Kicks: 0% financing for 72 months plus up to $500 bonus cash. At first glance, a car loan with a 0% APR is exactly as it appears: You purchase the car at the agreed-on price, and then make monthly payments on the principal of the car with no interest. Or Cadilac Esclade $56,000 car loan 36 months = 1,555 a month. Frontier: 0% financing for 72 months. It's simple: we will never steer you in the wrong direction just because a company offers to pay us. You can also forgo this opportunity to receive $1,800 in bonus cash, but you’ll have to pay interest of 2.99% over the 4-year loan term. Zero-percent financing is usually offered for a particular model and price with good to excellent credit required. It helped buoy a down year and keep auto sales robust, with shoppers cashing in on what some called "free money.". Holiday shopping deals are an exception, with manufacturers offering 0% financing … A quick online search on the auto manufacturer’s website on the page where promotions are listed may be the easiest way to spot offers. It’s not uncommon for the salesman to focus on the monthly payment amount and not the total amount the car will cost you, to convince you that you’re getting the best deal. You also get the luxury of making payments over time, which allows you to maintain a healthy cushion or even invest the money so compounding interest can work in your favor. Research Cars. If you buy a car for you will notice that the first half of the loan you will not see a large decrease in the balance for the first half of the loan due to the balance holding and collecting the APR. Over 3,000 used cars in stock at any one point. These deals are designed to sell high volumes of select makes and models. Best 9 cars with 0% APR It’s safe to say that 2020 has been a financially challenging year for many of us. Consider this an interest-free loan that can last anywhere between 6 and 9 months (sometimes longer) from the day you open your account. Allison Martin is a syndicated financial writer, author, and Certified Financial Education Instructor (CFEI). It’s a buyer’s market at a time when many people simply don’t want to go shopping. © 2021 The Car Connection. Before looking for a 0% APR auto loan, consider whether it’s the right option for you. Home » Car Reviews » Chevy reintroduces 0% APR, big incentives on 2021 Silverado, 2020 Bolt , others. But keep in mind that the minimum credit score varies by auto manufacturer, which means you may qualify for a zero-interest loan with one manufacturer and not the other. Are 0% APR auto loans really interest-free? Any help would be greatly appreciated. Also, explore special financing promotions offered through local dealerships as they may be running their own zero-percent interest deal with less stringent qualification criteria. Some dealerships occasionally offer their own version of zero-percent financing. This week, I updated the list of best 0% finance deals on new cars. 0% APR car deals are harder to find than ever: When Edmunds compared 0% financing offers in August 2018, it found them cut in half compared with such offers in August 2016. You might get lucky and find that the car you want is offered with this financing … Check Out Our Top Picks:Best Auto Loans of 2021. I agree to receive emails from The Car Connection. Despite paying $934 in interest over the life of the loan, you’ll still walk away with $866 because of the bonus cash ($1,800-934). You can also view a comprehensive listing of current 0% interest promotions on Edmunds, US News and World Report, and CarsDirect. 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