Memorial Day Will See Far Fewer New Car Deals

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 - May 13, 2021

A little over a year ago, nearly every major automaker began offering cutthroat deals. Now, with Memorial Day just weeks away, new car shoppers are poised to save considerably less money due to fundamental changes in manufacturer incentives and a buyer's ability to get a deal.

As we reported last week, over half a dozen automakers have either raised rates or taken away discounts altogether. GM has even resorted to taking away a valuable Supplier Pricing program from teachers, military, and first responders and replaced it with a meager $500 incentive.

A year ago, you could save $7,086 on a Jeep Gladiator Overland with Employee Pricing. Now, Jeep is offering just $1,000. VW's best deal was 0% APR for 72 months on every model with no payments for 6 months. Now, you'll be lucky to get 0% for 60 months on a Tiguan.

In what could be some of the biggest changes this month, Chevy eliminated 0% financing altogether. Last year's Memorial Day holiday offered 0% APR for 84 months on models like the Chevy Equinox SUV. Now, the iconic American brand isn't even advertising any financing deals.

While offers are always subject to change, it's becoming increasingly clear that those expecting to find Memorial Day deals on cars could be severely disappointed. Even those looking to get top-dollar for their car may find affording a similar-equipped car or truck less affordable.

With the average loan length at well over 72 months, today's lousy deals could have major repercussions on a consumer's financial picture for years to come. Shoppers should be prepared to see higher prices and have less leverage compared to previous holiday sales.

This Year's Top Memorial Day Car & SUV Deals »

, 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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