Best New Car Incentives and Lease Deals for October 2024 (2024)

Last Updated: Sep 25, 2024

Best New Car Incentives and Lease Deals for October 2024 (1)Those looking to buy or lease a new car this October are in store for MUCH BETTER deals compared to last year! Inventories on new vehicles have risen back to normal levels, incentives have been increasing across the board with larger rebates, better finance deals and much better lease deals... READ MORE ⌄

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Current Offers October 2024

ManufacturerHighlights for October 2024
Best Acura Deals October 2024
Best Alfa Romeo Deals October 2024 Average cash back rebates of $1,500.
Best Audi Deals October 2024 Average cash back rebates of $5,000.
Best BMW Deals October 2024
Best Buick Deals October 2024
Best Cadillac Deals October 2024 Average cash back rebates of $2,700.
Best Chevrolet Deals October 2024 Excellent lease deals on Silverado 1500. Average cash back rebates of $1,600. 0% APR up to 36 months available.
Best Chrysler Deals October 2024 Average cash back rebates of $4,500.
Best Dodge Deals October 2024 Average cash back rebates of $4,400.
Best Fiat Deals October 2024 Average cash back rebates of $1,000.
Best Ford Deals October 2024 Excellent lease deals on Bronco. Average cash back rebates of $3,700. 0% APR up to 72 months available.
Best Genesis Deals October 2024 Average cash back rebates of $7,500.
Best GM Deals October 2024 Excellent lease deals on Silverado 1500. Average cash back rebates of $2,000. 0% APR up to 36 months available.
Best GMC Deals October 2024 Excellent lease deals on Sierra 1500. Average cash back rebates of $1,500.
Best Honda Deals October 2024 Excellent lease deals on Ridgeline.
Best Hyundai Deals October 2024 Excellent lease deals on Sonata. Average cash back rebates of $3,800. 0% APR up to 72 months available.
Best Infiniti Deals October 2024 Average cash back rebates of $1,800.
Best Jaguar Deals October 2024
Best Jeep Deals October 2024 Excellent lease deals on Compass. Average cash back rebates of $7,500. 0% APR up to 36 months available.
Best Kia Deals October 2024 Average cash back rebates of $4,000. 0% APR up to 72 months available.
Best Land Rover Deals October 2024
Best Lexus Deals October 2024 Excellent lease deals on NX. Average cash back rebates of $7,500. 0% APR up to 72 months available.
Best Lincoln Deals October 2024 Average cash back rebates of $2,000. 0% APR up to 72 months available.
Best Maserati Deals October 2024 Average cash back rebates of $5,000.
Best Mazda Deals October 2024 Average cash back rebates of $1,400. 0% APR up to 36 months available.
Best Mercedes Deals October 2024
Best Mini Deals October 2024 Excellent lease deals on Countryman.
Best Mitsubishi Deals October 2024 Average cash back rebates of $3,300. 0% APR up to 48 months available.
Best Nissan Deals October 2024 Excellent lease deals on Frontier. Average cash back rebates of $1,800. 0% APR up to 60 months available.
Best Porsche Deals October 2024
Best Ram Deals October 2024 Average cash back rebates of $6,000.
Best Subaru Deals October 2024 0% APR up to 72 months available.
Best Tesla Deals October 2024 Excellent lease deals on Model 3.
Best Toyota Deals October 2024 Excellent lease deals on Tacoma. Average cash back rebates of $2,000. 0% APR up to 72 months available.
Best Volkswagen Deals October 2024 0% APR up to 60 months available.
Best Volvo Deals October 2024 Excellent lease deals on S60. Average cash back rebates of $3,400.

October 2024 Incentives Updates & Changes

Used car prices have come down as well, but I do expect a shortage of late-model used cars (2 to 3 years old) entering the market for the next year or so. This is due to the drop in leasing 2-3 years ago due to the supply shortages. Now we're starting to see the after-effects of that.

If you're looking to buy or lease a new car, I would try to time it towards the end of the month as dealers should be more likely to negotiate on price, or wait till end of next month when we may see some Thanksgiving Holiday promotions.

It had become normal over the past couple of years for new car shoppers to be paying MSRP and even higher for vehicles. Besides a handful of very popular models, we're thankfully no longer seeing this, with some models offering upwards of 15% off MSRP now. Remember, getting a great deal foremost depends on the model, which is why you should really consider more than one vehicle when shopping for a deal. By getting bids from multiple dealers, you increase your chance of finding a "desperate" dealer that is willing to negotiate.

Adding uncertainty to all of this is ongoing world conflict and high interest rates. Interest rates have made monthly payments much higher, which makes affordability of news cars much harder, especially luxury cars. On top of this, lenders are becoming more strict with who they loan money to. Rejection rates for auto loans are at all-time highs, especially car shoppers with credit scores below 690 - it's a great time to be a cash buyer!

Although the Fed has started the process of lowering rates, interest rates are still anywhere from 6 - 10% on new cars even if you have good credit, but many manufacturers are offering low interest loans - even 0% financing on some vehicles in October. We've actually seen an uptick in finance deals being offered, which seems to be one of the major ways manufacturers are offering incentives right now. Many have also introduced loyalty and conquest bonuses, so if you do have a lease return coming up, this could put an extra $1,000 to $2,000 in your pocket.

My advice right now: start compiling price bids, many models are offering great deals this month, but if you have the luxury of waiting, the deals should get even better as we move into the fall (when leftover 2024 models will have to be sold off, and hopefully interest rates start moving down). We should continue to see increases in manufacturer incentives this fall as dealers and manufacturers are forced to compete again.

(Note: incentives can vary greatly by region; these figures may not be accurate in your local area. Always verify with your local dealers)

Best New Car Incentives and Lease Deals for October 2024 (2024)

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