Memorial Day weekend is historically one of the best times consumers can get great deals on new cars. Many automakers offer deals over the holiday weekend, usually in the form of low APR financing, cashback incentives, and special leasing offers. Additionally, many manufacturers honor military service members by offering additional military discounts.
Even consumers with damaged credit could score an offer worth up to thousands of dollars off of a new car, truck, or SUV. In fact, when you're struggling with less-than-perfect credit it may be easier to qualify for a rebate deal than a low-financing offer when it comes to Memorial Day car deals. Keep this in mind as you shop around this holiday season.
2024 Memorial Day Car Deals
2024 Kia EV9: Bonus Cash Available
Kia is offering a $1,500 "VIN Sticker Bonus" on specially tagged EV9s for the month of May. When you combine this with a loyalty discount, you could get up to $12,000 in savings on some EV9s. Your results will vary, so be sure to rate shop to find an eligible EV9 in your area. If you'd rather purchase your EV9, bad credit borrowers may be eligible for $7,500 in Customer Cash. There are also some low APR discounts, but they can't be stacked with the Customer Cash, so consider seeing what works best for you based on your credit background. Even if you can score the low interest rate, the rebate may be a better deal low-APR financing.
2024 Nissan Kicks: 2.9% Financing + $1,000 Bonus Cash
All 2024 Nissan Kicks SUVs are now getting $1,000 in Bonus Cash. Nissan Kicks rebates are rare, so this is an unusually good deal on the brand's most affordable crossover. This incentive can be combined with lease deals or a 36-month, 2.9% APR financing offer through June 3rd. Per the EPA, the Kicks is rated at 33 mpg and can save buyers $1,500 in fuel over 5 years compared to the cost of a similar vehicle.
2024 Acura MDX: Up To $6,500 Lease Cash
For May, Acura has announced $2,500 in Captive Lease Cash on the 2024 MDX. This is a rebate that you can only get as a qualified lessee. Plus, there's a $2,000 Sell Down Captive Bonus when you finance or lease an MDX through Acura. These discounts can be combined with a $2,000 Lease Loyalty Offer as well. This means you can get up to $6,500 off under the right circumstances. The offer ends on July 1st.
2023 Dodge Challenger: Up To $6,750 Rebate
The 2023 Dodge Challenger features one of the biggest discounts on a car. The Dodge Power Dollars deal gives you $10 per horsepower on select styles. Additionally, according to Dodge, if you purchase a Challenger R/T you can combine $3,750 National Power Dollars Bonus Cash with $3,000 in Bonus Cash in California. That equals $6,750 in savings. Current offers end June 3rd.
2024 Jeep Gladiator: Up To $4,000 Rebate
The 2024 Jeep Gladiator is now eligible for $2,000 in Bonus Cash in the Southwestern US. Additionally, the Gladiator Sport gets an additional $2,000 in Retail Bonus Cash for $4,000 in potential savings. This is one of the better deals we've seen on 2024 Gladiator models to date.
Are There Military Discounts For Buying A Car?
Some automakers up their standard military discounts during the month of May to help show support for the Military community. Many brands already offer a military discount throughout the year including General Motors, Mitsubishi, Honda, Toyota, Ford, BMW, Kia, Lexus, Acura, Nissan, and Subaru.
Best Military Discounts for Memorial Day 2024
- Chevy Memorial Day Military Discount: $1,000 Off MSRP. General Motors recently announced a $500 Military Appreciation Month Cash Allowance that can be combined with its standard military discount of $500. This makes the total discount $1,000 off MSRP for most vehicles. You can also combine this offer with other incentives, including low-interest financing and rebates. GM's additional $500 Military bonus expires on June 3rd.
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BMW Memorial Day Military Discount: Up To $5,000 Off MSRP. BMW offers a Domestic Military Credit of up to $5,000 in savings on vehicles like the all-electric BMW iX. Discounts vary by model and have some unique rules when it comes to stackability. When it comes to getting the Military discount, the 2024 BMW X5 is one of the better deals with $4,000 off MSRP. This program ends on June 2nd.
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Hyundai Memorial Day Military Discount: $1,000 Off MSRP. Hyundai is now offering a "Double Military" discount worth $1,000 on all 2024 and 2025 vehicles in the Miami region. Whether or not Hyundai plans to expand the Memorial Day military discount to other parts of the country is yet to be seen.
Is Memorial Day A Good Time To Buy A Car?
Memorial Day is generally a good time to buy a car. In recent years, the global chip shortage caused new and used car prices to skyrocket, and most auto manufacturers began offering fewer incentives in years past. Then, interest rates went up as well. After the past few years of high prices and modest discounts, things are finally starting to turn around.
In 2024, your biggest challenge may be finding the car you want at a price you can afford since many vehicles are costing more these days, and qualifying for discounts if you have poor credit. Consumers with a history of bad credit may find it more difficult – and more costly – to get approved for a loan on their favorite car, truck, or SUV.
Make no mistake, some brands are offering outstanding deals for Memorial Day. However, many of these holiday car sales require top-tier credit in order to qualify. If you have subprime credit — a FICO score under 670 — the average interest rate on an auto loan may be a lot higher and have an impact on your budget.
Additionally, know that not all brands offer Memorial Day car sales. Under normal circumstances, Subaru doesn't offer rebates or financing deals around holidays. Looking for a deal? Consider focusing on brands with higher inventory levels such as Jeep, Buick, RAM, Chrysler, Dodge, and Ford.
The good news is that there are car dealerships that specialize in helping buyers with less-than-perfect credit. Some brands also have programs for subprime financing all the time, not just around the Memorial Day holiday. For example, Chevy is offering 13.9% APR financing for up to 72 months on the 2024 Malibu, with $1,000 in down payment assistance.
Auto Financing Made Easy
Whether you are an eligible military member or not, there are plenty of terrific deals to be had on new vehicles around Memorial Day weekend. Consumers can not only score a great deal but also take advantage of the many perks of buying a new car, such as warranty coverage.
If you have less-than-perfect credit and don't think you can get approved for an auto loan, think again. Auto Credit Express helps thousands of people every year in all kinds of credit situations find auto financing - and you could be next.
