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

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Last updated May 7, 2024

Take one look at this month’s incentives, and one thing becomes clear: big incentives are back, finally! Whether you’re buying or leasing, here’s a look at the best car deals in May of 2024.

👉 Also: Here’s why Memorial Day car sales will be big!

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 rare offers.

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

0% Financing! Mazda Kia, and VW Bring the Deals

Mazda financing offers

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, all of the following models are all advertised for 0% APR in May: 

2024 Mazda CX-50, CX-30, CX-5, and CX-90

2024 Kia EV9 and EV6

2023 Nissan Ariya

2024 Ford Edge

2024 Volkswagen Taos

2023 Subaru Solterra EV

This month, multiple Mazda models join a host of others 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: Buick, GMC, and Honda Trucks

Silverado financing offers

Get your hands on these models with 0.9% APR for qualified buyers. In May, the Silverado 1500 is the best deal on this list. At today’s truck prices, 0.9% APR will save you A LOT of money in interest!

These are the models advertised with 0.9% APR:

Buick Enclave, Envision, Encore

2024 GMC Terrain

2024 Chevrolet Silverado 1500

2023 Honda Ridgeline

1.9% APR Offers: Acura, Subaru, Chevrolet, and GMC

new car deals in may 2024

In May, Chevrolet is joined by Subaru, Nissan, and others as the manufacturers offering 1.9% APR financing deals. Considering that the average new car APR is now approaching 10%, this is a steal.

Chevrolet: Silverado 1500, Equinox, Blazer, Trailblazer

2023 and 2024 GMC Sierra 1500

2024 GMC Acadia

2023 Nissan Rogue

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

The Best Cash Offers in May

Ram finance offers, truck deals this month

Cash is king in a high-interest environment. These are the new cars, trucks, and SUVs with the best cash incentives in May.

2023 Kia EV6: $7,500 cash offer

Dodge Charger and Challenger: $3,750 cash allowance; $3,600 cash allowance for remaining 2023 Dodge Durango

Hyundai: $2,500 off the 2024 Santa Cruz

Jeep: 2024 Grand Cherokee: $5,500 cash discount

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 May

best lease deals 2024

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

Honda Accord lease deals

Sedans may be out of style, but they’re the most affordable. Check out these sedan lease offers for May 2024:

SUVs & Crossovers

SUV lease deals this month

This month, 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.

Trucks

best truck lease offers

For truck fans, Ram is offering the best truck lease deals this month. Here are the best lease offers in May:

  • GMC Sierra 1500 Crew Cab 4WD Elevation: $399 per month for 24 months with $4,209 due
  • Honda Ridgeline: $369 per month for 36 months with $3,799 due
  • Ford F-150 XLT: $532/month for 48 months with $5,494 due
  • Ram 1500 Tradesman Crew Cab 4×4: $279/month for 42 months with $4,309 due

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

👉 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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