10 2011 Model-Year Cars With Deep Discounts

published 1 September 2011

It seems as if everything is on sale Labor Day weekend, and cars are no exception. As dealers make way for the 2012 models, they want to move old inventory out. Many are slashing prices and offering sweet financing deals on 2011s.

These ten 2011s were recently selling for the biggest discounts to sticker price , according to TrueCar.com -- and for most models those discounts include generous cash rebates.

Several of the vehicles on our list are discontinued, which makes them less attractive to most buyers, and a few never found traction with buyers in the first place. Dealers should be receptive to even bigger price cuts if you tell them you know that others are getting big discounts.

You can find recent transaction prices for any car on your shopping list at TrueCar.com. Also, compare costs and resale value, see performance data and more from this year's automotive class by viewing Kiplinger's 2011 Vehicle Rankings.

Mitsubishi Endeavor LS

Sticker price: $29,109

Invoice price: $27,915

Average price paid: $22,566

Resale value: 3 years: 33%; 5 years: 23%

MPG: 15 city, 21 highway

In order to focus its efforts on electrification, Mitsubishi discontinued the Endeavor crossover and ended production in August. But dealers still have a few left in inventory. The Endeavor has a roomy interior with 41 cubic feet of cargo space, but fuel economy isn’t great and the 225-horsepower engine doesn’t supply enough get-up-and-go to make up for it. Manufacturer incentives include $4,500 cash or financing as low as 0% for 36-, 48- and 60-month loans.

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Chevrolet HHR LS

Sticker price: $19,440

Invoice price: $18,691

Average price paid: $15,621

Resale value: 3 years: 33%; 5 years: 25%

MPG: 22 city, 32 highway

Chevy’s funky little wagon bows out this year after facing slowing sales and stiff in-house competition from the brand’s Equinox crossover. The selloff will continue until they’re gone, but supply is short, so move fast if you want one. The HHR, like many of the other models on the deep-discount list, has low resale values, but it offers good fuel efficiency and 25 cubic feet of cargo room. Manufacturer incentives include $3,500 cash or financing as low as 0% for 12-, 36-, 48- and 60-month loans.

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Nissan Altima Hybrid

Sticker price: $27,560

Invoice price: $25,876

Average price paid: $22,148

Resale value: 3 years: 39%; 5 years: 26%

MPG: 33 city, 33 highway

The hybrid version of Nissan’s bestseller drops out after the 2011 model year as the company discontinues the hybrid powertrain and battery technology it licensed from Toyota. But the Altima hybrid could be back as soon as 2013, sporting the system that powers the hybrid Infiniti M. In the meantime, if you live in one of the ten states where it’s sold (California, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island and Vermont), you can pick up a green machine on the cheap.

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Dodge Journey Express

Sticker price: $22,995

Invoice price: $22,635

Average price paid: $19,098

Resale value: 3 years: 32%; 5 years: 23%

MPG: 19 city, 26 highway

Buyers have given a cold shoulder to this midsize crossover. But the fundamentals are there -- strong exterior styling and an eye-pleasing interior, spot-on handling and braking, and decent fuel economy. Resale values are low, but if you buy and hold for a long time, that shouldn’t matter. Manufacturer incentives include $2,750 cash or financing as low as 0% on 36-, 48- and 60-month loans.

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Chevrolet Malibu LT

Sticker price: $23,735

Invoice price: $22,586

Average price paid: $19,979

Resale value: 3 years: 39%; 5 years: 27%

MPG: 22 city, 33 highway

When Chevrolet redesigned the Malibu in 2008, it received good reviews (including a Kiplinger Best New Car award), and Chevy finally had a midsize sedan that could hold its own against the Honda Accord and Toyota Camry. Competition has grown fiercer in the family-car space, however, and the Malibu has lost a step as other carmakers introduced strong redesigns. But it’s still among the top ten bestsellers. This price point won’t last long -- the revamped 2013 Malibu goes on sale early next year. Manufacturer incentives include $2,500 cash or financing as low as 0% for 12-, 36-, 48- and 60-month loans. Plus, dealers are eligible for $1,000 cash for making the sale, so you can use that as a bargaining chip.

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Jeep Liberty Sport

Sticker price: $24,045

Invoice price: $23,393

Average price paid: $20,264

Resale value: 3 years: 36%; 5 years: 25%

MPG: 16 city, 22 highway

The Jeep Liberty, like other Jeeps, is known for off-road prowess, but the Liberty gets lost in the sea of compact crossovers. Its 3.7-liter V6 is thirsty, sucking fuel like a much larger vehicle, and the 25 cubic feet of cargo space leaves a lot to be desired for a vehicle of this size (the comparable Honda CR-V has 36 cubic feet). Still, here’s an opportunity to snag a Jeep on the cheap. Manufacturer incentives include $3,000 cash (with an extra $1,000 if you’re new to the brand) or financing as low as 0% on 36-, 48- and 60-month loans.

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Dodge Avenger Heat

Sticker price: $24,590

Invoice price: $23,502

Average price paid: $20,751

Resale value: 3 years: NA; 5 years: NA

MPG: 19 city, 29 highway

With so much competition in the midsize sedan market, the Dodge Avenger hasn’t been able to distinguish itself, and sales have been comparatively meager. But 2011 brought a fresh new interior and exterior to the Avenger, plus revamped steering and suspension. The Heat designation noted above is an option package on the Mainstreet model (TrueCar lists it separately). Manufacturer incentives include $2,500 cash (with an extra $1,000 if you’re new to the brand) or financing as low as 0% on 36-, 48-, 60- and 72-month loans.

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Suzuki SX4 sedan

Sticker price: $14,244

Invoice price: $13,704

Average price paid: $12,036

Resale value: 3 years: 37%; 5 years: 22%

MPG: 23 city, 33 highway

Suzuki can’t seem to get buyers on board, although the SX4 is its best-selling model. The sedan has decent power for a four-cylinder, gets good mileage and boasts eight airbags, including rear side airbags. However, Suzuki prioritizes options strangely -- navigation is standard on the S trim ($17,124), but stability and traction control are unavailable until you move up to the highest trim level, the GTS sedan ($19,644). Manufacturer incentives include $1,250 cash (plus an extra $500 if you’re a returning Suzuki buyer or a recent college grad) or financing as low as 0% for 48-month loans and 1.9% for 60-month loans.

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Chevrolet Aveo5 LS

Sticker price: $12,875

Invoice price: $12,390

Average price paid: $10,929

Resale value: 3 years: 32%; 5 years: 20%

MPG: 27 city, 35 highway

For 2012, Chevrolet is replacing the Aveo with the Sonic, and with its arrival imminent, dealers are cleaning out remaining Aveos. If you’re looking for a wallet-saver, this is it. The average price runs just under $11,000, and the car gets 30 mpg in combined city and highway driving. The bad news: It is underpowered and lacks standard amenities such as air conditioning and anti-lock brakes. Manufacturer incentives include $1,500 cash or financing as low as 3.9% for 12-, 36-, 48- and 60-month loans.

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Nissan Xterra X

Sticker price: $25,070

Invoice price: $23,803

Average price paid: $21,301

Resale value: 3 years: 49%; 5 years: 34%

MPG: 16 city, 22 highway

With gas prices high and truck-based SUVs out of vogue, it’s no wonder the Xterra isn’t finding a big following these days. But if rugged looks are your style and you can spare about three grand a year for gas, this rear-wheel-drive ute delivers plenty of power and 36 cubic feet of cargo space. Manufacturer incentives include $2,000 cash (with an extra $500 if you’re a recent grad) or financing as low as 0% for 12-, 24-, and 36-month loans and 1.9% for 48- and 60-month loans.

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Anderson has been with Kiplinger since January 2004, when she joined the staff as a reporter. Since then, she's covered the gamut of personal finance issues—from mortgages and credit to spending wisely—and she heads up Kiplinger's annual automotive rankings. She holds a BA in journalism and mass communication from the University of North Carolina at Chapel Hill. She was the 2012 president of the Washington Automotive Press Association and serves on its board of directors. In 2014, she was selected for the North American Car and Truck Of the Year jury. The awards, presented at the Detroit Auto Show, have come to be regarded as the most prestigious of their kind in the U.S. because they involve no commercial tie-ins. The jury is composed of nationally recognized journalists from across the U.S. and Canada, who are selected on the basis of audience reach, experience, expertise, product knowledge, and reputation in the automotive community.