Best Labor Day Car & SUV Deals For 2020

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 - September 4, 2020

See the latest deals as they're announced

We're on a mission to uncover the best Labor Day car & SUV deals for 2020. Although the holiday isn't until September 7, we're already seeing outstanding deals for buying & leasing, including 0% APR for 84 months and leases starting at just $139/month.

CarsDirect is the only website continuously monitoring the latest Labor Day car sales from each brand and bringing you deals as they're announced. We'll even tell you about hidden discounts that can save you money amidst the challenges of COVID-19.

Looking for a great deal on a pickup? See our special coverage of the best Labor Day truck deals. Offers below are listed with the latest deals at the top.

Last Updated September 4, 2:59 pm
(9/04) Genesis has cut lease pricing on the G70 to just $389/mo
(9/04) GM is offering a $154 lease on the Bolt in San Francisco
(9/04) Ford is offering some huge discounts for returning lessees
(9/03) Honda offering extra $750 off Accord, CR-V thru 9/08
(9/02) Volvo is offering a $500 Labor Day bonus on all models
(9/02) Dodge now offering 0% APR for 72 months on Hellcats
(9/01) RAV4 rate cut to 0%, EcoSport and Equinox deals extended

Best Labor Day SUV Deals

Labor Day shoppers have a rare opportunity to lease an Edge for less than the cost of an Escape. Here in California, there's a massive $2,650 discount available for returning Ford Credit lessees. As a result, the Edge SEL can now be leased from $279 for 36 months with just $999 due at signing.

That's $20/month cheaper than what Ford is advertising on the 2020 Escape SE. As a result, you can potentially spend less money to take home a vehicle that's over $8,000 more expensive. Note that the deal in question includes a $250 bonus on vehicles that have been in stock for over 60 days.

Offer ends September 8. Check Edge Prices Near You »

Toyota has cut financing rates on the RAV4 just in time for Labor Day in many parts of the country. Here in Southern California, you can now get 0% APR for 60 months (down from 1.9% APR in August).

On a $30,000 vehicle, this small change can save you nearly $1,500 in interest and lower your payment by up to $25/month. This matches a deal we last saw back in April as part of the brand's COVID-19 response.

It doesn't get much better than this on the RAV4. Just be aware that rates for the RAV4 Hybrid are higher at 1.9% APR, with no such offers on the RAV4 Prime. Leases here in Socal start at just $299/month.

Offer ends September 30. Check RAV4 Prices Near You »

On August 28, Ford began offering a $1,000 trade-in assistance bonus on the Explorer here in California. You can combine the offer with 0% APR for 72 months, making this one of the best deals to date. Like all Fords, the SUV comes with Ford Promise, a remarkable incentive involving up to $15,000 in job loss protection.

Believe it or not, our analysis finds that this APR deal can actually make a $40,000 Explorer cheaper to buy than a $35,000 Kia Telluride because of a difference in incentives. That said, a separate rebate from Ford promises $5,250 in savings but with the bizarre catch that it only applies to vehicles in stock for over 225 days.

Offer ends September 8. Check Explorer Prices Near You »

Financing rates for Nissan's most affordable model just got a lot better. On August 25, all versions of the Kicks became eligible for 0% APR for 72 months. Previously, the best rate was 0.9% for 60. On a $20,000 vehicle, this enables buyers to pay zero interest and lower their payment by over $60/month.

Even better, Nissan is offering a $500 bonus simply for taking out a loan through its captive financing company, NMAC. This marks the best deal we've seen to date on what is arguably one of the cheapest SUVs on the market. Every Kicks comes standard with features like automatic emergency braking.

Interested in something bigger? Nissan is offering the same great rate on other SUVs, too.

Offer ends September 8. Check Kicks Prices Near You »

Hyundai is offering a $500 Sales Event Cash on all versions of the Tucson. In addition to interest-free financing for 6 years, Hyundai is offering the flexibility of deferred payments for 90 days. This is currently the best APR deal at the moment on any Hyundai model.

To put this into perspective, the best deal on the Toyota RAV4 is 1.9% APR for 60 months. On a $30,000 SUV, the Tucson offers a payment that's $115 (per month!) lower with a nearly $2,000 advantage in terms of the estimated total cost before taxes & fees.

Offer ends September 8. Check Tucson Prices Near You »

Discounts on the no-frills EcoSport have increased up to 67% compared to last month. With $6,250 in potential savings, this marks the single largest rebate on any subcompact SUV at the moment.

Here in California, that's more than 4x the savings available on newer competitors like the 2020 Hyundai Venue ($1,500 rebate). You'll probably never see a deal this good on a 2020 Honda HR-V.

That said, rebates vary by trim and offer the most savings on SES and Titanium models. SE and S versions offer $5,500 and $4,750 off, respectively. Alternatively, Ford is offering 0% APR for 72 months.

Current offers end September 8. Check EcoSport Prices Near You »

Chevy is continuing to offer 0% APR for 84 months on the Equinox. This is the exact same deal that we saw for July Fourth and remains one of the few instances in which you can get interest-free financing for 7 years.

Although Chevy is offering 15% off MSRP as an alternative, buyers should weigh these choices carefully. For example, Chevy is advertising $5,710 in savings but is basing that off of an inflated MSRP of over $38,000.

Current offers end September 30. Check Equinox Prices Near You »

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    Best Labor Day Car Deals

    Through September 8, Genesis has lowered pricing on the G70 by $10/month. You can now lease a 2.0T Standard from just $389 for 36 months with $0 due at signing. The absence of a big down payment requirement could be a big selling point compared to competitors like Lexus and BMW.

    We consider this one of the best leases on a luxury car. As before, you can even get a $1,000 discount simply for coming from another Genesis, Hyundai, or a competing brand. Interestingly, the G70 is almost less expensive than the Acura TLX, currently one of the cheapest leases on a luxury car.

    Offer ends September 8. Check G70 Prices Near You »

    Starting September 1, you can now get interest-free financing on one of the most powerful mass-production cars on the planet. Typically excluded from APR offers, all SRT Challengers (and Charger Hellcats) are eligible for the same great deal.

    This marks the single best financing deal we've seen to date on this model. That said, one of the main trade-offs is that you'll have to pass up some generous rebates in the process and cheaper variants limit 0% financing to just 36 months.

    Offer ends September 30. Check Challenger Prices Near You »

    The Elantra remains the cheapest car you can lease in most parts of the country. Here in Los Angeles, the budget-minded sedan can be leased from as little as $139 for 36 months with $2,499 due at signing.

    At an effective cost of $208/month before taxes & fees, the Elantra SE is almost $50/month cheaper than the 2020 Honda Civic LX. As a result, we consider the Elantra to be one of the best lease deals on a car.

    Shoppers weighing buying vs. leasing should be aware that incentives favor the latter. Where you could find 0% APR for 84 months a few months ago, interest-free financing is now limited to just 60 months.

    Offers end September 8. Check Elantra Prices Near You »

    Late last month, Honda slashed lease prices on both the Accord and Accord Hybrid by up to $20/month. The hybrid can now be leased from just $300 for 36 months with $0 due at signing as part of a Sign & Drive deal.

    At this price, the fuel-efficient sedan is just $10/month more expensive than the gas model. Just be aware that Honda has quietly changed the mileage allowance on the offer from 12,000 miles per year to just 10,000.

    Offer ends November 2 and is available in many parts of the country. Check Accord Hybrid Prices Near You »

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    Hidden Labor Day Deals

    Chevy is offering some unbelievably cheap leases on the Bolt this month. The biggest change is a $3,000 bonus available to Costco members. With the discount, the featured lease on the Bolt LT is $194 for 36 months with just $194 due at signing. That's the cheapest lease we've seen in recent memory.

    To get to that price, you'll have to qualify for a $1,500 bonus for coming from another lease from any brand. But that's not all. Those in the San Francisco Bay Area can get an extra $1,400, reducing the cost to just $154 per month with $154 at signing. You won't find a cheaper lease on an EV right now.

    With an effective cost as low as $158/month, there arguably hasn't been a better time to get behind the wheel of an EV. The offer is based on an allowance of 12,000 miles per year according to a dealer leasing bulletin and is over $100/month more affordable than past offers Chevy has advertised nationally.

    Offer ends September 30. Check Bolt EV Prices Near You »

    Through September 8, Honda is offering an unadvertised $750 dealer cash incentive on all-wheel-drive versions of the CR-V LX. Even better, financing through Honda can get you access to an additional $500. But that's not all.

    You can also get a $750 conquest bonus when coming from a Toyota or Subaru vehicle in certain parts of the country. Some examples include places like Colorado, Massachusetts, New York, Oregon, Vermont, among others.

    That's $2,000 in potential savings that you can stack with 1.9% APR for 60 months (or 2.9% for 72). This is probably the biggest discount we've seen to date on the CR-V. Offer ends September 8. Check CR-V Prices Near You »

    Lexus' flagship car has an incredible discount that you probably won't see advertised. In most parts of the country, the automaker is offering a dealer cash incentive worth up to $15,000 on Lexus LC dealer demo models (excluding the convertible).

    While that's an impressive amount, the fact that not all vehicles are eligible means you may need to shop around. That said, 2020 Lexus LCs are eligible for a choice of $6,000 cash or 0% APR for 60 months, the best deals to date on this model.

    Offer ends September 30. Check LC Prices Near You »

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    All Labor Day Car & SUV Deals

    Every Labor Day Deal by brand, in alphabetical order.

    Chrysler Labor Day Deals

    Updated! Dodge Labor Day Deals

    Updated! Ford Labor Day Deals

    Updated! Honda Labor Day Deals

    Hyundai Labor Day Deals

    Jeep Labor Day Deals

    Lincoln Labor Day Deals

    Mazda Labor Day Deals

    Nissan Labor Day Deals

      Updated! Toyota Labor Day Deals

      New! Volvo Labor Day Deals

      • Extra $500 off all Volvos thru 9/08
      • 0% APR on all 2020 and 2021 models
      • Up to $3,000 loyalty discount thru 9/08 (S90) Shop Volvo »

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      Tips For Labor Day Car & SUV Buyers

      Apart from the challenges of COVID-19, new & used car shoppers may find their favorite cars & trucks harder to find due to an ongoing vehicle shortage. For example, Toyota reportedly has the worst inventory of any major automaker. As a result, finding the right vehicle may require more shopping than some may be accustomed to.

      Not every brand is offering special programs amidst COVID-19. For example, VW offered no payments for 6 months back in April. Although you can still find interest-free APR for up to 6 years, the deferred payment incentive is gone. BMW, Lexus, and Mazda are among a handful of brands still offering no payments for 90 days.

      We continue to be in an unprecedented moment in time with a lot that can't be predicted. That said, we do know that brands like Ford, Jeep, and Toyota tend to introduce better deals around holidays. This usually takes the form of bonus cash, better rates, and cheaper leases. Stay tuned for updates in the coming weeks.

      Thinking of buying a truck? Incentives from GM have gotten progressively worse in light of an inventory shortage. However, competitors like the Ford F-150 and RAM 1500 continue to offer zero-interest options that can save you money. In Ford's case, we may see holiday incentives like trade-in assistance cash closer to Labor Day.

      If you're considering a popular vehicle like the Honda CR-V Hybrid, you may see no advantage in waiting compared to buying now. Even though the regular CR-V is eligible for Sign & Drive leases that rank among the best leases on an SUV, the hybrid is excluded. Due to high demand, expect to pay a premium at dealers.

      Focused on price? We found 63 SUVs with a payment under $300 a month. We even found 30 leases with a payment of $199 or less. A lot of great deals can also be found on EVs, plug-ins, and hybrids. For example, the 52 mpg Hyundai Sonata Hybrid is already eligible for 0% APR for 60 months plus a $500 cash incentive.

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      , 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

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