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While we are only midway through September, car buyers now already have more than two hundred 2020 models to choose from when searching for a new vehicle. It may seem wise to take advantage of the deeper incentives on outgoing-model-year offerings; however, the choice is not always this black-and-white. The upfront purchase price is naturally the most obvious factor, but it can be overshadowed by several other key considerations.

Newer vehicles generally feature improvements to technology and, in some cases, also make good on deficiencies that preceding models may have had. The more visible changes can include complete redesigns or moderate facelifts, but invisible updates to various systems including infotainment software, driver assistance and even the powertrain can make a slightly newer car more rewarding to live with.

From a financial perspective, however, the initial cost of a 2019 vehicle is typically less than its successor. But purchase date being equal, a 2020 model will generally hold its value better than a 2019, especially for vehicles that may not be owned for more than a few years. The sum reclaimed upon resale or trade-in may negate the difference in purchase price between the incoming and outgoing iterations.

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That said, several automakers offer rebates on their newest 2020 models. We’ve featured some of our favourite offers on available 2020 models that also carry manufacturer incentives. If you don’t find an offer that suits you, be sure to check out the Globe Drive Build and Price Tool to see the latest incentives and discounts on any new car, truck or SUV.

Toyota Corolla

The Toyota Corolla is Canada’s second-bestselling passenger car, after only the Honda Civic, and has been one of the bestselling vehicles in the world since its launch. For 2020, the Toyota Corolla XLE not only underwent a major redesign, with new exterior styling aligned with its hatchback counterpart, but is now also available as a hybrid.

Depending on the trim, the 2020 Toyota Corolla comes with either a 1.8-litre, 139-horsepower engine or a 2.0-litre, 169-horsepower engine, both with engine start-stop capability. Toyota Safety Sense 2.0 is standard on all trims and includes a precollision system, lane-departure alert, dynamic-radar cruise control and lane-tracing assist. In addition, the XLE trim boasts an eight-inch touch-screen display, a seven-inch digital speedometer, heated and leather-upholstered seating and wireless cellphone-charging functionality.

2020 Toyota Corolla XLE
  • MSRP: $26,990
  • Manufacturer cash incentive: $500 (applied after tax, as compared to no incentive in August)
  • Estimated dealer discount: $250
  • Freight, PDI, government fees: $1,755
  • Cash purchase price before tax: $28,053
  • Finance for 60 months at 1.99 per cent interest for $555 per month including tax, which includes a $500 manufacturer incentive (applied after tax, as compared to no incentive in August) and assumes zero down payment
  • Lease for 48 months at 3.79 per cent interest for $417 per month including tax, which includes a $500 manufacturer incentive (applied after tax, as compared to no incentive in August) and assumes a 20,000 annual kilometre allowance with zero down payment

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Kia Soul

Handout

The last 12 months have been crucial to Kia’s effort to modernize its lineup. In addition to the launch of the all-new 2020 Telluride mid-size crossover, Kia has redesigned some of its already popular models, including the Forte compact sedan, Sportage compact crossover and Soul subcompact crossover.

With the 2020 model, Kia takes the Soul into its third generation, but remains faithful to its signature boxy profile. Powered by a 2.0-litre Atkinson-cycle engine mated to an infinitely variable transmission (IVT), the 2020 Kia Soul produces 147 horsepower and 132 lb.-ft of torque. All trims come standard with automatic headlights with escort functionality, heated front seats, Apple CarPlay and Android Auto compatibility and a rear-view camera. At the EX+ trim level, drivers are privy to forward collision-avoidance assist, lane-keep assist, blind-spot detection, a heated steering wheel and wireless phone-charging functionality. The EX+ trim’s exterior is equipped with an LED exterior lighting system, 17-inch alloy wheels and a sunroof.

2020 Kia Soul EX+ IVT
  • MSRP: $24,895
  • Manufacturer cash incentive: $1,000 (as compared to no incentive in July)
  • Estimated dealer discount: $250
  • Freight, PDI, government fees: $1,905
  • Cash purchase price before tax: $25,550
  • Finance for 60 months at 0.99 per cent interest for $513 per month including tax and assumes zero down payment
  • Lease for 48 months at 1.99 per cent interest for $359 per month including tax and assumes a 20,000 annual kilometre allowance with zero down payment

Get Local Price on Globe Drive

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Hyundai Elantra

Slotted between the subcompact Accent and the mid-size Sonata, Hyundai’s compact sedan, Elantra, is one of Canada’s most popular passenger cars.

The 2020 Elantra is equipped with a 2.0-litre Atkinson-cycle engine that outputs 147 horsepower and 132 lb.-ft of torque, relayed through an infinitely variable transmission. The Preferred trim’s interior features include a seven-inch touch-screen infotainment display, Android Auto and Apple CarPlay compatibility, a six-speaker audio system, a rear-view camera with dynamic guidelines, a heated and leather-wrapped multi-function steering wheel, automatic projection headlights and LED daytime running lights. The Preferred trim is also available with active safety features such as autonomous emergency braking, forward collision warning, lane-keeping assist and lane-departure alert, as well as a power sunroof.

2020 Hyundai Elantra Sedan Preferred with Sunroof + Safety IVT
  • MSRP: $22,099
  • Manufacturer cash incentive: $1,000 (as compared to $500 in July)
  • Estimated dealer discount: $250
  • Freight, PDI, government fees: $1,815
  • Cash purchase price before tax: $22,664
  • Finance for 60 months at zero per cent interest for $446 per month including tax and assumes zero down payment
  • Lease for 48 months at 0.9 per cent interest for $302 per month including tax and assumes a 20,000 annual kilometre allowance with zero down payment

Get Local Price on Globe Drive

Lexus NX

Out of Lexus’s 14-model-strong lineup, just three – the RX, NX and UX crossovers – make up nearly 75 per cent of the automaker’s new-vehicle sales so far this year.

The 2020 Lexus NX 300’s all-wheel-drive system is powered by a 235-horsepower, 2.0-litre engine and offers drivers the choice of Eco, Sport and Normal drive modes. The NX 300 comes standard with the Lexus Safety System+ 2.0, which includes a precollision system, automatic high-beams, dynamic-radar cruise control and lane-departure alert with steering assist. Inside the cabin, the occupants are privy to an eight-inch infotainment display with Apple CarPlay compatibility and an eight-speaker audio system. Both the driver and front passenger get power-adjustable and heated seats. The 2020 NX 300 also comes standard with an LED exterior-lighting system, headlight washers and windshield-wiper-deicing capability.

2020 Lexus NX 300
  • MSRP: $44,150
  • Manufacturer cash incentive: $2,500 (applied after tax, as compared to $1,500 in August)
  • Estimated dealer discount: $1,000
  • Freight, PDI, government fees: $2,185
  • Cash purchase price before tax: $43,123
  • Finance for 60 months at 2.9 per cent interest for $873 per month including tax, which includes a $2,500 manufacturer incentive (applied after tax, as compared to $1,500 in August) and assumes zero down payment
  • Lease for 48 months at 2.9 per cent interest for $584 per month including tax, which includes a $2,500 manufacturer incentive (applied after tax, as compared to $1,500 in August) and assumes a 20,000 annual kilometre allowance with zero down payment

Get Local Price on Globe Drive

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Andrew Tai is CEO of Unhaggle. Follow on Twitter @ahytai

Manufacturer incentives and pricing calculations are based on Ontario customers and subject to availability of inventory. Dealer discounts shown are estimates for illustrative purposes only, may vary by region and are given at the discretion of individual dealers. Please note that while every effort is made to ensure the information above is accurate at the time of publication, pricing, incentives and discounts are subject to change or discontinuation at any time. Vehicle images may not represent the exact model featured in the pricing provided. Consult your local dealership for details.

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