Five of the best new-car deals for Memorial Day
If shopping for a fresh car is on your Memorial Day agenda, along with the annual family barbecue, you’ll find some bargain deals, thanks to holiday promotions by the manufacturers.
Memorial Day is one of the busiest car-buying days of the year, and the U.S. News Best Cars website has put out its list of the best new-car holiday deals. We’ll take a detailed look at five of the most interesting offers.
Another incentive for shopping this Memorial Day is that average new-car loan rates are at their lowest point in three years at Three.42 percent, according to Wallethub.com. However, some of the promotional deals involve not only sizable rebates but zero percent financing for buyers with strong credit ratings.
If you’re shopping for a used car, however, Memorial Day isn’t such a bonanza. iSeeCars.com reviewed forty million used-car sales from two thousand thirteen to two thousand fifteen to see when the most discounted deals were suggested. Memorial Day was near the bottom. Versus the average, it had eighteen percent fewer deals discounted by five percent or more. The best times came later — especially Black Friday after Thanksgiving, when thirty three percent more deals than average were suggested.
In any case, the big discounts out there now are on fresh cars that dealers have too many of. If you’re shopping for such a model, don’t just take the salesperson’s suggest of the price after the rebate. Know your target price by checking Kelley Blue Book’s kbb.com to see their Fair Market Range of average selling prices for a particular trim level. Negotiate toward your target buying price, then apply the rebate being suggested.
Click here for details on five of the best new-car buying and lease deals this Memorial Day weekend.
​Petite car: Hyundai Elantra
The two thousand sixteen Elantra is being suggested with zero percent financing for six years plus up to $1,750 cash back. Or you can lease the Elantra for $169 per month for three years with $1,399 due at signing. Hyundai already has introduced a redesigned two thousand seventeen Elantra, so it’s attempting to clear out the remaining two thousand sixteen models.
Reviewers surveyed by U.S. News praised the two thousand sixteen Elantra for its roomy interior and above-average fuel economy. The base engine with automatic transmission is rated by the EPA for twenty eight MPG in city driving, thirty eight on the highway. The more powerful, optional 2-liter four-cylinder engine, which reviewers choose for better acceleration, is rated twenty four city, thirty five highway.
List prices run from $17,250 to $21,700.
​Sporty car: Dodge Challenger
If you’re looking for a modern muscle car, the Dodge Challenger is being suggested with 0.9 percent financing for three years with $Two,000 cash back. If you choose to use your own lender, you can still get the $Two,000 rebate.
The Challenger comes standard with a Trio.6-liter V-6 engine rated for nineteen MPG in city driving and thirty on the highway. In addition, you can opt for a V-8 rated at sixteen city, twenty five highway.
In addition to powerful acceleration, test drivers surveyed by U.S. News praised the Challenger as being spacious for a car in this class, with supportive and comfy seats.
List prices run from $26,995 way up to $62,495 for the superfast SRT Hellcat version.
​Petite SUV: Ford Escape
The two thousand sixteen Escape is being suggested with zero percent interest for six years and $1,000 cash back.
Reviewers praise the Escape as being one of the most joy to drive among petite SUVs with crisp treating. They also like the well-designed interior and seats, including the rear ones, which are comfy.
The base four-cylinder turbocharged engine is rated for twenty three MPG in city driving, thirty two on the highway. A more powerful Two.5-liter enging is rated twenty two city, thirty one highway.
List prices run from$23,950 to $31,745.
​Large SUV: Chevrolet Traverse
The Traverse is being suggested at zero percent financing for five years plus a $500 Memorial Day bonus rebate.
Reviewers praise this sizable SUV for treating almost like a car and providing a roomy interior and abundant cargo space. U.S. News named it the two thousand sixteen best large SUV for the money. The Traverse comes with a standard V-6 engine which, with two-wheel drive, is rated for fifteen MPG in city driving and twenty two on the highway.
List prices range from $31,205 to $44,145.
​Pickup: RAM 1500
The cash-back champ this weekend is the two thousand sixteen RAM one thousand five hundred pickup, which is suggesting a $9,500 rebate on the Big Horn Team Cab.
This high-end version of the pickup has a list price of $45,475. So that’s a rebate of over twenty percent, and you may be able to negotiate an even lower price. This trim level comes standard with an 8.4-inch touch-screen display and navigation.
Reviewers praise the RAM one thousand five hundred for its well-designed interior and convenient rear seats. The base V-6 turbocharged engine with two-wheel drive is rated for seventeen MPG city, twenty five highway. But choosing a turbodiesel power plant boosts those ratings to twenty city, twenty eight highway.