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The Subaru Outback Is In Uncharted Waters Now

Who would have believed the 2024 Subaru Outback would be one of the most discounted new cars? It's true. Find out what's happening now with one of Subaru's most popular SUVs.

Are you looking to purchase a 2024 Subaru Outback? If so, you'll want to read this and find out what's new with Subaru's popular midsize SUV. Recently, Consumer Reports (by subscription) updated its data on the most discounted new cars you can buy now. It’s a surprise to me that the Outback is now on the list.

It's hard to believe that the Outback is selling below sticker price or the manufacturer's suggested retail price (MSRP), as it's called. Previously, the Outback would sell for MSRP or slightly above for some trim levels and significantly more than MSRP for the Outback Wilderness. 

Things Are Changing

MSRP is the price at which Subaru advertises its vehicles, and it is visible on the window sticker of every new car. Subaru of America suggests that its dealers charge this price for their vehicles. The actual selling price may be higher or lower than the MSRP, depending on supply and demand for the specific vehicle. And that's what is changing now. 

Subaru's new model inventory has been increasing this spring because of two main reasons.

  1. Subaru of Indiana Automotive, where the Outback is manufactured, has produced more new models than last year. You'll see more Outback models on Subaru retailers' lots now. Supply is up.
  2. Because banks are charging higher interest rates for new cars, fewer buyers can afford them. Demand is down, so Subaru of America offers the Outback at attractive interest rates and terms. 

How Much Can You Save On The Outback?

Consumer Reports says the Outback is among the ten most discounted new cars selling under the MSRP. CR says the average savings off the MSRP is $2,056. The best deal is on the 2024 Subaru Outback Touring XT AWD. 

Consumer Reports says, "For the (Outback) analysis, we looked back at recent transaction data from TrueCar, a CR partner, to see where people are finding significant savings off the sticker price on 2024 models."

2024 Subaru Outback

  • Price Range:  $28,895 - $42,795
  • CR MPG:  Overall 24 / City 16 / Hwy 32 mpg
  • #2 of 17  Midsized SUVs

2024 Subaru Outback Touring XT AWD

MSRP: $42,795

  • Average savings off MSRP: $2,056
  • Average transaction price: $40,739
  • The Outback Is In Uncharted Waters Now

By that, I mean it's not typical to see the popular Outback, Subaru's third-best-selling car, discounted so heavily. On Subaru's website, the 2024 Outback Limited-time offer is displayed prominently at the top of the first page. That's how much things have changed. 

Subaru says, "Now through May 31, 2024, get 2.9% APR Financing for 72 months on a new 2024 Outback. This is a manufacturer's (Subaru of America) offer. No down payment is required."

CNN says the average new care interest rate now is 5.64% if you have a FICO credit score between 781 and 850. It's 7.01% with a score of 661 to 780. It's 9.6% with a score of 601 to 660. And it's 12.28% for a score between 501 and 600. 

How can Subaru offer such a low interest rate? 

Subaru of America is buying down the rate through a deal with JPMorgan Chase Bank. Chase is Subaru's auto financing and leasing lender through the Subaru Motors Finance (SMF) program. 

With that said, you do need to have a good credit score to qualify for the special Outback and other model offers. Subaru says, "Financing for well-qualified applicants only. The length of the contract is limited. Subject to credit approval and vehicle insurance approval." 

More Subaru Special Offers

And it's not just the Outback. The Solterra is the model that tops the CR list. Customers can now get 0% percent financing for 72 months on a new 2023 or 2024 Solterra EV. Subaru even says no down payment is required. 

Subaru Wants To Move The 2024 Forester Before The Next-Gen Model Arrives

Subaru of America offers 72-month financing on the hot 2024 Forester compact SUV at a low 2.9% APR. No down payment is required. If you put down $2,760, the payment is $319/month for 36 months. 

For reference, I've included Consumer Report's list of the most discounted new cars in order of the most discounted model. Notice that two Subaru models make the list for the first time. 

  1. Subaru Solterra: 7% Off
  2. Alfa Romeo Giulia: 6% Off
  3. Volvo XC40: 6% Off
  4. Buick Enclave: 6% Off
  5. Alfa Romeo Stelvio: 6% Off
  6. Mercedes-Benz C-Class: 6% Off
  7. Volvo S60: 5% Off
  8. Subaru Outback: 5% Off
  9. Alfa Romeo Tonale: 5% Off
  10. Toyota Crown: 5% Off

How Low Can Prices Go?

CR says, "Of course, you may be able to negotiate an even lower price, but bear in mind that there's a limit to how low prices can go, especially as demand sometimes outstrips supply these days."

As I wrote in a previous story, Subaru is experiencing a perfect storm that is benefiting buyers of the Outback and other new Subaru models. 

Now It's Your Turn

Are you ready to pull the trigger and buy a new Subaru Outback? We want to hear from you. Click the red Add New Comment link below.

I am Denis Flierl, a top Torque News reporter since 2012. I’ve invested over 13 years in the automotive industry in a consulting role, working with every major car brand. I am an experienced Rocky Mountain Automotive Press member. You'll find my expert Subaru analysis here. Follow me on my X SubaruReportAll Subaru, WRXSTI, @DenisFlierlFacebook, and Instagram.

Photo credit: Adventure Subaru


Nicholas (not verified)    May 17, 2024 - 9:11AM

Pulled the trigger the last day in April as my lease was up. Although my dealership didn’t have the exact car that normally get with our options. They did find one with our options at another dealership. So with a dealership trade and additional 1 option that they added. Got the car that we wanted. Colour, options and $3,500 under MSRP.

Mike (not verified)    May 17, 2024 - 4:07PM

In reply to by Nicholas (not verified)

I picked up a 2024 Forester Premium on 3/29 for 3,500 below the MSRP and Even got a 6% rate which was VERY good considering my credit score (yeah I know... I am working on that.) Love the car! Also traded in my 2019 Sonota SE, Theta II engine, kia boy target POS definitely wasn't going with another Hyundai after that experience... Thanks Subaru it's great to be back in one!

Dirk Niles (not verified)    May 17, 2024 - 8:29PM

Paid $4,300 under invoice for a 2024 Outback Touring on the last day of April. A dealer started the fun by offering me $3,000 under invoice. Once I realized I was in a feeding frenzy I tracked down the exact vehicle my wife wanted and made what I thought was an unreasonable offer. Was surprised they accepted (but that was before this article!)

Carleton (not verified)    May 17, 2024 - 10:24PM

I needed to replace my 2015 Outback. I would have purchased another Outback, but Subaru does not have a valid hybrid or PHEV. I didn't want wait a year for a Forrester hybrid, so I went with a Rav4.

Rich Meyer (not verified)    May 18, 2024 - 11:48AM

I’ve owned 7 Subarus and loved the Outback but I recently sold mine. Subaru is way behind the curve in implementing new technology plus I was tired of the road noise in my Wilderness. The 25 Outback is unchanged and word is the redesigned 26 won’t have any major interior upgrades. The head unit desperately needs to be changed. I see more and more former Outback owners as well.

Michelle Laprade (not verified)    May 18, 2024 - 7:09PM

A little confusion here. If the financing is for 72 months why does it state $319 for 36 months after placing a down payment of $2760...

Darren F (not verified)    May 21, 2024 - 6:09PM

Be careful with the Subaru they have an issue with the temperature control valve. Subaru just extended the warranty to 10 years. My understanding is the XT models which are turbo are not affected.

Bob Whittle (not verified)    May 22, 2024 - 9:37AM

I presently own a 2019 Subaru Legacy Sport that i purchased new in August 2019. It is paid off and in excellent condition, but……..I need to acquire a sub to accommodate a Victory 10 Pride Scooter that is provided to me thru the Va due to mobility issues.
My legacy carry weight is slightly low to accommodate my scooter.
Will an Outback carry the weight inside the vehicle and if not, what would be a good alternative vehicle to purchase. My FICA score is high so no problems there in searching for best deals.

Peter Berk (not verified)    May 30, 2024 - 11:32AM

Indeed. I bought a ‘24 Outback Limited XT in mid April. One dealer knocked $4K off the sticker and the car was still in transit (bronze metallic). The second dealer had the car in stock in the color I wanted and added $500 to the discount and didn’t charge me for the dealer add-ons (window tint and locking lug nuts).

The only ask, “Would I be willing to finance some of the purchase price through Subaru financing?” At 1.9% I said that was an easy decision….I could leave my money in a money market paying 4.25%.