0% Financing is great because it allows you to save money, that you can’t normally save because the banks are charging you! 0% Financing allows you to purchase a vehicle without having to worry about how much you are being charged for borrowing the auto loan. This can save you thousands upon thousands of dollars.
For example, if you were to buy a new 2017 Ford Escape SE for $30,939 and finance the purchase at 0% for 72 months your monthly payments would be $430; if you were to finance the same escape at a rate of 5.99% your payment would be $513! That means that you are saving $83 a month! When you calculate that interest rate savings over the 72-month term you would save $5,976 in interest alone
Another example would be if you were to purchase a 2016 Ford F-150 Lariat for $57,199 and finance the purchase price at 0% for 72 months your monthly payments would be $795; if you were to finance the same F-150 at a rate of 5.99% your payments would be $948! That means that you are saving $153 a month! When you calculate that interest rate savings over the 72-month term you would save $11,016 in interest alone!
0% interest rates are also very beneficial for those who are trying upgrade their current vehicle, this is due to the savings that are available. If you still owed money on the vehicle that you are planning on trading in, the savings on the 0% interest will help cover the balance owing on your previous car! This allows to get out of your current vehicle quicker while still being able to keep your payments lower than they would be if you were to purchase the new vehicle when 0% isn’t available.
Overall you could look at 0% financing as the bank giving you free money instead charging you to borrow it…and who doesn’t like free money?
0% financing allows you to be able to save money that you wouldn’t be able to save at any other point of time during the year if you were to purchase the same vehicle!If you are in the market or are thinking of purchasing a new vehicle in the near future, it is definitely worth your while to come down to the DK Ford and let us show you how much you could be saving right now for purchasing the vehicle you want at a time when you can save thousands of dollars in interest! Call and ask to speak to one of our sales associates today!