Is President’s Day a Good Time to Buy a New Car?

Car shoppers are always on the hunt for a good deal. And why not? There’s nothing wrong with looking for a way to save money on a major purchase. But, as you might have guessed, most of this money-saving mindset revolves around zeroing in on the best time to purchase a new or used car. And, as it turns out, one of the best times to buy a car is just around the corner. With President’s Day looming, now might just be the perfect time for you to head to your local car dealership and buy that new car you’ve had your eye on for these last few weeks.

A U.S. flag flies over a car dealership.
A U.S. flag flies over a car dealership. | Daniel Acker/Bloomberg

President’s Day is one of the best holidays to shop for a new car

If you want to get the best deal possible on your next car, you’re going to need to time your purchase. Fortunately, President’s Day is one of the best holidays to shop for a new car. Real Car Tips reports that because President’s Day happens in February when sales are low, and inventory is high, chances are you’ll be able to get a good deal on the car of your choice.

According to U.S. News & World Report, several automakers are already offering excellent leasing and financing incentives on popular and highly rated vehicles. Some of these deals are already available and will run through at least March 1 too. For example, right now, you can lease a Honda CR-V with $0 down and a $330 monthly lease payment. That’s a pretty stellar deal.

RELATED: Get A Deal Now: Plenty Of New Surplus 2020 Cars Sitting At Dealers

The best President’s Day new car deals for 2021

The Honda CR-V isn’t the only new car deal happening this President’s Day either. CarFax reports that several brands are offering new car deals this President’s Day. General Motors is offering large cashback rebates on many Buick, Chevrolet, and GMC models. Ford is also offering cashback deals across its entire lineup. And Kia? It’s offering 0% financing for 60-66 months on many new models.

And if you aren’t ready to finance a new car? Automakers are offering President’s Day lease deals too. Hyundai is currently offering a $139 per month lease deal on the Elantra. You can also lease certain Kia models, including the Niro, Seltos, Soul, and the Sportage, for less than $200 a month and with as little as $2,500 down. Subaru is offering three-year lease deals across its entire lineup, too, with monthly lease payments ranging from $199 to $309 per month.

RELATED: The Most Complained About Aspects of Leasing

Is President’s Day a good time to buy a used car?

President’s Day isn’t just a good time to buy a new car. It’s also an excellent time to buy a used car. According to iSee Cars, President’s Day offers some significant opportunities for saving on a used car. In fact, iSee Cars reports that you’ll see 32.5% more deals than average when shopping for a used car on President’s Day.

Used car deals that will save you money

Several automakers are offering used car deals this President’s Day too. According to CarFax, Acura is offering 0.99% financing for 36 months on select Acura MDX and TLX certified pre-owned models. Meanwhile, Nissan is offering 1.9% financing for 36 months on all Nissan Altima, Rogue, Rogue Sport, and Sentra certified pre-owned models. Subaru is also offering 0.99% financing for a limited-term on all certified pre-owned Subaru models.

RELATED: Get a Good Deal on a New Car This Season By Choosing the Right Make and Model

Is it time for you to head to the dealership?

If you’re planning on buying a new or used car anytime soon, you might want to consider stopping by your local dealership. With so many new and used car deals being offered this President’s Day, odds are you’ll be able to score a decent enough deal on the car of your choosing.