Best New Car Incentives, Lease Deals for May 2022

Last Updated: May 18, 2022

May 2022 Car DealsThose looking to buy or lease a new car right now are in a frustrating position when it comes to getting a good deal. Semiconductor shortages have caused most automakers to limit production (particularly GM, Ford, Toyota, Honda, and Volkswagen). When supply is limited, the result is worse deals for car shoppers, reduced incentives, and higher prices for lease deals.

It has become normal for new car shoppers to be paying MSRP and even higher for vehicles these days. It's gotten so bad that GM and Ford have had to specifically ask dealers to stop price gouging or risk punishment. Even with all this however, it doesn't mean good deals aren't available this May - it always depends on the model, which is why you should really consider more than one vehicle when shopping for a deal. By getting bids from multiple dealers, you increase your chance of finding a "desperate" dealer that is willing to negotiate.

Adding uncertainty to all of this is ongoing world conflict. Gas prices have been rising, which causes car shoppers to switch from bigger gas-guzzling pickups and SUVs toward more fuel efficient vehicles, causing downward price pressure on the former and upward pressure on the later. We may also finally start seeing a decrease in demand for new vehicles as consumers are uncertain of the future, although I expect this to be a short-term thing.

Interest rates are on the rise, but several manufacturers are still offering 0% financing - some up to 72 months PLUS cash back in May. Many have also introduced loyalty bonuses, so if you do have a lease return coming up, this could put an extra $1,000 to $2,000 in your pocket.

Used car prices are still near record highs right now. This is great if you have a car you can sell or trade-in right now, but if you need to buy one at the same time, it kind of washes away the extra profit. The best case scenario would be to sell your used car now, and wait a few months to buy a new one.

My advice right now: If you don't need a new car anytime soon and have the luxury of waiting, then start compiling price bids now but push your purchase out a few months. We may see increases in manufacturer incentives once we start getting back into a more normal pace of production and as new car inventory starts building back up.

(Note: incentives can vary greatly by region; these figures may not be accurate in your local area. Always verify with your local dealers)

Best Car Deals

TrueCar is the best overall service to quickly get pre-negotiated price quotes and lease offers from local Car dealers.

Car Incentives By Make for May 2022

MakeRebates, Incentives and Lease Deals for May 2022
Best Acura Deals May 2022
Best Alfa Romeo Deals May 2022 Average cash back rebates of $800. 0% APR up to 48 months available.
Best Audi Deals May 2022 Average cash back rebates of $7,500.
Best BMW Deals May 2022
Best Buick Deals May 2022 0% APR up to 36 months available.
Best Cadillac Deals May 2022 Average cash back rebates of $1,100. 0% APR up to 36 months available.
Best Chevrolet Deals May 2022 Average cash back rebates of $800. 0% APR up to 60 months available.
Best Chrysler Deals May 2022 Average cash back rebates of $2,700. 0% APR up to 36 months available.
Best Dodge Deals May 2022 Average cash back rebates of $2,000. 0% APR up to 72 months available.
Best Fiat Deals May 2022 Average cash back rebates of $2,500. 0% APR up to 72 months available.
Best Ford Deals May 2022 Average cash back rebates of $1,000. 0% APR up to 72 months available.
Best Genesis Deals May 2022
Best GM Deals May 2022 Average cash back rebates of $800. 0% APR up to 60 months available.
Best GMC Deals May 2022 Average cash back rebates of $800. 0% APR up to 36 months available.
Best Honda Deals May 2022
Best Hyundai Deals May 2022 Average cash back rebates of $500. 0% APR up to 72 months available.
Best Infiniti Deals May 2022
Best Jaguar Deals May 2022
Best Jeep Deals May 2022 Average cash back rebates of $2,700. 0% APR up to 48 months available.
Best Kia Deals May 2022 Average cash back rebates of $1,000.
Best Land Rover Deals May 2022
Best Lexus Deals May 2022
Best Lincoln Deals May 2022
Best Maserati Deals May 2022 Average cash back rebates of $2,300.
Best Mazda Deals May 2022
Best Mercedes Deals May 2022
Best Mini Deals May 2022 Average cash back rebates of $700.
Best Mitsubishi Deals May 2022 Average cash back rebates of $600.
Best Nissan Deals May 2022 Average cash back rebates of $600.
Best Porsche Deals May 2022
Best Ram Deals May 2022 Excellent lease deals on 1500. Average cash back rebates of $5,100. 0% APR up to 48 months available.
Best Subaru Deals May 2022
Best Tesla Deals May 2022
Best Toyota Deals May 2022 Average cash back rebates of $500. 0% APR up to 72 months available.
Best Volkswagen Deals May 2022
Best Volvo Deals May 2022

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