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The Best New Car Incentives in February: Low APRs and Great Lease Deals

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Last updated Feb 4, 2024

Last year’s deals are continuing into 2024 as automakers look to sell remaining 2023 inventory. Plus, some great deals are here for 2024 models. Despite rising interest rates, car buyers can still get a very low interest rate with manufacturer incentives. Here’s a look at the best car deals in February.

👉 How to Finance a Car Like a Pro: The Ultimate Auto Financing Cheat Sheet

The Best Auto Loan Rate Offers

Seeking to finance your new vehicle with a low interest rate? Given that the average APR for new car loans is now over 9%, securing a low rate isn’t easy. However, these brands are stepping up to the plate with tantalizing APR offers this February. Be sure to check offers for your ZIP code, as these represent the latest new car incentives on the East Coast. 

👉 Slash Your Car Loan Interest: Expert Tips for New and Used Car Buyers

0% Financing! Nissan, Ford, Hyundai Bring the Deals

Nissan finance deals

What do automakers do when they seriously need to sell some cars? They bring on zero percent financing. In a serious effort to attract buyers, the following models are all advertised for 0% APR in February: 

2023 Nissan Ariya

2023 Nissan Titan

2024 Hyundai Tucson

2023 Hyundai Santa Fe

2024 Ford Edge

2023 Subaru Solterra EV

This month, multiple Nissan models join Hyundai with zero percent APR offers. Subaru’s first EV is also offered at 0% APR, but very slow charging makes it a tough car for road trips.

0.9% APR Offers: Mazda, Kia, Honda Financing Offers

Mazda new car incentives

Get your hands on these models with 0.9% APR for qualified buyers. Most low APR offers are for remaining 2023 model year inventory. It’s great to see some excellent Mazda deals this month. The Kia EV6 is one of the fastest-charging EVs on sale for under $50,000, but it doesn’t qualify for the Made-in-America requirements of the federal EV tax credit.

These are the models advertised with 0.9% APR:

2023 Honda Ridgeline

Mazda CX-30

Mazda CX-5

1.9% APR Offers: Subaru and Chevrolet

new car deals in February 2023

In February, Chevrolet is joined by the popular Subaru Outback as the manufacturers offering 1.9% APR financing deals. Considering that the average new car APR is now over 8%, this is a steal.

Chevrolet: Silverado 1500, Equinox, Blazer, Trailblazer

Subaru Outback

👉 Here’s every automaker’s best financing offers this month.

The Best Cash Offers in February

Ram finance offers, truck deals this month

Chevrolet: No payments for 90 days. The Equinox, Blazer, Trailblazer and Silverado qualify for between $750 and $2,750 in cash incentives, depending on model and trim.

Chrysler: Chrysler Pacifica – $3,000 cash allowance; Chrysler Pacifica Plug-In Hybrid – $3,000 cash allowance

Dodge Charger and Challenger: $2,000 cash allowance

GMC Sierra 1500: Up to $3,250 cash incentive

Hyundai: $1,750 cash offer for the 2023 Sonata; $1,500 cash offer for the 2024 Tucson; $1,750 cash offer for the 2023 Santa Fe

Jeep: $1,000 cash incentive for the Grand Cherokee

Kia: $3,750 cash offer for the all-electric and very fast-charging Kia EV6. Note: The EV6 does not qualify for federal tax credits.

Ram 1500: Up to $4,000 cash allowance

👉 See ALL of the best APR and cash offers from every major automaker

The Best Lease Deals in February

Tesla Model Y lease deals

When it comes to new car incentives, more shoppers are considering a lease as MSRPs soar ever higher. These are the best lease deals this month.

Sedans

With the Hyundai Elantra at $239 per month with $3,499 due and the Honda Accord at $279 per month for 36 months with $3,399 due, sedan lovers have attractive options. The stylish Kia K5 lease starts at $289/month for 24 months with $3,199 due. One of the best selling sedans of all time, the Honda Civic, starts at $259/month for 36 months with $3,399 due at signing.

SUVs & Crossovers

In February, SUV lease deals provide compelling offers for families. With very high interest rates, now is a great time to consider leasing, but only if you get a good deal.

General Motors is bringing the deals in February. A Chevrolet Equinox lease starts at $269 per month for 24 months with only $1,789 due at signing. Lease the GMC Acadia at $249 per month for 24 months with $3,869 due. 

The hot-selling Hyundai Palisade’s lease starts at $381 per month for 36 months with $4,009 due at signing. Or, lease the Kia Telluride for $449 per month for 36 months with $3,499 due.

The 2024 Buick Envista is a subcompact SUV with by far the most modern design of any Buick in ages. Lease an Envista for as low as $179/month for 24 months with $3,819 due.

Trucks

For truck fans, the Silverado 1500 4WD LT at $429 per month for 24 months with $5,209 due is a strong contender. But the best truck lease this month is from Ford.

Lease a F-150 XLT Hybrid: $315/month for 39 months with $6,195 due.

Ram 1500 Classic: $531/month for 36 months, with $4,500 due

See all of this month’s best truck offers here.

Electric Vehicles

Tesla’s Supercharger network is by far the most convenient and widespread charging network in America. For that reason, we recommend a Tesla EV for first-time EV drivers. Hyundai and Kia EVs are also great options with their ultra fast charging capabilities, but finding a reliable charger can be a hassle.

Tesla Model 3 RWD: $329 per month for 36 months with $4,500 due

Tesla Model Y RWD: $399 per month for 36 months with $4,500 due

Kia EV6: $319/month for 36 months with $4,999 due

Ford Mustang Mach-E: $452/month for 39 months with $4,932 due

BMW i4: $499/month for 36 months with $4,599 due

👉 See ALL of the best lease deals from every major automaker

Free Car Buying Help Is Here!

Car buying cheat sheet

Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!

3 Comments

  1. Bob Bishop

    The pictures of the traverse is the 2024 model not the 2023

    Reply
    • Justin Fischer

      Thanks! We corrected the image with a 2023 model.

      Reply
  2. Corliss

    will you consider adding PayPal for the monthly subscription in addition to the credit cards?

    Reply

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