New Research Shows Price Discounts for Convertibles in 2011

Earlier this month, we reported on how the auto valuation company TrueCar showed relatively deep discounting on various high inventory new car models. From recent TrueCar reports, we’re learning that consumers can get some pretty good deals on a range of convertibles, and as summer begins, now might be the time to highlight these vehicle pricing opportunities.

TrueCar estimates are based on the “average price” – that’s the actual transaction price that the new car buyer pays. TrueCar compares this to MSRP for several new convertibles from different auto makers and finds that customers frequently get these cars at bargain prices.

At the top of TrueCar’s list is the 2011 Mitsubishi Eclipse Spyder. This car bears an MSRP of almost $29,000, but TrueCar is finding that the average price paid is more like $25,400, for an estimated 11% discount. If you’ve never heard of this car, a more familiar one also gets a 10% discount, according to TrueCar’s list: the company’s data shows customers pay an average of about $31,800 for a 2011 Ford Mustang convertible, where the MSRP is $35,495. Sure, even $31,800 might not really be a steal for a lot of new car buyers, but it’s still a good amount of savings.

Some of the other choices on TrueCar’s convertible roster combine these price discounts with good mpg. For example, the 2011 Mazda MX5 and Volkswagen EOS cars have MSRPs around $22,300 and $31,500 respectively, and both are discounted above 6% according to TrueCar’s research numbers. With 24.3 and 24.6 mpg, these cars will get you further on a tank of gas than some of the other available options.

If you find yourself thinking you’d like to put the top down on your next new car, these models represent some of the major scores that you could make at the dealer’s lot this summer. Combine good price research with auto financing strategy, and you could save even more, trimming dollars from your monthly payments and signing on for less debt over time. Look around to third party lenders and get the best no-fee, low interest rate auto loans that will match your budget. It’s all part of “due diligence” for your new car deal, work that will pay off when you drive away from the lot.