Here Are The Best Cash-Saving Coronavirus New-Car Deals Offered This Month

With new-vehicle sales stalling due to COVID-19 complications, automakers are pulling out all the proverbial stops with some of the richest cash and financing incentives we’ve ever seen to help beleaguered dealers move the metal. 

Cash rebates are especially plentiful and bountiful this month. We identified no fewer than 28 vehicle lines from the 2020 model year that are being offered with cash-back deals at $4,000 or more, and topping off at a whopping $9,000. 

Perhaps even more importantly, there are more zero-percent financing deals being offered than in the history of new-car incentives, with terms as long as 84 months. Unless you’re paying cash or a rebate being offered is especially rich, you can save a ton of cash over time with an interest-free loan, especially on costlier models. According to Edmunds.com, interest-free auto loans accounted for 25.8 percent of financed purchases in April, compared to just 4.7 percent a month earlier, and they’re likely to show an increase once May transactions are tallied.

As if that’s not enough, some automakers are helping buyers who may be facing uncertain financial fortunes with special assistance programs. Many mainstream brands are allowing buyers to delay payments for 90-120 days. Ford is going a step further by deferring the first payment for three months and making the first three payments. Nissan is likewise deferring payments for three months and is covering the first two payments on select models.

However, automakers’ special financing terms and delayed payments are limited to buyers having stellar credit histories, and only on loans made via the companies’ captive finance divisions.

For their part, expect local dealers to be particularly flexible in negotiations to help spur slowed sales. What’s more, many dealerships are making it refreshingly easy, not to mention pandemic proof, to buy a new vehicle in these perilous times. While many dealers will work with shoppers face-to-face (wearing masks and maintaining social distancing, of course) by appointment, many now literally let customers conduct transactions without having to set foot in a showroom. Shoppers now can virtually test drive multiple cars from their desktops, can get quotes and make offers via dealers’ websites, and sign the paper work at home with no-contact delivery for added peace of mind.

We’re featuring the richest new-vehicle deals below. All are for 2020 models and generally expire on June 1. While many of these are national offers, be aware that automakers’ incentives often vary from one part of country to another to address local supply and demand issues, and some apply only to certain trim levels within a given model line. Check with local dealers and log onto automakers’ websites with your Zip Code entered to see what’s being offered in your area on the specific model and trim level in which you’re interested.

Best New-Vehicle Purchase Deals For May

• Buick Encore: $4,500 cash back, or 0.0% financing for 84 months (excludes 1SV trim).
• Buick Envision: $4,700 cash back, or 0.0% financing for 84 months (excludes 1SV trim).
• Buick Enclave: $4,500 cash back, or 0.0% financing for 84 months.
• Buick Regal TourX/Sportback: $5,500 cash back.
• Cadillac Escalade: $9,000 cash back.
• Cadillac XT4: $5,000 cash back, or $1,500 cash back plus 0.9% financing for 72 months.
• Cadillac XT5: $6,000 cash back, or $1,500 cash back plus 0.9% financing for 72 months.
• Chevrolet Bolt EV: $8,500 cash back, or 0.0% financing for 84 months with deferred payments for 120 days.
• Chevrolet Equinox: $4,750 cash back, or 0.0% financing for 84 months with deferred payments for 120 days.
• Chevrolet Silverado 1500: Up to $8,500 cash back (Crew Cab Custom with the Max Trailering Package; it’s otherwise $6,000), or 0.0% financing for 84 months with deferred payments for 120 days.
• Chevrolet Tahoe: $4,750 cash back, or 0.0% financing for 84 months with deferred payments for 120 days.
• Chevrolet Trax: $3,500 cash back, or 0.0% financing for 84 months with deferred payments for 120 days.
• Dodge Charger/Challenger: $3,050-$7,970 (based on trim horsepower) cash back, or 0.0% financing for 36 months on some trims.
• Dodge Durango: Up to $4,750 cash back (varies by trim), or up to $750 and 0.0% financing for 36 months.
• Dodge Journey: Up to $5,000 cash back (varies by trim), or 0.0% financing for 72 months.
• GMC Sierra 1500: Up to $6,500 cash back (varies by trim), or 0.0% financing for 84 months with deferred payments for 120 days.
• Jeep Grand Cherokee: Up to $4,250 cash back, or up to $2,250 cash and 0.0% financing for 36 months (varies by trim level and region).
• Jeep Renegade: Up to $4,250 cash back or up to $1,500 cash, and 0.0% financing for 36 months (varies by trim level and region).
• Kia Sorento: $4,000 cash back, or 0.0% financing for 75 months with deferred payments for 120 days.
• Kia Sedona: $4,000 cash back (L or LX $3,000 cash back), or 0.0% financing for 66 months with deferred payments for 120 days.
• Kia Optima/Optima Hybrid: $4,000 cash back (Special Edition or LX $3,500 cash back), or 0.0% financing for 75 months with deferred payments for 120 days.
• Nissan Murano: Up to $6,250 cash back, or $1,500 cash plus 0.0% financing for 36 months.
• Nissan Titan/Titan XD: $4,000 cash back, or $2,000 cash plus 0.0% financing for 60 months with deferred payments for 90 days and first two payments free.
• Ram 1500: Up to $4,500 cash back, or $2,000 cash plus 0.0% for 36 months or 0.0% for 72 months with deferred payments for 90 days.