Does Cyber Monday Have Better Car Deals Than Black Friday?
Hannah DeWitt
· 4 min read
With inventory shortages and outrageous price hikes,
car buying
this year has definitely been more difficult. The semiconductor chip shortage isn't over yet, though automakers are getting more generous with deals. Black Friday has historically been a good time to buy a car, but what about Cyber Monday?Cyber Monday has only gained popularity in recent years due to the uptick in online shopping. Automakers have started leaning more towards virtual showrooms and online financing pre-approval, especially during the pandemic in 2020. However, Cyber Monday car deals still aren't quite a thing in the automotive world, according to
CarsDirect
.
Do auto dealerships offer Cyber Monday car deals?
A quick online search doesn't pull up any automakers that host deals exclusively on November 29.
Chevy
offers the next best thing with its $500 Cyber Cash coupon. It's an online code you can find that will give you $500 cashback on a new Chevy vehicle purchase or lease.With rebates, that can give you up to $1,500 off a new Chevy pickup and $3,000 on some Equinox models. However, the folks at CarsDirect weren't fans of this offer because it requires your personal contact information.
Other than that, it seems Cyber Monday car deals at dealerships are scarce on the ground. You may have another option for Monday discounts, though.
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Black Friday deals are still valid on Monday
MORE: Discount of $1,000 Available for Out-Of-Stock Ford Vehicles
Most automakers offer their Black Friday specials throughout the entire month of November, both online and in-person.
CarsDirect
says that Lincoln currently has several ongoing deals, including a $1,400 lease discount on the popular Navigator SUV. Although Chevy's Cyber Cash deal is somewhat of a letdown, the automaker still has other specials. If your heart is set on a Chevy Equinox, they're eligible for 72 months of 0% APR. Costco members can maximize their savings even more with a $1,000 incentive.
Mercedes-Benz offers 2.99% APR for the first three years. Both Hyundai and Ford don't require any payment for 90 days, and select Ford models boast 0% APR. Jeep is also offering these incentives for the Grand Cherokee, though you have to commit to a seven-year loan.
It's also important to remember that these are only manufacturer incentives. Dealerships must honor them, but they can also offer additional savings. Do some research on your area to see which dealerships have the best specials. Some dealerships don't showcase their unique deals online, so you might want to drive around and scope out the signage too.
Is it better to buy on Black Friday or wait until Monday?
MORE: Does Financing a Car Affect Insurance Rates?
Most Black Friday car deals don't expire until the end of the month, with a few even extending until early January. That means you don’t have to stress about missing out on the good deals if you don’t find any good Cyber Monday car deals.
However, it's always better to buy a vehicle near the end of the month. Dealers are hurrying to meet their monthly quotas, especially in November and December before customers exhaust their shopping budgets. Depending on their inventory, dealers might be more open to negotiations on Cyber Monday or the following Tuesday.
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