Best Car Deals for the End of the Year 2023
We've gathered all of December's best car deals for 2023, as well as advice for finding the best end of year car deals and the best vehicle for you.
Eden Shamy
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Hyundai December car deals. Photo: Hyundai
Feels Like The Good Old Days
It’s the holiday season, and that means automakers should be offering their best car deals for the end of the year. Should is the operational word here; this tradition took a hiatus during the pandemic, with supply chain shortages and then the interest rate run-up. But with interest rates easing and supplies returning, you can finally let your holiday gift be an incredible financing deal or ride into 2024 in a new car purchased with thousands of dollars cash back. We’ve gathered all of the best December car deals for 2023, as well as advice for finding the best end-of-year car deals and the best vehicle for you.
Related: Our Ultimate Gift Guide for Car Lovers
The best car deals are out there. Photo: Scotty Reiss
How Do You Find the Best Car Deals?
Car finance rates have been skyrocketing over the past two years. As of this month, the average interest rate on 5-year car loans has now climbed over 7%. New car leases in 2023 averaged nearly $600 a month. But this December, you can get rates as low as 0%, thousands of dollars in cash back, and lease deals under $300 a month! Of course, these amazing December car deals vary across zip codes, and the dealership closest to you may not have the specific model you are looking for. After checking out our list of the best end-of-year car deals, make sure to research car dealerships near and far to find the best model and the best deal for you. Also keep in mind:
- The better your credit score, the better the deal
- Ultimately, the dealer sets the price, not the manufacturer. Not all dealers participate in these end-of-year car deals
- December car deals may come with specific terms and requirements such as down payment amounts, credit rating, and number of months that can be financed.
- Annual mileage allowance may affect your lease
- Most leases require payments at signing, which can be substantial
- Most end-of-year car deals listed below expire on January 2
Related: Buying or Leasing: Which is Better for Families?
If you search well enough, you can find the best car deals on luxury vehicles, too. Photo: Scotty Reiss
Important Advice – and WARNINGS – from The Car Chick
LeeAnn Shattuck, an automotive expert known as “The Car Chick,” has years of car-buying experience. LeeAnn even owns a car-buying service and teaches a car-buying course, so she knows all about the dealership’s dishonesty and junk fees. “Dealers have been using bait and switch advertising techniques for decades, and it drives me nuts,” LeeAnn said. The U.S. recently passed the CARS Rule, which stands for “Combatting Auto Retail Scams,” to combat these bad-faith business practices. While these car deals for the end of the year may seem amazing, LeeAnn warned that consumers need to be careful this season and even when the rule goes into effect. “I believe that better transparency will help protect consumers,” she said. “However, buyers will still need to beware and read all of the fine print before they sign anything!” Unfortunately, the CARS Rule will not go into effect until July 30, 2024, but for now, dealers are on notice that consumers and the FTC are looking out for scams.
Related: New FTC Rules Prevent Car Dealer Scams
Which Automakers Are Offering the Best December Car Deals?
According to LeeAnn, car brands have been suffering from an inventory shortage “across the board” that has reduced the number of December car deals. Toyota has the least amount of inventory. “If you want a Toyota Sienna minivan or a Grand Highlander Hybrid, for example, be prepared to wait,” LeeAnn said. “Some dealers are still charging over sticker for those in-demand vehicles.” However, she highlighted brands like Chrysler, Dodge, Jeep, and Ram that have the most inventory overall. Additionally, you can get great end-of-year car deals on the Ford Mach E, “as Ford is struggling to sell them” as enthusiasm for electric cars has cooled, LeeAnn said. Still, there are some good deals on some fantastic cars as the year winds down. Here’s a look.
The BMW i5 eDrive 40. Photo: Scotty Reiss
BMW
Experience luxury and performance with these December car deals on 2024 BMW models. BMW enthusiasts can now take advantage of a remarkable 2.99% financing for 60 months on premier vehicles such as the 2024 BMW X3, X7, BMW i5, and iX. The 2024 BMW i7 comes with an even more enticing deal, boasting a 1.99% finance rate for 60 months.
13 mpg on Main Street, 21 mpg on the interstate, and $50 at the pump per half-tank of Premium. Photo: Cameron Aubernon
Dodge
Rev up the excitement with $2,000 cash back on the 2023 Dodge Challenger or the 2023 Dodge Charger, in the SXT or GT trims. Get even more cash back on the 2023 Dodge Durango, which comes with an impressive $3,250 cash-back offer.
King of the sand! I could barely walk on this river bank, but the Raptor R handled it with screaming finesse. Photo: Erica Mueller
Ford
This December, Ford is ushering in the festive spirit with great financing deals on some of their most iconic vehicles. Get 0% financing for 36 months on the 2023 Ford Explorer and the 2023 Escape, or 1.9% financing on the 2023 Ford F-150. The 2024 Ford Expedition is also available with 3.9% financing for 36 months. If you’re looking to lease, the 2023 Ford Maverick offers $331 per month for 48 months and $2,831 due at signing.
The Honda Ridgeline just got a little bit more rugged with the TrailSport package. Photo: Connie Peters
As the year draws to a close, Honda is offering a remarkable 2.9% finance rate for 48 months on the 2024 Honda Accord and Accord Hybrid. The Accord also has an attractive leasing option at $299 per month for 36 months with $3,699 upfront. Perhaps the best Honda deal is 0.9% financing on the 2023 Honda Ridgeline for 36 months. Honda is also offering 3.9% financing for 48 months on the 2024 Honda HR-V and the 2024 Honda Civic. Many reviewers have described the new Honda Civic as the best compact car on the market, and you can even lease one at $269 a month for 36 months and $3,599 due at signing.
If you’re in the market for a plugin hybrid, both the Santa Fe PHEV and the Tucson PHEV (pictured here) are worth putting on your list to test drive. Photo: Jill Robbins
Hyundai
If you’re in the market for a Hyundai, then you’re in luck because Hyundai has some of the best car deals of the season! The 2023 Hyundai Santa Fe is available with an enticing 0% financing for 60 months, coupled with $1000 bonus cash on the SEL trim. Alternatively, lease the Santa Fe for $269 a month for 36 months with a $3,999 down payment. For those eyeing the 2023 Hyundai Sonata, $1,750 cash back awaits. Or you can opt for the SE trim with a 3.29% finance rate for 48 months plus an additional $500 cash back. The 2024 Hyundai Tucson presents buyers with a dilemma between 0% financing for 60 months or a tempting $2500 cash back, while a lease option is also available at $251 per month for 36 months with $4,011 due at signing. Electric enthusiasts can buy the 2023 Hyundai Ioniq 5, featuring a 0.99% financing rate for 48 months and an additional $2500 cash back.
The absolutely gorgeous Jeep Wrangler Rubicon 392 in Earl Grey. Photo: Allison Bell
Jeep
This December, Jeep is making the spirit of adventure even more enticing with fantastic deals on their lineup. Get $1,000 cash back when you purchase a 2023 Jeep Cherokee, or level up to the 2024 Jeep Grand Cherokee with the choice of $3,500 cash back or 3.9% financing for 36 months. The compact 2023 Jeep Renegade is available with a low 1.9% financing rate for 36 months, accompanied by $500 bonus cash. Alternatively, customers can opt for $1,000 cash back. For those seeking the iconic Wrangler experience, the 2024 Jeep Wrangler 4-door Sport is available for lease at $289 per month for 42 months with $5,549 due at signing.
The Kia EV6 GT is sleek and sexy, a very fun car to drive. Photo: Liv Leigh
Kia
The 2023 Kia EV6 presents buyers with an exceptional choice between 0.9% financing for 48 months or a substantial $7,500 cash back, making eco-friendly driving even more appealing. Meanwhile, the 2024 EV6 is not to be overlooked, offering $3,500 cash back. The 2023 Kia Sorento also has a very low finance rate this season of 1.9% for 48 months. Purchase the 2023 Kia Forte for 2.9% financing for 48 months, or lease the 2024 Forte for $209 a month for 24 months and $2,799 due at signing. There are also multiple great deals on the 2023 Kia Niro EV this season, including 0.9% financing for 48 months or $3,500 cash back on the Wind and Wave trims. Alternatively, the Wind trim is available for lease at $249 per month for 36 months with $4,499 upfront.
The 2024 Mazda CX-90 in Artisan Red. Photo: Scotty Reiss
Mazda
Mazda is offering an incredible 0.9% financing for 36 months on the 2024 Mazda CX-90, the 2023 Mazda CX-30, and the 2023 MX-5 Miata. If you’re leaning toward the 2023 CX-30, you can also opt for $2,000 cash back on Turbo trims. Or you can lease the 2024 CX-30 for $280 per month for 36 months with $2,999 due upfront. Lastly, the 2024 Mazda CX-5 offers a remarkable 0% finance rate for 60 months, enhancing the allure of owning this popular SUV.
We got so many compliments on this color, especially driving it July 4th weekend! Photo: Erica Mueller
Nissan
Nissan has so many end-of-year car deals with great finance rates plus bonus cash. The 2023 Nissan Titan is available with 0% financing for 60 months, and customers opting for the SV, Pro4, or Platinum trims can enjoy an additional $500 bonus cash. The 2023 and 2024 Nissan Altima in the SR VC-Turbo trim come with a 0% financing rate for 36 months, and current Nissan owners and lessees can benefit from $500 cash back on the 2023 Altima. For those eyeing the 2023 Nissan Armada, get 1.99% financing for 36 months plus $1,000 bonus cash. The 2023 Nissan Pathfinder and 2023 Rogue offer a 2.9% financing rate for 60 months and an extra $500 cash back on the Rogue. Electric vehicle enthusiasts can explore the 2023 Nissan Ariya and 2023 Nissan Leaf, both available with a 2.9% financing rate for 36 months. Alternatively, lease the Leaf at $269 per month for 36 months with a $2,669 upfront payment.
The Ram 1500 is a very popular truck – and it’s on sale right now. Photo: Erica Mueller
Ram
The 2024 Ram 1500 steals the spotlight with an impressive $4,500 cash back offer. There are two appealing options for the 2023 Ram 1500 — 3.9% financing for 72 months, or an attractive $4,000 cash back. The 2023 Ram 2500 offers a similar choice between a 3.9% financing rate for 72 months or $2,500 cash back.
Front angle of the 2022 Subaru Outback Wilderness. Photo: Kim Croisant
Subaru
The 2023 Subaru Solterra is available with a 0% financing rate for 72 months. You can also get 2.9% financing for 48 months on both the 2023 Subaru Ascent and 2024 Subaru Outback.
The 2023 Toyota Prius Prime in black looks almost like a sports car. Photo: Connie Peters
Toyota
Toyota welcomes the holidays with enticing December car deals on their popular models. The 2024 Toyota Corolla and 2024 RAV4 come with a festive offer of $1,000 cash back. For those seeking the rugged capabilities of the 2023 Toyota Tacoma 4×2 models, Toyota offers a 2.99% financing rate for 60 months. If you’re interested in an electric vehicle, the 2023 Toyota Prius Prime is available for lease at $269 per month for 36 months, with $3,999 due at signing. Isn’t it nice when traditions return?
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