10 Car Models That Will Have Massive Price Drops in September 2024

With new cars still selling at a premium, today’s car buyer needs to be smarter about when they purchase a new car. Timing can be critical, and securing a deal at just the right time can save you hundreds or thousands of dollars.

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Online and in-person dealerships tend to see more traffic and bigger crowds on holiday sales events, where sellers offer substantial rebates and financing to move inventory throughout the year. End-of-cycle days at the end of the month, and especially at the end of the year, are busy times for dealers looking to clear their lots and meet sales targets.

If you’re happy to spend far less to drive a year- or two-year-old “new” car, now is the time to strike. According to Kelley Blue Book (KBB), new car transaction prices continue to dip and incentives have been creeping up for the past few months, reaching 7% of the transaction price, the highest it’s been for more than three years.

RealCarTips is reporting that discounts this September should be “MUCH BETTER” compared to deals last year, and you might even find dealers willing to negotiate less constrictive financing deals too. According to the site, dozens of popular and luxury models are currently discounted at 10% off the manufacturer’s suggested retail price (MSRP) or more, with one highly recommended electric vehicle (EV) leading the way at a tremendous 16.3% off MSRP.

Here are 10 of the best current deals on models and some of their parent brands’ best deals for September, per RealCarTips.

2023 Hyundai Ioniq 5 (Limited)

• Average MSRP: $53,935
• Average Discount: $8,785
• % Off MSRP: 16.3%

You can get an Ioniq 5 from 2023 for 16.3% off MSRP right now, and RealCarTips is expecting Hyundai to offer $7,500 in cash rebates on the 2024 model in September. Look for APR deals on the Ioniq 5 too, as Hyundai will likely continue to offer 0% financing for 60 months.

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2023 Mercedes EQE SUV (EQE 500 4Matic)

• Average MSRP: $90,650
• Average Discount: $13,277
• % Off MSRP: 14.6%

There doesn’t look to be any cash back rebates coming from Mercedes in the near future, but you can save big on an older model, like this 500 4Matic EQE SUV, which Car & Driver calls the 2024 model the best EQ version and praises Mercedes’ “take on luxury with a cabin rich in nice materials and desirable tech features.” The upgraded 500 4Matic 2023 discounted now generates 402 horsepower and 633 pound-feet of torque.

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2023 Hyundai Ioniq 6 (Limited)

• Average MSRP: $57,215
• Average Discount: $8,213
• % Off MSRP: 14.4%

Although the release date is unspecified, Hyundai has announced that changes to the 2025 will be minimal . A 2024 model should come with a $7,500 cash rebate, but a 2023 Ioniq 6 will be handsomely discounted by $8213 off the average MSRP.

2024 Mercedes EQE SUV (EQE 350+)

• Average MSRP: $79,050
• Average Discount: $11,262
• % Off MSRP: 14.2%

Although Edmunds wishes the 350+ EQE would perform better, the site said that “otherwise this is a smart pick for a luxury electric SUV.” You can get 14.2% off MSRP on this The EQE 350+, comes with long range and a higher-capacity battery pack.

2023 Hyundai Sonata (SEL)

• Average MSRP: $32,915
• Average Discount: $4,642
• % Off MSRP: 14.1%

This is more like it! One of the most affordable car brands currently offering a discount to bring its Sonata to under $30,000 with a $4,642 average reduction in cost. That’s around fair market price per KBB. Hyundai always offers great deals, so expect more to come in September on the 2024 and 2025 Tucson and the aforementioned Ioniq 5 and 6.

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2023 Nissan Titan (Platinum Reserve)

• Average MSRP: $64,640
• Average Discount: $8,699
• % Off MSRP: 13.5%

The Ford F-150, Ram 1500 and Chevrolet Silverado 1500 are more popular, but with a 13.5% MSRP discount, you’ll be able to swing this Titan trim, that comes with a standard V8, many advanced safety features and wireless Apple CarPlay. Looks for $3,000 in cash rebates in September on the base Tian and XD trims, per RealCarTips.

2023 Mercedes SL (AMG SL 63)

• Average MSRP: $184,150
• Average Discount: $24,881
• % Off MSRP: 13.5%

We know what you’re thinking: “I can get $25,000 off a Mercedes?!?!” Yes, it’s true, but it’s on what will be a two-year-old model that normally sells for over $184,000! Still, 13.5% off MSRP isn’t something to turn your nose up at.

2023 Land Rover Discovery Sport (SE R-Dynamic)

• Average MSRP: $49,675
• Average Discount: $6,627
• % Off MSRP: 13.3%

RealCarTips recommends the 2025 Land Rover Range Rover Velar and 2024 Range Rover Evoque if you’re in the market for an upcoming lease. If you’ve had your eye on an SE R-Dynamic Discovery Sport, a current discount can bring the MSRP closer to $40,000.

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2023 Mercedes EQS SUV (EQS 580 4Matic)

• Average MSRP: $127,100
• Average Discount: $16,492
• % Off MSRP: 13.0%

For 2024 models, RealCarTips feels it’s smarter to look at a Merc C-Class and GLB for deals rather than the E-Class or CLE. Or you could go with a slightly older, more expensive vintage, like a 2023 EQS 580 4Matic, which should yield you a significant savings at the dealership or online somewhere like TrueCar.

2024 Infiniti QX80 (Sensory)

• Average MSRP: $90,930
• Average Discount: $11,753
• % Off MSRP: 13%

Overall, the average rebate throughout all Infiniti models is $1,300, per RealCarTips, but the site thinks you’ll be able to get $2,000 and $1,000 cash rebates on a 2024 QX50 and QX60, respectively. The higher-end QX80 is currently selling for $11,753 less than MSRP, depending on where you’ll be looking.

September Brings New Models

As most car enthusiasts know, big-hearted bonuses are just around the corner. September is the time of the year when automakers and dealers changeover inventory by bringing in new models, making current models surplus and ripe for a bargain.

For every manufacturer that makes a significant model redesign from 2024 to 2025, there are many who are between remakes and for whom a new model is nearly identical to the previous, minus a few minor design or feature changes.

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This article originally appeared on GOBankingRates.com : 10 Car Models That Will Have Massive Price Drops in September 2024