If you’re in the market for a brand-new vehicle, Presidents Day might be your best bet for a bargain.
As the annual holiday looms, retailers are breaking out deals on some of their most popular products — cars included.
On Thursday, U.S. News & World Report announced its 2020 Best Presidents Day Car Deals just in time for the holiday weekend. This year, the list includes nine vehicles, including sports cars, SUVs and one full-size truck.
The deals promise stellar financing, cash back and lease incentives.
“Just like Black Friday or Christmas, you’re likely to find a great deal whenever there’s a holiday sale going on,” said Jim Sharifi, managing editor of U.S. News and World Report’s Best Cars.
“With Presidents Day, we’re just now getting into that 2020 model year, so you’re seeing incentives on a lot of new vehicles that are fresh for the model year, as opposed to something you might see on Black Friday or Christmas, where you might see inventory stock from the previous model year that the dealer wants to liquidate.”
In order to provide consumers with the best deals, Sharifi said the process involves evaluating cars that are top-ranked in their respected classes, and of those top-ranked cars, determining which ones provide the overall best deal for Presidents Day weekend.
Don’t know what kind of car to buy? More and more consumers are buying SUVs, primarily subcompact and compact SUVs.
If you’re in the market for a compact SUV, Sharifi recommends the 2020 Honda CR-V, available at 1.9% financing for 36 months.
“We’re talking about a vehicle that, not only are you getting a great promotional rate on this Presidents Day, but is also a vehicle that delivers a lot of value,” Sharifi said. “This car has won a Best Cars for the Money Award from us because it offers a good, overall value with low-ownership cost over a five-year term.”
If you’re looking for something sportier, and willing to opt for a model from the previous year, Sharifi recommends the 2019 Mazda MX-5 Miata, with 0.9% financing for 72 months.
Similar to the 2020 Toyota Camry, the Miata is a top-ranked vehicle among sports cars, with user-friendly tech features, incredible fuel economy and an overall fun car to drive, Sharifi said.
If a full-size truck is more your speed, the 2019 Ram 1500 is an incredible deal, according to the report. The reason for that is its 1.9% financing for 72 months, plus $4,750 cash back.
“It’s very rare to see that long, loan term, with a low interest rate and a lot of cash back,” Sharifi said. “So if you’re a full-size truck shopper, that’s worth checking out.”
So whether you’re looking for a durable SUV, or a sports car you can show off driving, Sharifi promises deals with attractive lease incentives and low-interest financing.