What’s the Best New-Car Deal for Fourth of July 2023?

The traditional summer car-shopping season that peaks with Independence Day has been upended in recent years by the pandemic and a microchip shortage that’s kept consumers home and vehicles off lots, but as we detailed in our roundup of best deals for June, the worst of it seems to be behind us. That hasn’t trickled down to shoppers more broadly just yet, but if the deals we kept digging for and found below are any indication, hope is on the horizon.

Related: Here Are the 10 Cheapest New Cars You Can Buy Right Now

In addition to the vehicles we featured in our June deals story above, many of which still apply through the holiday weekend, we’ve augmented the list with two sedans and an SUV herein to illustrate it’s not impossible to find some cash-back savings if you’re in the market for the right vehicle. Read on for the details, and stay tuned if your shopping has only just gotten started: It’s possible better deals are coming in the fall.

2023 Chevrolet Malibu

• Factory discount: $750
• Approximate price after savings: $26,000-$35,000
• Approximate factory savings: 2%-3%
• Offer ends: July 31

Clinging on to a class that’s fallen well out of favor, the Chevrolet Malibu is a four-door family sedan last redesigned for 2016 that’s in need of either an overhaul or an outright discontinuation. Regardless of its future, the present for shoppers willing to consider one comes with solid savings in a stingy market: Through the end of July, Chevy’s offering $750 off all four trims of the Malibu, equivalent to as much as 3% off. Unlike our other offers, however, this one doesn’t come with any special financing.

2023 Hyundai Elantra

• Factory discount: $750
• Approximate price after savings: $22,000-$28,500
• Approximate factory savings: 3%
• Offer ends: July 5

Unsurprisingly, discounts are easy to come by with the unpopular sedan body style, but what you lose in cargo space and social cache, you can make up for in the Elantra compact sedan that, like the Malibu, is also offering $750 off all gas-only trims except the performance N variant — though Hyundai is only offering the deal through July 5. In lieu of the cash, the brand is offering anywhere from 0.99% financing for 36 months up to 5.99% for 60 months, trim and region depending. The financing offers are also good through July 5.

2023 Jeep Compass

• Factory discount: $1,500-$4,512
• Approximate price after savings: $30,500-$40,500
• Approximate factory savings: 3%-10%
• Offer ends: July 5

Far and away the biggest fireworks on the incentives front this Fourth of July come from Jeep and its compact Compass SUV. Though the brand reliably appears in these pages for best deals and you can find cash offers for other models in its lineup, Jeep is offering both $1,500 off as a baseline and 10% off all trims but the base Sport; that equates to as much as $4,512 off a fully loaded High Altitude. The fine print does, somewhat oddly, point out that the “dealer determines vehicle price,” so whether or not the 10% applies may vary from location to location based on trim, availability and other factors, but for what we could find online, at least the possibility exists for higher trims. Otherwise, financing of 1.9% for 36 months or 4.9% for 60 months are available in most regions we surveyed. All deals run through July 5.

How We Look for Deals

To help car shoppers find the best deals for Independence Day, we lead with cash offers available to shoppers at large, not those that require financing with the automaker or having certain qualifications (e.g., military or college-graduate discounts, loyalty or conquest bonuses, etc.). In calculating the overall percentage discount and pricing after incentives, we focus on the vehicle’s price range from the cheapest incentives-eligible trim level with no factory options to the priciest eligible trim with all factory options. We include the destination charge in such pricing, but we exclude a few other items: taxes and fees, which vary considerably by region, and dealer accessories, which vary considerably by automaker.

Because these are factory discounts, they should be available to all participating dealers. As such, use them as the starting point for negotiations, not a reason to skip haggling altogether.

Incentives data come from automakers’ websites. Remember, our numbers are current as of publication for the markets we survey (generally Atlanta, Chicago, Denver, Houston, Los Angeles and New York). They reflect advertised customer discounts, not unadvertised factory-to-dealer cash. Discount financing typically requires qualifying credit, too, and incentives may vary by region and trim level; automakers may also change them later in the month. In sum: Your discounts may vary, so check with your local dealer for specifics.

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