What’s the Best New-Car Deal for the End of 2023?

At long last, 2023 — another calm, sedate, uneventful year on the books — approaches its end. Before it does, though, a little extra holiday stress in that new-car search of yours couldn’t hurt that much, right? But if you’re currently shopping around in search of some savings before you toss this calendar aside in favor of 2024’s, take heart: Not only is inventory improving, but transaction prices are down and discounts are up — everything you want to hear as a consumer.

Related: How Do Inventory and Pricing Look for the EV Market?

That’s according to the latest analysis from J.D. Power, which projected transaction prices in November were down 1.9% from the same time in 2022 while discounts were up $400, or some 106% over the same period. That, combined with vehicles lasting longer on lots — J.D. Power says the average was 34 days in November, up from 12 in 2022 — means you have a better chance of finding what you want.

Even so, our best deals to round out 2023 are flush with familiar faces. In our research, the highest discounts in terms of raw percentage off MSRP varied wildly across trims and even ZIP codes, but the three vehicles below were most consistently reliable for rewarding your pocketbook. Read on for the details.

2023 Jeep Compass

• Factory discount: $0-$6,702
• Approximate price after savings: $32,000-$38,000
• Approximate factory savings: 0%-15%
• Offer ends: Jan. 2, 2024

Jeep’s subcompact SUV has been a fixture on our featured deals lists for some time now, but the 2023 model in particular benefits (well, somewhat) from a new 200-horsepower, turbocharged 2.0-liter four-cylinder engine. There have been little changes for 2024, so with the exception of the base Sport trim, now is a good time to jump at an outgoing model thanks to discounts of $1,500 cash back or 10% and even as high as 15% off MSRP in some of the regions we surveyed, which on a fully loaded High Altitude trim saves you more than $6,700. Alternatively, financing of 1.9% for 36 months or 4.9% for 60 months can be found, region depending. All such offers expire Jan. 2.

2023 Ram 1500

• Factory discount: $4,000-$13,055
• Approximate price after savings: $36,500-$74,000
• Approximate factory savings: 10%-15%
• Offer ends: Jan. 2, 2024

Though its Chevrolet Silverado 1500 rival in the full-size pickup truck class also has some pretty good deals going right now, in terms of sheer money off, there’s no better deal for the body style than what Ram is offering on its flagship 1500 model. Like fellow Stellantis brand Jeep, Ram is also offering either straight cash-back offers ($4,000 off most 1500 trims except the TRX) or percentage discounts of 10% across most trims — which, it should be noted, is basically the same as $4,000 off a base Tradesman work truck — and as much as 15% off MSRP in some regions we surveyed. In lieu of that, shoppers can also get discount financing of 2.9% or 3.9% for 72 months. Regardless of which route you choose, offers expire Jan. 2.

Editor’s Choice: 2023 Jeep Grand Cherokee

• Factory discount: $1,000-$7,820
• Approximate price after savings: $40,000-$77,000
• Approximate factory savings: 1%-10%
• Offer ends: Jan. 2, 2024

Jeep’s two-row mid-size SUV got a complete redesign for 2022, but not much significant changed for 2023 and pricing held steady for 2024. Indeed, there are discounts to be had for the ’24 model that in some cases rival what’s on offer for the ’23, so be sure to check both in your research — though depending on how much inventory your dealer has of each, you’ll likely be able to coax a little extra off on the outgoing model. We found anywhere from $1,000 to $3,500 cash back in the regions we surveyed, with alternative offers of up to 10% off most trims. Forgoing cash offers for financing is a little more limited, as lower trims get you 2.9% for 36 months or 5.9% for 72 months in the regions we surveyed. As with Stellantis’ other offers, these also expire Jan. 2.

How We Look for Deals

To help car shoppers find the best deals for the end of 2023, 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 window of relevance. In sum: Your discounts may vary, so check with your local dealer for specifics.

More From Cars.com:

• Here Are the 10 Cheapest New SUVs You Can Buy Right Now
• Here Are the 10 Cheapest Pickup Trucks You Can Buy Right Now
• Inventory Shortage Update: Should You Wait to Buy a Car?
• Should I Buy a New or Used Car?
• What Car Should I Buy?

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