Just as traditional retailers are offering big discounts on now out-of-season Halloween costumes and candy in anticipation of the incoming holiday gear, auto makers are offering upsized discounts on remaining inventory of 2016 models to make room for 2017 models.
Noteworthy discounts exist even within the luxury segment where a number of entry-level models feature incentives totalling $5,000 or more. While buying a 2016 model at this time of year might mean that you are limiting yourself to whatever is on the dealership lot, such sizable savings are hard to ignore.
Luxury auto makers continue to be aggressive in widening their audience and our featured deals this week will get you into a luxury nameplate for less than $500 per month on a lease.
2016 Audi A3
Standard features include Xenon plus headlights, panoramic roof and Audi Multi Media Interface with 7-inch colour display. Cash purchasers can take advantage of a $5,000 manufacturer incentive on the 2016 A3 Sedan (as compared to $4,500 in October) while finance and lease customers are eligible for a $2,500 rebate. Financing for up to 60 months is available at 0.9 per cent and leasing for 48 months is available at 1.9 per cent.
2016 Audi A3 2.0 Komfort Automatic Sedan
- MSRP: $36,400
- Manufacturer Incentive: $5,000
- Estimated dealer discount: $1,000
- Freight, PDI, government fees: $2,235
- Cash purchase price before tax: $32,635
- Finance for 60 months at 0.9 per cent interest for $677 per month including tax (includes a $2,500 manufacturer incentive and assumes zero down payment)
- Lease for 48 months at 1.9 per cent interest for $471 per month including tax (includes a $2,500 manufacturer incentive, assumes a 20,000 annual kilometre allowance and zero down payment)
2016 BMW 3 Series
Standard features include a leather-wrapped sport steering wheel, HD radio and iDrive infotainment system with 6.5-inch screen (8.8-inch screen also available). Cash, finance and lease customers are eligible for a $2,000 manufacturer incentive on the 2016 3 Series. Financing for up to 72 months is available at 0.9 per cent and leasing for 48 months is available at 1.9 per cent.
2016 BMW 320i xDrive Sedan Automatic
- MSRP: $39,990
- Manufacturer Incentive: $2,000
- Estimated dealer discount: $1,000
- Freight, PDI, government fees: $2,285
- Cash purchase price before tax: $39,275
- Finance for 60 months at 0.9 per cent interest for $757 per month including tax (includes a $2,000 manufacturer incentive and assumes zero down payment)
- Lease for 48 months at 1.9 per cent interest for $534 per month including tax (includes a $2,000 manufacturer incentive, assumes a 20,000 annual kilometre allowance and zero down payment)
2016 Volvo S60
Standard features include Volvo’s City Safety collision avoidance system, which is on all trims, Sensus Connect with integrated 7-inch colour display and HD radio. Cash purchasers can take advantage of a $7,000 manufacturer incentive on the 2016 S60 while finance and lease customers are eligible for a $3,000 rebate. Financing for up to 72 months is available at zero per cent and leasing for up to 48 months is available at 1.9 per cent.
2016 Volvo S60 T6 All Wheel Drive Premier
- MSRP: $46,350
- Manufacturer Incentive: $7,000
- Estimated Dealer Discount: $1,000
- Freight, PDI, government fees: $2,015
- Cash purchase price before tax: $40,365
- Finance for 60 months at zero per cent interest for $834 per month including tax (includes a $3,000 manufacturer incentives and assumes zero down payment)
- Lease for 48 months at 1.9 per cent interest for $749 per month including tax (includes a $3,000 manufacturer incentive, assumes a 20,000 annual kilometre allowance and zero down payment)
2016 Lexus IS
Standard features include LED headlamps, lane departure alert system with steering assist and SiriusXM Satellite Radio. Cash purchasers can take advantage of a $6,000 after-tax manufacturer incentive on the 2016 Lexus IS 350 (as compared to $4,000 in September) while finance and lease customers are eligible for a $3,000 after-tax incentive. Financing for 60 months is available at 2.9 per cent and leasing for 48 months is available at 1.9 per cent.
2016 Lexus IS 350 All Wheel Drive
- MSRP: $52,100
- Manufacturer Incentive: $6,000 (after tax)
- Estimated dealer discount: $1,750
- Freight, PDI, government fees: $2,185
- Cash purchase price before tax: $46,535
- Finance for 60 months at 2.9 per cent interest for $1,010 per month including tax (includes a $3,000 manufacturer incentive applied after tax and assumes zero down payment)
- Lease for 48 months at 1.9 per cent interest for $667 per month including tax (includes a $3,000 manufacturer incentive and assumes a 20,000 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.