A new 2026 Chevy Equinox EV LT costs $29,890 out the door after this month's $8,750 manufacturer incentive. A two-to-three-year-old used Equinox EV is listing for $28,000 to $31,000 right now. That near-zero pricing gap is what Memorial Day weekend has done to the used car market, and it matters even if you're not shopping EVs.
The holiday itself isn't the story. Over 300,000 unsold 2025 model year vehicles are sitting on dealer lots going into the weekend, per industry tracker data compiled by RealCarTips. Manufacturers are using Memorial Day promotions to burn through that inventory with cash back, 0% APR offers, and CPO rate cuts. The pressure on dealers to move metal compounds with the end-of-month sales clock. Those two forces together are what you actually want to understand before walking into a dealership.
What New EV Incentives Are Doing to Used EV Prices
When a new vehicle gets incentivized to the point that it overlaps in price with its 2-year-old used counterpart, something has to give. Dealers pricing used EVs can't ignore what's parked across the street.
| New EV | Starting MSRP | May 2026 Incentive | Effective Price |
|---|---|---|---|
| 2026 Chevy Equinox EV LT | $38,590 | $8,750 cash back | ~$29,890 |
| 2026 Kia EV9 | $59,995 | $10,000 cash back | ~$49,995 |
| 2026 Kia EV6 / Niro EV | varies | $10,000 cash back | varies |
| 2025-26 VW ID.4 (CPO) | varies | 1.99% APR / 60 mo | financing savings |
| 2024-25 Acura (CPO) | varies | 0.99% APR / 36 mo | financing savings |
Sources: GM Authority, CarsDirect, Kia US incentive disclosures, Memorial Day CPO programs from manufacturer sites.
At $29,890, a new Equinox EV competes directly with used EVs in the $26,000-$33,000 range. That affects pricing at dealers sitting on off-lease Bolts, used Leaf units, ID.4 returns, and comparable models. Sellers in that price band can't pretend new competition isn't happening.
This doesn't mean buying new suddenly makes sense. New cars carry higher insurance premiums, registration fees tied to the purchase price, and first-year depreciation. A used EV bought right is still a better total-cost-of-ownership decision in most situations. What it does mean is that you have more pricing leverage on used EVs right now than you normally would. The dealer across the street is your negotiating partner.
The CPO Rate Advantage
Most used car buyers focus on purchase price and miss the financing math entirely. CPO financing rates this month are unusually low, and the gap between a manufacturer-backed CPO rate and a standard used car loan is significant.
At $30,000 over 60 months, the difference between a 1.99% CPO rate and a 7% used car loan from a bank comes to roughly $4,500 in total interest paid. That's money you don't have to spend on a Honda, VW, or Acura CPO vehicle this month. Honda's CPO program currently adds five years or 100,000 miles of bumper-to-bumper coverage on top of the rate. Acura is running 0.99% APR for up to 36 months on 2024-2025 certified models.
If you were already considering a CPO purchase, May is a better window than June or July for these specific programs.
Timing: When the Real Leverage Happens
Memorial Day is on Monday, May 25. Every major manufacturer's Memorial Day incentive programs expire June 1. That date is also the end of May, which is the end of the monthly sales cycle.
Dealers measure performance against monthly quotas. Hitting a manufacturer volume bonus can be worth $50,000 to $100,000 in extra compensation for a dealership, per dealer-side analysis from Vantage Auto Group. A dealer who is two or three sales short of that bonus on May 29 or May 30 will discount more aggressively than they would at any other point in the month. The holiday is what gets buyers in the door; the end-of-month quota pressure is what actually makes deals happen.
The window that matters: Thursday May 29 through Saturday May 31. Dealers who haven't hit target by Thursday afternoon are running out of time.
Where You Have Leverage and Where You Don't
Days supply varies enormously by segment right now. A car with 8 to 10 days of supply won't negotiate no matter what banner is hanging outside.
| Segment | Buyer Leverage | Why |
|---|---|---|
| Compact SUVs (RAV4, CR-V, Tucson) | Low | Tariff-driven new car demand is pushing buyers into used; supply is tight |
| Pickup trucks | Low to moderate | Popular models moved into seller territory in 2025 and haven't softened |
| Sedans (Accord, Camry, Altima, Mazda6) | Moderate to high | Softening since early 2026 as truck/SUV demand absorbed the entry-level buyer |
| Non-Tesla used EVs | High | Off-lease returns building supply; new EV incentives creating price competition |
| Any vehicle 90+ days on the lot | High | Aged inventory costs the dealer money; they want it gone |
The last row is the most reliable one. Ask how long any specific vehicle has been on the lot. Dealers are obligated to answer honestly. A car that's been sitting for 95 days is a problem they want solved. That's your leverage, not the holiday.
For EVs specifically, used EV retail sales were up 27.7% year over year in March, per Cox Automotive data, but the supply growth has kept pace. Auction volume for used EVs at Manheim hit a quarterly record in Q1 2026. The non-Tesla used EV segment carries more inventory days than almost any other category.
What to Ignore
Holiday pricing theater is real. Many dealers inflate asking prices the week before Memorial Day and then "discount" them back to the original level during the weekend. Check the price history on any listing before you go in. A car listed at the same price for 14 days straight was never overpriced and a 3% Memorial Day discount isn't a Memorial Day discount.
The cars that don't move on price this weekend regardless of holiday: anything with a recent bidding history on listing platforms, any certified truck or hybrid from Toyota or Honda, and any vehicle with under 15 days of market supply in your region.
Does Memorial Day actually produce better used car deals?
Month-end timing is what matters, not the holiday. This year, May 31 lands three days after Memorial Day, stacking dealer quota pressure on top of incentive expiration. Genuine leverage appears May 29 to May 31 when dealers who haven't hit their monthly targets are most motivated to move vehicles. Shopping on the holiday itself, surrounded by other buyers, is not when the best deals happen.
Should I buy a used EV or take a new one with Memorial Day incentives?
At current incentive levels, the gap between a new Equinox EV at roughly $29,890 and a comparable 2-year-old used EV is narrow enough to run the full cost-of-ownership math before deciding. New cars carry higher first-year depreciation, insurance tied to purchase price, and registration costs. Used EVs have shorter remaining battery warranties. For most buyers shopping under $35,000, the 2 to 3 year old used model still wins on total cost; the margin is just tighter than it was a year ago.
Which used cars have the most room for negotiation right now?
Sedans and non-Tesla used EVs are carrying the highest inventory supply nationally. The most reliable target regardless of segment is any vehicle that has been on the dealer's lot for more than 90 days. Ask directly. The answer changes the negotiation before you've said anything about price.
CarScout tracks price history, days on market, and listing age for used vehicles so you can see which cars on your list have been sitting and which ones are moving fast. Browse current market data at /market before you visit any dealer this weekend.