4th of July Car Deals: Things Every Shopper Should Know

By

Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - June 27, 2019

With the 4th of July holiday just a week away, shoppers can expect to find a nice selection of deals on popular cars & trucks. While now is undoubtedly a good time to do your research on the features that matter to you, there are some important things worth knowing about before you start comparing prices.

Most of the best deals are on SUVs. So far, the trend we're seeing is that 4th of July offers favor SUVs over cars. For example, Mazda just introduced an offer this involving a waiver worth up to $500 on your first month's lease payment. However, the only models eligible are the brand's SUVs. In some cases, an SUV can end up being cheaper to lease than a car.

Here in Los Angeles, the 2019 CX-5 Sport is listed at $219 for 36 months with $2,499 due at signing, an effective cost of $288/month. At the same time, the redesigned Mazda3 Hatchback is featured at $255 for 36 months with $2,499 at signing, which comes out to $324/month. That's a $36/month advantage in favor of the CX-5. You also get the benefit of the payment waiver.

Mazda CX-5Similarly, Ford just announced up to $2,000 in trade-in assistance this morning, but a closer look finds that none of the brand's cars are eligible. The deal focuses squarely on the 2019 Escape, Edge, Explorer, Flex, and F-150. The Escape, Edge, and Flex also benefit from increased lease discounts, something you won't find on any of the brand's cars at the moment.

0% APR is harder to find. Last month saw a surge in 0% financing offers. Unfortunately, a number of brands scaled back deals following Memorial Day. In the case of the Hyundai Kona, previously a top-ranked deal, 0% APR is now available for up to 60 months (previously 72 months). That's potentially going to be bad news for those looking to lower their monthly payment.

In some cases, we're finding that automakers are attaching "catches" to their best rates. For example, the Ford Fusion is eligible for 0% APR for 72 months plus up to $2,000 in bonus cash. That's certainly great on paper, but the fine print says only cars in stock for over 61 days are eligible. If not, 0% financing is limited to a mere 48 months. That may have a big impact on your bottom line.

Hyundai KonaBetter offers may be around the corner. Most current promotions are set to end July 1, which means we may not even see July 4th promotions until at least July 2, which falls on a Tuesday. Last year, our records show some manufacturers didn't announce their best deals until July 3.

Some brands have pulled their plans forward. Yesterday, Toyota quietly changed the end dates for current offers from July 8 to July 1. This could signal potential changes right before the holiday. If time is on your side, you may find it worthwhile to wait.

Some brands are off to an early start. As of today, our analysis finds that Ford, Honda, Mazda, and Fiat Chrysler are off to an early start with offers that are better than what you could get earlier this month. For example, Honda lowered rates on the Accord by up to 2% on June 21.

Yesterday, Fiat Chrysler introduced a 4th of July Bonus on models under the Dodge, Chrysler, Jeep, and RAM brands. For example, the Chrysler Pacifica Limited benefits from a $1,250 bonus. Shoppers can now get 0% APR for 60 months plus $2,250 in bonus cash.

See our ongoing 4th of July deal coverage »

, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter | Website

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