President's Day Is One of the Best Times to Buy a Car
On the third Monday of February every year, the U.S. celebrates President’s Day. The federal holiday originated in 1885 to honor the first U.S. president George Washington. Today, President’s Day is meant to recognize all presidents, but many Americans see it as a paid day off from work.
However, retailers don't get the day off on President’s Day because the date is also time for big holiday sales, especially for car dealerships.
Is Presidents Day a good time to buy a car?
Car dealerships offer some of their best sales on President’s Day each year. January and February can be pretty slow for sales in many industries, including auto sales. Consumers are letting their wallets recover after the holidays while waiting for their tax returns to roll in.
This President’s Day on Monday, Feb. 20, isn't an exception. Several automobile brands are offering deals that day, which provide money off the manufactured suggested retail price (MSRP) or low financing.
Here are 15 President’s Day car sales for 2023 that you should check out.
Buick – 3.9 percent financing for a limited time plus no payments for 90 days on the Encore, Encore GX, Envision, and Enclave.
Chevrolet – Up to $2,000 back and 2.99 percent financing for 60 months on the Silverado.
Ford – 0 percent financing for 72 months on the Ford Edge
Ford – 0.9 percent financing for 60 months plus $1,000 cash on the F-150 truck
Honda – 1.9 percent financing for 48 months on the Passport, Pilot, and Ridgeline
Hyundai – 0 percent financing for 60 months plus $17,000 cash on the Nexo Fuel Cell
Jeep – 0 percent financing for 36 months plus up to $2,000 cash on the Compass
Kia – 2.9 percent financing for 48 months on the Forte, Niro EV, Soul, or Sorento
Mazda – 0.9 percent financing for 36 months on the CX-30, CX-5, CX-50, CX-9 and MX-5 Miata
Mini – 3.99 percent financing for 60 months on the Mini Cooper, Clubman, and Countryman
Mitsubishi – 2.9 percent financing for 60 months on the Outlander
Nissan – 0 percent financing for 36 months on the Rogue
Dodge Ram – 2.9 percent financing for 72 months on the 1500 truck
Subaru – 2.9 percent financing for a limited time on the Impreza, Legacy, Crosstrek, Forester, Outback, Ascent, and WRX.
Volvo – Up to $10,250 off MSRP on the XC90
Is now a good time to buy an electric vehicle?
If you’ve dreamed of owning a Tesla or other electronic vehicle, President’s Day this year may also be a good time to take the plunge. As part of the Inflation Reduction Act signed by President Joe Biden in August 2022, a new EV tax credit gives up to a $7,500 credit if you purchase a plug-in hybrid or fully electric vehicle.
To qualify for the tax credit, the EV you buy must cost under $55,000 for most vehicles and under $80,000 for vans, SUVs, and pickup trucks. Qualifying EVs also must have their final assembly in North America, so foreign car manufacturers like Kia, Toyota, and Hyundai aren’t eligible.