Coronavirus and Car Buying: 0% Financing Deals Extended Through May and Beyond
In response to the economic anxiety caused by the ongoing COVID-19 pandemic, many automakers began offering 0% APR financing deals on their vehicles — assuming a buyer financed in-house and qualified for those terms. The offers began appearing in March and typically ended at the end of April. Of course, the current crisis didn’t end in April, so several of those same automakers with financing deals we’ve highlighted already have extended their offers’ expiration dates.
Related: Coronavirus and Cars: Can I Buy a Car or Have One Repaired in My State?
Notable highlights
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Here’s what we recommended — and still recommend considering — if you’ve got to buy a new car and qualify for 0% financing.
Fiat Chrysler Automobiles
Offer: 0% APR for 72 months; must take delivery from existing dealer stock by June 1
Our recommendations:
- 2020 Chrysler Pacifica, Pacifica Hybrid
- 2020 Jeep Compass
- 2020 Jeep Grand Cherokee
- 2019-20 Ram 1500 Quad or crew cab
- 2019 Ram 1500 Classic
The 2020 Ram 1500 Classic was also listed as one of our recommendations. The current offer of 1.9% APR for 60 months now only applies to 2020 Ram 1500 Classic models in Quad or crew-cab configurations. As with the above offers, buyers must take delivery from existing dealer stock by June 1.
GM
Offer: 0% APR for 84 months; must take delivery by June 1
Our recommendations:
- 2020 Buick Enclave
- 2019 Chevrolet Corvette
- 2020 Chevrolet Bolt EV
- 2020 Chevrolet Silverado 1500
- 2020 GMC Sierra 1500
The 2020 Cadillac XT4, another vehicle we recommended taking a look at when it was offered with 0% financing, is now offered with 0.9% APR financing for 72 months for qualified buyers. Unlike the above offers, this one is also combined with a $1,500 purchase allowance and a 120-day monthly payment deferral; the other GM brands have similar offers for their vehicles but do not allow for a combination of all three. The current deal on the XT4 also requires a buyer take delivery by June 1.
Hyundai
Offer: 0% APR for 36-84 months and 90 days until first payment; must take delivery from existing dealer stock by June 1
Our recommendations:
- 2020 Elantra GT, 0% APR for 60 months
- 2020 Kona, 0% APR for 60 months
- 2020 Santa Fe, 0% APR for 72 months
- 2020 Tucson, 0% APR for 84 months
- 2020 Venue, 0% APR for 36 plus $500 off
Infiniti
Offer: 0% APR for 72 months and 90 days until first payment, must take delivery by June 30
Our recommendations:
Kia
Offer: 0% APR for 66-75 months and 120 days until first payment; must take delivery from existing dealer stock by June 1
Our recommendations:
- 2020 Forte, 0% APR for 66 months
- 2020 Optima, 0% APR for 75 months
- 2020 Sorento, 0% APR for 75 months
- 2020 Soul, 0% APR for 66 months
- 2020 Stinger, 0% APR for 66 months
Volkswagen
Offer: 0% APR for 72 months and 120 days until first payment; offer expires June 1
Our recommendations:
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