Stimulus Checks:Best August Truck Deals for New Car Stimulus Shoppers
Many of us don't need much stimulus to consider buying a new truck, and now that the federal government is considering a second round of coronavirus stimulus checks that may be worth up to $1,200, it is probably not a bad idea to get serious about a truck purchase. After all, with the incentives and rebates that many truck makers are offering this month, your savings could be unprecedented.
However, inventories of the most popular trucks are getting thinner by the day, so if you are looking to find a good home for that August stimulus check, you might learn there is no better time than right now to pull the trigger on a new truck purchase.
On the pages that follow, we detail current offers for the midsize, light-duty full-size, and heavy-duty full-size trucks that rank highest in the J.D. Power Initial Quality Study (IQS) and the J.D. Power Automotive Performance, Execution, and Layout (APEAL) Study. Because some deals might be regionally available, discounts in your area might be different. But these examples are representative of the kind of savings you can expect.
2020 Ford Ranger: Midsize Pickup
Through August, a wide variety of offers are available for the 2020 Ford Ranger. In financing, Ford is offering 0.9% for 60 months or 6.9% for 84 months. On the leasing front, an XLT SuperCrew model is available for $239 per month for 36 months with $3,239 due at signing. A $1,000 cash savings off the suggested retail price is yet another offer.
The Ranger is available in XL, XLT and Lariat trims with prices starting at $24,410. The truck topped all midsize pickups in the latest J.D. Power Initial Quality Study and was second in the J.D. Power APEAL Study in a tie with the GMC Canyon.
2020 Honda Ridgeline: Midsize Pickup
As part of the Honda Summer Clearance, the 2020 Ridgeline midsize pickup can be financed at 1.9% for 24 to 60 months or 2.9% for 61 to 72 months. There is no national lease promotion, but special lease deals are available in some areas of the country.
The 2020 Honda Ridgeline is offered in Sport, RTL, RTL-E, and Black Edition trims. Sport and RTL trims are front-drive, while RTL-E and Black Editions are all-wheel-drive, and all Ridgelines are crew cabs. Pricing for the base Sport model starts at $33,900. The Ridgeline ranked number one in the J.D. Power APEAL Study and number three in the J.D. Power Initial Quality Study among midsize pickups this year.
2020 Ram 1500: Large Light-Duty Pickup
The Ram 1500 full-size light-duty pickup truck is the subject of a wide variety of offers, though truck availability for most automakers is tight this summer. Despite the inventory situation, the offers on the Big Horn crew cab include a $6,000 cash rebate, 0% financing for 72 months, or 0% financing for 36 months plus up to $4,000 in cash. In many areas, you can lease the Big Horn for $347 per month for 36 months with $2,750 due at lease signing. Similar offers are available up and down the Ram 1500 lineup.
The 2020 Ram 1500 comes in Tradesman, Big Horn, Lone Star, Laramie, Rebel, Laramie Longhorn, and Limited trims. Base price for the Tradesman model is $32,145. The Ram 1500 was the top-ranking full-size light-duty pickup in the J.D. Power 2020 APEAL Study.
2020 Toyota Tundra: Large Light-Duty Pickup
This month, most 2020 Toyota Tundra models are offered with 1.9% financing for up to 60 months or with $2,500 in customer cash rebates. In many areas of the country, you can lease a 4-wheel-drive Tundra Crew Max SR5 for $369 per month for 36 months with $3,899 due at signing.
The full-size Tundra pickup topped the 2020 J.D. Power Initial Quality Study rankings in its segment. The truck is available in SR, SR5, Limited, Platinum, 1794, and TRD Pro trim levels. The base SR has a starting price of $33,575, while the popular SR5 has a starting price of $35,245. The well-equipped Limited starts at $42,270.
2020 Ford F-Series Super Duty: Large Heavy-Duty Pickup
Ford is offering 3.9% financing for 60 months on the 2020 F-Series Super Duty F-250 and F-350 trucks, and 7.9% for up to a nearly unprecedented 84 months. A cash rebate of $500 is also available, and thanks to the Ford Promise plan, you can buy or lease a Super Duty through Ford Credit and if you face financial hardship due to a loss of employment, you can return it within one year of purchase. (The Ford Promise also applies to the Ford Ranger, above.)
Noted for their towing prowess, Ford F-Series Super Duty pickups are available as F-250, F-350, and F-450 models in XL, XLT, Lariat, King Ranch, and Platinum trims. Prices start at $34,035 for the F-250, $35,550 for the F-350, and $50,210 for the F-450. The Super Duty was the top-ranked vehicle in the class in the 2020 J.D. Power Initial Quality Study and ranked second in APEAL.
With the strong possibility that a sizable government stimulus check is on the way, considering a new truck purchase this month could be an excellent financial decision. Not only are you looking at federal stimulus money that may never come again, but you are also likely to find very attractive cash-back rebate, lease, and financing offers just as we've outlined on the preceding pages.
These are not the only truck deals available, and you might get a better bargain on some models that are not on this list. However, looking for a great deal on a vehicle that is at or near the top of the charts on our J.D. Power IQS and APEAL studies should give you added peace of mind. And since dealers' stock of new 2020 trucks is dwindling as we write this, it makes sense to shop now if you want to participate in this unprecedented opportunity.