According to an iSeeCars analysis, Black Friday is historically among the best times to buy a car, marked by sales events that often extend through the upcoming holiday season. However, with used car prices at record highs and new cars consistently being marked up above MSRP due to increased demand in the wake of the microchip shortage, consumers in the market for a vehicle may be wondering if there are any deals to be had at the dealership this Black Friday.
iSeeCars analyzed over 2.1 million new and lightly used cars recently listed for sale in November to see which were offering deals this Black Friday. The analysis found that the average used car deal is 4.6 percent below market value, and the average new car is listed 11.4 percent above MSRP. iSeeCars identified the used vehicles currently listed with the biggest discounts, as well as the new vehicles that have the lowest markups, along with current new car incentives to help offset the price increases.
“The microchip shortage is expected to impact the new and used car market for most of 2022 and perhaps even longer, so car shoppers who were previously waiting to buy a vehicle might be unable to wait any longer,” said iSeeCars Executive Analyst, Karl Brauer. “For those who plan to head to the dealerships this Black Friday, the best chances for a deal are on sedans and on vehicles that aren’t among the most popular in their respective segments.”
Black Friday Used Car Deals
iSeeCars analyzed over 1.6 million 1-5-year-old used car listings to see which vehicles were most likely to offer Black Friday car sales. Of those vehicles, iSeeCars determined which vehicles had the largest discounts and identified the top 15 models. Sedans comprise the majority of the list, accounting for 11 vehicles.
Top 15 Best Black Friday Used Car Deals - iSeeCars
Subcompact cars account for the top four models: the Hyundai Accent, the Nissan Versa, the Mitsubishi Mirage G4, and the Kia Rio. Three additional affordable small cars, the Nissan Sentra compact sedan, the Hyundai Elantra compact sedan, and the Hyundai Veloster compact hatchback also make the list. “The declining popularity of sedans and the growth of the subcompact SUV segment has steered budget-conscious buyers away from small sedans in favor of affordable subcompact SUVs,” said Brauer. “These small cars are the lowest-priced used cars available and show that bargain-conscious used car shoppers can still find a deal in today’s market.”
Two luxury sedans make the list including the Kia Stinger sports sedan and the Genesis G80 midsize sedan. “While the Kia Stinger is a critically-acclaimed car, the slow-selling performance sedan hasn’t resonated with consumers, who likely favor competitors from premium brands,” said Brauer. “Similarly, the Genesis G80 is praised for its performance and value, but is among the slowest-selling luxury midsize cars likely due to shoppers having a preference for more established luxury brands.”
Three non-luxury sedans make the list: the midsize Hyundai Sonata, the midsize Nissan Altima, and the full-size Nissan Maxima. “As the popularity of sedans continues to decline, deals can be found on these quality cars that are less popular than competitors,” said Brauer.
Two Nissan pickup trucks make the list: the full-size Nissan Titan XD and the Nissan Frontier. “The Nissan Titan XD is a larger and heavier-duty version of the Nissan Titan, which is the least popular full-size truck on the market,” said Brauer. “The 2021 Nissan Frontier received a long-awaited redesign after 17 years, so used car buyers likely prefer more alternative midsize trucks with more modern and refined features.”
Rounding out the list is the Porsche 911. “Buyers who can afford a used Porsche 911, which has an average used car price of $162,493, will likely purchase a brand new version,” said Brauer. “However, knowing that used versions can be found for a -- relative -- deal, may attract used car shoppers who have always wanted to own this aspirational vehicle.”
Black Friday New Car Deals
The average new car is priced 11.4 percent over MSRP in the wake of inventory constraints from the microchip shortage. While no new vehicles are priced below MSRP on average, some vehicles have lower-than-average markups as well as lease deals with low APRs, low monthly payments, and low down payments. Here are 15 new cars with the smallest increases over MSRP.
New Cars Priced the Least Over MSRP - iSeeCars
% Above MSRP
The subcompact Jeep Renegade earns the top spot with just a 2.3 percent increase over MSRP, which amounts to $624. It’s joined by an additional subcompact SUV, the seventh-ranked Ford Ecosport. “The Jeep Renegade is among the pricier vehicles in its segment, but is praised for being an affordable off-roader, while the Ford Ecosport has been discontinued in 2022 due to poor sales,” said Brauer. “The Renegade has cashback incentives varying by region of up to $4,250, and both the Renegade and the Ecosport are offering zero-percent financing.”
Three Acura vehicles make the list, including the MDX midsize SUV, the TLX midsize sedan, and the RDX compact SUV. “The Acura MDX and Acura RDX are among the most reliable SUVs on the market and are among the most affordable vehicles in their segments, while the TLX is praised for its performance and sophistication,” said Brauer. “While these vehicles aren’t offering any incentives, there are special financing offers available making them great options for luxury car shoppers who don’t want to substantially overpay in today’s market.”
Four Hondas make the list: the Passport and the Pilot midsize SUVs, the Odyssey minivan, and the Accord Hybrid. “The two-row Honda Passport debuted in 2019 and has had lackluster sales, while the Pilot, Odyssey, and Accord Hybrid are among the best vehicles in their respective segments,” said Brauer. “The Passport is offering $1,250 cashback, but there are no current incentives for the Pilot, Odyssey, and Accord Hybrid.”
Two electric vehicles make the list, including the Hyundai Kona EV and the Chevrolet Bolt. “The Hyundai Kona EV debuted in 2019, and has received acclaim for its range and driving dynamics, and the Chevrolet Bolt has one of the longest EV ranges for the price,” said Brauer. “Kona buyers can take advantage of the EV federal tax credit of up to $7,500, and new Chevrolet Bolt buyers can take advantage of incentives of up to $8,000 to make up for the vehicle no longer qualifying for the federal tax credit.”
The Mazda MAZDA6 midsize sedan also makes the list. “The MAZDA6 is an acclaimed midsize sedan known for its performance and features, but is being discontinued for 2022 as consumers have largely left the family sedan segment for SUVs,” said Brauer. “Along with special financing options, a $500 cash offer is available to qualified buyers.”
The newly-released Kia Carnival minivan also makes the list. “The new for 2022 Kia Carnival debuted to widespread acclaim for its upscale interior, family-friendly features, and functionality,” said Brauer. “Buyers can take advantage of special finance offers, as well as Kia’s class-leading 10-year powertrain warranty.
Two additional luxury SUVs round out the list, including the INFINITI QX80 large SUV and the Buick Enclave midsize SUV. “The INFINITI QX80 isn’t as popular as its competitors in the large luxury SUV segment, which could explain its lower than average markup,” said Brauer. “Similarly, the Buick Enclave is among the slowest-selling midsize SUVs in terms of sales volume, and is currently offering up to $3,750 cashback as well as zero-percent financing.”
“Despite higher than normal used car prices in the marketplace, deals can still be had on used cars this Black Friday and through the end of the year,” said Brauer. “As for new cars, traditional deals are harder to come by, but certain models have lower-than-average price hikes that can be offset by special financing deals and incentives.”
iSeeCars analyzed over 1.6 million used cars from model years 2016-2020 listed for sale between November 1 and 14, 2021, and over 500,000 new cars listed for sale on November 12, 2021. For used cars, the models most frequently listed at a discount from fair market value were identified, and the average discount among the cars listed below market value was used to rank used cars with the best deals. For new cars, the average difference between list price and MSRP was used to rank new cars. Low-volume cars, heavy-duty vehicles, and vehicles not in production as of the 2021 model year were excluded from further analysis.
iSeeCars.com is a car search engine and automotive research firm that helps shoppers find the best car deals by providing key insights and valuable car buying resources, like the iSeeCars VIN check reports and Best Cars rankings. iSeeCars.com has saved users over $315 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of cars.