With a goal of drumming up some new business, a lot of car manufacturers and dealers are offering some big Black Friday deals.
During the pandemic, new cars have not been rolling off dealer lots as often as they did last year.
“We’re seeing these really low-interest rates or no interest financing over a much longer term than we’ve normally seen in the past,” said Jim Sharifi, managing editor of U.S. News & World Report’s Best Cars.
Some of the highest-ranked cars are included in its “Best Black Friday Car Deals for 2020” list.
Included are several popular mid-size cars, such as the 2020 Toyota Camry and the 2021 Camry hybrid — which both can be driven home with 0% financing for 60 months — and the 2021 Hyundai Sonata, which is available for 0% financing for up to 72 months.
“A lot of these are very time-tested models,” Sharifi said.
There are a lot of deals on leasing, as well.
The 2020 Honda Accord is being offered for $290 a month for 36 months, with no money due at signing. The 2021 Mazda CX-30 is available for $209 a month for 36 months, with $2,999 due at signing.
In the SUV department, leasing the 2020 Subaru Ascent goes for $319 per month for 36 months with $2,999 due at signing. To buy, a 0% financing for 63 months is available.
A BMW also made the list this year: The i3, a small electric hatchback, is available for 0% financing for 60 months.
“If you’re looking to make that jump to an electric vehicle, this might be the time to do it,” Sharifi said.
What is driving the deals?
Sharifi said the slower sales due to the pandemic is part of it, but there are other factors at play, including a push for better sales numbers before the month ends and dealerships looking to free up some space on the lots.
“You can get into a 2020 model year car right now, as they’re trying to make room for that 2021 inventory and really save yourself some money in the process,” Sharifi said.
As for 2021 models, Sharifi said, not as many made the list because manufacturers are still ramping up production after slowdowns and because, in some cases, of pandemic-related plant shutdowns.
The deals last through Nov. 30.
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