With Black Friday fast approaching, keen shoppers will once again be on the lookout for the latest bargains. But what does this mean for those in the car market? Are Black Friday car deals easy to find?
In this article, we provide an insight into the unique world of Black Friday deals for cars and how you should approach them.
Table of Contents
Read on to find out:
- What Black Friday car deals are
- Who offers them
- The type of deals you can experience
- Our top 5 tips to finding suitable deals for you
- How to find out more about our Black Friday deals
What are Black Friday car deals?
A Black Friday car deal is a type of promotion that coincides around ‘Black Friday’ season, which typically occurs towards the end of November.
Although Black Friday car deals are available, they don’t work quite the same way as the big discounts you would see on Amazon, for example. These deals are offered by car dealerships, brokers, and leasing companies who use this event as an opportunity to clear out stock before the new year – which can often see a reduction in prices or other financial incentives to sweeten the deal.
At Motorfinity, we offer Black Friday priced deals to eligible front line workers all year round! A few of our latest offers include:
What is the best type of Black Friday car deals?
What constitutes as the best Black Friday car deals are generally down to personal requirements and preference.
However, the best Black Friday car deals are those that provide you with overall value, not just the most enticing discount. For this reason, there are different types of car deals on Black Friday that can include cash discounts, finance incentives and other great extras.
Some of the more common types of deals can include:
Price discounts
One of the more common Black Friday car deals is a cash discount on the vehicle’s price tag. Also known as the ‘out-the-door’ price, this goes beyond saving money on monthly payments as the base cost of the vehicle is reduced.
Example: A dealership or broker may offer a price discount of certain models of new cars.
What are the pros of this deal?
- Lower purchase price
- Better financing offers
- More affordable high-trim levels
Deposit contributions
Rather than reducing the ‘out-the-door’ price tag, a dealer or broker may offer deposit contributions on certain cars. This is tied to using their finance options (e.g. PCP or HP), with the contribution lowering the monthly price of these payments.
Example: A dealership or broker may contribute an extra £1,500 if you were to put a £2000 deposit down.
What are the pros of this deal?
- Lower purchase price
- More affordable high-trim levels
- Can be combined with other Black Friday incentives
0% or low APR finance options
Another great deal is 0% or low APR finance options. This involves using the manufacturer or broker’s lending programme such as PCP and HP and are exclusive from a bank or third-party personal loan.
Although you may be required to put down a sizeable deposit to attain these deals, it will be beneficial over the long term as you will be paying either little or no interest over the agreed term.
Example: A dealership or broker may offer 0% or low APR finance options if you were to put down a certain deposit amount.
What are the pros of this deal?
- Lower cost of borrowing
- Clarity over monthly payments
- Great short-term financing option
Part-exchange bonuses
If you’re looking to part-exchange your current vehicle for a new car, then part-exchange bonuses are an option to keep in mind.
This is where a dealership or broker will offer extra money for your car during a part-exchange transaction, which essentially raises the value of your car and potentially lowers the cost of your new one.
Example: You may be offered an extra £500 on top of what your car is worth when part-exchanging.
What are the pros of this deal?
- You can receive more than your car is worth
- You can put this extra bonus towards the deposit of a new car
- It saves time, rather than trying to sell your car privately
Leasing deals
Leasing can be a very viable option as it consists of potentially affordable monthly payments. Although you won’t own the vehicle and will be required to return the car upon the end of your lease, this approach can be cheaper than finance options such as PCP and HP.
Black Friday car lease deals can therefore offer competitive monthly costs, providing both a cost-effective and flexible option for motoring.
Example: You can potentially find lease deals that cost less than £150 per month.
What are the pros of this deal?
- Lower monthly payments
- Predictable monthly costs
- Great option if you want to drive a new car every few years
Model-specific clearances
Model-specific clearances can be prevalent with car deals for Black Friday. Whether this is because of a new model being due or an overstock of a particular model, these clearances can lead to a significantly discounted price that you should actively look out for!
Example: A new car model is about to be released, which leads to a dealership or broker reducing the price of their previous older model.
What are the pros of this deal?
- Significant discounts on price
- Potentially good entry point to higher trim-level
- Faster delivery due to already being in stock
Electric vehicle (EV incentives)
Although not a Black Friday deal per se, the Government offer an Electric Car Grant (ECG) that gives up to £3,750 off on new electric vehicles – providing that they meet certain criteria such as not being worth over £37,000 and being an eligible model.
What are the pros of this deal?
- Makes EVs more affordable
- Lower up-front costs
Our 5 top tips to finding suitable Black Friday car deals
Black Friday deals on cars can require more prep than simply buying a discounted fridge/freezer or games console. Even with a Black Friday deal, car prices are a substantial amount and require careful planning and consideration before committing to either purchase or lease
That’s why we’ve put together a fool-proof guide of our 5 tips to finding a suitable Black Friday car deal that you feel comfortable with.
Tip #1: Understand your budget and requirements
Firstly, you want to decide whether you wish to either:
- Purchase a new car outright
- Purchase with finance options such as PCP or HP
- Opt to lease
Once you’re clear on this, decide on the models and spec that fit your respective option. But remember, the more specific your preferences, the more likely it is that you’ll miss the best deals. Instead, be open to being more flexible on colour and trim to ensure you don’t miss out!
Tip #2: Do your own research
Next, conduct your own research by looking at different manufacturer and broker websites to determine what type of Black Friday car lease deals are available, such as:
- 0% APR
- Competitive lease deals
- Discounted price tags
- Model-specific clearances
- Electric vehicle incentives
In addition to this, ensure to be on the lookout for the model years that are being cleared out. This typically includes those that are outgoing along with those that are early arrivals.
Tip #3: Compare competitor deals
Once you gain a clear idea of the type of Black Friday car deals that are available, you should compare across different dealer and broker websites to determine which are best for you.
It’s also worth comparing across local dealers as different regions can often offer alternate incentives.
Tip #4: Prioritise timing
Timing is everything. And this is certainly the case where Black Friday car deals are concerned. These commonly occur towards the end of the year (October-December) as many dealerships are looking to clear their inventory.
So, if you have a car in mind, don’t wait too long as your dream car could easily drive by!
Tip #5: Negotiate wisely
If you find a car that suits your requirements, the final step is to negotiate wisely. First, look at what the same car is being sold for at other dealerships and brokers. This way, you can get a strong idea of whether the respective ‘deal’ is genuinely competitive.
But remember not to focus purely on one aspect such as monthly payments. You should also consider other crucial factors such as:
- Total cost
- Down payment
- Term length
- Interest rates
- Hidden fees
Be especially cautious of the final point as potential upsells and hidden extras can be added due to it being a ‘special deal’.
Discover Motorfinity’s Black Friday car deals
At Motorfinity, we offer brand new cars at a discounted price for eligible frontline workers – meaning that we have Black Friday priced car deals all year round. Even so, we currently have several standout Black Friday car deals that our team are happy to share with you!
Speak to a member of the teamFAQs
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Our nation's Armed Forces, Veterans, Emergency Services, NHS, Police and Prison Services, Education and Social Care sectors and more form our eligible audience.
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