Black Friday Car Deals Show Big Savings, but Should You Buy One? Jeff Bezos Says No
Black Friday and Cyber Monday are two of the busiest days for shopping during the year, but not every deal is worth it. Jeff Bezos, billionaire Amazon founder, says consumers should hold off on making big purchases — especially cars — during times of economic uncertainty.
“If you’re an individual and you’re thinking about buying a large-screen TV, maybe slow that down, keep that cash, see what happens,” Bezos told CNN in a recent interview, as reported by Jalopnik. “Same thing with a refrigerator, a new car, whatever. Just take some risk off the table.”
While that new car may be on sale right now, it doesn’t mean you can afford high monthly car payments, says Jalopnik. However, some people might not have a choice but to purchase a car now, and there may be ways to make the best of that situation.
Jalopnik noted that car deals around the holidays are typically the result of car dealers and automakers wanting to clear out inventory before the new year. But inventory has generally been low throughout 2022, as GOBankingRates recently reported, and discounts and rebates may be difficult to find on Black Friday.
Cars.com put together a list of several vehicles that are providing “higher-than-average incentives” through factory discounts for the holiday:
2022 Chevrolet Malibu
- Discount: $1,000
- Approximate price after discount: $23,500-$39,000
- Approximate savings: 3%-4%
The $1,000 cash savings is available through Nov. 30 across Malibu LS, RS, LT and Premium trims in all regions, says Cars.com, and shoppers who finance with GM can trade the cash savings for a rate of 4.29% for 60 months.
2022 Dodge Charger
- Discount: $1,000-$3,500
- Approximate price after discount: $30,500-$49,000
- Approximate savings: 2%-10%
Car shoppers can take advantage of cash savings of up to $3,500, depending on the region, on Charger’s lower SXT and GT trims. Those who finance with Dodge parent Stellaris can potentially get a rate of 6.49% for 60 months as well as up to $3,500 in cash. The deal ends Nov. 30.
2023 Jeep Grand Cherokee
- Discount: $1,000-$3,000
- Approximate price after discount: $42,000-$75,500
- Approximate savings: 1%-6%
Through Nov. 30, you can get a 2023 Grand Cherokee with savings of up to $3,000, depending on region and trim. Qualified shoppers can get 6.49% financing for 60 months with up to $3,000 in bonus cash if they finance with Stellantis.
Take Our Poll: How Long Do You Think It Will Take You To Pay Off Your Credit Card Debt?
How To Save Up for a Car: What You Need To Know
2023 Hyundai Elantra
- Discount: $750
- Approximate price after discount: $21,000-$27,500
- Approximate savings: 3%
Cars.com says the 2023 Hyundai Elantra is one of the most affordable cars on the market with up to $750 in cash savings through Jan. 3, 2023, in all regions surveyed. Qualified shoppers who finance with Hyundai can look forward to a 0% rate for 36 months.
More From GOBankingRates