Memorial Day weekend historically comes with some of the best new car deals, and 2020 is shaping up to be an even better deal for consumers. As dealers try to dump inventory piled up from the coronavirus pandemic and automakers usher in 2021 models to kick off the summer sales season, there are plenty of tempting new car deals.
While automakers are starting to roll back some of the incentives offered in the most uncertain times of the pandemic, such as no-interest loans for 84 months, many automakers still cover the first few months payments as well as low- to no-interest loans. And cash back is making a comeback, too. Here’s a look at the best deals assembled by our partners at Cars Direct. Keep in mind, incentives and discounts vary by region and usually don’t apply to every vehicle made by an automaker.
Also, the best deals will likely be on 2019 trucks and crossover SUVs, with those vehicles discounted more than 15%, according to Edmunds. Dealers are still trying to move 2019 models, which represent one out of 10 vehicles on dealer lots.
Ford
Cash back: $ 500 military discount; up to $ 3,000 on select vehicle trims, such as Explorer XLT.
Financing: 0% for 72 months; 2019 Ranger and 2019 Mustang Bullitt are 0% for 84 months.
Mazda
Cash back: Up to $ 500 in certain regions; $ 1,500 discount for current Mazda owners.
Financing: 0% interest for 60 months and Mazda covers the first three months of payments on certain vehicles.
Toyota
Financing: 0% interest for 60 months on 2020 RAV4, Camry, and Tacoma.
Lexus
Financing: 0% interest for 60 months on all models.
Fiat Chrysler Automobiles
Cash back: Some Jeep models come with up to $ 3,750 cash back incentive or employee pricing, which is 5% off sticker + $ 200.
Financing: 0.9% interest for 84 months, or 0% for 72 months and Mazda covers the first three months of payments on certain vehicles.
Cadillac
Cash back: Up to $ 1,000 in certain regions; the 2020 XT4 compact crossover comes with a $ 1,500 rebate as well.
Financing: 0% for 60 months or 0.9% for 72 months.
Chevy, GMC, Buick
Cash back: $ 4,750 for the Chevy Bolt EV.
Financing: 0% for 84 months on some Chevys, and most GMC and Buick vehicles.
Honda
Cash back: Up to $ 500 for health care workers.
Financing: 2.9% interest for 72 months on certain vehicles, and $ 0 down lease offers.
Hyundai
Cash back: Up to $ 1,000 for military and first responders, including health care workers and spouses. This applies to Genesis models as well.
Financing: 0% for 84 months.
Most of these deals expire June 1.
