Some manufacturers have backed off on the incentives this August, but there are still some great lease, finance, and cash back deals to be found in the compact and full-size pickup segments. Deals on the Ram 1500 and GMC Canyon are some of the best we’ve seen this year.
Both feature zero-percent finance deals with substantial cash back.
We study the market to find the best pickup truck deals available each month, and you’ll find the best deals this August on the following pages. U.S. News & World Report has ranked the best full size and compact pickups, so you can compare them side by side to find the truck that fits your needs.
Note that many of these deals are based on where you live, so be sure to use our Best Price Program to help find the most affordable pickup deal in your part of the country.
2016 Ford F-150
Deal: Up to $3,500 cash back when you finance through Ford (Details below)
Each month, Ford offers a variety of deals on the most popular vehicle in the U.S., the F-150 pickup. However, this August the best deal is up to $3,500 cash back when you finance through Ford.
Ford is offering special financing deals with bonus cash as well, but the rates are not significantly lower than market rates unless you can afford a three-year loan, which has a special rate of 0.9 percent this August. Lease deals can get you into an F-150 XLT for around $300 per month for three years with between $4,000 and $5,000 due at signing in many parts of the country.
The F-150 is U.S. News & World Report’s No. 1-ranked full-size pickup with its range of powerful V6, V8, and efficient twin-turbocharged V6 gasoline engines. Prices for the F-150 start at $26,540 for a basic work truck but can top $70,000 for a pickup that rivals luxury cars for interior opulence.
2016 Chevrolet Silverado
Deal: $3,000 Cash Back (Details below)
Like the truck deals this August on the F-150, the best deal this month on the 2016 Chevrolet Silverado 1500 is the cash-back offer. In Chevy’s case, it is $3,000 on Crew Cabs and $2,500 on others. The Silverado is tied for No. 2 in our full-size pickup rankings.
Chevy is also offering a financing deal, but at 2.9 percent for five years with up to $2,000 cash back, the interest rate is not significantly better than the national average rate of 3.12 percent (as tracked by Bankrate.com). In fact, if you have excellent credit, you may be able to beat Chevy’s promotional rate at your bank or credit union.
This August, Chevrolet is also offering a lease deal on the Silverado with payments of $319 per month for 39 months with $4,209 due at signing. Though, like many lease deals on GM products, there is a lower-than-average mileage cap of 32,500 miles before excess mileage fees are charged.
For 2016, the Silverado received a minor facelift with a revised front-end design. Apple CarPlay and Android Auto capability is available in most Silverado models.
2016 Ram 1500
Deal: 0% financing for 72 months or up to $5,750 bonus cash on Ram 1500 Big Horn (Details below)
Our Best Full-Size Truck for the Money award winner for 2016 is available this August with a variety of financing, lease, and cash-back deals. Among the best is a six-year, zero-percent interest offer on the Ram 1500 Big Horn.
Depending on where you live, the financing offer also includes up to $5,750 bonus cash.
The Ram 1500 is tied with the Chevy Silverado 1500 for the No. 2 slot in our full-size truck rankings. It offers one of the most comfortable, feature-laden cabs in the class. Ram 1500s are available with the intuitive Uconnect infotainment system, air suspension, and a turbodiesel engine that gives the truck best-in-class fuel economy.
2016 GMC Sierra
Deal: $3,000 cash back (Details below)
There aren’t great financing deals this August on the GMC Sierra 1500, so you should opt for the $3,000 cash back deal on our No. 4-ranked full-size pickup and use our Best Price Program to save even more by surveying your local dealers to find the best deal.
GMC offers three engine choices for the Sierra 1500, including a V6 and two V8s. All feature efficiency technologies like variable valve timing, direct injection, and the ability to shut down engine cylinders to save fuel when peak power is not needed. Most Sierra 1500s feature Apple CarPlay and Android Auto capability, plus the ability to create a Wi-Fi hot spot using a 4G LTE data connection.
2016 Toyota Tundra
Deal: Up to $3,250 cash back (Details below)
This August, Toyota’s offering $3,250 cash back on the Tundra, our No. 5-ranked full size pickup. In some parts of the country, you can opt for a zero- or low-interest financing deal instead of the cash back. The inefficient Tundra struggles to compete with other pickup brands.
It’s not that the Tundra is a bad truck. In fact, the Tundra performs exceptionally well off-highway in its TRD-Pro trim. But there are only two V8 engine options, and neither of them is at all fuel efficient. The Tundra’s cabs, while offering plenty of room for both front- and rear-seat passengers, is starting to show its age.
2016 Nissan Titan XD
Deal: Up to $4,500 cash back (Details below)
Looking for a truck that drives like a light-duty pickup but tows and hauls like a heavy-duty truck? That’s Nissan’s goal with the 2016 Titan XD, and this August, you can get up to $4,500 cash back when you purchase one. The starting price for the truck is $35,290.
With the redesign of the Titan, Nissan has split the model into two types. The 2016 Titan XD is the truck designed to tow up about 11,000 pounds, depending on its configuration. Coming for 2017 is the regular Titan. It has ample power from a 5.6-liter V8 but rides on a different chassis, for a more comfortable ride than the XD offers.
2017 Honda Ridgeline
Deal: Save with the Best Price Program (Details below)
There are not any lease or finance deals this August on our No. 1-ranked compact pickup, but you can still save money on the Honda Ridgeline by taking advantage of U.S. News and World Report’s Best Price Program, where buyers save an average of more than $3,200 off MSRP.
After a couple of years without the Ridgeline in its product line, Honda has brought it back for 2017. It’s more of a traditional-looking pickup than before, but it retains some unique Ridgeline features, including the in-bed trunk. Its tailgate not only lowers like in most trucks, it also swings open from the side like a normal car door, to give you easier access to the bed. Pricing for the Ridgeline starts at $29,475.
2016 Toyota Tacoma
Deal: Lease for $231 per month for 36 months with $2,630 due at signing in some states (Details below)
There aren’t many great lease or finance deals on the 2016 Toyota Tacoma this August, unless you live in the Southeast, where you can lease a Tacoma for four years for $281 per month, with just $281 due at signing.
Toyota’s also offering a $231-per-month lease for three years with $2,630 due at signing in the Southeast region. In other areas, use our Best Price Program to find the best deal on a new Tacoma.
The Tacoma is ranked No. 4 in the compact pickup segment, though it’s not far behind the leaders, and its off-highway performance is among the best in class. It also comes with one of the highest predicted reliability ratings in the class and a five-year/60,000-mile powertrain warranty.
Deal: 0% financing for 60 months plus $750 bonus cash (Details below)
GMC’s offering the best deal in the compact pickup truck class this August, with zero-percent financing for five years with $750 bonus cash on the 2016 GMC Canyon. The Canyon holds the No. 3 slot in our compact truck rankings, just behind the Chevrolet Colorado and Honda Ridgeline.
Just because the Canyon is considered a compact pickup doesn’t mean it’s not capable. In fact, the Canyon is larger than many of the full-size pickups from a dozen years ago, but it is smaller and more maneuverable than today’s full-size trucks. The Canyon is available with a four-cylinder diesel engine that gives it excellent EPA-estimated fuel economy ratings of 22 mpg in the city and 31 on the highway.
Deal: Lease for $269 per month for 39 months with $1,819 due at signing (Details below)
This August, you can lease the Chevrolet Colorado pickup, which is currently tied for the top slot in our compact pickup rankings with the 2017 Honda Ridgeline, for $269 per month for 39 months with $1,819 due at signing. The offer is good on the Colorado Crew Cab 2WD LT.
The Colorado has an available crew cab that is roomy enough for adults in both the front and back rows. The base engine is a 200-horsepower four-cylinder, but if you’re going to do any serious hauling or towing, you’ll want the power of the optional 305-horsepower V6 or the efficiency and torque offered by the available four-cylinder turbodiesel.
2016 Nissan Frontier
Deal: 0% financing for 36 months or 0.9% for 60 months (Details below)
The 2016 Nissan Frontier is the oldest vehicle in the compact pickup class, which means it’s already ripe for a good deal. This August, its value is even more appealing with a zero-percent financing deal for up to three years, or a 0.9-percent deal for five years.
Though it’s ranked at the bottom of our compact pickup rankings (largely due to its age), it is worth a look as an alternative to buying a used truck. By buying new, you get the security of a warranty, so you’ll know just what your costs will be for the first few years of ownership, without having to worry about paying out of pocket for major repairs.
Most of the finance and lease deals mentioned in this article expire around Labor Day, so you’ll want to jump on them soon. But before you do, check out our rankings of the best full-size and compact pickups to find the truck that works best for you. Before you sign on the bottom line, use our Best Price Program to ensure that you get the most from your hard-earned dollars.