President's Day Could Be a Great Time to Buy a New Car or Truck

President's Day brings the first sales weekend of the year, and with it some possibly juicy deals.

Car Dealerships Take Sunday Off
Boston Globe—Boston Globe via Getty Images

For car dealerships, President's Day is simply another excuse to put out big banners, cheesy radio advertisements, and make their staff show up extra early to work—much like Labor Day, Memorial  Day, and so forth. But, with auto sales historically slumping in January, it also brings the year's first opportunity to get back on black.

Depending on the kind of vehicle you're looking for, President's Day may present a good opportunity to snatch a good deal. According to CNBC, buyers looking for a Ford Fusion may have better chances of finding a smoking deal compared to folks looking for a Ford Expedition or any other SUV as there is an exponential demand for the latter—ot to mention that there may still be languishing 2017 Fusions, and dealers will be extra-motivated to make room for 2018 models.

Ford

Vehicles under high demand like the Ford Expedition will most likely see little to zero incentives.

Manufacturer and local dealer incentives may also prove President's Day to be a worthy holiday to buy a vehicle as both automakers and dealers are anxious to kick off the year in good fashion. The average new-vehicle incentive was $3,657 in the month January, but Edmunds predicts that such amount will rise to motivate February buyers. Nonetheless, the average incentive was a whopping $4,300 in December 2017.

Like most things in life, what works for some buyers may not work for others, and it's important to research current offers and evaluate all possible options before signing on the dotted line. Folks looking for a Mercedes-Benz G-Wagen won't see much of a benefit from shopping over President's Day, but those in the market for a Ford Mustang certainly could. And if for some reason you can't find a jaw-dropping deal this weekend, just remember that there are still many holidays ahead of us.