Where are the 0% APR Car Deals?

January 10, 2012

zero-loan-rateCars sales are still recovering from pre-recession levels and car makers are offering some very attractive incentives, including 0%, no interest, loans, to help get things moving again.

Some manufacturers are also offering cash-back rebates but, as you may already know, you generally must choose between the rebates and the special low-interest (or zero interest) loans. You can’t take both.

Often, rebates are a better deal, especially if you need down payment money (rebates can be used as down payment cash). However, in many cases, you don’t have a choice when only a rebate, or only a low-interest loan is being offered. See our article, 0% APR Car Deals – Good Deal or Not? for more details.

Here are some of the current  car makes and models with 0% APR loan deals. Note that the 0% APR rate usually (but not always) only applies for shorter-term loans — 24, 36, or 48 month loans — and may not apply to all styles within a model line.  Terms and conditions can vary by car company.

Following are some of the current 0% ARP loan deals for 2011 and 2012 vehicles.

Of course, the best deals result from having both a 0% loan and a good price discount. Many car buyers are so happy to get a great loan rate that they overlook the fact that they should also be getting a price discount (not rebate) from their dealers. Shop for or negotiate your best price, even when you are getting a zero-percent loan. Don’t let dealers try to tell you that you can’t have both.

We also remind you that you need a good FICO credit score to qualify for a 0% APR loan rate. If you don’t know your credit score, you should. You can get your score online at sites such as FreeCreditScore.com.

If your credit score is significantly below 700 you won’t be able to get a low-interest (or 0% interest) loan but you may be able to qualify for a “sub-prime” rate at a loan company, such as Auto Credit Express, that specializes in providing car loans to people with no credit, poor credit, bankruptcies, or even repossessions on their record.

You can get free price quotes on any of the above cars from Edmunds.comThe quotes will automatically include any cash-back rebates or discounts that are currently available.

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2011 Car Deals, 2012 Car Deals, Loan Deals

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