Savvy Car Buyers May Get Best Deals This Memorial Day Weekend

MCLEAN, Va., May 20, 2015 /PRNewswire-USNewswire/ -- While automakers look to capitalize on the extra shopping time shoppers will have over the three day Memorial weekend, the holiday provides a great opportunity for consumers to score an outstanding deal on a new car or truck. According to NADA Used Car Guide, a trifecta of low interest rate financing, manufacturer-based incentives, and strong trade-in values will help aide vehicle sales.

With the cost of credit still low, just about every manufacturer is offering well qualified (generally a credit score of 740 or better) buyers cut-rate financing for realistic loan terms. Rates of 0% ‒ 1.9% are possible in 60- to even 72-month loan terms. This means buyers will pay relatively little over the lifetime of the loan when financing a new vehicle.

Many manufacturers are sweetening the pot even further by adding generous cash allowances on top of special financing offers. For example, GMC is offering 0% APR for 60 months on its 2015 Sierra 1500 SLT pickup, plus an additional $2,000 cash allowance.

Lease incentives are equally as lavish. Consumers can lease a 2015 Honda Civic LX sedan for just $149 per month, for 36 months, with a down payment of less than $1,900.

Over the past three years, current model new vehicle incentives have increased by an average of 6% on a monthly basis in May, which is the highest of any month, except February. A review of Autodata incentive data shows manufacturers will be equally as aggressive this year ― and not just on low demand or oddball models, either.

Here's a sampling of other notable deals that are in play for the Memorial Day holiday:

• Acura is giving dealers $9,000 in cash incentives to put toward the sale of its underappreciated and technology-rich 2015 RLX sedan.
• Chevy is putting $7,500 in cash incentives on the hood of 2015 Chevrolet Silverado models. Chevy is also giving 15% gash back on selected models that have been in stock the longest; as an example, this could mean up to $4,056 in cash savings on the brand's Equinox compact utility.  
• Ford buyers who finance through Ford Credit can elect to defer their first payment for up to 90 days. The offer is good on any new light-duty Ford model, including the redesigned 2015 Mustang and F-150 pickup. Buyers can choose to save the cash, or put it toward summer vacation plans.
• Hyundai is offering 0% financing for up to 75 months on the handsomely redesigned 2015 Sonata sedan. Similar to Ford, Hyundai is also offering a 90-day deferred payment option on all of its models.
• Mazda is offering a 1.9% special finance rate for 72 months on 2015 Mazda3 and Mazda6 models. Both models underwent complete redesigns just a year ago, carry excellent visual appeal and their driving dynamics are among the best in class.

With trade-in values still strong, interest rates incredibly low and gasoline prices $1 lower than last year, shoppers will have a tough time finding better conditions to buy new.

Consumers should check with their local dealer to confirm incentive details.

Shoppers can go to NADAguides.com for helpful vehicle shopping tools, such as reviews, new and used vehicle prices, dealer quotes, incentives and rebates for all major makes and models.

To stay up-to-date on the latest trends occurring on dealer lots, trade-in values, and new vehicle news, visit the NADA Used Car Guide blog at NADA.com/usedcar.

About the NADA Used Car Guide
Since 1933, NADA Used Car Guide has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the United States and worldwide. NADA's editorial team collects and analyzes over 1 million combined automotive and truck wholesale, and retail transactions per month. Its guidebooks, auction data, analysis and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. Visit nada.com/b2b to learn more.

Contact:
Ryan Morris
Sr. Manager, Public Relations
NADA Used Car Guide
202-431-2526
[email protected]

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SOURCE NADA Used Car Guide

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