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deals of the week

We have highlighted in recent columns the dramatic rise in popularity of SUVs and crossovers coupled with an overall decline in unit sales of cars. However, there is a war brewing in the compact segment of the market where significant sales growth is still available for those with the most compelling product.

As examples, the Honda Civic, Hyundai Elantra, and Chevrolet Cruze are all experiencing double-digit growth in unit sales so far in 2016, even after a record-breaking 2015. The common characteristic among all three examples is that each was the beneficiary of a highly anticipated recent model redesign. Notwithstanding the success of SUVs and crossovers, it is clear that auto makers remain committed to competing in the compact segment with even more new product to come.

Honda recently unveiled the Civic hatchback, and it will once again be available in North America beginning as a 2017 model after an 11-year hiatus. General Motors is scheduled to release an all-new Chrevrolet Cruze hatchback later this fall. Hyundai is also expected to launch a re-designed Elantra GT after the rollout of its all-new sedan.

In the meantime, this week our favourite deals highlight hatchbacks that come with big savings in smaller packages:

2016 Hyundai Elantra (Hyundai)

2016 Hyundai Elantra GT

Cash purchasers can take advantage of a $3,000 manufacturer incentive on the 2016 Elantra GT while finance customers are entitled to a $1,000 rebate. Financing for up to 84 months is available at zero per cent and leasing for up to 48 months is available at 0.99 per cent.

2016 Hyundai Elantra GT GLS Automatic

  • MSRP: $23,549
  • Manufacturer incentive: $3,000
  • Estimated dealer discount: $500
  • Freight, PDI, government fees: $1,835
  • Cash purchase price before tax: $21,884
  • Finance for 60 months at zero per cent interest for $450 per month including tax (includes a $1,000 manufacturer incentive applied before tax and assumes zero down payment)
  • Lease for 48 months at 0.99 per cent interest for $364 per month including tax (assumes a 20,000 annual kilometre allowance and zero down payment)
2016 Kia Rio (Kia)

2016 Kia Rio Five-Door

Cash purchasers can take advantage of a $2,500 manufacturer incentive on the 2016 Rio Five-Door (compared to $2,000 in February) while finance and lease customers are eligible for a $1,000 rebate. Financing for up to 84 months and leasing for up to 48 months are available at zero per cent (compared to 0.9 per cent in February for lease).

2016 Kia Rio Five-Door LX+ Automatic

  • MSRP: $17,595
  • Manufacturer incentive: $2,500
  • Freight, PDI, government fees: $1,685
  • Cash purchase price before tax: $16,780
  • Finance for 60 months at zero per cent interest for $344 per month including tax (includes a $1,000 manufacturer incentive applied before tax and assumes zero down payment)
  • Lease for 48 months at zero per cent interest for $258 per month including tax (includes a $1,000 manufacturer incentive applied before tax, assumes a 20,000 annual kilometre allowance and zero down payment)

2016 Mitsubishi Lancer Sportback (Mitsubishi)

2016 Mitsubishi Lancer Sportback

Cash purchasers can take advantage of a $1,500 manufacturer incentive on the 2016 Lancer Sportback (compared to $1,000 in February) while lease customers are entitled to a $750 rebate. Financing for up to 60 months is available at 0.99 per cent (compared to 1.99 in February) and leasing for up to 48 months is available at zero per cent.

2016 Mitsubishi Lancer Sportback SE CVT

  • MSRP: $20,998
  • Manufacturer incentive: $1,500
  • Freight, PDI, government fees: $1,740
  • Cash purchase price before tax: $21,238
  • Finance for 60 months at 0.99 per cent interest for $439 per month including tax (assumes zero down payment)
  • Lease for 48 months at zero per cent interest for $283 per month including tax (includes a $750 manufacturer incentive applied before tax, assumes a 20,000 annual kilometre allowance and zero down payment)

2016 Mercedes-Benz B250 (Mercedes-Benz)

2016 Mercedes-Benz B-Class

Cash purchasers can take advantage of a $1,500 manufacturer incentive on the 2016 B-Class (compared to zero in February). Financing for up to 60 months is available at 0.9 per cent while leasing for up to 45 months is available at 1.90 per cent. Finance and lease customers can also qualify for a three-month payment waiver (a maximum of $400 per monthly payment for lease, and $600 per monthly payment for finance).

2016 Mercedes-Benz B 250

  • MSRP: $31,700
  • Manufacturer incentive: $1,500
  • Estimated dealer discount: $500
  • Freight, PDI, government fees: $2,215
  • Cash purchase price before tax: $31,915
  • Finance for 60 months at 0.90 per cent for $644 per month including tax (assumes zero down payment)
  • Lease for 45 months at 1.90 per cent interest for $493 per month including tax (assumes a 18,000 annual kilometre allowance and zero down payment)

Andrew Tai is CEO of Unhaggle

Pricing and calculations are based on Ontario customers and subject to availability of inventory. Please note that while the information above is accurate at the time of publication, pricing, incentives, and discounts may vary and are subject to change or discontinuation at any time. Dealer discounts are estimates and may be given at the discretion of individual dealers. Consult your local dealership for details.

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