New-car shoppers may find some relief from high prices this weekend with a number of Labor Day car deals. Unlike the month-long incentives, the best Labor Day car sales are only available for a limited time. For example, Swedish brand Volvo is offering up to $1,250 off its entire 2022 lineup, but only until September 7.
Likewise, Ford is offering a $1,000 bonus for 5 days only on select SUVs here in California. The 2022 Ford Explorer ranks among the best deals this weekend, with the option to stack the $1,000 discount with 2.9% APR financing for 60 months. To put that into perspective, we don’t see any Labor Day offers from Toyota.
Although there are fewer offers due to a shortage of chips, our Labor Day offer coverage has found some head-turning offers. For example, Jeep is offering up to $2,000 off the Grand Cherokee Overland. Truck buyers can get 0% financing for 72 months on the RAM 1500 and receive no payments for 90 days until September 6.
Buying a new Nissan, Kia, Hyundai or Mazda? We don’t see any benefit to buying a car this weekend. The same goes for luxury brands like BMW, Mercedes-Benz and Lexus. That said, placing an order now can give buyers a way to get a discount if they’re willing to wait a bit for the car they want.
This is because many brands offer price protection programs in case their MSRP prices increase or the incentives dry up. For example, Ford is offering a $500 bonus on 2023 vehicle orders along with the ability to lock in current interest rates for up to 180 days. This could provide a level of insurance for buyers affected by inflation.
EV buyers may want to think twice before buying or leasing. That’s because the Inflation Reduction Act removed a large number of electric cars and plug-ins from a federal electric vehicle tax credit. Volkswagen, Toyota, Subaru and others have been hit hard by the change. For example, rental prices for the Toyota bZ4X have increased by more than $100 per month.
Explore the best Labor Day car deals