What’s the Best New-Car Deal for November 2022?

It’s hard to believe Thanksgiving is right around the corner, yet the calendar insists it’s November, reminding us to prepare for an overabundance of food, family, football … and sticker shock. Rising inflation may rear its ugly head at the grocery stores and malls this season, but will shoppers also have to battle elevated new-car prices? J.D. Power’s latest sales forecast predicts the answer will be “yes” for many.

Related: Inventory Shortage Leaves Little Room for Haggling; Here Are 5 Other Ways to Save on Your Car Purchase

Even as new-vehicle inventory levels have recently made modest improvements amid the seemingly endless inventory shortage (the good news), J.D. Power reports almost half of new cars are still being sold above MSRP (the bad news). The average new-car transaction price is estimated at $45,599 for October — a 2.7% increase from the same time a year prior. The end-of-year holidays typically coincide with sale season, bringing steeper discounts on large purchases like new cars. Not this year, warns J.D. Power: The average incentive spend per vehicle was estimated at $882 in October, down nearly 45% from the same time a year previously. That equates to just 1.9% off average MSRP.

Not all vehicles are following the status quo, however. The four best deals featured below fall into the two most popular vehicle classes in the U.S.: SUVs and pickup trucks, which J.D. Power says comprised 79% of all new-vehicle sales in October. More importantly, these vehicles are ringing in the shopping season with significantly higher than average discounts. Read on for more.

2022 Chevrolet Equinox

• Factory discount: $1,500
• Approximate price after savings: $26,000-$43,000
• Approximate factory savings: 3%-5%
• Offer ends: Nov. 30

The Equinox is a familiar nameplate on our best deals roster for its respectable road-trip-ready fuel economy and family-friendliness after being updated for 2022 with a restyled front and rear end, a new RS trim and added parking assist features. It returns to kick off the holiday season with savings of $1,500 in all regions we surveyed. In lieu of the cash-back deal, shoppers who finance with Chevrolet parent automaker GM can get a special rate of 2.99% for 60 months. Both deals are available through Nov. 30.

2022 Jeep Compass

• Factory discount: $1,000-$3,000
• Approximate price after savings: $25,500-$41,500
• Approximate factory savings: 2%-11%
• Offer ends: Nov. 30

Like its aforementioned Equinox rival, the Compass also benefited from a series of updates for 2022 that includes an improved cabin with the latest Uconnect infotainment system, higher-quality materials for a more upscale look inside, extra storage, more standard safety features and newly available creature comforts. The compact SUV also offers substantial savings this month between $1,000-$3,000, depending on trim and region. Qualified shoppers who finance with Jeep parent Stellantis can forgo the cash-only deal for financing rates of 2.9% for 60 months or 0% for 36 months (both offers come with up to $2,500 in bonus cash). And like the Equinox, all available discounts are good through Nov 30.

2022 Jeep Gladiator

• Factory discount: $1,000-$2,500
• Approximate price after savings: $37,000-$67,000
• Approximate factory savings: 1%-5%
• Offer ends: Nov. 30

If your holiday plans include spending time off the beaten path, the off-road-capable Jeep Gladiator is a welcome addition to the monthly deals roundup. The mid-size pickup is making its presence known with observed savings of $1,000-$2,500 for November in the regions we surveyed. Shoppers who finance with Stellantis can skip the cash-only deals in favor of financing at 6.49% for 60 months with up to $2,500 in bonus cash. All deals are valid through Nov. 30.

Editor’s Choice: 2022 Ram 1500 Big Horn/Lone Star

• Factory discount: $1,750-$4,800
• Approximate price after savings: $41,500-$74,000
• Approximate factory savings: 2%-10%
• Offer ends: Nov. 30

After a short hiatus from our list in October, the 2022 Ram 1500 reclaims the title of Editor’s Choice this month. The pickup’s Big Horn and Texas-exclusive Lone Star models bring savings between $1,000-$4,800, depending on the region. Qualified shoppers who finance with Stellantis can take advantage of the automaker’s financing rates in place of the cash-only deal. Available deals include 1.9% for 60 months and $3,500 cash back; 2.9% for 72 months and $4,250 cash back; and 0% for 48 months and $5,000 cash back in the regions we surveyed. All offers are good through Nov. 30.

How We Look for Deals

To help car shoppers find the best deals for November, we lead with cash offers available to shoppers at large, not those that require financing with the automaker or having certain qualifications (e.g., military or college-graduate discounts, loyalty or conquest bonuses, etc.). In calculating the overall percentage discount and pricing after incentives, we focus on the vehicle’s price range from the cheapest incentives-eligible trim level with no factory options to the priciest eligible trim with all factory options. We include the destination charge in such pricing, but we exclude a few other items: taxes and fees, which vary considerably by region, and dealer accessories, which vary considerably by automaker.

Because these are factory discounts, they should be available to all participating dealers. As such, use them as the starting point for negotiations, not a reason to skip haggling altogether.

Incentives data come from automakers’ websites. Remember, our numbers are current as of publication for the markets we survey (generally Atlanta, Chicago, Denver, Houston, Los Angeles and New York). They reflect advertised customer discounts, not unadvertised factory-to-dealer cash. Discount financing typically requires qualifying credit, too, and incentives may vary by region and trim level; automakers may also change them later in the month. In sum: Your discounts may vary, so check with your local dealer for specifics.

More From Cars.com:

• What’s New for the 2023 Jeep Gladiator?
• Jeep Gladiator: Which Should You Buy, 2021 or 2022?
• Is the 2022 Jeep Compass a Good SUV? 5 Things We Like and 4 We Don’t
• How Long Will the Vehicle Inventory Shortage Last?
• When Will Used-Car Prices Drop? 3 Things Car Shoppers Should Know

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