The Optima is on its way out, and it's prime for a good deal.
Sam Bendall/RoadshowIt's hard to believe we've already arrived at Labor Day weekend. While this Labor Day will be a lot different, due to the coronavirus pandemic, automakers are still ready to sell you a new car. And as in previous years, it's one of the best times to score a deal. This year's seen some mighty incentives on various models to take advantage if you're in the market.
Below are the best Labor Day new car deals for shoppers, thanks to pricing analysis from TrueCar, and sorted by the vehicle's average manufacturer suggested retail price before any savings, starting with the least expensive vehicle. Do note MSRP does not include a vehicle's destination charge, nor taxes.
Mazda CX-3
According to TrueCar data, the CX-3 sells with an average MSRP of $22,596, and with Labor Day incentives, buyers can save $3,322 with the incentives Mazda plopped on the hood of its smallest crossover.
Kia Optima
One of the only sedans to make the best list, the Optima carries an average MSRP of $25,088, and with the weekend deals, buyers can nab the car with $5,452 in savings on average.
Ford EcoSport
It's not my favorite subcompact crossover by a long shot, and the CX-3 is a better deal, but Ford's little crossover still comes with nice deals attached to it. Typically, the EcoSport sells with an MSRP of $25,849, but you can take one home for $21,681, based on the incentives data.
Hyundai Kona
Yet another subcompact crossover, the Kona is a fine choice, and for Labor Day, you'll find an average of $3,420 in incentives applied to the vehicle. The typical Kona costs $26,236, per the average MSRP.
Dodge Journey
Yep, Dodge still sells the Journey, though it's set to depart soon. In the meantime, if you really want one, the brand's placing an average of $4,902 on the crossover. The typical Journey sold comes with an average MSRP of $27,089.
Ford Fusion
Only the second sedan to make the list, the Fusion is ripe for deals since it's officially out of production. Once they're gone from dealer lots, there won't be any others to choose from. Labor Day deals lead to an average incentive bundle of $4,176 from an average MSRP of $27,281.
Hyundai Sonata
Oh, look, another sedan. It's the third and final passenger car on the list and comes with $4,018 worth of incentives attached. I'd venture this isn't the 2020 Sonata, rather the remaining 2019 models. But you never know. The average Sonata costs $29,846, based on the MSRP data, but that can drop far lower with the savings.
Volkswagen Tiguan
Now we're into the list of larger vehicles, and naturally, they're more expensive. The average Tiguan buyers take home costs $30,879, but average incentives of $3,355 for Labor Day can help out big time.
Ford Escape
The slippery little Escape features average incentives of $4,582. Considering people are, on average, paying $31,002, there's the potential for a nice deal on a competent compact crossover.
Chevrolet Blazer
The Blazer folks go home with most often may cost $41,420, but with Labor Day incentives worth $5,817 on average, the midsize crossover could be a lot more affordable this weekend.
Cadillac XT4
General Motors' luxury division coming out strong with an average of $7,486 worth of incentives for its compact crossover. On average, shoppers can take 16% off the average MSRP, which stands at $46,915.
Chevrolet Suburban
With the new Suburban just starting to trickle into dealerships, it's time to move the old ones. Chevy's incentives on the big SUV are are $7,102 on average. The average Suburban sold costs $66,122, so there's potential to take a bite out of the final cost.
Ford Expedition
Another big ol' SUV, the Expeditions sold typically cost $69,744, but TrueCar data shows the average incentives for Labor Day are $8,205.
Best Labor Day New Car Deals
| Make and Model | Avg. Incentive Amount | Increase In Incentive Amount MoM | Avg. MSRP | Avg. Savings off MSRP | Avg. Lease Payment | Avg. Finance Payment |
|---|---|---|---|---|---|---|
| Mazda CX-3 | $3,322 | 9% | $22,596 | 15% | $227 | $334 |
| Kia Optima | $5,452 | 6% | $25,088 | 22% | $284 | $461 |
| Ford EcoSport | $5,241 | 16% | $25,849 | 20% | $314 | $416 |
| Hyundai Kona | $3,420 | 7% | $26,236 | 13% | $297 | $389 |
| Dodge Journey | $4,902 | 2% | $27,089 | 18% | $316 | $516 |
| Ford Fusion | $4,176 | 10% | $27,281 | 15% | $321 | $437 |
| Hyundai Sonata | $4,018 | 9% | $29,846 | 13% | $327 | $491 |
| Volkswagen Tiguan | $3,355 | 7% | $30,879 | 11% | $382 | $455 |
| Ford Escape | $4,582 | 6% | $31,002 | 15% | $369 | $455 |
| Chevrolet Blazer | $5,817 | 3% | $41,420 | 14% | $411 | $592 |
| Cadillac XT4 | $7,486 | 8% | $46,915 | 16% | $530 | $632 |
| Chevrolet Suburban | $7,102 | 3% | $66,122 | 11% | $805 | $885 |
| Ford Expedition | $8,205 | 6% | $69,744 | 12% | $721 | $893 |
Before you walk into a dealership, I've rounded up a few other Labor Day car buying tips, thanks to the gurus at CarGurus. Following this advice could help you save some stress, and possibly score an even better deal.
- Walk in with financing: Credit is tighter amid the coronavirus pandemic. The car shopping site told Roadshow to try obtaining financing online before getting too far into the process. It can save you a headache (and a lot of time) if you're not approved for the rate you'd like at the dealer.
- Your trade-in is more valuable than ever: The coronavirus has put a crunch on new and used car inventories, so dealers will likely be prepared to shell out a little more than before if a trade-in is part of your new car deal. CarGurus experts told us shoppers this weekend could receive record values for their vehicles.
- Think about contactless shopping: The pandemic forced automakers to think outside the box and move quickly. In response, the vast majority of major car brands have rolled out home delivery options and you may be able to buy a car without ever stepping foot in a dealer. See if your local dealer's willing to work with you to stay safe and healthy.
Discuss: Best Labor Day car deals for shoppers
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