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Best Car Deals
We’re working to update our deals pages with this month’s car deals and will get them posted as soon as ...Read More
Deals by Manufacturer
Best Car Deals This Month
Deals are samples from the manufacturer. Availability may vary based on location. Contact your dealer for details and qualification. All prices exclude taxes, licensing, tags and other dealer fees.
CASH BACK DEALS
- $5,250 cash back (Expires: 11/30/20)
- 0% financing for 60 months plus up to $3,000 cash back (Northeast, Mid-Atlantic, Midwest, South Central, Southwest)
0% financing for 60 months plus up to $3,500 cash back (Southeast)
0% financing for 72 months (Northeast, Mid-Atlantic, Midwest, South Central, Southwest)
0% financing for 84 months (Southeast)
0% financing for 84 months plus up to $1,000 bonus cash (Northwest) (Expires: 11/30/20)
CASH BACK DEALS
- Up to $5,000 cash back (Northeast, Mid-Atlantic, Midwest, Southwest)
Up to $5,500 cash back (Southeast)
Up to $6,500 cash back (South Central)
Up to $7,000 cash back (Northwest) (Expires: 11/30/20)
- 0% financing for 84 months (Expires: 11/30/20)
- 0% financing for 72 months plus two years complimentary maintenance (Expires: 01/04/21)
- 0% financing for 72 months (Northeast, Mid-Atlantic, Southeast, Southwest)
0% financing for 84 months (Midwest)
0% financing for 84 months plus $1,000 bonus cash (Northwest) (Expires: 11/30/20)
- 0% financing for 84 months plus up to $2,000 bonus cash (Expires: 11/30/20)
CASH BACK DEALS
- $3,500 cash back (Northeast, Mid-Atlantic, Midwest, South Central, Northwest)
$5,000 cash back (Southwest) (Expires: 11/30/20)
- 0% financing for 60 months plus $4,500 bonus cash (Northeast)
0% financing for 60 months plus $3,500 bonus cash (Mid-Atlantic, Midwest)
0% financing for 60 months plus $4,000 bonus cash (Southeast)
0% financing for 60 months plus $3,000 bonus cash (South Central, Northwest)
0% financing for 60 months plus $5,000 bonus cash (Southwest) (Expires: 11/30/20)
- 0% financing for 63 months (Expires: 11/30/20)
CASH BACK DEALS
- $2,000 cash back (Expires: 11/30/20)
More on Best Car Deals
We’re working to update our deals pages with this month’s car deals and will get them posted as soon as possible. In the meantime, please check out last month’s deals to get an idea of what may be offered this month.
This month is a great time to get a deal on a new car, truck, or SUV. New 2021 models are flooding car lots as automakers strive to get the last 2020s sold. Add the upcoming Black Friday sales events and dealers trying to make up for sales lost earlier in the year to the coronavirus pandemic, and it's the perfect time for buyers to act.
Seven-year 0% financing deals have made a comeback this month, with no-interest offers from multiple carmakers. Even if an automaker doesn’t have seven-year 0% deals, they likely have six-year no-interest offers. The shorter loans are better for your financial security anyway. There are dozens of massive cash back deals in the marketplace for buyers who are prepared to pay cash for their next car. A surprising number of offers this month combine long-term 0% financing and generous bonus cash.
Auto loan interest rates are rock bottom right now, averaging about 4.22%, and lenders are battling for every customer they can get. In some cases, your path to the cheapest deal is to shop for the best auto loan you can qualify for at a local bank, credit union, or online lender. Then, combine that great loan with a cash back offer to get the best of both deals. With car deals from automakers, you generally have to choose between their financing incentive or cash back offer.
Finding exceptional new car deals takes some research. You need to know what a good deal is, how to find the best financing incentive or rebate, and how to compare the various options you encounter. Then you’ll need to know how to take advantage of the offer so you can save the thousands of dollars promised by the deal.
What Are This Month’s Best Car Deals?
Many of this month’s best financing deals are from America’s domestic automakers. GMC is offering seven-year 0% financing across much of its lineup, including the 2020 GMC Terrain, 2020 GMC Canyon, and 2020 GMC Acadia. Buick isn’t far behind, with a seven-year interest-free offer on the 2020 Buick Enclave and other models in its lineup. There are more 0% financing offers from GM’s crosstown rivals Jeep and Chrysler, though their best offers are focused on specific models of the 2020 Chrysler Pacifica Hybrid and 2020 Jeep Renegade.
When you’re a cash buyer, a 0% financing deal doesn’t help you much. Instead, you want a cash back offer. Fortunately, there are plenty of those to be found this month. If you are in the market for a luxury sedan, you can get a $5,000 rebate on a 2020 Toyota Avalon or 2020 Lexus ES in many parts of the country. As an alternative to the 0% offer, Buick is offering $6,250 cash back on the Enclave crossover.
One of the best incentives this month is the cash back deal available on the 2020 Chrysler Pacifica Hybrid. You can get as much as $7,000 cash back on your purchase in some parts of the country. Combine that with the $7,500 Federal Electric Car Tax Credit most buyers are eligible to receive, and you’re saving as much as $14,500 off sticker.
How Can U.S. News Help You Get a Deal?
You’re not getting a great deal on a new car unless you choose a great model that fits your needs and budget. The expert researchers and journalists of U.S. News & World Report offer many resources to help you through the car-buying and ownership journey.
Our researchers analyze thousands of car reviews from the top automotive journalists in the country. We combine that analysis with measurable data about every vehicle’s safety and predicted reliability to form the scores that we use to rank vehicles against their peers. You can find nearly every new car, pickup, minivan, and SUV in our new vehicle rankings. To ensure that our reviews remain fair and impartial, our staff does not accept trips or expensive gifts from automakers, and an independent company handles the advertising on our site.
Our site also features tools that you can use to compare vehicles side by side based on the factors that buyers tell us are critical in their purchase decisions, such as safety, predicted reliability, and vehicle performance.
Ready to buy or lease? The U.S. News Best Price Program connects you with local dealers offering guaranteed savings. Buyers save an average of more than $3,000 when they take advantage of the program.
We also offer resources to help you navigate the complex car-buying process. Our articles teach you how to buy a vehicle, how to get an auto loan, and how to choose between buying and leasing. An essential part of car buying is having the knowledge and confidence to negotiate a great price on the car you want, avoid buying budget-busting add-ons, and finalize the deal. Expert advice, such as making sure that you have an approved financing deal in place from an outside lender before you start visiting dealers, will give you that confidence.
Our support does not end when you drive your new car home. We offer advice on how to get the right car insurance and how to avoid killing your car, which can save you thousands of dollars over the life of the vehicle.
What Is a Car Deal?
Carmakers offer specials for many reasons. Sometimes, a vehicle simply does not meet the sales goals the manufacturer expects, and they need a bit of a boost to pick up the pace. It's not unusual for sales to slow as a vehicle nears the end of its product life cycle. At the same time, dealers need to move those older models off their lots to make room for updated versions.
Buyers can save thousands of dollars by taking advantage of automakers’ and dealers’ efforts to move certain vehicles off the lots. The best part? You don’t have to haggle to get the savings.
Three types of incentives are common. Lease incentives, which you’ll find on our lease deals page, offer low monthly payments, reduced amounts due at signing, or both. Cash back offers and financing deals reduce the price of the car or the cost of financing.
Cash back deals are a bit of a misnomer. You’re not going to leave the dealership with a stack of cash, though that would be cool. Rebates simply discount the price of the vehicle. They go by several names, including rebates, bonus cash, cash allowances, and cash back incentives. No matter which term the automaker uses, they all lower the amount that you have to pay. Claim the $5,250 cash back deal on a 2020 Chevrolet Equinox LT, for example, and you’ll lower the price you have to pay from $27,500 to $22,250. That’s like having a coupon for almost 20% off the sticker price.
One major car-buying cost is the amount of interest you pay when you finance your purchase. Though many buyers don't consider this cost, it can add up to thousands of dollars. Taking advantage of a financing deal can slash that price tremendously. In the case of a 0% financing offer, it can take the cost of financing completely out of the picture. Finding an automaker with a low interest rate offer is like seeing a bank with a huge "Sale" banner. By lowering or eliminating the cost of financing your new car, you can shorten your car loan length, score a lower payment, or possibly afford a nicer vehicle.
To demonstrate your potential savings from a 0% deal, we’ll look at this month's six-year 0% deal on the 2020 Infiniti QX60. We'll keep things simple by assuming you're not making a down payment, don't have a trade-in, and have chosen the $44,350 base QX60 Pure model without any additional options.
Because you don’t pay any interest with the 0% deal, you can determine your monthly payment by dividing the $44,350 price by 72 months. It works out to about $616 per month.
If you can’t take advantage of the 0% deal – and many shoppers can’t because financing deals require top-notch credit scores – you'll have to pay interest on your auto loan. You can expect to pay an average of 4.23% for a 72-month loan right now, and we'll figure that's the rate you qualify for. Because determining interest takes some tricky math, we'll use the U.S. News auto loan calculator to help find the monthly payment. When we enter the price, interest rate, and term, it shows us that each payment would be $699, or $83 more per month than the 0% deal.
Multiply that extra amount by 72 months, and you’ll see that you’ll have to pay $5,976 more for your Infiniti SUV if you don’t get the special financing offer.
The best financing deals are 0% offers, because they eliminate the cost of financing. Any offer that's well below market rates will save you money, though. In most cases, buyers need excellent credit scores to qualify for new-car deals. It's a good idea to check your credit score long before your car-buying odyssey begins. That way, you can take steps to maximize your chance of getting one of the most generous financing offers available.
Also, even though you're getting a rebate or financing deal from an automaker, you should still negotiate with the dealer to get the price even lower.
Interest rate and cash back specials come loaded with fine print and restrictions. Most offers are restricted to specific models or even trim levels of those models. Some are limited to a certain percentage of dealer stock or to consumers who live in specific locations. You can find the best deals available in your area by using our Best Price Program, contacting your local dealer, or chatting with an online sales rep. It's critical to pay attention to the expiration date on any rebate or financing deal, as missing by even a day can disqualify you from getting the discount.
Investing a little time and travel can reap big rewards. Different dealers can pay different prices to automakers to get the cars on their lots, so if one dealer paid substantially less than another dealer for the vehicle you're considering, they'll have more room to negotiate a final price. You can also save money by checking with dealers in areas where your car of choice isn't terribly popular. Full-size pickup trucks, for example, may be a bargain in cities but not in the suburbs or at rural retailers. At the same time, hybrids may not be as in-demand in rural areas as they are in the city.
How Do You Know if It Is a Good Deal?
Consumers should never assume that an advertised deal is automatically a good deal. It takes a little bit of homework to analyze a deal, but fortunately, the math is pretty simple. Most people base their car-buying decision on the monthly payment, but that's not a good way to buy a car. Instead, look at the total cost of the vehicle, including the cost of financing. You'll want to do the math yourself, as it's easy for a trained salesperson to shuffle the numbers around to give you a low monthly payment, even if the overall deal is horrendous. Not considering the total cost of a vehicle is a financial mistake with consequences that last years.
To figure the total cost, multiply the monthly payment by the number of months in the loan and add any down payment that you are making, plus the value of your trade-in. If, for example, you have monthly payments of $400 on a five-year loan and put $5,000 down, the total cost of the car would be $400 times 60 months plus $5,000, which works out to $29,000. You can find your monthly payment by using a car loan calculator that is capable of computing auto loan interest.
The first thing you want to remember is that there are three main components to a car-buying transaction: the cost of the car, cost of the financing, and value of your trade-in. You’ll want to keep them separate, while the dealership will want to lump them all into one confusing deal.
Often, you’ll have a choice of either a cash back deal or a special financing offer. While a massive cash back amount or a 0% deal can be enticing, you can’t know which one is better without doing a bit of math. Let’s look at the deals available this month on the 2020 Buick Enclave to illustrate how easy it is to do. Buick is offering a choice of either 0% financing for seven years (84 months) or $6,250 cash back. We’ll assume you’re not making a down payment or trading in another car, and you’ve chosen a $42,000 Enclave Essence model.
To determine the monthly payment for the 0% financing deal, you can simply divide the $42,000 price into 84 equal payments, which come out to $500 per month.
Opt for the cash back deal, and you subtract the $6,250 rebate from the $42,000 sticker price, which lowers the amount you'll pay to $35,750. However, you'll have to pay interest on your loan. The average rate for a seven-year loan is about 4.24% this month, and we’ll assume you qualified for that rate. Plugging the $35,750 price, the 84-month loan term, and the interest rate into our car loan calculator shows a monthly payment of $493.
In this example, you’ll save $7 per month by choosing the rebate over the 0% financing. That might not sound like much, but over 84 months, it’s a savings of $588. It’s important to note, though, that if the interest rate you qualify for is much higher, the savings will evaporate.
There are many variables involved with different car deals, so never assume that one type of incentive is always going to be better than another. Remember to include the value of your trade-in and any down payment you make into your calculations.
It is critical that you resist the urge, or a dealer’s suggestion, to stretch out your car loan past five years to lower your monthly payment or get into a more expensive car. Taking a longer loan puts you in a more precarious financial position. It usually increases the interest rate and overall cost of the loan. You never want to be forced to choose between paying for a costly repair on a car that is out of warranty or making your car payment.
Completing the Deal
Once you've negotiated an agreement with the dealer, it's time to sit down and do the paperwork. It may have been a long day of haggling, and you just want to hop in your new car and drive away, but you need to slow down and pay attention to the details in the paperwork. You must read each page, making sure that the numbers match what you agreed to. Sometimes costly add-ons magically appear in the final documents, and you’ll want them removed before you sign.
The most critical numbers to look for are the length of the loan, the price of the car, and your interest rate. Don't ever sign a document with blank spaces or errors, even if the finance officer promises to fix them later. If they pressure you to sign papers that are incorrect or that you don't understand, remember that your greatest power is to walk away from the deal.
If a dealer offers you the chance to take the car home while they process the final paperwork, you should politely decline. What often happens is that you’ll get a call saying you didn’t qualify for the deal that everyone agreed to, and you have to return to the dealer to fill out new paperwork. In many of those cases, the new financing deal is much more expensive than the original one.
We research deals based on representative ZIP codes across the country. We strive to keep this list up to date, but offers can change without warning. Some car specials are limited to a certain number of vehicles or a percentage of dealer stock, and inclusion on our site does not guarantee that a particular incentive will be available at your local outlet. The easiest way to find out if you can take advantage of an offer is to click the orange button next to the car that you're interested in, and we’ll search for a great price at a local new car dealer.
Our best car deals include purchase deals for Toyota, Nissan, Ford, Honda, Chevrolet, Hyundai, Kia, Dodge, Ram, Jeep, Mazda, Buick, GMC, Subaru, Volkswagen, Acura, Cadillac, Porsche, Mercedes-Benz, Audi, BMW, Lincoln, Volvo, Infiniti, and Lexus vehicles. Our expert researchers and journalists also search the market for this month’s best lease deals and best used car deals. We’ve done the research to help you find a great ride at a great price.
Best Car Financing Deals:
- 2020 Buick Enclave: 0% financing
- 2020 Chrysler Pacifica Hybrid: 0% financing
- 2020 GMC Terrain: 0% financing
- 2020 Infiniti QX60: 0% financing
- 2020 Jeep Renegade: 0% financing
- 2020 Nissan Titan: 0% financing
- 2021 Ram 1500: 0% financing
- 2021 Subaru Ascent: 0% financing
Best Car Cash Back Deals:
- 2020 Buick Enclave: $6,250 cash back
- 2020 Chevrolet Equinox: $5,250 cash back
- 2020 Chrysler Pacifica Hybrid: $5,000 cash back
- 2020 Lexus ES: $5,000 cash back
- 2020 Toyota Avalon: $3,500 cash back
- 2021 Toyota Avalon: $2,000 cash back
- 2021 Volvo XC90: $3,000 cash back
Car Deals: December 2020
We've compiled a list of the best car deals available in the U.S. for this month.
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