Tags: best | time | buy | lease | new car | hidden | incentives

Best Lease or Buying Deals for August

By Monday, 10 August 2020 08:04 AM Current | Bio | Archive

The auto industry continues to roar back from the depths of COVID-19 dealership and plant closures. Sales are lower than last year, but only down a few percent from J.D. Power’s pre-virus forecast. Generous incentive spending by automakers has driven many of those sales. Those great financing and cash back car deals are continuing into this month.

While many of the seven-year zero percent financing deals have vanished, there are still plenty of five- and six-year zero percent offers throughout the marketplace. There are a growing number of massive cash back deals available, as well as car deals that combine no-interest financing and bonus cash.

If you need an auto loan, it's more important than ever to shop around and get a pre-approved offer from a bank, credit union, or another lender. Interest rates are rock bottom right now. Many of the differences in rates are being driven by competition, rather than the Federal Reserve's benchmark interest rates. Lenders are battling for every loan, just as dealers are fighting for every sale.

Finding exceptional new car deals takes some research. You need to know what a good deal is, how to find the best financing incentive or rebate, and how to compare the various options you encounter.

Rebates, Incentives and Lease Deals for August 2020

  • Acura - Good lease deals on almost every model
  • BMW - 0.9% to 3.9% financing for up to 36 months. Up to $1,500 cash back on some models. Hidden dealer incentives of up to $3,500.
  • Chrysler, Dodge - Cash rebates up to $3,000 on some models. 0% financing up to 72 months. Hidden dealer incentives of up to $1,000.
  • Ford / Lincoln - 0% financing on most models. Rebates as high as $3,500 on some models.
  • GM: Chevrolet, GMC, Cadillac - Up to $5,000 cash back and 0% financing on leftover models.
  • Honda - 0.9% to 2.9% financing on some models.
  • Hyundai - 0.9% - 4.9% financing on some models.
  • Jeep - Cash rebates up to $7,000 on some models. 0% financing up to 72 months.
  • KIA - Great lease deals on most models, cash back rebates as high as $6,500.
  • Lexus - Cash rebates up to $7,000 on some models.
  • Mazda - Rebates up to $3,000.
  • Mercedes - Benz - 1.9% financing for up to 36 months on some models.
  • Nissan - Up to $5,000 rebates on some models.
  • Toyota - 0% to 3.9% financing on most models, rebates as high as $2,000 depending on region. Hidden dealer incentives up to $4,000 on some models.
  • Volkswagen - Mostly lease deals, as low as $239/month

My advice right now: If you don't need a new car anytime soon and have the luxury of waiting, then wait until this fall.

Lauren Fix, The Car Coach® is a nationally recognized automotive expert, media guest, journalist, author, keynote speaker and television host. Post your comments on Twitter: @LaurenFix or on her Facebook Page.
 

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LaurenFix
Finding exceptional new car deals takes some research. You need to know what a good deal is, how to find the best financing incentive or rebate, and how to compare the various options you encounter.
best, time, buy, lease, new car, hidden, incentives
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2020-04-10
Monday, 10 August 2020 08:04 AM
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