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Here Are the Best Car Deals for Memorial Day Weekend

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Memorial Day is often a great time to buy a new car. Not only do car manufacturers and dealers offer special promotions, but it's also close to the end of the month, so salespeople may be willing to offer more discounts to meet their monthly quotas.

In addition to special rebates and cash bonuses, you may also see promotional financing offers over the Memorial Day weekend. Many car manufacturers offer auto loans, and some offer annual percentage rates (APRs) as low as 0%.

The Best Auto Financing Deals for Memorial Day 2018

Don't expect to get any special financing deals on used cars. But if you can afford a new car, you could save more with promotional financing because you'll pay less in interest or even no interest at all.

Here are some of the top auto financing deals this Memorial Day:

CarAPRLoan TermRebates and Bonuses
2018 Lincoln MKC0%60 monthsUp to $4,000
2018 Ram 15000%36 monthsUp to $3,500
2019 Jeep Cherokee0%36 monthsUp to $2,000
2018 Chevrolet Cruze0%72 months$1,000
2018 Hyundai Elantra0%72 months$1,000
2018 Hyundai Sonata0%60 months$1,000
2018 Chevrolet Malibu0%72 months$500
2018 Nissan Altima0%60 months$500
2017 Volkswagen Golf0%72 monthsNone
2018 Kia Optima0%66 monthsNone
2018 Buick Regal TourX0%60 monthsNone
2018 Cadillac CT60%60 monthsNone
2018 Nissan GT-R0%60 monthsNone
2018 Nissan Versa0%60 monthsNone
2018 Subaru Outback0%48 monthsNone
2018 Fiat 500X0.9%36 months$1,750
2018 Kia Stinger0.9%75 monthsNone
2018 Mazda Miata RF0.9%72 monthsNone
2018 Honda Odyssey0.9%36 monthsNone
2018 Toyota 861.9%72 monthsNone
2018 Hyundai Kona1.9%60 monthsNone

Should You Take Promotional Financing or a Cash Bonus?

As you can see, some car manufacturers and dealers offer both a financing promotion and a cash bonus, but others require you to choose between the two.

While it may be tempting to take the cash now, some promotional financing deals are sometimes a better choice because they can save you more money over time.

For example, let's say you're buying a $25,000 car and you have two choices:

  • 0% APR for 72 months
  • $2,000 bonus plus a 3.5% APR for 72 months

If you take the financing deal, your monthly payment would be roughly $347, and you'd pay no interest over the life of the loan. But if you take the cash bonus deal, your monthly payment would be $355, and you'd pay $2,533 in interest—that's $533 more than the bonus. In this case, it'd be better to take the 0% APR deal.

If, however, the dealer offers you a $3,000 bonus instead of $2,000, you'd be better off taking the savings up front. Use an online auto payment calculator to do the math for your situation.

How to Qualify for Promotional Financing on Your Auto Loan

While it's exciting to think about getting a new car loan with no interest, it's important to keep in mind is that not just anyone can get these deals. You typically need to have excellent credit and an overall solid financial profile to qualify.

After all, the financing company is taking a huge risk by not charging little or no interest, and it likely won't take that chance if your credit history has even minor red flags.

As a result, it's important to make sure your credit is in order before you apply for one of these promotions. Here are a few steps you can take:

1. Check Your Credit Score

Your credit scores provide lenders with a snapshot of your credit history, so it's essential to have a good score. Check your credit scores and then compare it to the credit score ranges for those scores.

If your score isn't at least very good or excellent, you may have a hard time getting approved for a 0% APR promotion.

2. Review Your Credit Report

You can get a free copy of your credit report from each of the three credit reporting agencies every 12 months. Visit to order your reports and review them to determine if there's anything amiss. You can also get a free Experian credit report here on