"The holiday provides a great opportunity to score an outstanding deal on a new car or truck," NADA Used Car Guide said in a statement on Wednesday.
It added: "Consumers should check with their local dealer to confirm incentive details."
NADA Used Car Guide also noted that over the past three years, current model new-vehicle incentives have increased by an average of 6 percent on a monthly basis in May, which is the highest of any month, except February.
"Many manufacturers are sweetening the pot even further by adding generous cash allowances on top of special financing offers," according to the NADA Used Car Guide.
Case in point is the 2015 GMC Sierra SLT. GMC is offering zero-percent financing for 60 months, plus an additional $2,000 cash allowance.
Many individual dealers are celebrating Memorial Day with their own special incentives.
Most offers end on June 1.
Edmunds says: Smart shoppers know that stops at dealer showrooms are going to be a key part of their Memorial Day festivities.