2022 Chevrolet Equinox
The month of March is typically associated with good luck and potential savings for car shoppers looking to buy a new vehicle.
However, due to the ongoing inventory shortage in the automotive industry, finding substantial savings on a new ride may be challenging.
This is reflected in the latest sales forecast by J.D. Power, which indicates that the average price of a new vehicle reached $46,229 in February, an increase of nearly 5% compared to the same time last year.
Although new-car incentives are beginning to recover, they are still far from the discounts that were available prior to the inventory shortage.
The average new-vehicle incentive currently stands at $1,335, which is a slight improvement from $1,275 observed a year ago, but it remains below 3% of a new vehicle’s MSRP.
One may wonder if finding the right car at the right price this month is as realistic as finding a pot of gold. However, there are some positive signs indicating that the situation may not be as bleak. Even though inventory levels have not returned to pre-pandemic levels, new cars are staying longer on dealer lots.
According to J.D. Power, the average number of days a new vehicle spends in a dealer’s possession before being sold has increased from 19 days in March 2022 to 29 days.
As inventory improves, new-car markups are starting to decline gradually. The firm estimates that 31% of new vehicles are currently being sold above MSRP, which is down from a record high of 48% in July 2022.
However, the demand for SUVs and pickup trucks continues to remain strong, accounting for nearly 80% of all new-vehicle sales in February.
Fortunately, finding a great price on an SUV or pickup truck this month may be easier than finding a four-leaf clover, as highlighted by our selection of the four best deals below.
2022 Chevrolet Equinox
2022 Chevrolet Equinox | Manufacturer image
- Factory discount: $1,000
- Approximate price after savings: $26,500-$44,000
- Approximate factory savings: 2%-4%
- Offer ends: April 3
The Chevrolet Equinox is known for its reasonable price and range of available features, which helped it secure a place among the best-value small SUVs in a recent affordability report. This month, the compact SUV becomes even more budget-friendly, as a discount of $1,000 is being offered on the 2022 model in half of the regions surveyed.
On the other hand, if customers choose to finance with the parent automaker GM, they can avail a special interest rate of 2.9% for 36 months instead of the cash offer.
The Equinox underwent minor styling updates and now comes with standard wireless Apple CarPlay and Android Auto connectivity in the 2022 model, which could be found at a discounted price, as more than 3,500 units were available among Cars.com inventory as of February.
Although the 2023 Equinox has undergone minimal changes and is already on sale, shoppers may still be able to find discounted 2022 models at dealerships. Both the cash and financing deals are valid until April 3.
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