The bad news for car companies this year? Sales will be down. The good news for car buyers? Incentives and discounts, they are abundant. In other words, Black Friday 2019 just might be the best time of the year to buy your new set of wheels. Here, the best Black Friday car deals and everything you need to know to score one.
First things first: How should you prepare?
As any seasoned Black Friday shopper knows, you need to do your homework. Here are some tips:
- Know your credit score and what interest rate you qualify for; the lowest interest rates are usually offered to those with the best credit.
- If you’re considering a lease, know the monthly payment and down payment you can afford—but don’t tell the salesman. You want to find out what the car costs, not what he will sell it to you for.
- Also know how many miles a year you need to budget for, since you’ll pay for mileage over a certain amount. And keep in mind that lease deals are often only on certain models, so the car or trim level you want may not be available.
- Deals are often an either-or, not combined. So you can pick the cash-back option or the promotional interest rate but not both.
- And they’re typically earmarked for the outgoing models (2019) rather than the new ones (so, not 2020).
- Some models may be excluded from the sale, so don’t peg all your dreams on one exact outcome!
- Line up a loan ahead of time so you’re not forced to use the dealer’s financing.
- Know the value of your trade-in. You might do better selling it independently.
- Know the models and features you’re interested in and don’t settle for something that isn’t perfect for you. A deal isn’t a deal if the car doesn’t fit your lifestyle.
- Research the sales and incentives in advance. Some dealers will add extra incentives, and some geographic regions may have better deals than others.
- Give yourself some options and be prepared to walk away if the salesperson insults you or tries to sell you something you don’t want.
Now the good stuff: What are the best deals?
Acura: Special lease pricing on the ILX and MDX or 0.9 to 1.9 percent financing through Acura Financial Services.
BMW: Credit of $1,500 to $4,500 (the pricier the car, the more the discount) or 2.99 percent financing with up to $1,000 credit. There are deals on almost every model, but some models have better deals than others.
Buick, Chevrolet and GMC: We love that GM’s brands regularly offer everyone friends-and-family pricing, essentially a discount from the dealer’s invoice. That discount adds up to about 20 percent below MSRP.
Cadillac: Offers vary, but buyers will generally find special lease prices or a $1,000 discount and zero percent financing.
Fiat, Chrysler, Jeep, Dodge and Ram: The corporate parent of these brands is also offering a friends-and-family type discount across the board. Most models qualify and discounts can be substantial, from up to $5,000 on the diminutive and diminutively priced Fiat to $10,000 on the Ram 1500 pickup.
Ford: Fans of pickup trucks and sedans will find great deals, up to 20 percent off select models and trims. (Explorers and Mustangs are excluded.)
Genesis: This brand is already an exceptional deal, and for Black Friday, Genesis will waive the down payment and first month’s payment.
Honda: This perennial favorite brand doesn’t often use the “S” word, and deals are limited to reduced financing. Don’t get discouraged, though; Honda is offering good financing on all models.
Hyundai: The Korean carmaker known for giving you more features for the money is combining cash discounts and special finance rates—up to $2,000 and zero percent on some models—to incentivize consumers to drive one of their pretty cars or SUVs.
Infiniti: With special financing paired with up to $4,000 cash back, we’re bettering there will be a lot more Infiniti owners on the road this winter.
Jaguar: This very stylish, and now much more reliable, brand is offering zero percent financing and up to $1,500 cash back on some models. And leases are finally available on the award-winning all-electric i-Pace.
Kia: This Korean brand has been stirring things up recently and is offering cash back of $2,500 and zero percent interest for 66 months. Just don’t look for deals on the Telluride; the popular SUV is selling so briskly that some dealers are asking for (and getting) a premium over the MSRP.
Land Rover: Low-rate financing and special lease deals define the specials available on Land Rover and Range Rover SUVs, even the very popular Velar and the newly redesigned Evoque.
Lexus: This brand celebrates “December to Remember” every year, and this year’s incentives include special financing and special lease pricing.
Lincoln: If you’ve been lusting after the Aviator, this could be the time to do something about it with a special lease price or super-low interest on a loan.
Mazda: This brand is offering up to 90 days with no payments on new cars and cash-back loyalty awards for current Mazda owners.
Mercedes-Benz: The company is celebrating winter by offering 1.9 percent financing across the board for almost all their elegant models and is even offering this on certified pre-owned cars.
Mini: With 3.49 percent financing and up to $1,000 back across the board, this could be the time to get into that fun little cutie-pie car.
Mitsubishi: This “small batch” carmaker is offering zero percent financing or $500 cash back on its array of models.
Nissan: Offers vary by model, but buyers can get zero percent financing or up to $3,000 back on the Rogue and more than $11,000 back on the Titan pickup truck.
Subaru: The “Share the Love” campaign is designed to help local pet shelters. But Subaru wants to help buyers, too, offering low or zero percent financing on models across the board, including the 2020 Subaru Outback.
Toyota: With cash back of up to $1,950 on some models or special financing of 2.9 percent, there could be a Toyota in your driveway soon.
Volvo: The “Sweden’s Greetings” sale event will waive your first car payment and, on some models, offer cash allowances of up to $1,750 and special financing. Pretty sweet deal!