Top 0% Financing Deals For July 2020

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - July 9, 2020

We analyzed hundreds of new car offers to find the best 0% financing deals in July. Those looking to get a zero-interest loan on a car, truck, or SUV can still expect to find some stellar deals even after the 4th of July. Most notably, brands like Chevy have brought back 0% APR for up to 84 months.

Interest-free loans have become increasingly popular but may require you to give up hefty rebates and actually cost you more in the long run. That's why we've chosen to mainly showcase cases in which 0% APR can result in a lower overall cost compared to taking cashback incentives.

Offers listed here are available nationally unless noted otherwise.

For more 0% loan deals, we've put together a complete list of COVID-19-related deals and assistance programs.

Best 0% APR Deals on Cars

                Whether or not the Soul is a hatchback or an SUV may be up for debate, but most would agree that it gets you a lot for the money. Several months ago, Kia lowered the model's 72-month rate from 0.9% APR to 0%. Your alternative is a $2,000 rebate.

                On a $20,000 car, financing would cost $20,000 at $278/month. With the rebate, it comes out to $20,872 at $290. That's an advantage of almost $900 with a slightly lower payment to boot. Even better, trading-in a car or truck can get you a $1,000 bonus.

                Check Soul Prices Near You »

                  Camry buyers can now enjoy interest-free financing in most parts of the country. Considering last month's best rate on a 5-year loan was just 1.9% APR, the latest change equates to a price cut of almost $1,500 when you consider the cost to finance a $30,000 car.

                  Your other choice is a $1,000 cash incentive. However, with a 5-year loan at 5%, doing so would cost $32,836 at $547/month. Opting for 0% APR would cost just $30,000 at $500/month. That's a difference if over $2,800 simply for turning down the rebate.

                  Check Camry Prices Near You »

                    Nissan is giving buyers a pretty big reason to finance through NMAC, its captive financing company. That's because Altima buyers have a choice between a $2,000 rebate or 0% for 60 months plus a $1,250 APR bonus.

                    On a $25,000 car, the APR offer would cost $23,750 at $396/month. With the rebate, a 5-year loan at 5% would cost $26,042 at $434. That's a difference of almost $2,300 with an advantage of $38 in monthly payment.

                    Check Altima Prices Near You »

                    The Bolt is just one of three Chevys eligible for interest-free financing in the month of July. As before, it offers a choice between an $8,500 discount or 0% APR for 72 months plus a $4,750 bonus.

                    On a $40,000 car, taking the financing would cost $35,250 at $490/month before taxes & fees. With the rebate, the same car would cost $36,526 at $507/month assuming a 6-year loan at 5%.

                    That's an advantage of nearly $1,300 in favor of 0% financing. Unsurprisingly, this is one of the best deals on an EV.

                    Check Bolt EV Prices Near You »

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                    Best 0% APR Deals on SUVs

                    Chevy Equinox

                    The Equinox is one of a handful of models still offering 0% APR for 84 months. However, Chevy is also offering the option to take a 15% discount off MSRP instead of the low rate. Here, you may need to do some math in order to decide which offer presents the best value.

                    On a $30,000 SUV, a 15% discount comes out to $4,500. With a 7-year loan at 5%, you'd end up paying almost $4,800 in interest at $360/month. For reference, choosing 0% APR would cost $30,000 at $357. We recommend exploring all your options to find the right deal.

                    Check Equinox Prices Near You »

                    Hyundai Santa Fe

                    The Santa Fe continues to be eligible for interest-free financing for 72 months. The alternative is a $2,000 rebate.

                    On a $30,000 SUV, financing through Hyundai would cost $0 in interest and have an estimated payment of $417/month. With the rebate, a 6-year loan at 5% would cost nearly $2,500 in interest at $451/month.

                    Prefer to lease? The Santa Fe continues to be one of the cheapest SUVs you can lease.

                    Check Santa Fe Prices Near You »

                    Subaru Ascent

                    Subaru is continuing to offer the best deal we've seen to date on the Ascent. Past incentives were limited to 48 months, resulting in a nearly $200 difference in monthly payment in the case of a $40,000 SUV.

                    With a 48-month loan, the vehicle in question would come out to $833/month. With a 63-month offer, the same SUV comes out to $635/month with no difference in the amount you pay in interest.

                    Check Ascent Prices Near You »

                    Cadillac is continuing to offer 0% APR on all versions of the sporty XT4. However, you can also get a $1,500 bonus in most parts of the country. In places like California, Florida, Michigan, and New York, you can even get an additional $1,000 for $2,500 in combined savings.

                    This is one of the rare cases in which shoppers can combine interest-free financing with rebates. As a result, most buyers may find it won't make sense to finance through their own bank. With the above combo, a $40,000 SUV would cost approximately $625/month.

                    To put that in perspective, a 5-year loan at 5% would cost almost $2,500 in interest and come out to $708/month. Those looking to lower their payments as much as possible should also be aware that the XT4 is currently eligible for 0.9% APR for 72 months.

                    Check XT4 Prices Near You »

                    Jaguar has extended 0% APR for 72 months for another month on every single model. The F-PACE now features a choice between the financing offer and a $1,000 cash incentive. Here's why low APR would come out to a much better deal.

                    On a $50,000 vehicle, taking the financing would cost $50,000 at $694/month. With 5% APR, the same vehicle would cost $56,818 at $789/month. That's a savings of over $6,800 in terms of the estimated total cost.

                    Check F-PACE Prices Near You »

                    Like the F-PACE, the Range Rover Sport has offers that heavily favor financing instead of a rebate. Here, shoppers can choose between 0% APR for 72 months or a $1,000 discount.

                    On an $80,000 SUV, our analysis finds that opting for the rebate would cost well over $11,000 in interest assuming 6 years at 5% APR.

                    Check Range Rover Sport Prices Near You »

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                    Best 0% APR Deals on Trucks

                    The F-150 is one of the few full-size pickups left with 0% financing. For reference, the Chevy Silverado is no longer eligible for interest-free offers, and the RAM 1500 limits buyers to just a handful of styles. At the moment, that makes the F-150 the best deal.

                    On a $50,000 truck, a 6-year loan at 0% would cost $50,000 at $694/month. At 5% APR, a competitor would cost nearly $8,000 in interest and come out to $805/month. That said, rebates will likely impact the value of choosing one truck over another.

                    Check F-150 Prices Near You »

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                    , Senior Pricing Analyst

                    As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

                    Follow On: Twitter

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