Automakers are offering strong financing deals on new cars right now, including low interest rate loans and deferred payments. We're collecting a list of new car deals to help you get back on the road. We recommend considering your situation carefully before committing to a car loan or lease that creates a financial obligation you may carry for years. But if you need to purchase a vehicle now, it's important to understand the current buying landscape and know how to shop and buy quickly and safely.
Best Car Deals During the Coronavirus: Zero-Interest Car Loans and More
We'll continue to update this article as new information and offers become available.
New Car Incentives and Payment Deferral Programs
You can easily find financing deals, cash-back offers and more for cars, trucks and SUVs on our incentives page. We've also compiled a list of automakers currently offering special finance deals and payment deferrals for new buyers to give you a general overview of what's being offered.
Several companies are offering zero interest on long loan terms, as much as 72 or 84 months. We generally do not recommend taking on such a long loan; you can find out more in our article on six- and seven-year loans.
It's also worth noting that all of these auto loan offers are subject to approval and will depend on the buyer's credit score and other factors.
Current Deals in Response to the Coronavirus Pandemic
If you're wondering how the coronavirus is impacting car deals, you've come to the right place. We researched every automaker's coronavirus car incentives to come up with the following list of special opportunities and deals spurred by the pandemic.
Jaguar has 0% financing available, along with deferred payments for up to three months. The company will also pay the first two months of a new lease for returning lessees, up to $750 a month.
See Jaguar vehicles for sale near you
Kia is offering a 120-day deferral on your first payment and available 0% financing for loans from 24 to 60 months. The automaker says most dealerships have an online sales process available for purchase or lease of a new vehicle.
See Kia models for sale near you
Land Rover has no-interest loans available on select vehicles and deferred payments for the first 90 days. Land Rover will also pay the first two months of a new lease for returning lessees, up to $750 a month.
See Land Rover SUVs available in your area
Toyota is offering payment deferrals to buyers who purchase a new or certified pre-owned vehicle. The company has not specified the terms for these deferrals, but your dealer may be able to tell you more.
See Toyota models in your area
Dealership Changes in Response to the Coronavirus Pandemic
Just like you, employees at auto dealerships want to act in the interest of public health. Many are increasing their scheduled cleanings to disinfect surfaces and encouraging employees to stay home if they feel sick. A few are even closing entirely, so be sure to check whether your local dealer is open. Critically, your dealer may allow you to conduct the entire car buying process virtually.
Sales associates can show you the vehicle via video or FaceTime. Credit applications can be emailed to you. You can also trade in a vehicle at some dealerships without an in-person visit — photos of the odometer, interior, exterior and vehicle identification number are all that's needed to get an offer. When all is said and done, some dealers will even drive the vehicle to your house for delivery.