This weekend the all-new 2016 Chevrolet Camaro will debut in Detroit. Chevy has slowly teased photos in an attempt to whip up a media frenzy. Why the special focus? A couple of reasons: The Camaro is an automotive icon, and sports cars are suddenly hot again with lower gas prices and an improving economy.
It’s a great time to crave a sports car. There are traditional coupes like the Camaro, Dodge Challenger, and Ford Mustang. Throw into the mix sedans like the Dodge Charger, the Nissan Maxima, and the Subaru WRX, and there is no shortage when it comes to selection or deals.
Expect the incentives to heat up as competitors attempt to mute the impact of the new Chevrolet Camaro. Manufacturers know they’re never going to poach true Camaro fans. But with the right MSRP and financing offers, they could stop current owners from straying and attract consumers who might be wavering between two brands.
The economy is getting better, but car companies know a little enticement is necessary. After all, a sports car is not something you need. It’s something you want. Smart salespeople, though, are going to play on your desires. They will make your head spin as they try to upsell you into more-powerful versions with monthly payments only $50 more a month. Heck, that’s less than a couple cups of Starbucks a week, right?
That’s why you never want to be too excited when buying a sports car. The deals are there to be had if you’re willing to forego some power (but not looks). For example, the base Dodge Challenger, with its V6 engine, has a cash allowance up to $1,500. Ford offers $500 back on the Mustang with some exclusions for special-edition models. (Ford will not offer you $500 to buy a Shelby, for example.)
The 2015 Camaro has some attractive finance deals going right now. There’s a $1,000 consumer cash deal being offered if you don’t finance or lease. Financing terms are attractive at 0% for 60 months. Pick up a 2014 Camaro Convertible (which must still be sitting on dealer lots), and you can get $3,000 consumer cash. There’s still inventory available.
How about those sporty sedans mentioned above? A V6 Dodge Charger in the SXT trim level with AWD has a cash allowance up to $2,500. The 2015 Subaru WRX, which is probably the best sports sedan dollar for dollar, is being offered with 2.9% financing.
The 2016 Nissan Maxima promises to be a completely different beast from the current generation—but that doesn’t make 2014 models a bad thing. (There is no 2015 model.) Nissan is offering financing as low as 0% for up to 72 months.
There’s one last thing to consider when buying a sports car: Don’t let your passion overrule your brain. The Dodge Charger earned a spot on a recent Forbes list of “Cars Consumers Can’t Wait To Get Rid Of.” Almost 8% of all Charger owners sell their car after one year. That’s great if you want to pick up a used Charger, but horrible when you consider how much a new car depreciates in 12 months.
Remember, you don’t need a sports car, but if you want one, there are deals to be had. You might get a little less oomph off the accelerator, but your bank account will thank you. Also, all these models can be had for good prices on the used car market. Check out CarGurus’ Price Trends Page to get the latest pricing information.
Shopping for a sports car this weekend?
Bring along CarGurus’ mobile app to help check prices, find good deals, and research cars on your smartphone.