Best Presidents' Day Car Deals For 2023


Managing Editor

As CarsDirect’s resident pricing expert, Alex offers must-know analyses 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 by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Managing Editor - February 17, 2023

We're providing real-time updates on the best Presidents' Day car deals for 2023. Even though this year's holiday isn't until February 20th, we're already seeing Presidents' Day car sales offering close to $10,000 off MSRP, as well as financing deals with interest rates as low as 0% APR on new cars, trucks, and SUVs.

The best holiday car sales offer incentives you may not be able to get otherwise. Whether that's deferred payments, cheaper lease prices, loyalty discounts, or savings for switching brands, there are deals if you know where to look. We'll even tell you about unadvertised deals that you won't hear about anywhere else.

We'll be updating this page based on the latest offers, so stay tuned for changes closer to the holiday.

Updated February 17th at 5:54 pm

Presidents' Day SUV Deals

Hyundai Tucson crossover

On February 10th, Hyundai lowered the interest rate on the 2023 Tucson from 2.9% APR to 0% for 48 months. This may be the best deal that we've seen on the Tucson crossover since its redesign. The catch is that hybrid and plug-in hybrid (PHEV) versions of the Tucson are excluded. Offer ends on February 28th.

Hyundai Santa Fe

Hyundai slashed the interest rate on the 2023 Santa Fe to 0% APR (previously 2.9%). While the downside is that the rate is limited to 48-month loans, Hyundai is offering 60 and 72-month options at 2.9% and 3.9%, respectively. Sadly, hybrid and PHEV Santa Fes aren't eligible for the promo, which ends on February 28th.

Ford Escape crossover

In California, Ford is offering an outstanding combination of deals on the 2022 Escape. Starting on February 15th, gas versions of the crossover get 0% financing for 36 months plus $1,000 Trade-In Assistance Bonus Cash. You won't find a better deal right now on a Toyota or Honda model. Offer ends on February 20th.

Ford Bronco Sport

On February 15th, Ford began offering $1,000 Trade-In Assistance Bonus Cash on the 2022 Bronco Sport. This is currently the only way to score a discount on the wildly popular crossover. Based on our analysis, this is a regional deal limited to California that will end on February 20th.

Volkswagen Taos

On February 14th, all versions of the 2023 Volkswagen Taos became eligible for 3.9% APR for 72 months. Earlier this month, the deal was limited to a mere 36 months. If you're looking to lower your monthly payment, now is a considerably better time to buy. Offer ends on February 28th.

2023 Volkswagen Atlas

On February 14th, VW began offering 3.9% financing on the Atlas for up to 72 months. Previously, the rate was limited to just 36 months. This marks the best deal we've seen in months on the brand's biggest SUV. Alternatively, the coupe-like Atlas Cross Sport qualifies for the same deal.

Volvo XC60

Volvo began offering a $750 Presidents' Day Bonus on all versions of the 2023 XC90 crossover. This national incentive is available whether you buy or lease the well-equipped SUV through February 28th. The best part is that even the XC90 plug-in hybrid is eligible. Here's why that's a big deal.

Last month, Volvo slashed plug-in lease prices with a $7,500 lease credit on every PHEV and EV in its lineup. In some cases, Volvo EV lease prices plummeted by over $100 per month. Since you can stack the lease credit with the holiday bonus, that's $8,250 in potential savings for Volvo lessees.

But wait, there's more. Current Volvo customers can enjoy up to a $2,000 loyalty discount on leases in some parts of the country. Here in California, that can bring your discount as high as $10,250. You won't see a deal anywhere near that good on a new BMW or Lexus SUV for Presidents' Day.

Lincoln Corsair

Starting on February 8th, Lincoln is offering deferred payments for 90 days on all versions of the Corsair crossover. In the case of the 2022 Corsair, you can now get 0.9% financing for up to 36 months. Or, choose the 2023 Corsair and take advantage of 1.9% financing.

Be sure to ask your dealer about a potential tax credit on the Corsair Grand Touring. As a plug-in hybrid electric vehicle (PHEV), the Corsair plug-in may qualify for a tax credit for those who qualify. That's an advantage you may not get with the regular Corsair model.

Lincoln Aviator

The 2023 Lincoln Aviator offers 2.9% financing for 36 months with deferred payments for up to 90 days. That's not a bad deal, but the catch is that longer loans have considerably higher rates. On a 60-month loan, the 2023 Aviator is available at 4.9% APR, while a 72-month term comes in at an interest rate of 6.9%.

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          Presidents' Day Car Deals

          Volvo XC60

          Through February 28th, the 2023 Volvo V60 offers a $750 Presidents' Day Bonus. Choose the sporty T8 plug-in hybrid and take advantage of a whopping $7,500 lease credit for $8,250 in savings that you can't get when buying versus leasing.

          If you're a returning Volvo customer, you may be eligible for a $500 loyalty discount when leasing. As a result, it will be possible to score up to an $8,750 discount on a plug-in V60 for Presidents' Day. Example based on West Coast Volvo deals.

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            Presidents' Day Truck Deals

            2022 RAM 1500 truck

            Stellantis is offering some crazy deals on the RAM 1500 in some parts of the country. In the Southeast, the brand is advertising $9,500 off the 2022 RAM 1500 Big Horn Diesel 4x2 Crew Cab. That's the largest discount on a truck that we've seen in months and way more than what Chevy and Ford are offering right now.

            The discount includes a confusing combination of incentives: $1,000 customer cash, $1,000 in Chrysler Capital bonus cash that you can only get when financing, $3,500 in bonus cash, $3,000 in bonus cash only available on the diesel, and $1,000 in bonus cash on the 4x2 model. That's $9,500 in savings up for grabs.

            In California, the RAM 1500 Big Horn is being advertised with $7,000 in bonus cash. The difference is that you can stack the savings with 0% APR financing for 72 months. We think this is one of the best deals on any vehicle right now. RAM incentives can often vary by region and are due to end on February 28th.

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            Presidents' Day Car Lease Deals

            2023 Honda Passport SUV

            On February 7th, Honda more than doubled its loyalty discount for returning lessees to $1,250 (previously $500). As a result, the cost to lease a 2023 Honda Passport EX-L has fallen to just $379 for 36 months with $4,999 due at signing for current customers (10,000 miles per year).

            We're seeing this Presidents' Day lease deal available in most parts of the country through February 28th. This marks the best price we've seen to date on the 2023 Passport. Having said that, the better-equipped Trailsport trim may be a good upgrade at $419 with $4,699 due at signing.

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            Presidents' Day EV Deals

            Hyundai IONIQ 5 hatchback

            On February 10th, Hyundai cut its interest on the 2023 IONIQ 5 to 4.9% for 60 months. That's a price cut from the previous rate of 5.25% APR. Alternatively, dealers are being given an unadvertised $1,000 cash incentive when EV buyers finance at slightly higher interest rates.

            As we reported earlier this month, the IONIQ 5 is also a lot cheaper to lease than before. That's because Hyundai began offering a surge in lease cash worth as much as $2,750 (previously just $500). As a result, leasing could be a better deal. Deals end on February 28th.

            2023 Kia EV6

            On February 9th, Kia lowered its advertised lease payment on the EV6 by $20 per month. You can now lease the 2023 Kia EV6 Wind in California, Colorado, Florida, New York, Texas, and other states for $599 for 39 months with $3,999 due at signing (10,000 miles per year). The offer will end on February 28th.

            Previously, the price was $619 a month, and this marks the second price cut in less than a month on the popular electric vehicle. The downside is that the discount on the EV6 hasn't actually changed, and our analysis found that the price cut is only possible because the lease term was stretched from 36 months to 39.

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            All Presidents' Day Car Sales

            Here's a list of Presidents' Day car deals we're currently tracking by brand.

            Hyundai 2023 Presidents' Day Car Sale

            Hyundai Kona

            Between February 10th and February 28th, Hyundai is offering lower rates on select 2023 models. The Tucson and Santa Fe offer 0% financing for 48 months (versus 2.9% previously). The Kona has a $500 cash incentive when financing at non-promotional rates. Finally, the IONIQ 5 offers 4.9% financing for 60 months.

            Explore Hyundai Models For Sale

            Ford 2023 Presidents' Day Car Sale

            Ford Expedition

            Between February 15th and February 20th, Ford is offering $1,000 Trade-In Assistance on the 2022 Escape, Bronco Sport, Edge, Explorer, and Expedition. The deal enables you to get a $1,000 rebate that you wouldn't be able to enjoy otherwise if you happen to have a vehicle to trade in.

            Unfortunately, this appears to be a regional deal only available in California. Ford's Presidents' Day incentive can be combined with promotional financing rates starting at 0% APR in the case of the Escape. This is a fairly typical deal that we see around major holidays in the Golden State.

            Explore Ford Models For Sale

            Volkswagen 2023 Presidents' Day Car Sale

            Volkswagen Tiguan

            Between February 14th and February 28th, VW is offering 3.9% APR financing for 72 months on 4 models: the 2023 Taos, Tiguan, Atlas, and Atlas Cross Sport. We haven't seen a financing deal this good in months from the German automaker.

            Explore VW Models For Sale

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            When Do Presidents' Day Car Sales Start?

            Ford Mustang convertible

            Presidents' Day car deals generally come out 1 to 3 weeks before the holiday. In some cases, the best Presidents' Day car sales aren't revealed until just days before. This year, some brands like Volvo are even offering month-long Presidents' Day sales on every vehicle in their lineup.

            Last-minute deals can be hard to predict. In California, we tend to see Ford offer $1,000 in trade-in assistance cash during a narrow timeframe right before a holiday. If you're looking to trade in your current car, this can help you save some extra cash toward a new purchase or lease.

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            Is Presidents' Day A Good Time To Buy A Car?

            Dodge Challenger coupe

            Presidents' Day has traditionally been a good time to score extra discounts on new cars, trucks, and SUVs. Whether it's 0% financing or special holiday incentives, Presidents' Day deals have been fairly reliable. While an industry chip shortage hasn't gone away, things have definitely gotten better.

            There are winners and losers, however. For example, brands like Dodge, Jeep, and RAM have some of the highest inventory levels. In contrast, you'll likely have a much tougher time finding the Toyota or Subaru that you want to buy. Your results may vary, so shop around with multiple car dealers.

            In some cases, automakers are encouraging buyers to place a factory order. In other cases, people are putting down deposits on cars in transit. We're even seeing auto manufacturers offer ways to lock-in current interest rate deals. These price protection programs could help save you money on a car.

            2024 Chevy Trax redesign

            For example, the GM Incentive Confidence Program offers to pay the difference if rebates go down by the time your vehicle arrives. In Ford's case, you can save an extra $500 with a custom order incentive on a wide array of popular 2023 cars and trucks such as the Ford Mustang, Explorer, and F-150.

            In a seller's market, there's also the potential to experience a dealer markup. Higher used car prices have also been helping buyers by enabling them to take advantage of higher trade-in values. Having equity in your current car could help offset high prices, so be sure to get the most that you can.

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            , Managing Editor

            As CarsDirect’s resident pricing expert, Alex offers must-know analyses 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 by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

            Follow On: Twitter

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