Memorial Day is traditionally one of the top times to get a deal on a car, but this year is a little different.
The ongoing semiconductor chip shortage coupled with the lingering effects of previous production disruptions brought on by coronavirus lockdowns has led to low inventories and created a seller's market that's been driving average transaction prices sky high in recent months.
Nevertheless, a survey of car shoppers by Cars.com found that 43% of them still plan to buy a vehicle during the holiday weekend, with 61% of them looking for brand new vehicle.
However, there are deals to be had if you look hard enough, even on popular models, and there are a few huge ones if you bundle all of the incentives available.
|GM||GENERAL MOTORS CO.||32.19||+0.43||+1.35%|
|F||FORD MOTOR CO.||11.32||+0.19||+1.71%|
|TM||TOYOTA MOTOR CORP.||155.47||+1.30||+0.84%|
According to iseecars.com, the 2021 Chevrolet Bolt EV qualifies for up to $12,000 worth of incentives and the 2021 Nissan Leaf $7,500. Both are $1,000 cheaper if you can find a 2020 model on the lot. Meanwhile, a 2020 Chevrolet Suburban can be had with $6,750 on the hood.
Here are a few other cash incentives available on top-selling models in dealer inventory that run through the weekend: