How to Find the Best Car Finance Deals

How to Find the Best Car Finance Deals

Car financing deals or incentives and rebates, also known as incentives or rebates, can help you save money when purchasing a new vehicle. Manufacturers or dealerships may provide these offers in the form of cash discounts or discounted APR rates for financing options.

Your best bet for finding 0% APR financing offers is to visit the manufacturer’s website, where often there will be set loan terms of 72 or 84 months available.

0% APR

Many car dealers offer zero APR financing offers on new vehicles to encourage sales. But consumers should exercise caution when considering these offers: typically limited to certain makes and models of car as well as having lengthy loan terms that require excellent credit to qualify for financing.

As zero percent loans are typically only offered through manufacturer captive financing companies such as Ford Motor Credit or Toyota Financial Services, to ensure buyers can make monthly payments, it is important that buyers carefully consider how much they can afford each month and whether repayment terms meet their budgets and timelines. Beyond considering zero APR car loans there may also be other financial incentives worth exploring.

No down payment

Car loans are secured debts used to purchase new or pre-owned vehicles. Even if your credit is less-than-perfect, financing can still be found that meets your needs if you do some research first before visiting dealerships; improving your score and making down payments may increase the odds that better terms become available to you.

Many automakers offer zero interest car loans through their captive finance companies, often coupled with higher sales prices or additional features such as extended car warranties. Such loans may also be more costly due to their extended duration.

Before visiting a dealership, you can shop for vehicles online and get preapproved before visiting. Lenders such as Autopay provide car financing offers based on your profile and credit situation while others, like myAutoLoan, enable you to compare loan offers before selecting your best option.


Cash-back incentives can be an excellent way to reduce car ownership costs. Manufacturer rebates provide rebates that directly lower both your buying price and cap cost (if leasing), plus typically offer lower interest rates than traditional loans.

Manufacturers offer these deals in order to clear out inventory at the end of a model year or make space available on their lots for new vehicles. Many times these offers include zero or low interest financing to encourage potential new-car buyers.

Experts advise reinvesting your cash-back rebate in your car purchase, to cover down payments, license plate fees and monthly payments. Or use it to pay off debt with higher-than-average interest rates.


Leasing a car may seem appealing as it typically results in lower monthly payments and allows for tax write offs at tax time. Unfortunately, however, leasing does not build equity in your vehicle and can cost more over time.

Lease agreements typically contain mileage limits; exceeding this mileage threshold will incur an extra charge. Some leasing companies offer gap insurance to cover what your car insurance doesn’t. Furthermore, leasing companies require a security deposit, first month’s payment and leasing administration fee (some fees may be refundable at the end of your lease period), so it is wise to carefully compare costs before selecting a car lease deal.

Captive financing

Many car dealerships and companies feature captive auto lenders that provide loans directly at their dealerships, making the financing process more convenient by making it possible to apply for your loan at the same place you purchase your car. Captive lenders may provide useful loan opportunities for people with less-than-perfect credit who might otherwise struggle to qualify through banks; it also makes the loan application process simpler since many times applying directly at a dealership is quicker.

However, captive lending may come with higher prices and interest rates, and can aggressively upsell you on add-ons or upgrades that might not be necessary. As this could cost more in the long run, it’s wise to research all available financing options prior to applying for captive financing from one lender; typically only those with credit scores of 620+ qualify.

Janet Jackson

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