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Labor Day Car Deals: The Best Time To Buy A Car?

First Posted: 09/03/10 01:08 PM ET Updated: 05/25/11 06:35 PM ET

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Labor Day was created to honor workers, but it may be the one of the best times of the year to be a consumer.

CBS News business and economics correspondent Rebbecca Jarvis recently spoke to "The Early Show" and ran through the reasons why Labor Day can mean a plethora of great car deals. "The 2010 models they want off the lot and you're going to get a great deal as a result," Jarvis said.

Zero percent financing for five years, $3,000 to $5,000 cash back and a great selection are among the benefits of buying a car this weekend, Jarvis says.

And the best car to buy on Labor Day? Compacts are especially discounted this year, and trucks tend to have the best cash back offers, according to Jarvis.

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Filed by Ryan McCarthy  |