A new car costs less than the sticker price after more than a decade of insanely high car prices. These discounts are not significant. The average discount from sticker price was $15.

Edmunds senior manager of insights, Ivan Drury, said that the money was “admittedly not much.” We are on track to some degree of normalcy, but we are not there yet. ”

Edmunds also reports that “normal” now refers to a $47,681 average new-car transaction cost. In November, the average monthly payment for a new car was $718 due to rising interest rates of 6.6%.

It’s worse for used cars. The monthly payment for a used car loan is $565, with 10.2% interest rates. Leases cost $583 per month, with 5.8% interest rates.

Okay, it is not the best time to purchase a car. Some people want wheels right away and want the best value for their money. Is it possible for them to have a good time?

What’s the selling price for a sticker or less?

iSeeCars, a car search engine site, compiled a list with the best deals in new cars by comparing the sale price to the manufacturer’s suggested retail prices (MSRP).

Only two cars were sold at sticker price: the 2022 Infiniti QX80 at $80 529 and the 2022 Chevrolet Silverado 1600 at $50 095. The 2022 Honda Pilot is the cheapest vehicle on iSeeCars’ list of best deals, selling for $44,696, a mere $1399 more than the window sticker.

Edmunds data shows that large luxury cars can be discounted up to $3,000. Dealers also reduced the sticker prices of large trucks and subcompact SUVs by about $1,000.

Edmunds lists models below $50,000 that are most affordable:

Types of new cars

GMC Savana cargo van

10.4% Discount on $41,667 MSRP.

Mitsubishi Mirage subcompact car

8.8% Discount on $19,511 MSRP

Mercedes-Benz GLB-Class SUV

3.6% Discount on $47,984 MSRP.

Mitsubishi Outlander SUV

3.6% Discount on $35,130 MSRP.

Cadillac XT4 SUV

3.3% Discount on $45,348 MSRP

Ram 1500 Classic pickup

3.3% Discount on $45,333 MSRP

Ford Edge SUV

3.1% Discount on $45,014 MSRP.

Mazda CX-9 SUV

3.1% Discount on $45,795 MSRP

Cadillac CT4 sedan

3.0% Discount on $44,467 MSRP

Volvo XC40 SUV

2.7% Discount on $47,133 MSRP.

GMC Acadia SUV

2.7% Discount on $48,296 MSRP.

Audi A4 sedan

2.6% Discount on $49,027 MSRP.

Audi Q3 SUV

2.4% Discount on $44,971 MSRP.

Lincoln Corsair SUV

2.3% Discount on $46,404 MSRP.

What’s Hot and What’s Not

Avoid buying expensive cars, as they are more expensive. Edmunds data revealed that luxury SUVs costing more than MSRP were most expensive, at an average $2,863 higher. Minivans fetched $848 above sticker.

Many vehicles at the lower end of the market are subject to some dealer markup. Subcompact cars are the lowest priced segment of the market. They have an average MSRP $24,148 and are still being marked up by approximately $450. Subcompact SUVs were $543 more than the sticker.

Looking for a bargain

Mark Holthoff is senior editor at Carvana. To find a bargain on today’s market, “it is important to search for cars differently from most other shoppers,” he says. “Demand drives up the prices so the bargains tend not to be where most people don’t look.” ”

Here’s what experts say about bargain hunting:

Take a look at the bigger picture. Holthoff suggests that you consider the whole picture when deciding on a deal.

If you are able, take advantage of a carmaker’s discount financing. You can buy a higher-priced car that will be discounted, and then finance it through a manufacturer with a low-interest loan. Drury says that you will save thousands on interest payments over the long-term.

Look for older cars. Prices for older models, which are typically 2 to 3 years old, tend to be higher. Holthoff suggests that you look for well-maintained vehicles with low mileage, around 7 years old. Older cars, between 10 and 12 years old, can still be very useful and they are almost completely depreciated.

Take into account lesser-known brands. Because of their reliability reputations, brands like Toyota and Honda command premium prices in the used car market. Holthoff claims that other carmakers like Mazda, Kia, and Hyundai have produced excellent models for many years and are often much more affordable.

Flexibility is key. At least three models from different manufacturers are recommended. Accept your second choice in color and features.

What is a bargain EV?

It is rare to find the words “bargain” or “electric cars” in the same sentence. Electric vehicles (or EVs) are more expensive than gas-engine vehicles due to high gas prices and environmental concerns.

The Nissan Versa is the most affordable 2023 gas car in America at $15,730 plus delivery. The Chevrolet Bolt is the cheapest EV at $25,600 plus destination.

An EV can still be a bargain if you consider the bigger picture, which includes fuel savings, incentives, and lower maintenance costs. Brent Gruber is an executive director at J.D. Power. These factors taken together, “I believe EVs are generally a bargain.” ”