The average new vehicle price in Canada, reports Power Information Network or PIN data, has been hovering around $33,000 for 2014, while the average transaction price has bounced around $29,000. The lesson: the savvy shopper should be aiming for a discount of about $4,000 off the sticker, on average.
Now this is a discussion of average discounts. Some vehicles will wear richer sales sweeteners, while others – ones in high demand and short supply – might not come with a penny in incentives.
One car which stands out for being incredibly average is the 2014 Hyundai Sonata. The SE model with automatic gearbox lists for just about the average sticker price – $27,999 – and Hyundai Canada has slapped on a $4,000 factory discount, again just about the average found in the PIN data.
The savings shouldn't end there, however. With a renovated 2015 Hyundai Sonata due in showrooms just months from now, notes pricing service unhaggle.com CEO Andrew Tai, Hyundai Canada is pushing hard – along with dealers – to keep lots clear of the 2014 version.
The shopper who bargains hard should be able to squeeze out another $1,400 or so in a dealer discount. So that's more than $5,000 in total savings on a $28,000 mid-size sedan.
Hyundai Canada has another twist on its Sonata deals, too. A $2,500 factory incentive can be combined with 0.0 per cent financing for four or five years. The $2,500 is also on the table with a 2.99 per cent rate for 48 months.
BMW has a $3,500 factory deal on its 328i xDrive Touring wagon. Look for a dealer discount in the $2,500 range on top of that. Another offer of note is the $4,000-plus in combined factory and dealer discounts on the Kia Sorento SUV. And more than $3,000 is in play on the very practical Ford Escape compact SUV.
So four deals at or about the average, though you may be able to strike an even better deal of your own. I mean, who wants to be average?
Deals of the Week consulted with unhaggle.com, Car Help Canada, 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 the final details, including expiry dates for all offers.
2014 Hyundai Sonata 4 door Sedan 2.4L Auto SE*
- MSRP: $27,999
- Freight, dealer prep, air conditioning tax: $1,830
- Dealer discount (estimated): $1,400
- Factory discount: $4,000 (manufacturer incentive)
- Taxable subtotal: $24,429
- Total price with 13% HST: $27,604.77
- A $2,500 manufacturer incentive is available with 0.0% financing for 48 or 60 months
2015 Kia Sorento FWD 4 door I4 GDI Auto LX
- MSRP: $26,995
- Freight, dealer prep and air conditioning tax: $1,800
- Dealer discount (estimated): $1,200
- Factory discount: $3,198 (manufacturer incentive)
- Taxable subtotal: $24,397
- Total price with 13% HST: $27,568.61
- Full manufacturer incentive is available with 0.0% financing for 48, 60 or 84 months
2014 BMW 328i xDrive Touring Wagon
- MSRP: $47,850
- Freight, dealer prep, AC tax: $2,230
- Dealer discount (estimated): $2,500
- Factory discount: $3,500 (manufacturer incentive)
- Taxable subtotal: $44,080
- Total price with 13% HST: $49,810.40
- A $1,000 manufacturer incentive is available with 1.90% financing for 48 or 60 months.
2014 Ford Escape FWD 4 door SE
- MSRP: $26,999
- Freight, PDI, AC tax: $1,785
- Dealer discount (estimated): $1,400
- Factory discount: $1,000 (manufacturer incentive)
- Taxable subtotal: $26,384
- Total price with 13% HST: $29,813.92
- Factory discount: $1,000 (Costco rebate)
- Final price: $28,813.92
- The manufacturer incentive and Costco rebate are available with 0.0% financing for 48 or 60 months
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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*Correction: The above story refers to a deal on the 2014 Hyundai Sonata. The story has been changed, an earlier version had the incorrect model year.