- Alex Bernstein
- Senior Pricing Analyst
- Aug 08, 2024
TABLE OF CONTENTS
- Best 0% APR SUV Deals
- Best 0% APR Car Deals
- Best 0% APR Truck Deals
- Are 0% Car Loans Worth It?
The best 0% financing deals on new cars, SUVs, and trucks in August 2024 feature no-interest auto loans for 72 months plus as much as $33,000 in financing incentives that can save you money. In many cases, 0% APR deals on cars can easily beat the best current interest rates from banks and credit unions.
While it may seem like rates are only going up, some car brands are still offering zero-interest loans on cars. Most of these incentives may require top-tier credit to qualify and can sometimes vary by region. Be sure to check with your local car dealership for customized financing based on your credit score.
Best 0% APR SUV Deals
Ford Mustang Mach-E Financing Deal
- 0% APR For 72 Months + $750 Off MSRP
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On August 1st, all 2024 Ford Mustang Mach-Es became eligible for 0% financing for 72 months. Previously, 0% APR was limited to 60 months. Additionally, Ford Credit is offering $750 in bonus cash on new loan contracts. This marks the best deal to date on the 2024 Mach-E.
Having said that, the outgoing model had zero interest for 6 years plus up to $3,000 in bonus cash on GT styles. We think there's a strong chance that better deals could be on the way for this all-electric crossover SUV. As before, the Mach-E remains ineligible for a federal tax credit.
Mitsubishi Outlander Financing Deal
- 0% APR For 48 Months + $3,000 Off MSRP
Get Your Quick Quote
The 2024 Mitsubishi Outlander is one of the few vehicles in its class with 0% financing. Through September 3rd, both gas and PHEV versions of the SUV offer zero interest for 4 years. Alternatively, Mitsubishi is offering a $2,000 Customer Rebate.
The Outlander plug-in hybrid has an unusual combination of incentives right now. In addition to 0% APR, you can get $1,000 in Trade-In Assistance on all styles plus $2,000 in VIN Specific Select Inventory Bonus Cash on specially tagged units in stock.
Mazda CX-50 Financing Deal
- 0.9% APR For 60 Months
The 2024 Mazda CX-50 has pretty good deals in some parts of the country. In Southern California, all versions are eligible for 0% APR financing for 36 months. However, we think shoppers may find the brand's 5-year rate of 0.9% to be more appealing for lowering the SUV's monthly payment.
The biggest tradeoff in our view is that Select and Preferred trims are eligible for $2,500 in Customer Bonus Cash. As far as we can tell, the rebate can't be combined with low-interest financing. Interestingly, Mazda's 60-month CX-50 financing rate is lower than the 2.9% deal you'll see on the CX-5.
Volkswagen Atlas Financing Deal
- 0.9% APR For 60 Months
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It's not 0% APR but this month's deal on the 2024 Volkswagen Atlas gets awfully close. Through September 3rd, all styles offer 0.9% financing for 60 months. On a $45,000 SUV, this ultra-low rate would cost roughly $1,000 in interest. That's pretty good since the average rate is currently over 7%.
Having said that, you may want to weigh your choices carefully. That's because VW is also offering a $3,500 Customer Bonus. The downside is that it can't be combined with low-interest financing. Peak Edition models also get a $750 Dealer Bonus offer for up to $4,250 in combined savings this month.
Volkswagen ID.4 Financing Deal
- 0% APR For 72 Months
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Through September 3rd, 2024 Volkswagen ID.4 EVs offer 0% financing for 72 months. The catch is that only the entry-level ID.4 Standard and S trims are eligible for the incentive. If you're looking to buy any other version of the ID.4, expect to pay a much higher interest rate of 6.9%.
Hyundai IONIQ 5 Financing Deal
- 0% APR For 60 Months
Get Your Quick Quote
Through September 3rd, Hyundai is offering 0% financing for 60 months on all versions of the 2024 IONIQ 5. While we certainly love the option of having 0% APR, Hyundai is also offering $7,500 in Retail Bonus Cash. The offers can't be combined, so be sure to consider which deal makes sense for you.
2024 Hyundai IONIQ 5 EV leases offer up to $14,500 in savings with offers starting at just $209 per month in most parts of the country. In many cases, an IONIQ 5 could be a lot better to lease than to buy, especially when taking advantage of the potential savings of a Hyundai Single Pay Lease.
Kia EV9 Financing Deal
- 0% APR For 48 Months
Get Your Quick Quote
Once again, 2024 Kia EV9 crossovers have zero-percent financing for up to 48 months. There's also a 60-month option at 0.99%, plus a 72-month rate of 1.99%. The downside, like most deals of this type, is that you'll have to give up a $7,500 Customer Cash incentive when taking low-interest financing. Through September 3rd, returning Kia customers can also get a $1,000 loyalty discount.
Toyota bZ4X Financing Deal
- 0% APR For 72 Months + $2,500 Off MSRP
Get Your Quick Quote
Through September 3rd, all versions of the 2024 Toyota bZ4X feature 0% financing for 72 months. Toyota is also offering $2,500 in TFS Bonus Cash. This is essentially a rebate that you can only get when financing at promotional rates.
For an even better deal, consider a lease. In Southern California, the bZ4X has $15,250 in lease cash and offers starting at just $239 a month. That could make the bZ4X surprisingly affordable for an SUV with an MSRP over $40,000.
Subaru Solterra Financing Deal
- 0% APR For 72 Months
Get Your Quick Quote
Earlier this year, Subaru cut 2024 Solterra financing rates to 0% APR for 72 months. Having said that, Solterras continue to have some of the best EV lease deals. In most parts of the country, the 2024 Solterra Premium can be leased for $329 for 36 months with no money down.
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Best 0% APR Car Deals
Subaru Outback Financing Deal
- 0% APR For 36 Months
Get Your Quick Quote
For the first time in years, the Subaru Outback has 0% APR as part of a regional deal we're seeing in California and Colorado. Through September 3rd, all trims offer zero-percent financing for 36 months. In places like New York and New England, Subaru is offering 2.9% financing for up to 72 months.
Toyota Mirai Financing Deal
- 0% APR For 72 Months + $33,000 Off MSRP
Get Your Quick Quote
The 2024 Toyota Mirai still has the best financing deal on any car. Although the hydrogen-fuel-cell-electric car is only sold in California, buyers can get no interest for 6 years and as much as a $33,000 discount that you can only get when financing.
The Limited trim has the best deal, while the entry-level Mirai XLE offers a $25,000 discount. The catch is that these discounts are only available when buying and not when leasing. This remains one of the best deals on an electrified vehicle.
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Best 0% APR Truck Deals
Nissan Titan Financing Deal
- 0% APR For 60 Months
Get Your Quick Quote
Nissan is continuing to offer 0% financing on the 2024 Titan pickup. Through September 3rd, all trims can be purchased interest-free for up to 5 years. Previously, the rate was 3.9%. Alternatively, Nissan is offering a $3,000 Customer Cash incentive that can't be combined with the 0% financing.
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Are 0% APR Car Loans Worth It?
If you're tempted by 0% APR, it's important to keep in mind that there may be factors that determine whether or not 0% APR is worth it. At one point, RAM offered a choice between 0% APR for 72 months and $10,000 in savings. To find the best deal, you may need to weigh the total cost versus the monthly payment.
On a $50,000 truck, taking the financing would cost $50,000 at $694/month before taxes & fees. With a $10,000 discount, the same truck would cost $46,382 at $644/month assuming a rate of 5%. Here, taking the rebate would cost $50 less per month and be over $3,600 more affordable over the course of the loan.
So should you choose rebates or 0% APR? That depends. You may find that a lower payment trumps all for the sake of affordability. However, it's also important to look at the total cost and weigh the risks of negative equity. After all, lower payments can make it very easy to buy more car than you may be able to afford.
Sadly, rising inflation has promoted multiple Fed rate hikes. As a result, 0% APR car loans have become a lot harder to find. Even if you can manage to score a zero-interest loan, the odds are that the term will be a lot shorter than you'd like. Consider timing your purchase to find the best times to buy a car.
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Alex Bernstein Senior Pricing Analyst
Alex has been writing about car buying and leasing for over a decade. Originally from San Francisco, Alex has a degree in History from the University of California, Santa Barbara, and has been a lifelong lover of cars. Alex’s work has been featured in publications such as Forbes, The Wall Street Journal, Motor Trend, and more.
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