Best Minivan Deals — May 2026

Minivan incentives are modest in May 2026. Inventory has tightened across all three major nameplates — Toyota Sienna runs at roughly 18 days' supply nationally, the tightest in the segment. Honda and Kia have more inventory but are not discounting aggressively. The best deal this month is on the Kia Carnival EX, where dealer cash and a competitive APR program make it the lowest effective cost of any van in the segment. All examples below assume 36-month/10,000-mile lease terms or 60-month purchase financing where applicable.

Honda Odyssey

Honda Financial Services is running a straightforward program through May 31.

• No lease subvention programs currently offered
• No cash-back programs
• Fleet and conquest programs not active this month
• 3.99% is below the national average car loan rate (approximately 7.1% for new vehicles); saves roughly class="relative z-10",800 in interest on a $45,000 loan over 60 months vs. market rate

Combine-ability: APR and loyalty cash cannot be combined. If you own a current Honda, check if loyalty cash ($500) is active in your region — it typically conflicts with the rate program, so run both scenarios.

Kia Carnival

Kia has the most competitive program in the segment this month.

• EX note: the class="relative z-10",000 dealer cash and 4.49% APR are combinable on EX trim through May 31
• SX Prestige has no programs; selling at MSRP
• Kia's 10-year/100,000-mile powertrain warranty applies regardless of incentive program used
• 72-month financing is available, but stretching a loan that long on a depreciating asset should be avoided unless the rate is below 3%; 60 months is the better term at 4.49%

Best deal in the segment: Carnival EX with class="relative z-10",000 dealer cash plus 4.49% APR. At the $40,500 MSRP, that's an effective price of $39,500 before any negotiation on dealer markup.

Toyota Sienna

The Sienna Hybrid runs lean inventory and has minimal incentive support in May.

• Toyota Financial: no subvented APR or lease programs on Sienna this month
• 18 days' supply nationally means dealers have little pressure to deal
• Standard rate financing (approximately 6.9%–7.5% depending on credit) applies
• The Sienna's 36 mpg combined hybrid rating is the only reason to pay market rate without incentives — it saves approximately $900/year in fuel vs. Odyssey or Carnival at average mileage

Takeaway on Sienna: If fuel economy is your top priority, pay MSRP. If budget matters more, Odyssey or Carnival with their current programs are the better May buys.

How to use these numbers

APR vs. dealer cash: Run both scenarios with your lender. At 4.49% on a 60-month loan for $40,000, you'll pay approximately $4,740 in interest. Taking class="relative z-10",000 dealer cash and financing at 6.9% adds roughly $2,800 in interest — the rate program is worth ~ class="relative z-10",800 more than the cash, so the class="relative z-10",000 dealer cash + APR combination on the Carnival EX is best.

Month-end timing: All programs listed expire May 31. Minivan inventory is tight enough that waiting until the last weekend of the month doesn't create meaningful leverage; dealers don't have excess units to move. If you want the Carnival EX deal, early May is fine.

Negotiate the trade separately: Don't give the dealer a combined number. Get the out-the-door price on the new van first, then discuss your trade. Salespeople use trade value to offset profit they lose on the deal.

For a side-by-side Odyssey vs. Carnival comparison, see Honda Odyssey vs Kia Carnival 2026.