And so with March, the spring buying season starts and with it a big boost in factory incentive spending, all aimed at juicing what so far has been a fairly slow 2014, with February sales up by just 2.4 per cent.
Exhibit A: BMW has increased the factory money by 50 per cent on the 640i xDrive Gran Coupe sedan. What had been a $10,000 factory-to-dealer sweetener is now $15,000. BMW corporately is committed to building so-called “coupes” with four doors – by definition an oxymoron – but it looks as though the marketplace isn’t interested. Thus, the added factory deal.
Exhibit B: Honda has doubled the cash incentive on its Honda Odyssey minivan, to $3,000 this month from $1,500 in February. Let’s face it: an image crisis makes minivans a tough sell, despite their obvious practicality. But if you must have a minivan, Chrysler has them for less than $20,000. The Odyssey is a really super product, but you can’t get one for anything close to $20,000.
Exhibit C: Jeep is a red-hot brand around the world, yet in Canada you’ll find a $2,500 deal on the two-door Wrangler and it can be “stacked” with 3.99 per cent financing for four or five years. Jeep showed off the all-new, Fiat-based Renegade in Geneva earlier this month, but it’s the Wrangler that defines Jeep. Rugged and real in the wilderness and a deal at your local showroom.
Exhibit D: The Sorento SUV is a core model for Kia, but it’s in tough against a long list of very, very good rivals. As it ages, the incentive money rises, naturally – to $4,000 on the table now, though it’s not stackable with 0.0 per cent financing for 48 or 60 months.
More than one senior car company executive in Canada believes that Canada is ripe for a pricing correction, a reduction in sticker prices. That may happen, but generous incentives are the next best thing to a price cut and buyers will find plenty of them right now with spring just days away.
Deals of the Week consulted with unhaggle.com, carcostcanada.com, and other sources on these offers. As usual, pricing information here is subject to change and dealer discounts vary, so consult your dealer for all the details, including expiry dates for all offers.
2014 BMW 640i xDrive Gran Coupe Sedan
- MSRP: $87,900
- Freight, dealer prep, air conditioning tax: $2,230
- Dealer discount (estimated): $3,500
- Factory discount: $15,000 (manufacturer incentive)
- Taxable subtotal: $71,630
- ·Total price with 13% HST: $80,941.90
- 2.90% financing for 48 or 60 months available with $15,000 factory incentive
2014 Jeep Wrangler Rubicon 2-door, 4WD
- MSRP: $35,095
- Freight, dealer prep and air conditioning tax: $1,830
- Dealer discount (estimated): $2,000
- Factory discount: $2,500 (manufacturer incentive)
- Taxable subtotal: $32,425
- Total price with 13% HST: $36,640.25
- 3.99% financing for 48 or 60 months available with $2,500 factory incentive
2014 Honda Odyssey EX-L with Rear Entertainment System
- MSRP: $41,990
- Freight, dealer prep, AC tax: $1,830
- Dealer discount (estimated): $1,600
- Factory discount: $3,000 (manufacturer incentive)
- Taxable subtotal: $39,220
- Final price: $44,318.60
- 0.99% financing available doe 48 months, but cannot be combined with factory incentive
2014 Kia Sorento AWD 4 door V6 Auto LX
- MSRP: $31,495
- Freight, PDI, AC tax: $1,800
- Dealer discount (estimated): $1,000
- Factory discount: $4,000 (Ford Delivery Allowance factory-to-dealer rebate)
- Taxable subtotal: $28,295
- Total price with 13% HST: $31,973.35
- 0.00% financing available for 48 or 60 months but cannot be combined with factory incentive
Pricing information source: unhaggle.com and carcostcanada.com. Calculations based on Ontario customers. Please note that while the information above is accurate at the time of publication, incentives are given at the discretion of individual dealers, and may be changed or discontinued at any time. Where noted, “dealer discounts” are negotiated with the customer on a case-by-case basis. Unhaggle Savings are actual discounts received by Unhaggle customers.
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