Discounts on crossovers vehicles, which look like an SUV but are built on a car’s frame, are at their highest level in two years, reports the Wall Street Journal.
Shoppers can expect to find deals on crossovers including cash-back offers ranging from $500 to almost $4,000. Automakers also are using low-interest-rate deals and subsidized leases to entice buyers. The average incentive on a crossover in July was $2,437, the largest since September 2006, according to Edmunds.com.
Shoppers can lease a Nissan Rogue crossover right now for $229 a month for 24 months.
Crossovers are great for those who still need to room of an SUV and can’t fit into a sedan or smaller vehicle. Crossovers usually get better gas mileage as well, with most landing in the 25-miles-per-gallon range, 10 mpg more than most large SUVs. Many crossovers offer four-wheel drive and they handle better than big SUVs.
Dealers and industry analysts say that crossovers don’t appear headed for a permanent decline like SUVs, despite the shift to compact cars. They say the market shift to small cars has receded slightly in recent weeks as gas prices have dropped a bit.
Prices on crossovers range from less than $20,000 for smaller models like the Chevrolet HHR to more than $35,000 for larger luxury models like the Lexus RX 350.
"I think they’re going to have to do whatever it takes to liquidate the ’08 inventory," says Mike Maroone, chief operating officer of AutoNation Inc., the nation’s largest dealership chain. "It’s going to be aggressive.”
So if you know you want to purchase a crossover vehicle, now could be the time to buy.