8 Car Models That Will Have Deep Discounts in February 2024

2023 Ford Edge

Presidents’ Day, or Washington’s Birthday, is celebrated on the third Monday of February to honor past U.S. presidents. In the retail world, Presidents’ Day has been historically known for mattress sales, but this year, car dealers are all-in on the February long weekend action.

See: 5 American Cars That Are Better To Buy Used

Find: 6 Genius Things All Wealthy People Do With Their Money

If you’re looking for a car to buy or lease, you owe it to yourself to check out what’s on offer on Presidents’ Day 2024. However, while you might find some great deals, it’s important to approach a holiday sale with some trepidation.

Read: 10 New Cars to Avoid Buying in 2024

Sponsored: Owe the IRS $10K or more? Schedule a FREE consultation to see if you qualify for tax relief.

Should You Buy a Car on Presidents’ Day?

February is a slow month for retailers, which is why mattress companies took over the holiday for their blowout and extravaganza events. Other industries have followed suit by staging sales during the Presidents’ Day weekend in an attempt to separate eager customers from their cash.

Bargaining with a private dealer for a used or classic car is expected, but you should be haggling for the best price on new vehicles on the dealership floor, too. However, on the Presidents’ Day weekend, you might find the setting not as conducive to negotiation as you would on a regular weekend.

Too many people browsing means too little motivation for salespersons to go that extra mile to make a sale or to spend time with you in negotiation. More than likely, they’re already going to do well when there’s a steady stream of consumers roaming the lots.

That doesn’t mean you can’t take advantage. Many Presidents’ Day sales start a couple of weeks before the actual holiday, something that you should act upon before the 19th. Many people like to ease into a significant expenditure, so doing it at your own pace before the event date might be the best option.

Additionally, while some people live for butting heads with salespersons during dealership discount events, others might be more comfortable trying to finagle a bargain after the sales have ended. When the crowds have gone, you’ll find dealers are more motivated to spend the time and make you a great deal on par with those given out during the holiday weekend.

If you do choose to shop on Presidents’ Day, it’s important not let yourself get caught up in the commotion of the event itself. Everyone should be willing to compromise, but knowing what you want and sticking firm on the price you can’t exceed will get you the best deal or lease on a car.

You can save thousands on used cars and last years models, but for current purchase and lease deals, here are eight deals and discounts to keep your eye on around the Presidents’ Day weekend.

8 Presidents’ Day Car Deals and Discounts

1. Hyundai Elantra SE

The Elantra SE can be leased for $199 for 36 months with $3,499 due at signing, according to CarsDirect. For those wanting to buy, the choice of $1,000 in retail bonus cash or 4.49% APR financing for up to 60 months will be available until Feb. 29.

2. Nissan Ariya

Details are skimpy, but as Nissan phases out the once-popular Leaf EV, its replacement, the Ariya, will be available with 0% for six years at dealerships throughout the nation around Presidents’ Day, according to U.S. News & World Report. Check the official Nissan site during the next couple of weeks for the fine print and details.

3. Mazda CX-30

Car and Driver has a few knocks against the 2024 CX-30, but the overall first impression it leaves is largely positive. This fun, small SUV can be driven home at 1.9% APR for 60 months, plus no payments for 90 days. Check your state or local dealerships now for potentially even better discounts and terms, including incentive cash and conquest bonus cash.

4. Hyundai Santa Fe Hybrid

Another Hyundai, this time the affordable and spirited Santa Fe Hybrid, can be 0%-financed for up to three years plus an additional $1,000 off. Expires Feb. 29.

5. Honda Ridgeline

Apart from its college graduate bonus, military appreciation offer, loyalty program and special APRs, Honda will be offering 0.9% financing for up to three years on 2024 Ridgeline models, according to CarFax. Through Feb. 29, buyers can get the same deal on 2023 models (2.9% APR for 37-60 months, 3.9% APR for 61-72 months).

6. Chevrolet Colorado

According to CarsDirect, monthly lease payments for the 2024 MotorTrend Truck of the Year are cheaper in February and now sit at $369 per month for 36 months, with $3,639 due at signing. The 2023 model can be leased for $319 with $4,309 due at signing — and this includes a $1,500 discount for those transferring from another lease. Offers expire March 4.

7. Ford Edge

The midsize crossover class is a crowded one, but you could end up saving a lot of cash by going for the overlooked Ford Edge. February incentives include a maximum savings of $2,500 in customer cash and retail bonus cash to go with interest-free financing for 60 months.

8. Subaru Outback

The Outback has grown comfortably into its position as one of the most reliable do-it-all SUVs on the market. From now until Feb. 29, you can lock in any Outback trim at 1.9% APR for 48 months.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: 8 Car Models That Will Have Deep Discounts in February 2024