Car buyers are encouraged to seek vehicles with 0% financing options, particularly for less popular models, such as the Subaru Solterra or Ford Mustang Mach-E. By doing so, they can potentially save thousands of dollars over the life of the loan compared to higher interest financing options. With rising interest rates impacting overall car loan costs, smart financing can lead to significant savings.
The article highlights that buyers should not assume their banks have the best rates, as even long-term customers of banks may receive high-interest quotes. For instance, one customer was quoted over 7% from Chase despite having good credit. It stresses the importance of comparing offers from car manufacturers and credit unions to find more competitive financing options.
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