Nearly Every Truck Brand Is Offering 0% APR Deals For Memorial Day

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 | Website

, Senior Pricing Analyst - May 21, 2019

Great financing deals abound for Memorial Day on a slew of popular trucks. In fact, we're seeing 0% financing from nearly every brand, including the latest models. However, our analysis finds that there can be some important catches consumers should know about before heading to the dealer.

Beginning today, RAM is offering 0% APR for 72 months on the 2019 RAM 1500. Unlike past incentives that focused on the outgoing generation, the deal in question is for the latest version. However, a closer look reveals the only styles that are eligible are the Tradesman Quad & Crew Cabs.

GM is offering 0% financing for 72 months on both the all-new Silverado and redesigned Sierra. However, rules & eligibility differ. With the Silverado, the only version eligible is the Crew Cab and only when choosing a 1LT or RST style. With the Sierra, Double & Crew Cabs are both eligible, but Denali and AT4 versions are not.

Ford is running a national promo on the 2019 F-150 involving 0% APR for 72 months. All cab types qualify for the deal except for the high-performance Raptor. Unlike most current incentives from the automaker, this particular deal is slated to end on May 31.

Among import brands, Toyota is offering 0% financing for 60 months on 2019 Tundras in most parts of the country, an unusually low rate for that model. While financing deals on midsize trucks are pretty tepid, the Nissan Frontier features 0% APR for 36 months, with a special promo advertising $0 Down Payment and No Payments For 90 Days. In places outside the West Coast, Nissan is offering $500 Memorial Day Bonus Cash.

Although 0% financing can undoubtedly be tempting, shoppers should consider their options carefully.

For example, instead of 0% APR, Chevy is offering a chance to save up to $9,015 on the new Silverado. However, the deal requires choosing an LT Crew Cab with the All Star Package and financing with GM Financial. In contrast, the standard rebate on the better-equipped Silverado LTZ Crew Cab is worth just $2,000.

Chevy SilveradoWill a $9,015 discount save you more money compared to 0% APR? Here's what we found.

On a $50,000 truck, the cost of a 6-year loan with the discount at 6% interest would be $48,905. With the APR offer, the cost would be $50,000. Here, the advantage in taking the discount is $1,095, with a lower payment to boot. With the financing, the payment is $694/month. With the discount, it's $679.

That's assuming you'll be eligible for the full discount that Chevy is advertising. If you aren't, the end result may not always be clear-cut.

Truck offers can be incredibly confusing, with quirks that may depend on trim, cab, package, and even engine choice. Consider picking out the configuration you want before getting overly excited about deals. Then, get dealers to compete for your business. You may be surprised by what makes the most sense for your situation.

See our continuously-updated Memorial Day coverage »

Editor's Note: RAM initially introduced 0% APR on the Tradesman Quad Cab, but has since expanded the offer to include Crew Cabs. We've updated the article accordingly.

, 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 | Website

Privacy Policy|Terms of Use|Cookie Policy|Disclaimer
COPYRIGHT 1999-2019 MH Sub I, LLC dba CarsDirect.com