Cadillac is desperate to get 2020 Escalades off the dealer showroom floor before the all-new 2021 model rolls in. So desperate, in fact, that it sent an email to current Escalade owners offering up to ten grand off if they trade for the merely new instead of the new new. According to CarsDirect that translates to around $19,000 off MSRP when current rebates are considered.
GM had a similar problem with tail end C7 Corvettes, as dealers were forced to stock inventory levels higher than normal in order to secure C8 Corvette allocations. This left plenty of the older models languishing on dealer lots with huge discounts because the American dealership system of distributing cars is truly broken.
Take, for example, a current 2014-17 Escalade owner. If this person were to trade their car in on a new Escalade, Cadillac would offer them $7500 off the MSRP of a 2020 model Escalade if they wanted to lease, or $10,000 off if they wanted to buy. Add on the current $9,000 rebate available to anyone, and you’ve got a mega price discount.
The 2021 Escalade is built on a new chassis (shared with the new Tahoe, obviously) and is packed with the tech features many luxury buyers are looking for, like Cadillac’s superb SuperCruise driver assistance package. The visual difference between the two model years is instantly apparent, with the all-new looking more in line with the rest of Cadillac’s lineup. Despite only having been in production since 2015, the current model already looks dated.
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The 2020 Escalade starts at $76,490, but can quickly balloon into the six-figures with some choice options. With a bit of bargaining at the dealership level, you might be able to get them to come off a few hundred bucks more, or throw in some options gratis. That’s a lot of truck for, well, still a lot of money, but significantly less.
Luxury is generally synonymous with desirability, right? So which luxury buyers are going to buy something that is currently on the equivalent of a K-Mart Blue Light Special? The frugal ones, I suppose.