Memorial Day weekend is historically one of the best times consumers can get great deals on new cars. Nearly every automaker will be offering deals over the holiday weekend, usually in the form of low APR financing, cash back incentives and special leasing offers. Additionally, many manufacturers honor military service men and women by offering additional military discounts. Consumers, even those with damaged credit, could score an offer worth up to thousands of dollars off of a new car.
Timing and Car Buying
A favorite topic of discussion for car deal seekers is when the best time to buy a car is. While this ongoing debate has never been "solved" or universally agreed upon, most in the know agree that Memorial Day weekend happens to be a great weekend for new car buying.
While it may not be the best time for used car shopping, Memorial Day weekend is historically one of the strongest new car sales weekends of the year. There are several reasons why:
- It occurs at the end of the month: Many franchised dealerships get bonuses from the manufacturer they represent after reaching certain sales goals. The majority of these goals have to be met by the end of the month. Dealers often do what they can to surpass these quotas, making them more likely to strike a deal as the month winds down.
- Next year's models are coming soon: Dealerships also have extra incentive to clear inventory because the majority of the next year's models now hit showrooms between summer and fall. This means that consumers can target brand new "leftover" inventory from the current year to find the best deals.
Memorial Day weekend car sales are a cornerstone of the car shopping calendar, with many of the major automakers offering up sizable military discounts, low APR offers, lease deals, and cash back incentives. Consumers could save some serious cash if they shop wisely in the days and weekends surrounding the holiday.
Best Memorial Day Deals 2016
The special deals offered around Memorial Day weekend can mean big savings on a new vehicle. Here are some of the top deals available to the general public this Memorial Day weekend:
- Chevrolet: For their Memorial Day Sales Event, Chevy is offering zero-percent financing and $500 or more in bonus cash on three popular 2016 SUVs: the Trax, Equinox and Traverse.
- Ford: Ford is offering some good lease deals, zero-percent financing, and $1,000 Smart Bonus cash back on many 2016 models, including the Focus, Fusion, Edge, Escape, and Explorer.
- Volkswagen: VW has zero-interest offers on many popular models, as well as $1,000 in Memorial Day bonus cash. The discounts are available on 2016 models such as the Jetta, Tiguan and Passat.
Many more automakers are offering their own discounts, so ask your dealer about theirs.
Credit-challenged consumers may be able to qualify for many these great new car deals this Memorial Day. Even people operating on a tight budget should be able to comfortably afford several of the cars listed above, especially after discounts are factored in.
Top Memorial Day Military Discounts 2016
Many automakers also honor active duty, veteran, and retired U.S. service men and women with a slew of special military discounts around Memorial Day weekend. Oftentimes, the deals are available to their spouses as well.
Here are a few of the top Memorial Day military discounts available in 2016:
- General Motors: GM is offering "Supplier Pricing" on eligible new Chevrolet, Buick and GMC vehicles in addition to any current incentives until May 31st.
- Ford: In addition to current incentives, Ford is offering a $750 military bonus until July 5th.
- Hyundai: Hyundai has doubled its traditional military incentive and is now offering a $1,000 discount until May 31st.
- Toyota: Toyota is offering a $500 military bonus in addition to current incentives until July 5th, but only to those who take out a loan or lease through Toyota Financial.
Again, many other manufacturers have discounts of their own, so make sure to ask your dealer about theirs.
Auto Financing Made Easy
Whether you are an eligible military member or not, there are plenty of terriffic 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. To get started, all you need to do is complete our free and easy online application.