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GM, Toyota and Ford All Offering 0% Financing

March 11, 2010

Whether it's to offset poor public opinion or to remain competitive within the industry, several automakers are choosing to make March the month for 0% financing for well-qualified buyers.

Toyota started the movement with 0% financing on the 2010 Camry for three, four and five year loans, along with $2,000 dealer cash rebates. Other models that qualify for the 0% deal include the 2010 Highlander, 2010 Tundra and 2010 Yaris, although some are only valid for shorter-term loans.

General Motors is matching those deals on most of its trucks; for passenger cars in the 2010 model year the most likely option will be rebates of up to $3,000. 2009 models are a particularly good buy right now as dealers try to clear them off the lots. Discounts include 0% financing for up to 72 months or up to $4,000 cash back.

Ford, the latest entrant to the low financing rate wars, is offering deals on the Mercury Milan as well as the Ford Focus, Fusion and Mustang on short-term loans. Longer deals are possible for SUVs in its lineup.

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My Recommendation for Car Shoppers

TrueCar No-Haggle, Edmunds Price Promise, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.

California Residents - Important:

There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.

- Gregg Fidan

Gregg Fidan

About: Gregg Fidan

Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.

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