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If you are in the market for a new minivan you might be wondering exactly how much it will set you back. Although minivans used to be quite inexpensive over the last few years the sale prices have increased dramatically.
While Dodge used to offer a low-priced minivan model they have now discontinued that option.
So how much will the average minivan set you back?
The average cost for a new minivan is currently $35,000-36,000. There is only one new model with a sale price lower than that is the Kia Carnival. All other new minivan models have a starting price of $36,000-$37,000.
The current minivan models that are on the market (in new condition) have a base starting price of
- Chrysler Pacifica: $37,020
- Toyota Sienna: $36,135
- Honda Odyssey: $37,490
- Kia Carnival: $32,900
- Ford Transit Connect Wagon: $35,600
There are many different factors that will affect the total sale price that you will spend on a new minivan. Although these are the starting prices for the current model prices most of the time you won’t be paying that price as many models will have features that will increase that price substantially.
So, let’s dive in and explore the ins and outs of minivan prices.
The current average price of a new minivan:
First things first, let’s talk about what you can expect to pay for a base model brand-new car. Based on the sale prices of the current model year minivans the average price for a new minivan is currently $35,886.
Of course, this number can vary depending on the make and model of the car you’re interested in. For example, a high-end minivan from a luxury brand might set you back closer to $50,000, while a budget-friendly option from a more economical brand is closer to $32,000.
It’s also worth noting that the average minivan sale price is significantly lower than the average price of other types of vehicles, such as SUVs or pickup trucks. So, if you’re in the market for a family-friendly ride but don’t want to break the bank, a minivan might be the way to go.
That being said, car sale prices have been on the rise in recent years, due in part to rising production costs and the increasing popularity of features like advanced safety systems and in-vehicle entertainment. So, if you’re shopping for a minivan, it’s a good idea to keep an eye on trends and be prepared to pay a bit more than you might have in the past.
Cost Of A Honda Odyssey
The going rate for the Honda Odyssey minivan is $37,490 and it can go up to $49,500 for the most expensive trim level. So although the price range of the Honda Odyssey is quite large you can get one for below 40k if you choose the EX (the lowest trim level) and the dealership you purchase from doesn’t try and tack on a bunch of extra fees.
Cost Of A Toyota Sienna
The Toyota Sienna has a base pricing of $36,135 but the sale price of the different models and trim levels ranges from $36,135 to $51,605. You certainly get a lot of features and extra tech with the extra 15k that you have to spend for the most expensive models but unless you have money burning a hole in your pocket that extra 15k likely isn’t worth it for most consumers.
Cost Of A Chrysler Pacifica
The Chrysler Pacifica currently has a base pricing of $37,020 but if you get a top-of-the-line model you can spend up to almost $50,000 on one of these minivans. Of course, you will get far more with a 50k Pacifica than you will with a 37k one but either way, you will get a pretty nice car!
Cost Of A Ford Transit Connect
The Ford Transit Connect is far from your normal minivan but in regards to the sale price, it is actually quite close. The Ford Transit Connect Wagon has a starting price of $35,600 but can go up to $40,940. Of course, exactly how much you pay will depend on whether you add any options to the vehicle or not but either way it is considerably cheaper than the more luxurious minivans mentioned above.
The order of the minivans above isn’t our car ratings as all of the different models have pros and cons including fuel economy, price, cargo capabilities, etc. but I wanted to give you a general idea of what you could expect to pay for these cars. I should also mention that this is just the starting MSRP and they will go up or down depending on if there is a sale, if the car is a hybrid, and if the dealer has extra charges that they try to tack on to the vehicle.
Factors that can affect a minivans price
Now that we’ve established the baseline for these vehicle prices, let’s delve into some of the factors that can impact the cost of a particular car.
One major factor is the features and options that a minivan offers. For example, a vehicle with a sunroof, leather seats, and a premium sound system will be much more expensive than a bare-bones model with basic features.
The same goes for advanced safety systems like adaptive cruise control and automatic emergency braking, which can add several thousand dollars to the price tag.
Another factor to consider is the trim level of the vehicle. Most minivan models offer multiple trim levels, each with its own set of features and options. A higher trim level means a higher price, so it’s important to think about which features are most important to you and choose the trim level that best fits your needs and budget.
Finally, the demand for a particular car model can also affect its sale price. If a minivan is particularly popular, dealerships may be able to charge a higher sale price due to the strong demand.
On the other hand, if a specific car model is struggling to find buyers, dealers may be more willing to offer discounts in order to move units off the lot.
The pros and cons of purchasing a new versus used minivan:
Okay, so we’ve talked about the cost of new minivans. But what about used minivans? After all, purchasing a used vehicle is often a more budget-friendly option.
There are certainly some benefits to buying a used car.
For one, you’ll save money upfront by not paying for the full cost of a new vehicle. You may also be able to find a used minivan with features and options that would be out of your price range if you were buying new.
On the downside, buying a used car also comes with its own set of risks.
For one, there’s no way to know for sure how the previous owner treated the vehicle, so you could end up with a minivan that has a lot of wear and tear or is in need of expensive repairs. Additionally, used minivans may come with a shorter warranty or no warranty at all, meaning you’ll be responsible for paying for any repairs out of pocket.
Another consideration is the long-term cost of ownership. While a used car may be cheaper upfront, it may end up costing you more in the long run due to higher maintenance and repair costs.
On the other hand, a new minivan will likely come with a longer warranty and may require fewer repairs in the first few years of ownership, which could save you money in the long run.
Ultimately, whether you choose to buy a new or used minivan comes down to personal preference and your individual circumstances. If you have a limited budget and are comfortable with the risks of buying used, a used car might be the right choice for you.
However, if you’re willing to pay more upfront for the peace of mind that comes with a new vehicle, a new minivan may be the better option.
Tips for finding the best price on a minivan:
Okay, so you’ve decided that a minivan is the right vehicle for you and you have a rough idea of how much you’re willing to spend. Now it’s time to start shopping for the best deal.
Here are a few tips to help you find the best price on a minivan:
- Do your research: Before you start shopping, take some time to research the different minivan models and trim levels that are available. Look for car rankings, reviews, as well as other advice, and compare prices from different auto sources to get a sense of what you can expect to pay.
- Shop around: Don’t just stick to one dealership or seller. Shop around and compare the sale prices from multiple sources to ensure you’re getting the best deal.
- Consider negotiating: Don’t be afraid to negotiate with a dealership or private seller to try and get a better price. Remember, they want to sell the minivan just as much as you want to buy it, so it never hurts to try and haggle even if they say they can’t go any lower than the sale price
- Look for discounts and incentives: Many automakers offer discounts and incentives off the sale price on new minivans, such as cash-back offers or financing deals. Keep an eye out for these promotions and see if you can use them to your advantage.
- Don’t rush: Don’t feel like you have to make a decision right away. Take your time and do your research to ensure you’re making the best choice for your budget and needs.
Financing options for minivan purchases:
Once you’ve found the perfect minivan and negotiated a sale price, it’s time to start thinking about how you’ll pay for it. There are a few different financing options available, including loans and leases.
Here’s a quick overview of each:
- Loans: A loan is a type of financing in which you borrow a certain amount of money from a lender (such as a bank or credit union) and pay it back over a set period of time, usually with interest. When you take out a loan to finance a minivan, you’ll make monthly payments to the lender until the loan is paid off.
- Leases: A lease is a type of financing in which you pay a set amount each month to use a minivan for a predetermined amount of time. At the end of the lease term, you’ll either have the option to purchase the minivan outright or return it to the leasing company.
There are pros and cons to both options. Loans offer the advantage of owning the minivan outright, which can be a good choice if you plan on keeping the vehicle for a long time. However, loans also usually come with higher monthly payments and require a down payment.
Leases, on the other hand, usually have lower monthly payments and may not require a down payment. However, you’ll never actually own the minivan, and there may be mileage limits and other restrictions.
When it comes to financing a minivan, it’s important to shop around and compare rates and terms from multiple lenders. You may also want to consider working with a financial advisor or automotive financing specialist to help you find the best option for your budget and needs.
Well, there you have it: a comprehensive look at the average minivan price and all the factors that can impact it. I hope this article has been helpful and gave you a better understanding of what to expect when shopping for a minivan.
Remember, the most important thing is to do your research and shop around to find the best deal for your budget and needs. Whether you choose to buy a new or used minivan, there are plenty of options out there to suit your needs and budget.
And as always, don’t forget to have a little fun while you shop. After all, buying a minivan is a big decision, but it doesn’t have to be a stressful one.