Best New Car Incentives and Deals

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The auto industry is very hot right now. Coming out of the pandemic lockdowns, many people have some money saved up. So it seems like a good time to consider buying a new vehicle. To foster spending, many carmakers are filling the market with special lease deals, financing offers, and cashback offers designed to persuade buyers to pull the trigger on a new ride. The current deals might not be as generous as they were during the peak of the pandemic, but they are still very worthy of your attention.

Unless the economy shifts suddenly, the incentives probably won’t be any better than they are right now in the next several months. So if you’ve been thinking about getting a new vehicle, this could be your best chance to get a great deal this year. Because auto brands vary their special incentives deals by region, check what is being offered in your area. That said, this roundup is a good look at the incentives and deals being offered nationwide.

Ford

Ford has a variety of interesting deals and incentives this month as it puts its best foot forward this summer. The 2021 Ford Explorer midsize SUV is a case in point. The current lease deal is $356 per month for 36 months with $3,988 due at lease signing. Alternatively, customers can purchase the Explorer with 1.9% financing for 60 months with $1,000 in cashback. The full-size 2021 Ford Expedition SUV has a purchase option with a 5.9% interest for 84 months. If you’d rather lease, you could have an Expedition for as low as $538 per month for 36 months, with $5,767 due at signing.

The 2021 Ford Bronco Sport can be purchased with 1.9% financing for 60 months with $500 in bonus cash. A Ford Mustang EcoBoost fastback is available for lease at $349 per month for 36 months with $3,189 due at lease signing. The deals vary by location, so consult a dealer or ford.com to see what is available in your area.

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Toyota

Toyota is offering an array of special low-interest financing deals this month on many of its most popular models. The 2021 Toyota Corolla compact sedan can be purchased with 1.9% financing for 60 months. Or you can get $1,000 in customer cash. And the Corolla Hybrid offers the same low-interest deal. The 2021 Camry can be purchased with 0% financing for 36 months or 1.9% financing for 60 months.  The Camry Hybrid is being offered with $1,000 in customer cash.

The Toyota RAV4 compact SUV features 2.9% financing for 60 months. Or you can arrange your own financing and get $750 in discount cash. The Toyota Highlander midsize SUV has a $750 cashback offer, but a better deal is the Highlander Hybrid — 2.9% financing for 60 months. Remember to check with your local dealership about the offers available in your region. 

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Chevrolet

Chevrolet’s promotions this month include some long-term 0% financing deals, among the most generous in the market right now. The 2021 model-year Chevy Equinox SUV features 0% financing for 72 months. A lease on the Equinox could be as inexpensive as $228 for 39 months with $2,050 due at signing, but it is a low-miles lease.

The midsize Chevy Traverse SUV can be purchased with 0% financing for 72 months as well. Other offers include $1,500 in cashback or a $390-per-month lease for 36 months with nothing due at signing. The stylish 2021 Trailblazer SUV is available for $219 per month for 39 months with $2,159 due at signing. Full-size pickups are in relatively short supply, but the 2021 Chevy Silverado has a very interesting deal — no payments through the summer and a 2.49% interest rate for 72 months plus $2,000 in cash. The Malibu midsize sedan has a $1,000 cash discount or a $219 per month lease for 24 months with $3,089 due at signing. 

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Honda

Honda is putting a special emphasis on low-interest-rate incentives on a wide variety of its models this month. The 2021 Honda Pilot midsize SUV offers 0% financing for 48 months, 0.9% financing for 60 months, and 1.9% for 72 months. The 2021 Honda Passport SUV features 0% financing for 36 months, 0.9% for 48 months, and 1.9% for 60 months. The 2022 Honda Odyssey minivan has 1.9% financing for 48 months, 2.9% for 60 months, and 3.9% for 72 months.

The Honda Ridgeline pickup has 1.9% financing for 48 months and 2.9% for 60 months. The 2021 Civic hatchback has 1.9% financing for 60 months and 2.9% financing for 72 months. The Honda CR-V compact crossover has 1.9% financing for 48 months, 2.9% for 60 months, and 3.9% for 72 months. Since offers are regional, it is wise to check with your local dealer to see what is available in your area.

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Nissan

Nissan has both no-interest financing and hot lease deals on tap to entice consumers this month. With an all-new version of its Frontier midsize pickup trucks due to arrive soon, the outgoing Frontier is heavily discounted. Customers can lease the Frontier for as little as $279 per month for 36 months with $3,529 due at lease initiation. Or you can purchase it with 0% financing for 36 months.

The Sentra compact sedan has a 0% financing deal for 36 months, as does the Rogue compact SUV. Both vehicles are fresh in the market. Customers can lease a 2021 Rogue for $219 per month for 36 months with $5,039 due at lease inception. Nissan is also offering a $7,500 discount on the 2021 model of its LEAF electric car. The Murano midsize SUV can be purchased using 0% financing for up to 60 months with a $3,000 in cash discount. Or it can be leased for $289 per month for 36 months with $3,279 due at signing, another is $500 in customer cash. Offers are regional, so check with your local dealer to confirm what is available.

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Jeep

This month, Jeep has some compelling lease offers, some no-interest financing deals, and the opportunity to defer first payments for the first 90 days on some models. The 2021 Jeep Cherokee can be leased for $219 per month for 36 months with $3,969 due at signing. Or you can defer purchase payments for 90 days. The Jeep Compass also offers 90 days of deferred payments or a $406-per-month lease for 36 months with $3,799 due at signing. Leasing the Cherokee seems the better course there.

Going bigger, the Grand Cherokee SUV can be leased for as little as $249 month for 36 months with $3,939 due at lease initiation. An alternative for the Grand Cherokee, which will soon be replaced by a new-generation model, is 0% financing for 48 months plus $3,250 in customer cash. The 2021 Jeep Wrangler is offered for $345 per month for 36 months with $3,860 due at signing; an alternative is 0% financing for 36 months. To find the offers available in your area, it is wise to contact your local dealer.

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Hyundai

Eye-popping low-interest financing and lease deals on some great vehicles headline Hyundai’s incentives this month. The Hyundai Elantra, the North American Car of the Year for 2021, can be purchased with 0% financing for up to 60 months. Buyers can defer the first payment for 90 days and get $500. The lease offer on the Elantra is $159 per month for 36 months with $2,899 due at signing.

As good as that is, the incentives on the 2021 Sonata midsize sedan might be even better. Customers can purchase a Sonata with 0% financing for up to 60 months, with payments deferred 90 days and $500 in cash. Or the Sonata can be leased for $169 per month for 36 months with $2,899 due at signing. The Hyundai Kona SUV features 1.9% financing for 60 months. The all-new 2022 Tucson compact SUV can be leased for $219 per month for 36 months with $3,599 due at signing. Some incentives might not be available in your area, so check with your local Hyundai dealer.

Photo by Hyundai

Kia

Kia is offering a wide array of lease and purchase incentives on brand-new 2022 model year vehicles this month. The 2022 Kia Sportage compact SUV has 0% financing for up to 60 months, or it can be leased for $179 per month for 36 months with $3,299 due at signing. The 2022 Stinger sports sedan offers 0% financing for up to 60 months. It can be leased for $319 per month for 36 months with $3,999 due at lease inception.

The Telluride midsize SUV was the winner of the 2020 North American Utility of the Year award. Now a 2022 model-year Telluride can be purchased with 1.9% financing for 60 months. Or it can be leased for $339 per month for 36 months with $3,499 due at lease signing. The new 2022 Carnival minivan offers 1.9% financing for 66 months. Or it can be leased for as little as $319 per month for 36 months with $3,499 due at signing. Additional offers are available regionally, so check with a local Kia dealer to see what is offered in your area.

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Subaru

Subaru is continuing its long-running and popular 0% financing deal on some of its models, though the length of loan terms has shrunk on most of them. A no-interest rate for up to 63 months is currently being offered on the 2021 Legacy midsize sedan. The 2021 Outback crossover, Impreza compact sedan, Ascent crossover, and Crosstrek compact SUV also have 0% interest financing, but for shorter periods.

The 2021 Impreza remains a hot deal. It can be leased for $199 per month for 36 months with $1,999 due at lease signing. Another deal that might even be better is the $199-per-month 36-month lease on the Legacy midsize sedan with $2,879 due at signing. The Crosstrek can be leased for $229 per month for 36 months with $2,429 due at signing. Some of these deals might be regional, so check with your Subaru dealer to see what is available where you live.

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