If you’re looking to buy a new SUV, there are two reasons why now may be a great time to start shopping just in time for massive price drops for this spring.
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“Two forces are driving this — first, EV inventory has climbed roughly 14%, pushed by the federal tax credit expiring and cooling consumer demand, which is forcing dealers to offer bigger incentives just to move units,” according to Andrew Lokenauth, founder of the blog Fluent in Finance. “Second, this is the classic spring inventory cycle. New model years are hitting lots and dealers need floor space.”
Jeep Wagoneer
“Jeep’s full-size SUV is offering a major cash back incentive this spring,” said Melanie Musson, an auto industry expert with AutoInsurance.org. “Electric models can earn buyers up to $15,250. But even gas-powered Wagoneers offer cash-back incentives, though not as high. Those incentives make the well-designed Wagoneer an excellent competitor to other SUVs in its class.”
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Ford Explorer
The Ford Explorer offers up to $3,500 cash back in March, making it an excellent time to buy, according to Musson. The 4WD option makes it a great choice for people looking for a vehicle that can handle tough road conditions, she noted.
Cadillac Lyriq
The Lyriq is supposed to be cheaper this year. There are other EV SUV models that are now in the category. So GM is reducing the price to make the Lyriq more appealing.
Honda Pilot
The Honda Pilot is cheaper to buy as a lease due to the vehicle retaining its value longer, according to Chris Pyle, an auto expert and mechanic on JustAnswer. That results in the lease payment being less, because you are not having to keep up with depreciation as aggressively, Pyle noted.
Hyundai Ioniq 5
According to Pyle, the Ioniq 5 is dropping the price by about $5,000 to $6,000.
“Since the EV tax credit is going away, they’re dropping the price,” Pyle said. “Yes, car manufacturers actually raised EV prices the same amount as the tax credit. Now that the incentive to buy is gone, you’ll likely see other EVs also dropping in price.”
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This article originally appeared on GOBankingRates.com: 5 Reliable SUVs That Will Have Massive Price Drops in Spring 2026
