Jeep Renegade, FIAT 500X Get First Cash Rebates in Late July

By

Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website

, Senior Pricing Analyst - July 23, 2015

Crossovers may be all the rage, but a growing subset of models featuring compact designs is making its way onto dealer lots. In particular, the 2015 Jeep Renegade and 2016 FIAT 500X, which share the same platform, were built to satisfy a demand for versatile, fuel efficient small crossovers. However, a slow launch and inflated inventory levels have already resulted in factory discounts in late July. Here's what you need to know.

Deal overview

As of yesterday, shoppers considering either the Jeep Renegade or FIAT 500X can now get a $500 factory discount. A low APR offer of 2.9% for 60 months is also available, but ranks a bit poorly in our view given the current low interest rates we've been seeing.

Note that while the Fiat discount can be applied to any trim level, Jeep is limiting the rebate on the Renegade to Sport and Latitude models only. The better-equipped Limited or Trailhawk models are currently only eligible for low APR. The incentives are set to expire August 3, but there's currently no reason to suspect these won't be renewed.

One incentive that doesn't seem to be advertised much is a "lease conquest" incentive worth $1,000. The offer is aimed at current lessees of a competing vehicle and can be applied to either a purchase or lease. Shoppers should be sure to check with their dealer to confirm eligibility.

Read our review of the 2016 FIAT 500X>>

Our take

Adding a $500 rebate so early is a bit of a surprise, especially on the lower-priced models. Small, entry-level vehicles generally carry smaller profit margins and see less discounting. In the case of the Renegade Sport, the difference between the MSRP and invoice price is only $95.

Inventory data shows some unusual signs. As of July 1, there was a 142 day supply of Renegades on dealer lots. Numbers for the 500X are considerably more jarring at 349 days. The industry average is 61 days1. It's unclear to what degree, if at all, the numbers are skewed by a delayed initial rollout to fix issues with the automatic transmissions.

Whether you opt for a trademark Jeep look or unique Italian flair, there's probably a good deal right now at your local dealer. Shoppers looking for a fun small crossover wanting to avoid the premium of the recently-released Honda HR-V may find that now is a good time to buy.

Confirm your discounts on the 2015 Jeep Renegade>>

1Source: Automotive News

Unless specified otherwise, incentives listed here are based on a resident in Southern California. Lease offers are based on top-tier credit and exclude tax, license, title, registration, document fees and insurance. State-level incentives can vary, so please check with your CarsDirect Trusted Dealer to confirm all available offers in your region.

Visit our CarsDirect Pricing Insider page for pricing and deal analyses on hundreds of models. Sign up for email alerts to have our analyses delivered straight to your inbox. Browse our Deals Articles for insider info on the latest new car incentives that can save you money.

, Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website