The Best Deals on Fuel-Efficient Cars

Everyone is running around looking for the most fuel-efficient cars on dealers’ lots right now. There may be news of sales slumping, but the cars that get high mpg are selling briskly. That doesn’t mean, however, that there aren’t deals to be had. Here’s a quick rundown of the available cash back we could dig up. You can check more deals on Cars.com’s Incentives page. As always, we need to remind readers to check our site and the manufacturer’s site for specific deals in their areas, which may vary. The numbers below are either national or the best available regional offer. Most deals end June 30. Note that many mileage figures are for manual transmission models.

2008 Chevy Aveo: $500 cash back
MPG: 24/34 city/highway
MSRP: $12,170
Percent off MSRP: 4.1%

2008 Chevy Cobalt: $2,000 cash back for all models besides SS, which gets $1,000 cash back
MPG: 24/36 city/highway
MSRP: $14,410
Percent off MSRP: 13.9% (base), 4.5% (SS)

2008 Ford Focus: $1,500 cash back ($1,000 cash back + $500 financing cash in some areas)
MPG: 24/35 city/highway
MSRP: $14,395
Percent off MSRP: 10.4%

2009 Hyundai Sonata: $1,500 cash back
MPG: 21/32 city/highway
MSRP: $18,120
Percent off MSRP: 8.3%

2008 Hyundai Accent: $1,000 cash back
MPG: 27/32 city/highway
MSRP: $10,775
Percent off MSRP: 9.3%

2008 Hyundai Elantra: $1,500 cash back
MPG: 24/33 city/highway
MSRP: $13,625
Percent off MSRP: 11%

2008 Kia Optima: $3,000 cash back
MPG: 21/31 city/highway
MSRP: $16,355
Percent off MSRP: 18.3%

2008 Kia Spectra/Spectra5: $2,000 cash back
MPG: 23/30 city/highway
MSRP: $12,895
Percent off MSRP: 15.5% (Spectra), 12.5% (Spectra5)

2008 Nissan Sentra: $1,500 cash back
MPG:  25/33 city/highway
MSRP: $16,040
Percent off MSRP: 9.4%

2008 Nissan Versa: $1,000
MPG: 26/31 city/highway
MSRP: $12,880
Percent off MSRP: 7.8%

Comments

[LM]

These are some mighty impressive incentives...or some mighty crappy cars. Note how the Hondas and Toyotas are missing from the list.

[Dave T]

LM,
I think we have best bets in there too! The Versa, Sentra, Elantra and Focus are all fine cars for the money. Best on there is the 2009 Sonata. Currently the most efficient midsize sedan on the market.

[LM]

I guess people still aren't willing to pay up for some models, while other fly off the shelves sans-incentives.

[markt]

LM, this is an automotive industry website. its not the honda and toyota show. people actually do buy some of the cars listed.

[LM]

I'm not saying they don't, I'm just saying that they shouldn't need these kinds of incentives with gas over $4/gallon. Toyota and Honda provide incentives as well, but they are not happening now with $4 gas, so I wonder why buyers are knocking the doors down to buy Accents.

[Dave T]

LM,
Sales of almost every one of the models above are UP. It's the end of the 2008 model year though so dealers need to clear lots to sell 2009s. This happens every year. It just happens this year the fuel efficient models are "in."

[LM]

Even so - with the dearth of relatively efficient cars in our market, even old models should not need incentives. I mean, used Prius's are selling for more than new ones.

LM,
Sorry to "bust your bubble", but there are rebates on plenty of toyotas, including the almighty Camry- $1,000; and honda has some special aprs. According to this website.

Broq

[Maxwell]

Toyota and Honda ARE providing incentives. They are in the form of low financing rates or leases.

Toyota is offering Zero percent financing on the Corolla for 3 years, 1.9% for 4 years and 2.9% for 5 yrs.

They're offering 2.9% on Camry.

Honda is offering, for Civic, 1.9% for 3 yrs. and 2.9% for 5 yrs. For Accord they're offering .9% for 3 yrs. and 2.9% for 5 yrs.

[Dave T]

LM,
I'm not sure what you're saying. that because people are crazed for high mileage vehicles there should be more demand, less need for incentives? Probably true in most industries but the economy as a whole seems to be going in the crapper with overall car sales down over 15% this year so far. Car makers just want to make sure if you're shopping for an efficient car you're going to look at THEIR efficient car instead of a honda or toyota. I mean if you can get into a Versa for less than a Yaris?! I'd highly recommend it.

[Keith]

The point of this blog is "The Best Deals on Fuel-Efficient Cars", not "Why Do Manufacturers Offer Incentives." If a consumer wants to go out and spend a premium on a used Prius then more power to them. But if a consumer wants to find the best current deals on fuel-efficient cars then they can read this blog and find out.

[J]

Reason why Civics has worse interest rate than Accord is because Honda is not worried about the Civic getting off from their lot.

[Amuro Ray]

Dave T., I think mpg for the Versa is incorrect. Nissan lists it as 27/33 based on new EPA guideline.

Is the Versa selling pooly and hence big cash back? Don't think so. It's actually a great seller in Nissan, but u know, now that the 2009 has arrived, that's why you see this sort of rebate. A more "appropriate" $ reflection on the truValue cost is to go to the dealer - here in W. Coast, a mark up of $2-3K on Versa is very typical!

[Amuro Ray]

1 more thg - if u are a college graduate (Bachelor, Master or Ph.D), you get add'l $500 cash back...wonder if the $1000 already includes that.

And if you work for Nissan or your company has working relationship with Nissan, make sure you use the employee purchasing plan. I bought a 07 Fully Loaded H/B SL Sport - just arrived the dealership with all the plastics wrapping still on and 5 mi on odo with taxes and everything - less than $18K (for ref, the std SL starts at $15500 before all taxes and fees). That sure was a better deal than that.

[J]

Amuro,

Just check with Honda, their grad program includes Assoc. Degeee.

[MarkS]

The Sonata is classified by the EPA as a large car; with automatic the fuel economy estimate is 22/32. The midsize Altima gets 23/31 with CVT and that is probably best in the midsize class with automatic.

Don't write off Hyundai as second best to Toyota and Honda. The Elentra was just ranked #1 by Consumer Reports. The Sonata now has a decent quality reputation.

[Amuro Ray]

I wasn't too clear on my last post. I bought my 07 just a month before the 08 came out. Moreover, I asked the dealership if they have the color that I want - they have everything - except the color, but they found another dealership that has the color too, so dealer trade is possible. However, since I was already using the Employee Purchasing Program, that means,
(1) their markup of $3000 on the Versa is like - forget it! (Thx Nissan HQ :) )
(2) $500 (Nissan Rebate) + $500 (Nissan Finanace Rebate if I do finance with them @ 0.7% - a fool not to do it, and I have extremely good credit so 0.7% is np) + $500 recent grad rebate (1.5 yr b4 and 2 yr after graduation qualifies) = $1500 off cash rebate
(3) Employee discount of about $800 (it's % - on a cheap car, the $ amount won't be too high).
(4) Employee discount - all the above are discount on the INVOICE, not MSRP.

As you can see, I'm already getting a $2300 discount on a ~$17500 vehicle. That's over 10% discount. Let me tell u, on an entry model car, Nissan makes ~ $600-800 profit, so I'm already getting the car at a loss to Nissan (but not dealer). Well, dealer trade definitely = loss to dealer. So dealer offered me another $400 discount!

$2700 off on a $17500 vehicle? And dealer was actually selling it for $21000 (they put $3500 markup on the Versa thx to gas prices). That's really unheard of!

I got out of door with everythg - less than $17500.

Point of this story? MAKE SURE YOU CHECK CARS.COM AND ALL DEALERSHIP'S WEBSITE FOR THE BEST $$$ U CAN GET OUT OF A VEHICLE, 'COZ AFTER ALL, - IT'S UR $$$$$$$$$$

[J]

Just how many times we have to say this?

When did quality begin to related with reliability?