Top 0% Financing Deals For October 2020

By

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

, Senior Pricing Analyst - October 5, 2020

We analyzed hundreds of new car offers to find the best 0% financing deals in October. Those looking to get a zero-interest loan on a car, truck, or SUV can expect to find some stellar deals as we enter the fall sale season. The best deals involve 0% APR for 84 months plus up to $2,000 in rebates.

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 versus traditional cashback incentives.

Offers listed here are available nationally unless noted otherwise.

Updated October 5

Best 0% APR Deals on Cars

    If you're buying a Mazda3, you're probably going to want to finance. This month, all styles are eligible for 0% APR plus a $500 APR Bonus and deferred payments for 90 days. Your alternative is a $1,500 cash incentive in places like California.

    On a $25,000 car, taking the financing would cost $24,500 at $408/month. With the rebate, the same car would cost $26,608 at $444. That's a difference of just over $2,100, with the added flexibility of being able to defer your first payment.

    Coming from another Mazda? Don't forget to ask for your $750 loyalty discount.

    Offers end November 2. Check Mazda3 Prices Near You »

      Opting for the latest version of the Sonata offers a choice between $1,000 cash and 0% APR for 72 months. In this case, choosing zero percent financing could be a no-brainer assuming you have excellent credit.

      On a $30,000 car, a 6-year loan at 5% would cost $33,627 at $467/month with the rebate. With 0% APR, the same car would cost $30,000 at $417/month.

      That's a $50 advantage in payment with an over $3,600 difference in cost before taxes & fees.

      Offer ends November 2. Check Sonata Prices Near You »

        Camry buyers can enjoy interest-free financing in most parts of the country. Previously, the best rate on a 5-year loan was just 1.9% APR, the 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 $1,500 rebate. However, with a 5-year loan at 5%, doing so would cost $32,270 at $538/month. Opting for 0% APR would cost just $30,000 at $500. That's a difference of almost $2,300 when turning down the rebate.

        Offer ends November 2. Check Camry Prices Near You »

            The G70 offers a hidden discount this month when you take out a loan through Genesis. According to an unadvertised incentive bulletin, dealers are being given up to $1,500 in dealer cash that can be combined with 0% APR for 72 months. But that's not all.

            If you're coming from a competitor (or another Genesis), you can get an extra $1,000 off. That's $2,500 in savings plus 0% APR, the best deal of the year. That said, like all dealer incentives, shoppers should find a dealer willing to pass along the full amount.

            Offers end November 2. Check G70 Prices Near You »

            Back to top

            Best 0% APR Deals on SUVs

            Here in California, the Explorer offers up to $4,000 in rebates. However, opting for a smaller amount of $3,500 gets you access to 0% APR for 60 months.

            On a $40,000 SUV, a 5-year loan at 0% would cost $37,500 at $625/month based on the above scenario. Meanwhile, taking the $4,000 and financing at 5% would cost $40,762 at $679.

            That's a difference of $54/month in favor of 0% APR, with an over $3,200 advantage in the total estimated cost.

            Offer ends November 3. Check Explorer 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.

            Offer ends November 2. Check Santa Fe 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 $2,000 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 the rebate and loan at 5% APR, the same vehicle would cost $55,659 at $773/month. That's a difference of over $5,600 when comparing estimated costs.

            Offer ends November 2. Check F-PACE Prices Near You »

            Back to top

            Best 0% APR Deals on Trucks

            The Titan likely features the best APR deal we've seen on any truck in 2020. Nissan is now offering 0% APR for 84 months plus $2,000 in bonus cash. That marks a huge cut in price compared to last month's rate of 2.9%. On a $50,000 truck, that can equate to an advantage of over $5,300 in money spent on interest.

            Your alternative is a $4,000 rebate. However, a 7-year loan would be over $4,600 cheaper by choosing 0% APR compared to a higher rate of 5% plus the rebate for the same term. Here, financing through Nissan will most likely offer the maximum possible value for those planning to buy.

            Offer ends November 2. Check Titan Prices Near You »

            Back to top

            , 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

            Privacy Policy|Do Not Sell My Personal Information|Terms of Use|Cookie Policy|Disclaimer|
            COPYRIGHT 1999-2020 MH Sub I, LLC dba CarsDirect.com