The onset of fall means it’s clearance time in the new-vehicle business, as dealers and manufacturers are slashing prices and beefing up incentives to help clear 2024 models from their lots, just as the factory-fresh 2025’s are rolling in.
Unfortunately for dealers, the annual model changeover period occurs this year just as they’re experiencing overloaded inventories for the first time since the pandemic triggered widespread product shortages. There’s an added sense of urgency in that unsold 2024 stock for which dealers continue to pay financing costs will soon become the automotive equivalent of day-old bread compared to those from the new model year.
The automotive marketing firm ZeroSum reports that the average “market adjustment” for new vehicles in the U.S. (combining discounts and incentives) has more than tripled over the past 12 months, going from an average $532 to $1,836, just as dealer inventories have swelled by about a third, rising from 1.96 million units to 2.95 million vehicles in stock.
Thus it should come as no surprise that a check of automakers’ websites shows the vast majority of 2014 models are being offered with some sort of incentive this month, which in addition to cash-back deals includes discounted lease terms and cut-rate financing as low as 0.00%. They’re slapping rebates as generous as $10,000 on their costliest, albeit slower-selling, models, including cars, trucks, SUVs and electrified vehicles.
The highest rollers in this regard are several luxury brands that traditionally would not offer cash back deals to prevent “cheapening” the brand and adversely affecting resale values. Audi is the most represented brand on this month’s rebates list, topping out at the full $10,000 level.
We’re presenting the full list of models being sold this month being offered with rebates of at least $3,000 below.
Some of the best offers combine both rebates and financing incentives, or lease bonus cash with discounted terms. What’s more, many brands selling electric and plug-in hybrid vehicles that would not otherwise qualify for the one-time federal tax credit are exploiting a loophole in the program that allows them to pass along the full $7,500 otherwise granted to fleet buyers in lease cash. Lexus is taking this to a higher level by offering $9,500 in lease cash for the 2024 NX and 2024 RX plug-in hybrid models, while Toyota is giving a whopping $16,250 in bonus cash this month to those leasing its bZ4X electric car.
As is always the case, there are some disclaimers involved. First, incentives often vary from one part of the country to another, usually to address local supply and demand issues, so be sure to check automakers’ websites (usually under a “special offers” tab to confirm what’s being offered locally.
The maximum rebates granted to all buyers are listed below, and some may account for multiple combined offers where available. Some rebates may vary according to a given model’s trim level. Though they’re not listed here, additional rebates are often granted to current model owners or conquest shoppers. As an example, Mercedes-Benz is giving as much as $5,000 cash back to loyal customers on select models this month. Other rebates may be available to recent graduates, members of the military, first responders and those belonging to certain groups.
The Best New-Car Cash-Back Rebates For September
- 2024 Audi A8: Up to $10,000
- 2024 Audi S8: Up to $10,000
- 2024 Audi e-tron GT: Up to $10,000
- 2024 Audi RS e-tron GT: Up to $10,000
- 2024 Audi A6: Up to $7,500
- 2024 Audi Q8: Up to $7,500
- 2024 Audi SQ8 e-tron: Up to $7,500
- 2024 Cadillac Lyriq: Up to $7,500
- 2024 Genesis G90: Up to $7,500
- 2024 Hyundai Ionic 5: Up to $7,500
- 2024 Hyundai Ionic 6: Up to $7,500
- 2024 Kia EV6: Up to $7,500
- 2024 Kia EV9: Up to $7,500
- 2025 Nissan Leaf: Up to $7,500
- 2024 Kia Niro EV: Up to $6,500
- 2024 Jeep Grand Cherokee: Up to $6,500
- 2024 GMC Sierra 1500: Up to $6,000
- 2024 Lucid Air: Up to $5,000
- 2024 Ram 1500: Up to $5,000
- 2024 Ram 1500 Classic: Up to $5,000
- 2023 Volkswagen Arteon: Up to $5,000
- 2024 Nissan Leaf: Up to $4,750
- 2024 Jeep Compass: Up to $4,500
- 2024 Audi S4: Up to $4,000
- 2024 Audi A5: Up to $4,000
- 2024 Audi S5: Up to $4,000
- 2024 Audi Q5: Up to $4,000
- 2024 Audi SQ7: Up to $4,000
- 2023 Dodge Challenger: Up to $3,750
- 2023 Dodge Charger: Up to $3,750
- 2023 Dodge Durango: Up to $3,600
- 2024 Jeep Gladiator: Up to $3,250
- 2024 Buick Encore: Up to $3,000
- 2024 Chrysler Pacifica PHEV: Up to $3,000
- 2024 Ford F-150: Up to $3,000
- 2024 Nissan Titan/XD: Up to $3,000
- 2024 Ram 2500: Up to $3,000
- 2024 Volkswagen Atlas: Up to $3,000
Source: Automakers’ websites.
