targets.
There are also programs where dealers earn the incentive upon purchasing vehicles from the manufacturer. Regardless of the specifics, Edmunds.com True Market Value Prices consider these cash incentives in their calculations.

Finance Rate (APR)

This refers to the cost of credit for a vehicle purchase, expressed as an annual percentage rate (APR).

Incentives and Rebates

An umbrella term in the auto industry encompassing all strategies employed by manufacturers to stimulate vehicle sales and leases by reducing the net cost to consumers without altering the vehicles’ Manufacturer’s Suggested Retail Prices (MSRPs). This includes customer rebates, dealer cash incentives, and special leases.

Low-Interest Financing

This is a loan offered by the manufacturer’s captive finance company at an interest rate lower than the market rate. Eligibility is typically determined based on the customer’s creditworthiness.

Marketing Support

An automotive industry term for programs that manufacturers provide to boost sales or aid dealers in the advertising and marketing of their vehicles. The most common program of this kind is Dealer Cash Incentives.

Special Leases

Also known as ‘subsidized leases’ or ‘subvented leases,’ these are a type of incentive and rebate involving vehicle leases offered by manufacturers. In these leases, the monthly payment amount is reduced below what independent leasing companies offer (with the manufacturer absorbing the cost). This reduction is typically achieved through a higher residual value a lower interest rate, or a combination of both.