Buick Envision (51.1%): Up to $7,500 cash back or 0.0% financing for 72 months (current non-GM owners or lessees) or 0.0% for 72 months and $5,950 cash (current GM owners or lessees).Ford Expedition Max (59.2%): Up to $3,000 cash back or 3.9% for 84 months.Chevrolet Bolt EV (68.9%): Up to $8,500 cash back or 0.0% financing for 84 months and $7,000 cash.Ford Escape (90.4%): 0.0% financing for 66 months and up to $3,000 cash back.And keep in mind that advertised lease and financing offers are typically restricted to consumers having top-tier credit ratings. Take note that these deals tend to vary from one part of the country to another, usually to address local supply and demand issues, so be sure to contact a local dealer or check an automaker’s website under a “local offers” or “special deals” tab to see what’s specifically being offered within your Zip Code. We’re also featuring automakers’ sales incentives for each model, which are good through the end of the month. It typically occurs when a buyer already qualifies for a loan with a low annual percentage rate (APR) and the amount being financed is a figure the dealer deems reasonable.Here is ’s list of the vehicles with the largest number of 2020 models lingering, along with the total percentage still unsold. In this case, the dealership opts to pay the interest on your loan, either to sweeten a deal or as an incentive for you to make a large down payment. Sometimes a dealership will offer its own version of zero percent financing. The Edmunds Incentives and Rebates page also highlights zero percent financing offers and other promotions for the month. It remains to be seen if this pattern will continue in an era of high interest rates.Īnd while such carmakers as Chrysler, Nissan and Toyota largely walked away from zero percent loans in late summer of 2018, shoppers could still find the offers on selected models from carmakers including Ford, Subaru and Kia.Ĭarmakers advertise the no-interest loans in commercials, at dealerships or on their websites. Zero percent offers typically peak in the summer months to stimulate sales for the outgoing model year and stay "relatively subdued" in the other months. The availability of zero percent deals has followed a pretty rigid pattern, said Jeremy Acevedo, senior analyst for Edmunds. This financing incentive can spark sales of a slow-selling vehicle or help clear out inventory to make room for cars from the new model year. But is a zero percent loan the best of deals? Are there any catches? And if you were planning on paying cash for your car, is it even worth considering?Īutomakers' financing companies forgo the money they would have made on loans with interest in favor of selling more of a particular vehicle. Provided you can find and qualify for a zero percent car loan, it sounds like a no-brainer. Zero percent loans are free money if you're the buyer, but not if you're the carmaker, which has to pick up the tab for such offers just as it does with traditional cash-back rebates. In August 2018, however, that number had dropped to 7.4 percent. In August 2017, for example, 14.6 percent of car deals were financed with zero percent loans, according to Edmunds analysts. Lately, though, zero percent offers have become less plentiful. If you can tick that box, you can get some significant savings: A buyer who gets a zero percent interest deal on a $25,000, 60-month loan would save $3,300 in interest charges, compared to a loan with the average 5 percent APR. You'll sometimes hear people call such financing "free money." It's not that exactly, but it's as close as you're likely to get.Īnd such loans aren't available to everyone: You typically have to have a credit score above 700 to qualify. A zero percent loan is often advertised as one of the best deals you can get when you're buying a new car.
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