Interest rates remain high and economic signs suggest they might rise even higher in the weeks ahead. Those looking to purchase and finance a new car with the current model year ending and dealer discounts on leftover inventory becoming more urgent could find any savings off a given model's MSRP wiped out by the additional interest charge.
Average car-loan rates are currently around 6%-9% for those having good credit, which on a $50,000 vehicle over a period of five years with $5,000 down at 7% interest can total $8,463 in financing costs, according the Bankrate.com calculator.
Some shoppers are having to resort to longer-length loans to help keep their monthly payments affordable, with terms as long as six or seven years becoming increasingly common. Experian says the average new-vehicle loan term is now around 70 months, with a third of all new-vehicle loans now for six or more years.
Arguably the best way for astute new-vehicle shoppers to make the transaction more affordable is to choose a model for which the manufacturer's financial division is offering cut-rate financing. Automakers are offering a plethora of new-vehicle deals at below market rates this month, with most in the 3%-4% range, and a substantial number (listed below) being offered at a money saving 0.9%-0%.
Some of the sweetest deals combine super-low loan rates with cash rebates to help bolster a buyer's down payment. The best deal in this regard is the (soon to be dropped from the U.S. market) Polestar 3 that's being offered with 0% financing and a substantial $18,000 cash rebate.
Unfortunately the lowest subsidized financing rates are typically limited to those having stealer credit ratings. This is where the advertising caveat "for qualified buyers" comes in to play.
Car companies detail monthly promotional deals on their websites – including cash rebates, financing offers and lease deals – usually under a "Special Offers" or similar tab. Take note that such promotions often vary somewhat from one part of the country to another (the below are from the Chicago region), so be sure to enter your zip code when searching for a given brand's current crop of incentives.
And take note that applicable financing and cash-back deals are in addition to the negotiated purchase price, which should be considered separately – never buy a new vehicle according solely to a quoted monthly payment.
2026 BMW 330i: 0.9% for 60 months
2026 BMW 7 Series: 0.9% for 60 months plus $2,000 cash back
2026 BMW i7: 0.9% for 60 months plus $7,500 cash back
2026 BMW x3: 0.9% for 60 months
2026 BMW x5: 0.9% for 60 months plus $1,000 cash back
2026 BMW x7: 0.9% for 60 months
2026/2027 Cadillac Vistiq: 0.9% for 72 months
2026 Chevrolet Silverado 1500: 0% for 60 months, plus 90 days' deferred payments
2026 Chrysler Pacifica: 0% financing for 36 months
2026 Genesis GV60: 0% for 60 months
2027 Genesis Electrified GV70: 0% for 60 months
2026 Genesis GV80: 0.49% for 48 months
2026 GMC Sierra 1500: 0% for 60 months, plus 122 days' deferred payments
2026 Honda Prologue: 0% for 60 months
2026 Hummer EV Pickup/SUV: 0.9% for 36 months
2026 Hyundai Ioniq 5: 0% for 72 months plus 90 days' deferred payments
2026 Hyundai Ioniq 9: 0% for 72 months plus 90 days' deferred payments
2026 Hyundai Santa Fe: 0.9% for 60 months, plus 90 days' deferred payments and $1,500 cash back
2026 Hyundai Santa Fe Hybrid: 0.9% for 60 months, plus 90 days' deferred payments and $1,500 cash back
2026 Hyundai Sonata: 0.99% for 60 months
2026 Hyundai Tucson: 0.9% for 60 months
2026 Hyundai Tucson Plug-In Hybrid: 0.9% for 60 months
2026 Infiniti QX80: 0% for 60 months plus $3,000 cash back
2026 Jeep Cherokee: 0% for 72 months
2026 Jeep Wrangler: 0% for 72 months
2027 Kia EV3: 0.9% for 48 months
2026 Kia EV6: 0% for 60 months
2026 Kia EV9: 0% for 60 months plus $5,000 cash back
2026 Kia Sorento: 0% for 48 months
2026 Kia Sorento Hybrid: 0% for 48 months
2026 Kia Sorento Plug-In Hybrid: 0% for 48 months
2026 Kia Sportage: 0% for 48 months
2026 Kia Sportage Hybrid: 0% for 48 months
2026 Kia Sportage Plug-In Hybrid: 0% for 48 months
2027 Kia Sportage Hybrid: 0.9% for 48 months
2026 Kia Niro EV: 0% for 72 months plus $3,500 cash back
2026 Mazda Mazda3: 0% for 36 months plus 90 days' deferred payments
2026 Mazda CX-30: 0% for 36 months plus 90 days' deferred payments
2026 Mazda CX-5: 0% for 60 months plus 90 days' deferred payments
2026 Mazda CX-50: 0% for 36 months plus 90 days' deferred payments
2026 Mazda CX-50 Hybrid: 0% for 36 months plus 90 days' deferred payments
2026 Mazda CX-70: 0% for 60 months plus 90 days' deferred payments
2026 Mazda CX-70 Plug-In Hybrid: 0% for 72 months plus 90 days' deferred payments
2026 Mazda CX-90: 0% for 60 months plus 90 days' deferred payments
2026 Mazda CX-90 Plug-In Hybrid: 0% for 72 months plus 90 days' deferred payments
2026 MINI Cooper C 4-Door: 0% for 48 months
2026 MINI Cooper C 2-Door/Convertible: 0.9% for 48 months
2026 MINI Cooper S 2-Door/4-Door/Convertible 0.9% for 48 months
2026 Mitsubishi Outlander Trail Edition: 0% for 72 months
2026 Nissan Frontier: 0% for 60 months
2026 Nissan Murano: 0% for 60 months
2026 Nissan Pathfinder: 0% for 60 months
2026 Nissan Rogue: 0% for 60 months
2026 Nissan Rogue Plug-In Hybrid: 0% for 60 months
2026 Polestar 4: 0% for 60 months plus $18,000 cash back
2026 Ram 1500: 0% for 60 months
2026 Subaru Solterra: 0% for 48 months
2026 Subaru Ascent: 0% for 72 months
2026 Subaru Trailseeker: 0% for 72 months
2026 Subaru Uncharted: 0% for 72 months
This article was originally published on Forbes.com