2024 SUV Deals: Why Smart Buyers Are Choosing Leftover Cars
As automakers roll out their 2024 models, savvy car shoppers are discovering significant savings opportunities by looking at the previous model year's inventory. These "leftover" SUVs—brand new vehicles from the preceding model year that remain unsold on dealer lots—often represent some of the best values in the automotive market. While many buyers rush to get the latest releases, those willing to purchase these slightly older but still new SUVs can enjoy substantial discounts, better financing terms, and immediate availability without sacrificing quality or features.
Why Are These New SUVs So Cheap?
The automotive industry operates on a consistent annual cycle, with manufacturers introducing new models each year. When these newer versions arrive at dealerships, the previous model year vehicles still on the lot become less desirable to many shoppers who want the latest designs. This creates a compelling situation for dealerships who need to make room for incoming inventory. To move these “leftover” vehicles, dealers offer significant price reductions, sometimes slashing thousands off the MSRP.
Additionally, manufacturers often provide dealers with special incentives specifically for clearing out older inventory. These can include factory-to-dealer cash allowances that enable steeper discounts, promotional financing rates, or special lease terms. The combination of dealer motivation and manufacturer support creates the perfect environment for substantial savings on essentially new vehicles.
Who Can Benefit From These Deals?
Budget-conscious buyers looking for maximum value stand to gain the most from leftover SUV deals. If you’re willing to forego having the absolute latest model year on your registration, the savings can be substantial—often 10-20% below the original MSRP, depending on the specific vehicle and how long it’s been sitting on the lot.
First-time SUV buyers also benefit tremendously. The reduced entry price makes previously unaffordable models accessible, allowing buyers to potentially step up to a higher trim level or larger model than they originally budgeted for. Business owners can take advantage as well, as these vehicles still qualify as new for tax purposes while costing significantly less.
Long-term owners who plan to keep their vehicle for many years represent another ideal group for leftover models. Since the steepest depreciation occurs in the first few years regardless of model year, the initial savings become even more valuable when amortized over extended ownership.
What You Should Know Before Buying
When considering a leftover SUV, it’s important to understand that while these are technically new vehicles with full warranties, they may differ slightly from the current model year. Research any significant changes between model years—sometimes manufacturers introduce major redesigns, new safety features, or improved technology that might be worth the premium for the newer version.
Pay close attention to warranty details. While the full manufacturer’s warranty still applies, it typically begins from the date the vehicle was first put into service. For leftover models that have been on the lot for months, this means you might effectively have slightly less warranty coverage compared to buying the current year’s model.
Resale value considerations should also factor into your decision. Vehicles are typically valued based on their model year rather than their purchase date, meaning a 2023 model purchased in 2024 will depreciate faster than a 2024 model bought at the same time. If you plan to trade in or sell within a few years, this accelerated depreciation might offset some of your initial savings.
Key Factors Influencing SUV Discounts
Several variables determine just how deep the discounts might be on leftover SUV models. The popularity and demand for specific models play a crucial role—less desirable SUVs or those with abundant inventory typically see larger price reductions. Conversely, models with limited production or high demand might see minimal discounting regardless of model year.
Timing is another critical factor. Discounts tend to increase as the new model year progresses, with the most substantial savings available when the next model year vehicles begin arriving. Shopping during the transition period between model years—typically late summer through fall—often yields the best opportunities.
The specific trim level and options package can also influence discount levels. Higher-end trims with more options usually see larger dollar-amount discounts, though the percentage savings might be similar across the model range.
Current SUV Deals and Pricing Guide
The market for leftover SUVs offers compelling opportunities across various segments, from compact crossovers to full-size luxury models. Here’s a snapshot of potential savings on popular 2023 models still available in early 2024:
| SUV Model | Original MSRP | Typical Discount | Potential Sale Price |
|---|---|---|---|
| Ford Escape | $28,000 | 15-20% | $22,400-$23,800 |
| Chevrolet Traverse | $34,500 | 12-18% | $28,290-$30,360 |
| Hyundai Tucson | $26,800 | 10-15% | $22,780-$24,120 |
| Jeep Grand Cherokee | $39,000 | 15-22% | $30,420-$33,150 |
| Kia Telluride | $35,400 | 8-12% | $31,152-$32,568 |
| Toyota RAV4 | $27,500 | 8-12% | $24,200-$25,300 |
Prices, rates, or cost estimates mentioned in this article are based on the latest available information but may change over time. Independent research is advised before making financial decisions.
Regional incentives can further enhance these savings, as can manufacturer promotions that change monthly. Many dealers are offering 0% financing on leftover models for qualified buyers, potentially saving thousands more in interest over the loan term compared to current model year vehicles.
The best deals typically appear on models that have received updates for the new model year, creating a more substantial contrast between the leftover and current versions. However, if a model remains largely unchanged between years, the leftover model represents an even better value proposition since the differences are minimal.
The automobile industry’s transition to more advanced technology and electrification also presents unique opportunities. Conventional gasoline-powered leftover SUVs might see deeper discounts in regions pushing aggressively toward electric vehicle adoption, creating additional savings for those not yet ready to make the switch to electric.
With careful research and negotiation, smart buyers can drive away in essentially new SUVs while keeping thousands of dollars in their pockets—proving that sometimes, last year’s model is this year’s best deal.
