Best 0% APR Car Deals: May 2024 (2024)

Finding an enticing 0% financing deal on a new vehicle can seem like an uphill battle, but some automakers are still offering these money-saving incentives despite rising interest rates.

If you have excellent credit, taking advantage of a 0% APR car deal could save you thousands over the life of the loan. Let’s dive into the hottest 0 percent financing for 72 months offers available in May 2024.

Best 0% APR SUV Deals

Regarding sport utility vehicles, there are still plenty of opportunities to score a 0 percent financing for 72 months SUV this month.

Volkswagen Taos Financing Deal: 0% APR For 60 Months

Volkswagen’s affordable Taos crossover is an unexpected recipient of an excellent 0 percent financing for 72 months deal. Through July 1st, 2024, every 2024 Taos model qualifies for a 0% APR loan for up to 60 months.

This is the best financing incentive Volkswagen has offered on the Taos. As an alternative, buyers can opt for a $1,500 Customer Bonus rebate, though the two offers cannot be combined.

Nissan Rogue Financing Deal: 0% APR For 36 Months

The popular Nissan Rogue joins the compact SUVs featuring a 0% APR car deal. However, the no-interest financing is restricted to loans with terms of just 36 months.

Longer loan durations are available but carry higher APRs, such as 2.9% for 60 months. It remains to be seen if Nissan will sweeten 0 APR car deals around the upcoming holidays.

Mazda CX-50 Financing Deal: 0% APR For 36 Months

In California, Mazda has made its rugged CX-50 SUV eligible for 0 percent financing for 72 months through June 3rd, 2024.

This incentive only applies to Select, Preferred, Premium, and Premium Plus trims. Curiously, the deal had previously favored turbocharged CX-50 models instead.

Ford Edge Financing Deal: 0% APR For 72 Months + $3,000 Off MSRP

Those shopping for a two-row midsize SUV will be hard-pressed to find a better value than Ford’s offer on the 2024 Edge.

Buyers in select states can use a 0 percent financing for 72 months loan stacked with $3,000 in bonus cash discounts off the MSRP. This exceptional deal is slated to end on July 8th, so act fast.

Ford Mustang Mach-E Financing Deal: 0% APR For 72 Months + $3,000 Off MSRP

The all-electric Ford Mustang Mach-E continues to be an ambassador for outstanding incentives. After topping out at 60 months of interest-free financing, Ford has extended its best-ever offer to a remarkable 0 percent financing for 72 months term.

Even better, California Route 1 and GT Performance Edition trims can combine this with $3,000 in bonus cash rewards.

It’s worth noting that recent Mach-E price cuts of up to $8,100 have made this EV more attainable, although it no longer qualifies for federal tax credits.

Kia EV6 Financing Deal: 0% APR For 60 Months

Several months ago, Kia introduced its first 0% APR car deal on the EV6 electric SUV, matching rival Hyundai’s incentive on the IONIQ 5.

To take advantage of 0 percent financing for 72 months, however, buyers must forgo Kia’s $7,500 rebate offer – a tradeoff worth considering.

Hyundai IONIQ 5 Financing Deal: 0% APR For 60 Months

Through June 3rd, Hyundai is providing 0 APR car deals on its popular IONIQ 5 EV, with 0 percent financing for 72 months available across all trims.

While this no-interest loan may appeal to buyers, Hyundai also has a $7,500 Retail Bonus Cash rebate on the table – albeit one that cannot be combined with the 0% APR incentive.

For many, leasing could be the smarter financial choice, with offers providing up to $10,000 in upfront savings and monthly payments as low as $229 in most regions.

Toyota bZ4X Financing Deal: 0% APR For 72 Months + $2,500 Off MSRP

The 2024 Toyota bZ4X electric SUV represents another opportunity to combine interest-free financing with a cash discount.

Through early June, Toyota is offering 0 percent financing for 72 months along with $2,500 in TFS Bonus Cash that effectively acts as a rebate when taking the promotional APR.

Those looking to lease may find even more appealing deals, with some markets advertising the bZ4X from just $189 per month after stacking over $16,000 in lease cash incentives.

Subaru Solterra Financing Deal: 0% APR For 72 Months

Subaru has cut financing rates on the 2024 Solterra EV to an impressive 0 percent financing for 72 months.

However, those looking to lease may find the Solterra’s affordable payments even more enticing – such as a $329 monthly lease for 36 months with nothing due at signing in many regions.

Nissan Ariya Financing Deal: 0% APR For 72 Months

The 2023 Nissan Ariya received Nissan’s best financing incentive to date, which was 0 percent financing for 72 months.

This is a stellar improvement over the crossover’s previous 5.5% APR. However, buyers will no longer be able to combine it with the $3,750 in NMAC Special APR Cash that was formerly available.

Lessees also stand to benefit, with Nissan offering short 18-month LEAF leases that leverage higher residual values for extra affordability.

Best 0% APR Car Deals

Toyota Mirai Financing Deal: 0% APR For 72 Months + $30,000 APR Cash

Regarding 0 finance car deals, none can top Toyota’s astounding offer on the hydrogen-powered Mirai sedan.

Available exclusively in California, the 2024 Mirai qualifies for 0 percent financing for 72 months and a mind-boggling $30,000 in APR Cash discounts on the range-topping Limited trim.

Even the base Mirai XLE comes with $22,000 in bonus cash – though sadly, these incentives cannot be combined with Toyota’s lease offers.

Are 0% APR Car Loans Worth It?

With the allure of 0% financing deals comes the lingering question: are they worth pursuing? The answer isn’t always straightforward, as several factors need to be weighed carefully.

For example, consider a scenario where a truck manufacturer provides buyers with a choice between 0 percent financing for 72 months or a $10,000 cash rebate on a $50,000 vehicle.

Taking the 0% APR route would result in a $694 monthly payment before taxes and fees, totaling the entire $50,000 sale price after 72 months.

Alternatively, applying the $10,000 discount would reduce the total cost to $46,382 – yet assuming a 5% APR, the monthly payment rises slightly to $644.

Over the loan’s lifetime, choosing the rebate saves $3,618 despite the higher interest rate.

This simple illustration highlights the importance of calculating the overall expenditure versus just focusing on attaining the lowest monthly obligation.

While a 0 apr car deal may seem alluring from a budgeting perspective, securing a sizeable rebate could ultimately be the greater long-term value – avoiding the risks of potential negative equity often accompanying lengthier, lower-payment loans.

Of course, individual circ*mstances play a pivotal role, too. Tight finances may necessitate prioritizing an affordable monthly payment over long-term savings, making that 0 percent financing for 72 months very appealing.

It’s a delicate balance that requires carefully weighing your needs and constraints.

It’s also crucial to understand that such attractive 0 APR car deals have become increasingly scarce amid rising inflation and interest rates.

The Federal Reserve’s aggressive cycle of rate hikes has prompted many automakers to scale back or discontinue their zero-interest offerings entirely. When you come across one of these elusive deals, it’s generally wise to consider it while availability lasts.

Ultimately, there is no one-size-fits-all answer to whether a 0% financing deal represents the best value. Much depends on your unique situation, preferences, and financial priorities. However, a few universal tips can help maximize your savings:

• Compare Total Costs: Always calculate the overall expenditures of each option, not just the monthly payments.
• Consider Opportunity Costs: Factor in potential lost rebates/discounts that cannot be stacked with 0% APR.
• Mind Loan Terms: Shorter loan durations reduce interest paid but increase monthly costs.
• Time Your Purchase: Holidays and year-end clearances often yield the most lucrative incentives.
• Assess Needs vs. Wants: Splurging on too much car can negate interest savings.

By carefully evaluating the tradeoffs and thinking ahead, you can confidently determine if that tempting 0 apr car deal aligns with your short and long-term financial objectives.

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FAQs

Will car interest rates go down in 2024?

It’s uncertain. Interest rates depend on economic conditions, which can fluctuate.

Should I buy a new car in 2024?

The decision depends on factors like your financial situation and transportation needs. Evaluate carefully before making a decision.

Do any cars offer 0% finance?

Certain car manufacturers may provide 0% financing deals on select models or during promotional periods.

Is there a catch to 0% APR?

There might be. Eligibility criteria such as credit score requirements or limited availability may apply. It’s essential to understand all terms and conditions before committing.

Conclusion

As you can see, May 2024 presents a range of compelling 0 percent financing for 72 months opportunities across multiple vehicle segments. From affordable compact SUVs to cutting-edge electric models, automakers are still dishing out zero-interest loans to entice buyers – though good credit is typically a prerequisite.

While the specifics of qualifying APR offers vary by region, our comprehensive overview provides a solid starting point for your research. Cross-reference with local dealers for customized, up-to-date pricing details and incentives based on your area and credit profile.

When it comes to whether these 0% APR car deals are genuinely worth pursuing, there is no universal right or wrong answer. Careful budget analysis needs, as well as overall financial implications, are paramount.

In some cases, a lucrative cash rebate may outweigh the appeal of interest-free financing over the vehicle’s entire ownership cycle. Regardless of your chosen path, one key takeaway remains: As inflation continues exerting upward pressure on interest rates, these rare 0 apr car deals could soon become even more elusive.

If securing a zero-interest auto loan aligns with your priorities, it may be wise to consider acting sooner rather than later before these opportunities evaporate. What other tips or thoughts about nabbing the best 0% APR deals? I’d love to hear your experiences and perspectives in the comments below!