There are some pretty serious car deals and various financing options available in the wake of the ongoing crisis. Automakers are desperate to make sales and minimize projected deficits as we near toward a potential recession.
If you’ve been on the hunt for a new car, here are a few of the most popular car brands with some of the most tempting financing deals in the market right now. We are currently in a buyer’s market so there may be even more opportunities to negotiate additional rates further.
Ford is offering interest-free financing for 84 months and a deferred payment plan for the first 120 days which includes Ford Motor Company and Lincoln. Ford is specifically looking to entice customers by offering to delay customers’ first payment on their new car for a supplementary 90 days in addition to completing their first three loan payments. If you buy an eligible Ford by April 30, you can delay payment for six full months.
Volkswagen has a 0% APR rate for 72 months (six years) with no money down and deferred first payment for 180 days. Customers must qualify and finance through Volkswagen Credit. There are also special offerings available for active military personnel, veterans and first responders through January 2021. Current deferment deal options are currently applicable to new models for 2019 and 2020 from now through April 30.
Honda is also trying to make buying a new car easier for customers with their 90 Days to First Payment program for all new vehicles to qualified customers through Honda Financial Services. Buyers may be eligible for the loyalty purchase assistance cash program where they can receive $1,000 toward the purchase or lease of a new Honda vehicle.
Special APRs are available for select models like the Accord, Civic, and CR-V beginning April 17 through June 1. Honda’s luxury division, Acura is also deferring the first payment by 90 days by financing through Acura Financial Services, $500 in loyalty cash toward new purchase or lease, and reduced APR financing for certified pre-owned TLX and RDX models. These rates are also available now through June 1.
Fiat Chrysler Automobiles
Fiat Chrysler Automobiles has an offer right now for no payment for 90 days and 0% APR for 84 months (seven years) on select cars for qualifying customers. To qualify, customers must go through FCA’s Chrysler Capital for approval. The free financing options vary by brand and model and complete details are available on each brand’s site:
- Dodge: Incentives and offers include deferred payment plans available on nearly all models except for the 2019 Durango, 2020 Durango SRT, 2019 and 2020 Charger SRT Hellcat, and 2019 and 2020 Challenger SRT Hellcat and Hellcat Redeye.
- Chrysler: Deals on Chrysler models include 0% APR 2020 Chrysler 300 and 2-2- Voyager L.
- Jeep: The 0% APR for 84 months offer applies to the 2019 and 2020 Renegade and 2020 Compass along with other financing and leasing options.
- Ram: Deals are available on various models like the 2019 and 2020 1500 crew cab.