Many Brands Don’t Make Major Changes Year-to-Year

There’s an obvious reason to consider a 2020 or 2019 truck: Depending on the manufacturer, it’s likely the same as the 2021 model. Newer vehicles often have minor updates year-to-year, but complete redesigns are rare. Even when a manufacturer introduces a totally new model, it’s likely to have similar features to something that’s already on the market.

Smart consumers can compare options from different brands to find the features they want in a new truck. The major manufacturers all offer trucks with towing capacities of up to 20,000 pounds, and popular models have embraced next-generation safety tech like lane assistance and collision alert systems. In other words, if you’re not set on a certain brand, the similarities make comparison shopping much easier.

Dealerships Need to Move Older Models

While last year’s trucks are more or less the same as current-year models, dealerships need space to showcase the latest vehicles. Stock must be constantly refreshed, and when vehicles don’t sell, some dealerships become desperate.

In 2020, truck sales dropped off during the pandemic. According to Detroit Free Press, sales for major brands dropped as much as 49.5 percent in the second quarter of the year. Those numbers recovered slightly in the third quarter, but not enough to clear inventory.

Dealerships have responded by offering unprecedented incentives for buyers. Several launched “Employee Pricing for All" campaigns for end-of-year clearance sales. Other brands have followed suit by offering strong cashback programs and low-interest rates. Buyers who are willing to do the research can find incredible deals on a wide range of trucks, from utility models to luxury vehicles.

Still, some of the best deals are available through local dealerships, which have embraced a new tactic: online marketing.

More Dealerships Are Offering Deals Online

Traditionally, dealerships have encouraged customers to visit their showrooms, where salespeople can make strong pitches, negotiate loan terms, and finish the transaction in a few hours. That’s great for dealerships, but it limits customers' options.

According to the New York Times, the pandemic has forced a huge number of dealerships to move their operations online. Drivers don’t have to visit the physical dealership anymore — they can simply browse, compare options, and purchase new trucks on their own terms.

These factors have created a “perfect storm” buyers' market. By comparing 2020 and 2019 trucks, consumers can find brand-new vehicles at rock-bottom prices. If you’ve ever wanted a new truck — and you’re willing to look at a few different brands before making a decision — there’s never been a better time to buy.

Compare Options Online Before Buying a Truck

Of course, dealerships have adapted quickly. Many of their best offers and incentives can only be found in online ads, particularly for high-demand vehicles like trucks. That means that drivers need to research carefully.

To find bargains, consumers should keep these tips in mind:

• Be flexible. As mentioned earlier, the modern truck market is competitive, and many of the most popular models have similar features. Be willing to look at trucks from several different dealerships.
• Compare all incentives carefully. A 0.0% APR might offer a lower overall price than a hefty cashback bonus. A new truck is a major purchase, so make sure you know exactly what you’d pay for each option.
• Don’t make a quick decision. The internet makes vehicle shopping much easier. Don’t rush a decision after visiting a single dealership’s website.
• Be ready to negotiate. Remember, the listed price for a new vehicle isn’t final, even when you’re shopping online. Many dealerships allow consumers to submit offers through website portals, which can be helpful if you’ve researched competing offers from other sellers.

Generally speaking, the buyers who do the most research will have the most control over negotiations — and they’ll stand the best chance of locking down a brand-new truck at a fantastic price.

Last Year’s Trucks Offer Great Value for Drivers

A brand-new truck is an exciting purchase, which is why many drivers are willing to pay top-dollar for the latest model. However, savvy consumers can take advantage of the market by considering last year’s class, and dealerships offer big incentives to drivers who do their research.

When shopping, remember to compare options from different manufacturers. Purchasing incentives aren’t the same across the board, so you may need to look at a variety of offers to find the best overall value. By staying flexible — and comparing carefully — you can find a brand-new truck with excellent features without paying a premium.