0% Financing Deals Available Until 2013
This means banks will be able to borrow money at near 0% interest, making it easier for them to offer low interest loans to consumers.
This is good news for car buyers since interest rates on car loans will remain low or possibly even head lower.
Right now, if you have excellent credit (check your credit score here), you can get an auto loan for as low as 2.9% from major lenders such as Capital One Finance.
In the near future, these rates may drop even lower - and these are loans with no incentives attached!
Right now, most car makers are offering a slew of financing incentives, with a good portion offering 0% financing.
We're sure to see these trends continuing until at least 2013 and we'll likely see more 0% financing deals with terms of up to 72 months.
You can read more about how to save money on car loans in our Car Loan Guide section.
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and NADAGuides 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.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid