Home » Here Are All The Cars You Can Buy With 0% Financing

Here Are All The Cars You Can Buy With 0% Financing

Zero Percent Cars
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As new cars pile up on dealer lots, manufacturers have to sweeten deals to keep metal moving, and you know what that means — incentives are back, and one of the most tantalizing is zero percent financing. Automakers are once again subsidizing thousands of dollars worth of interest, and that means you can score a proper deal on a new car in the face of high interest rates.

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Ford is currently leading the zero percent charge with a wide array of vehicles. Certain 2024 Edge, 2023 Mustang Mach-E, and 2023 Escape models qualify for zero percent financing for up to 72 months, while certain 2023 Explorer, 2023 Bronco Sport, 2023 F-150, 2023 Lincoln Nautilus, and 2023 Lincoln Corsair models qualify for zero percent financing for up to 60 months. Plus, there’s also cash on the hoods of some of these cars on top of zero percent financing, like $3,000 on certain 2023 Mustang Mach-E Premium EVs.

Screenshot 2024 05 13 At 11.41.10 am

Another manufacturer hopping back aboard the zero-interest train is Kia. The Korean brand is now offering zero percent financing for up to 72 months on the 2023 EV6 and 2023 Niro EV, along with zero percent financing for up to 60 months on the 2024 EV6 and Niro EV. Of course, we can’t mention the Kia EV6 without bringing up its Hyundai Ioniq 5 platform-mate, because Hyundai is offering zero percent financing for up to 60 months on 2024 Ioniq 5 EVs. While none of these vehicles qualify for federal EV tax credits, they’re still great cars, and zero percent financing only makes them more appealing.

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Toyota ev rebate

You know what EVs aren’t at the head of the class? The Toyota bZ4X, the Lexus RZ450e, and the Subaru Solterra. Perhaps that partly explains why all three of these triplets are now available with zero percent financing, albeit with slightly different details. The 2024 bZ4X and Solterra both qualify for zero percent financing for 72 months, while the 2023 RZ450e is being offered with zero percent financing for 72 months.

While we’re on the subject of EVs, Nissan is offering zero percent financing for 72 months on the 2023 Ariya electric crossover, a pretty roomy midsized family hauler with some nifty interior elements. We’re talking about a little tray to eat food off of while you’re fast charging, and a lantern-like illuminated element tucked low against the firewall. How’s that for whimsy?

Volkswagen Taos 2022 1600 03

Even Volkswagen is looking to move units, with the 2024 Taos subcompact crossover being offered with zero percent financing for 60 months. It’s one of the roomiest vehicles in its segment and has somehow managed to escape Volkswagen’s obsession with touch-sensitive everything.

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On the shorter term, Mazda is offering the 2024 CX-30, CX-5, and CX-50 crossovers with zero percent financing for 36 months. Three great crossovers, three pretty solid deals if you can swing the short financing term, and have a paid-off vehicle fairly quickly. New cars are nice, but so is not having a car loan for longer than you need to, right? Also on the short term, Nissan is offering the 2024 Rogue with zero percent financing for 36 months, adding another free financing option to the compact crossover segment.

Subaru Wrx 2022 1600 0a

However, the most enticing car available with zero percent financing right now is the 2023 Subaru WRX. A quick Cars.com search shows 284 of these all-wheel-drive sedans available nationwide with the manual transmission, and with more affordable trims starting at around $30,000, zero percent financing for up to 72 months makes a WRX tantalizing indeed. For the monthly payment of a fairly normal commuter car, you could have a turbocharged all-wheel-drive sport compact, and that sounds like a blast.

So, if you’ve been holding out on a new car purchase, hoping that deals would return, you’re in luck. Zero percent financing is making a comeback, and there are plenty of models on the market to choose from. Don’t be surprised if more manufacturers turn to heavy incentives to move units over the coming months, because even though the COVID supply lull will continue to wreak havoc on the used car market, the new car market isn’t favoring manufacturers anymore.

(Photo credits: Subaru, Toyota, Volkswagen)

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Bongo Friendee Harvey Park
Bongo Friendee Harvey Park
15 days ago

The WRX still exists?

Jj
Jj
15 days ago

“The 2024 bZ4X and Solterra both qualify for zero percent financing for 72 months, while the 2023 RZ450e is being offered with zero percent financing for 72 months.”

What is the difference between these 0% / 72 month offers? Am I reading this wrong? I’ve been doing yard work and it’s possible the mower has broken my brain.

Undecided profile name
Undecided profile name
15 days ago
Reply to  Jj

It’s 2024 model year for the bz and solterra and 2023 model year for the rz. It took me a second look to see the difference.

Jj
Jj
15 days ago

Thanks. Someone else posted (and answered) the same thing further down. I saw it too late to edit this.

I read it several times and literally couldn’t see the difference.

Bizness Comma Nunya
Bizness Comma Nunya
15 days ago

I looked at the Taos for a bit… but man… people seem to be having a LOT of problems with them.

Shame, I think it’s VW’s best looking SUV, it comes in interesting colors, the size is spot-on outside and in, the price is pretty good, etc..

Then I looked at the Tiguan, surely since it’s been on the market so long all the bugs must be worked out. Seems people are having more issues than expected from brand newish ones as well. Come on VW.

Davey
Davey
15 days ago

My friends Tiguan (now sold) was such a POS. It had the hard VW plastic that should have been on an economy car, suspension knock from new, and it was the only vehicle where when I sat inside the back seats just felt like there was nothing seperating you from the outside, it was just seats bolted to chassis and you on it. I know that’s how cars are made but it felt like I was on the assembly line when inside the car, if that makes sense. Just no sound deadening, cheap hard materials everywhere, I couldn’t believe this was a new car being sold but I could 100% believe it was a VW.

Brian Ash
Brian Ash
15 days ago

Nothing is ever really free.

Segador
Segador
15 days ago

Man, when did the WRX get so ugly?

Bizness Comma Nunya
Bizness Comma Nunya
15 days ago
Reply to  Segador

I mean… Subaru hasn’t ever been known for their styling. Maybe the SVX is the exception.

Thomas Metcalf
Thomas Metcalf
15 days ago
Reply to  Segador

It has never really been pretty. I say this while daily driving a 2019 WRX.

Bizness Comma Nunya
Bizness Comma Nunya
15 days ago
Reply to  Thomas Metcalf

Yeah, that’s true. I’ve always kinda wanted a WRX, but they haven’t been beauty queens… however that’s not what they’re about so it’s ok.

Jj
Jj
15 days ago
Reply to  Segador

It’s a Subaru. I saw a Forester yesterday in black (mine is silver) and that color really showed the shape of the body. I had never realized how ugly that thing is. I guess the shade of metallic boring on mine really hides some of the terrible design decisions.

Vic Vinegar
Vic Vinegar
15 days ago
Reply to  Segador

This last gen model they did a number on with that black plastic nonsense. As a result, I rarely ever see them these days.

Canopysaurus
Canopysaurus
15 days ago

Unfortunately, I have zero percent interest in any of these cars.

Defiant
Defiant
15 days ago
Reply to  Canopysaurus

hahahhhaha. A real LOL

Ron Bitter
Ron Bitter
14 days ago
Reply to  Canopysaurus

The Mazdas are pretty nice if you want a crossover SUV. I had a CX-50 rental a few months ago and it was great.

Mark M
Mark M
14 days ago
Reply to  Ron Bitter

Ive owned a CX-50 for almost 2 years and its been a good car. Looks good despite the goofy cladding and per usual Mazda knows what they’re doing with chassis tuning. Its nice to drive.

Angrycat Meowmeow
Angrycat Meowmeow
15 days ago

I really want to like the WRX but that cladding is such a turnoff. It’s egregious. It’s like the Polestar 3 where it’s just too high, a car that wishes it was a crossover.

Angular Banjoes
Angular Banjoes
15 days ago

In my opinion, it looks less terrible in person, but it’s still terrible. I just can’t get my head around Subaru’s design choices lately. I mean, they’ve never really been attractive cars, but it seems like they’re making them intentionally ugly now.

Angrycat Meowmeow
Angrycat Meowmeow
15 days ago

It’s going to look like absolute shit in 5 years when half the car is faded and chalky. That stuff needs to be ceramic coated the minute it rolls off the lot.

The Clutch Rider
The Clutch Rider
15 days ago

because, since Toyota “bought” Subaru they sucked the soul, whatever styling they and reliability out of every one of them.

Vic Vinegar
Vic Vinegar
15 days ago

And they added that “texture” to the cladding too. You can’t even wrap it or something to try and make it blend in. What a terrible design for a sports sedan.

If you want to give me a WRX powered Crosstrek, then give me one…aka a wagon. That’d have me interested.

Angular Banjoes
Angular Banjoes
15 days ago
Reply to  Vic Vinegar

I’ve always been a fan of the Crosstrek, but the engine combined with the CVT is just so bad. Plus, where I live, every third car is a Crosstrek. Now, a Crosstrek with the FA24 and three pedals would be awesome. They’d sell dozens!

Jj
Jj
15 days ago
Reply to  Vic Vinegar

This is the car that would get me to a Subaru lot. Even just an na 2.5 with a manual would have me looking.

Angular Banjoes
Angular Banjoes
15 days ago
Reply to  Jj

I had an 01 2.5RS with the manual. It was a great little car, so I could absolutely see that same drivetrain being entertaining in the Crosstrek. It made nothing but noise above 5k, but it had enough torque to be really fun around town.

Stef Schrader
Stef Schrader
14 days ago

it’s like a Pontiac Aztek without the awkward charm

JurassicComanche25
JurassicComanche25
15 days ago

0% wrx made me look- but all i see is 1.9% for 72mo

Jesus Chrysler drives a Dodge
Jesus Chrysler drives a Dodge
15 days ago

Same. It’s not available at 0%. Fake news.

Eggsalad
Eggsalad
15 days ago

A 2023 model may have been sitting on the lot for 18 months or more by now. There’s something that dealers call “lot rot”, there are degradations on cars from sitting still. Tires, especially. I don’t think I’d want to buy a car that’s been sitting for 18 months, or it would have to be a very sweet deal off MSRP on top of 0% financing.

TXJeepGuy
TXJeepGuy
15 days ago

Wonder how bad WRX insurance is these days…

Squirrelmaster
Squirrelmaster
15 days ago
Reply to  TXJeepGuy

I had a similar thought. Insurance rates for a WRX are pretty high where I live, so my brain immediately went “With 0% interest there’s a good chance the monthly insurance payment might be higher than the monthly payment on the WRX itself!”

TXJeepGuy
TXJeepGuy
15 days ago
Reply to  Squirrelmaster

I had one back in 2011 and I think my insurance was around $200 a month with no tickets or accidents and in my mid 20’s. It was enough for me to get rid of the car after about a year and a half.

Angular Banjoes
Angular Banjoes
15 days ago
Reply to  TXJeepGuy

I pay less to insure a G87 M2 than I paid to insure my WRX. Not a lot less, but still.

It's a minivan
It's a minivan
15 days ago

Out of curiosity, why is there such a difference between the US and Canada? Here in the land of maple syrup, terrible hockey teams and lumberjacks EV prices are soaring, APRs are still high, and lead times for a Toyota are measured in decades.

Why have the two car markets diverged? I thought (maybe incorrectly) that most NA cars were essentially the same and I would think the price of financing should be similar. Or am I just imagining all this?

Can someone please explain to me in small words why what I read about the US seems so different than what I see in Canada?

Citrus
Citrus
15 days ago
Reply to  It's a minivan

Well we have different gauges. I think that they’re mostly allocating supply to the US, though there’s a chance they will course correct given that it appears US supply is more consistent.

Data
Data
15 days ago
Reply to  Citrus

Canadian gauges are in Metric and US gauges are in Freedom Units.

It's a minivan
It's a minivan
15 days ago
Reply to  Data

With digital clusters, is this even a thing anymore? I just assume I can hit a button to switch between logical units of measurement and whatever it is you use down south…

Data
Data
15 days ago
Reply to  It's a minivan

1 mile = 5280 feet. Is that so hard….oh nevermind, I can’t keep a straight face.

It's a minivan
It's a minivan
15 days ago
Reply to  Citrus

Any idea why they would do that? I mean, I’m no business wiz, but if I have to give discounts in one place and can charge full price in another I’d probably try to charge full price.

Citrus
Citrus
15 days ago
Reply to  It's a minivan

The US is a much larger market so I assume the idea was that there would be harder to keep up with the demand there than it would in Canada. I believe there are enough differences in regulations that you have to be aware that something is a US car or Canada car during production.

MrLM002
MrLM002
15 days ago

I’d argue you’re not buying something if you have to get a loan to do so. You don’t own, it, whoever loaned you the money owns it, and you’re paying them back while you use their asset.

It's a minivan
It's a minivan
15 days ago
Reply to  MrLM002

I get this feeling – I often feel like I’m just renting my house from my mortgage provider. However, you’re basically arguing against accounting.

If I take out a $50k loan when buying a car so I can use my existing $50k cash to buy investments, do I not own the car? Or maybe I don’t own the investments???

Actually I own some things and owe some things. How much I owe vs how much I have is a matter of leverage, not a matter of owning/not owning.

MrLM002
MrLM002
15 days ago
Reply to  It's a minivan

Investments is tricky. Personally I prefer the bird in hand.

Brandon Forbes
Brandon Forbes
15 days ago
Reply to  MrLM002

Even if it’s just in a high yield savings account or a CD or money market or something, any of those make you money which makes more sense than buying upfront if you’re not paying interest.

Sidenote, I chuckled a bit seeing comments from LM002 and It’s a minivan in the same thread, I saw it as someone calling a Lambo a minivan and that makes me smile.

MrLM002
MrLM002
15 days ago
Reply to  Brandon Forbes

To each their own.

In regards to the sidenote, it’s hard to find a minivan that’s worse to drive than the LM002. It was one of those ‘Never meet your Heros’ moments.

Mazda 5 with a manual > LM002

Brandon Forbes
Brandon Forbes
15 days ago
Reply to  MrLM002

Haha yeah I mean it’s more of a HMMV than a passenger vehicle, and no sane person would actually make that argument, that’s just how my brain registered it for a second which made me laugh.

MrLM002
MrLM002
15 days ago
Reply to  Brandon Forbes

I mean more with the super heavy clutch, the unreliable V12 that powers the power steering and power brakes, so if your engine quits you can’t stop it or steer it, so you’re a 8000 pound $400K fiberglass and chromoly freight train going wherever the wheels are pointed until you run out of kinetic energy or you manage to restart the engine.

It is by far the scariest POS I have ever driven.

It's a minivan
It's a minivan
15 days ago
Reply to  MrLM002

I get it. I don’t mean to make an argument for or against leverage, only that leverage is a thing.

Last edited 15 days ago by It's a minivan
Brandon Forbes
Brandon Forbes
15 days ago
Reply to  MrLM002

I disagree. My house is mine, I can knock out walls, I can paint it neon green with pink polka dots, I can add a bathroom, yes I still am making payments on it, but it is mine. When you pull ownership info on it, the city has me not the bank as the owner. Cars are no different. You are buying it, it is yours to customize and ruin as you see fit, and here’s nothing wrong with that.

MrLM002
MrLM002
15 days ago
Reply to  Brandon Forbes

Stop making payments and you’ll find out whose house it is real quick.

It's a minivan
It's a minivan
15 days ago
Reply to  MrLM002

Depends how the loan is secured. Maybe they actually own the investments?

3WiperB
3WiperB
15 days ago
Reply to  MrLM002

The sad thing is, even once you actually own it, stop paying your property taxes and see whose house it really is.

MrLM002
MrLM002
15 days ago
Reply to  3WiperB

Indeed. We never own land, we just lease it from the government after buying the right to lease it from someone else.

Spikersaurusrex
Spikersaurusrex
15 days ago
Reply to  MrLM002

That depends on the terms of the loan. If a loan is unsecured, the creditor has no claim on whatever you buy. If it’s secured, the creditor has a claim on it, but only up to the amount owed (plus collection costs in most cases). If you have equity, the creditor may be able to force a sale, but you will received the remaining amount after the creditor is paid.

Skurdnee
Skurdnee
15 days ago
Reply to  MrLM002

So? Borrowing at 0% and holding the cash in a 5% interest bearing HYSA or money market account makes me money, which I do definitively own and allows more flexibility for emergencies, etc. Getting caught up on whether or not you actually own something that you have a loan out against is silly.

Nsane In The MembraNe
Nsane In The MembraNe
15 days ago

1). When did 72 and 84 month financing become normal? I struggle to even wrap my head around 60. If you need to stretch out the term that far then you can’t afford the car. I guess it’s less of a big deal when there’s no interest but terms this long are the fast track to being upside down.

2). The WRX deals are indeed enticing. If I were in the market right now I’d definitely look at one. I’d imagine that dealerships will be willing to wheel and deal on them too since they’re not selling. Say what you will about the styling (while I think it’s a little better in person it’s still mid at best), but that’s a nearly 300 horsepower all wheel drive manual sedan you can take home in the low to mid 30s.

With 4 figures off MSRP and no interest too? That’s a good buy and a good entry level enthusiast car. Really my only gripes are that the fuel economy is shockingly bad and the auto option is a damn CVT. Allegedly this iteration is “good for a CVT” but it’s still a CVT.

3). Do not buy new EVs regardless of the financing deals. Lease them.

V10omous
V10omous
15 days ago

 If you need to stretch out the term that far then you can’t afford the car.

Oh no, not you too!

There’s nothing magical about a 36, 48, or 60 month term where suddenly the car is “affordable” or not. Doubly so if we are discussing zero-percent financing!!!!

Loan lengths have risen as resale values have risen as car lifespans have risen. It’s not malicious. It’s simply acknowledging that cars still have significant value after 6-7 years and so it’s far less risky to still owe money then.

VanGuy
VanGuy
15 days ago
Reply to  V10omous

I financed a used car coming out of college when my van was bankrupting me. 72-month loan, because that was all I could afford. Eventually I got promoted, and I was able to pay it off in 3 years.

The terms dictate the maximum time.

V10omous
V10omous
15 days ago
Reply to  VanGuy

I’ve financed every new car I’ve bought except one, and almost all of them for 72 months. Never missed a payment, never been upside down (not that I would worry if I was).

No rate has ever been high enough where paying it off early has made sense vs. investing for retirement, but yes, that is always an option if you’re more conservative minded in your finances.

Goof
Goof
15 days ago
Reply to  V10omous

Yep, this. I don’t like financing, but I’m going to have to finance something within the next 7-11 months. Depending on delivery timing (don’t know build date yet) I’m putting between and 68 and 82% down. Granted this on a car that won’t depreciate, but also likely won’t appreciate for 10 years, and the ADM I have to pay (and sales tax) is money set on fire. Even if I had more time, I’d still likely finance 18% of the total transaction price. I have to buy now, or I have to pay the same or more (flipper markup) for some shitty spec I never wanted.

Why borrow? It’s a hedge against life going completely sideways. I have at least 18 months expenses liquid at all times, but I HAVE had life go sideways once before in my life and saw 14 months get eaten. Borrowing a bit lets me have yet more on hand to further insulate myself against catastrophe.

So for the chunk financed, 60mo@4.99% (NFCU cheapest lender). Why 60? Again, hedge against a curveball. Yet, my payoff approach is this:

  • The day I get the loan number? Quadruple payment. Why? It immediately moves me from Net 30 to at least Net 90.
  • After that, payments are 3.1x. Paid off in 17 mos.
  • That puts the total interest paid at 0.65-0.7% of the total price.

I hate paying interest, but increasing the total transaction price of the car by 0.65 – 0.7% to hedge against my life exploding for a while is cheap insurance to ensure I keep a literal dream car. If I was in the previous situation where 90% of my income evaporated (forcing a career change!), I can shoulder shrug. Things would be fine aside from, “money-go-down-syndrome.” Since it’s a simple interest loan I’m already getting ahead of, I could even stop payments for a while.

FrostyRam31
FrostyRam31
15 days ago
Reply to  Goof

I have at least 18 months expenses liquid at all times” weird flex but okay

Goof
Goof
15 days ago
Reply to  FrostyRam31

Not a weird flex. I was self employed. Ergo, I had no way to collect on unemployment insurance. So if income goes to 0, there’s no safety net. I had to be my own unemployment insurance, so I ensured I was.

Jj
Jj
15 days ago
Reply to  V10omous

Cars have held their value over a longer period, but we’ve been dealing with a period of limited supply.

The pandemic disruptions to production will be well worked out of the market (and used car values) by the time today’s new car reaches the end of it’s 72 month loan term.

V10omous
V10omous
15 days ago
Reply to  Jj

My statement encompasses the last 50+ years, not just the last couple.

Jj
Jj
15 days ago
Reply to  V10omous

I don’t think the current auto lending market backs that up. There are an astounding number of borrowers underwater on their cars for the entire (long) loan term.

They then roll the negative equity into the next loan that will probably end the same way (and will probably add another 12 months to the term to allow for paying for the last car).

The longer terms only exist because it’s the only way some buyers can conceive of affording the monthly payment. I can definitely keep a car longer than the loan term – no need to stretch interest over that entire period. Despite the deals posted in this article, most buyers are paying a lot of interest. With a rate approaching 10% on a $50k+ loan, it makes sense to keep the term as short as possible.

V10omous
V10omous
15 days ago
Reply to  Jj

Source?

A few people viral on social media do not make a trend. Default rates are very low compared to historical numbers.

https://fred.stlouisfed.org/series/DRCLACBS

Goof
Goof
15 days ago
Reply to  V10omous

Not default rates, but 20.4% of dealer trade-ins for car purchases had negative equity rolled in for Q4 2023. That was up from 17.7% in Q4 2022, and 14.9% in Q4 2021.

https://www.edmunds.com/industry/press/negative-equity-on-vehicle-trade-ins-pick-up-steam-as-used-car-values-dwindle-according-to-edmunds-q4-used-vehicle-report.html

However the peak for the percentage of financed transactions with negative equity was 32.8% in Q1 2017.

https://www.autocreditexpress.com/blog/negative-equity-highest-ever/

So 1 in 5 with negative equity is bad, but we’ve seen 1 in 3. The amount of negative equity is probably the highest in terms of absolute value (> $6000) but as a percentage of the transaction price, likely not the peak either, as that was still probably Q1 2017.

V10omous
V10omous
15 days ago
Reply to  Goof

Good stats, thanks

Bongo Friendee Harvey Park
Bongo Friendee Harvey Park
15 days ago
Reply to  V10omous

That was wholesome.

Most sites:

A: claim
B: sources?
A: google is your friend
B: your mom was my friend last night
A: typical [political/generational insult] mindset
B: [insult]

Here:

A: claim
B: sources?
A: [sources] + summary
B: good stats, thanks

Last edited 15 days ago by Bongo Friendee Harvey Park
Jj
Jj
15 days ago
Reply to  V10omous

I’m pretty sure there was a good article about it on here a while back.

I’m not talking about default rates (yet), but as long as loan terms can be stretched, defaults will be delayed. Pretty sure that TikTok silliness was at interest rates well over 10%. Toyota and Honda are both offering rates over 6% on most cars to buyers with excellent credit.

Ottomottopean
Ottomottopean
15 days ago
Reply to  Jj

People that roll negative equity into their next loan are not part of the equation when discussing if longer term loans are an inherently bad idea. Trading in your vehicle while carrying negative equity might be necessary in some cases (I’ve done it and I’m not proud of it, it seems to be a right of passage for younger auto enthusiasts with questionable judgement, which I count myself among them) but that’s not what is being discussed and is a separate issue.

I mean, as enthusiasts, we don’t just pay for what we need right? We take out loans because we want something more than what we could otherwise afford. Of all the people buying cars, those of us here and elsewhere in the community are uniquely qualified to know what might be a good car buy in the shitbox category that we could pay cash for without financing. But if we want more… if we want something more fun… we can use financing to do that.

I overpaid for my car. I’m ok with that. It had the options I want. It’s so much more fun to drive than a Camry or some other appliance. There. I said it. I’m fine with my choice

Yes we all have to evaluate our financial position but I don’t think any of my car purchases have been the correct financial choice.

Jason has said it enough it should be a tenet of the community: car purchases are emotional. We all know this.

Use all the tools at your disposal to make your life more enjoyable, financial and otherwise. None of us here should judge anyone else for their good or bad decisions about what car they bought or what means they used to buy it (barring illegal means of course).

Make yourself happy, don’t do anything illegal or be a dick, and enjoy life.

Bongo Friendee Harvey Park
Bongo Friendee Harvey Park
15 days ago
Reply to  Ottomottopean

That’s an interesting take. I’d only finance a sensible car. The special stuff is all cash or I just look at pictures of it.

Jj
Jj
14 days ago
Reply to  Ottomottopean

I’m not really judging the purchaser. It seems like predatory lending in a lot of cases.

It’s the kind of thing you can recover from if you’re young and expect a decent increase in your earnings. If you’ve got a family and are rolling negative equity into the new loan (by necessity – not as part of a plan), you’re probably going to end up in the same situation at your next purchase.

Brandon Forbes
Brandon Forbes
15 days ago

Meh, if they are going to offer me 0% I will take it on whatever term they offer. Why not? It’s not costing me anything, and allows me to use the cash I would be spending upfront on the car for investments that make me money. I am uncomfortable with 84 just because I do not ever see myself owning a car that long and I want it paid off before I try to trade it in, but I wouldn’t hesitate to take a 0% for 72 if offered. I usually pay cash, but if I’m not paying interest I will finance without a second thought.

Citrus
Citrus
15 days ago

If the interest rate is at 0% might as well stretch it out since the interest you make by putting the difference in payment size in investments or whatever is more valuable than paying it off faster.

Nsane In The MembraNe
Nsane In The MembraNe
15 days ago
Reply to  Citrus

Fair enough. I suppose my initial comment was a little silly.

Citrus
Citrus
15 days ago

I think it applies to high interest loans – a 72 month loan at 6% isn’t a good idea – but there’s a crossover point where it is actually smarter to go longer. My own car is financed at 0.79% so going longer made more sense – even if I’m very excited for the day when I don’t have that money leaving my bank account and wish it happened already.

Last edited 15 days ago by Citrus
Brandon Forbes
Brandon Forbes
15 days ago
Reply to  Citrus

^This. If you’re taking a long term loan with a high interest rate, that is a bad idea. But at 0% it’s not a big deal.

Stig's Cousin
Stig's Cousin
15 days ago

I disagree. Your comment about 72- and 84-month loans is perfectly reasonable.

Most buyers shop by monthly payment. Longer loan terms mean people are buying more expensive cars than they otherwise would have bought. Many buyers don’t consider how else they could have used that money or how an expensive car might impact their future selves. I don’t mind people buying expensive cars or taking out loans, but I find it problematic that people are spending money mindlessly. Long term car loans make it easy to unintentionally spend money, and that is not a good thing.

Also, long-term loans are not limited to car enthusiasts. Car enthusiasts might get a lot of enjoyment out of their vehicles, but the average person is just buying a transportation appliance. A car enthusiast prioritizing spending money on an expensive car makes sense. A person spending a lot of money on a transportation appliance they don’t particularly care about doesn’t make much sense.

I also find it troubling that people can’t be happy or content with a lower priced car. My cheap used Tesla isn’t a particularly cool car, but I genuinely like it. I find it sad that many people appear unhappy because someone else has a nicer car than they do. If people could be content with what they had as opposed to trying to chase happiness via luxury purchases, 72- or 84-month loans probably wouldn’t exist.

I know most commenters on this website don’t agree with my opinion on this matter, but that is fine.

Last edited 15 days ago by Stig's Cousin
Drew
Drew
15 days ago

3). Do not buy new EVs regardless of the financing deals. Lease them.

The EV6 tends to be a great lease deal, too, last I checked. The residual was pretty high, so you can get 3 years of one for super cheap, then swap out for whatever is on the market then.

As to loan lengths, if they’re offering 0% financing and you want to buy, why not? It’s a heck of a deal to hang on to more of your money for longer. Just make sure the dealer doesn’t pull some tricks to add interest or monthly fees. You should be able to pay off early if you decide to, so there should be no real downside (unless you wanna trade in sooner and are just afraid your trade will be less than you owe, but that shouldn’t matter if you haven’t been accruing interest–you’d still have paid the same amount overall, just a matter of timing).

Jesus Chrysler drives a Dodge
Jesus Chrysler drives a Dodge
15 days ago

72 and 84 month loans can just as easily be 36 or 48. Just pay the extra principal each month.

That said, I believe there is some magical thinking involved for some people who take out a 7 year car loan and cannot afford more than that minimum monthly payment.

That Guy with the Sunbird
That Guy with the Sunbird
14 days ago

This is what I did. I financed my then-new 2016 Mazda6 in October 2015 for 75 months but it was paid off by September 2019. I’m still driving it and the Mazda dealer still sends me regular brochures on the CX-5 and CX-50 and whatever financing deals they have.

I am enjoying not having a car payment while having a relatively young and reliable car. It just crossed 81,000 miles and is set to go on its 5th beach vacation road trip with us next month.

Last edited 14 days ago by That Guy with the Sunbird
Ottomottopean
Ottomottopean
15 days ago

For my situation I will look at the interest rate differences and generally take out a loan that is the max length at the lowest rate. If the rate jumps more than .25% I won’t go with the longer terms.

Then I will make payments at the shorter term cost to pay down early. This gives me flexibility to use my money more wisely. If there is a large expense I want to pay for I can make a smaller payment that month or whatever.

I have also been giving some younger friends the advice to take out an 84 month loan instead of picking up a lease. Leases are horrible and younger people are taken by them more often. Of course I also tell them they should pay extra as their income increases but I assume their reaction to that is something like, “ok boomer.”

Of course I’ve not tried this tactic or researched what this looks like at 7-8% interest. Those loans were easier to swallow at 2.75%.

Last edited 15 days ago by Ottomottopean
Pisco Sour
Pisco Sour
15 days ago

Isn’t the bZ4X the musician that recently collaborated with Shakira?

Jesus Chrysler drives a Dodge
Jesus Chrysler drives a Dodge
14 days ago
Reply to  Pisco Sour

No, bZ4X is Elon Musk’s latest kid’s name.

Parsko
Parsko
15 days ago

No slideshow?!?!?!?!

Brandon Forbes
Brandon Forbes
15 days ago

The 2024 bZ4X and Solterra both qualify for zero percent financing for 72 months, while the 2023 RZ450e is being offered with zero percent financing for 72 months.

Ok I am confused. How are these different?

Brandon Forbes
Brandon Forbes
15 days ago
Reply to  Brandon Forbes

I reread that like a dozen times, I get it now. The Lexus you have to go to last year’s model to get the deal, vs Toyota and Subaru are the latest and greatest. I feel like the wording makes that difficult to see the difference but it is Monday, so I might just be dumb today and it’s obvious to everyone else.

Jj
Jj
15 days ago
Reply to  Brandon Forbes

Thank you. I read it several times and entirely missed that distinction.

R53forfun
R53forfun
15 days ago
Reply to  Brandon Forbes

Model years: 2023 vs 2024.

But yeah, I had to read it 2-3 times :).

Last edited 15 days ago by R53forfun
Brandon Forbes
Brandon Forbes
15 days ago
Reply to  R53forfun

Yeah brain hasn’t recovered from the weekend yet. I caught it but only after I made myself look dumb in public. Oh well, that’s nothing new.

R53forfun
R53forfun
15 days ago
Reply to  Brandon Forbes

Lol. Neither has my brain, apparently, because I only just realized that you’d responded to *yourself* above to answer your own question. Sorry!

The public shame around here should be reserved for things that actually matter … like buying any of these 3 EVs at any price. Ahem.

Brandon Forbes
Brandon Forbes
15 days ago
Reply to  R53forfun

I think I replied to myself right as you were typing that so it makes sense. I have no shame, but yes, if I were to buy one of those I would have to try to find some. The only EV that is interesting to me right now is the 500e, and I know it would be a dumb purchase, but it’s just so darn cute!

Ben
Ben
15 days ago
Reply to  Brandon Forbes

It’s not just you. I was about to post the same thing when I noticed the single digit difference between them. It was a “find the difference” brain teaser. 😉

Data
Data
15 days ago

Seems most of these are 2023 models, got to clear out the old stock.

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