Just when we thought APR agreements were on the verge of extinction, FCA did an about-face before the next July 4th holiday. In addition to best rates on Jeeps, we are seeing more uninteresting car offerings from Dodge and RAM. Now we are even seeing 0% APR come back for 84 months in some parts of the country.
Starting today, Chrysler is offering 0% APR for 84 months on the 2020 Pacificas and Pacifica Hybrids to buyers in the Southwest. In the northeast, the 2020 Jeep Compass offers 84-month loans starting at 0.9% APR. As for the competition, the best 84-month New York rate on the 2020 Ford Escape is 4.9% APR.
On a $ 30,000 SUV, this rate difference translates to over $ 4,500 in interest over the life of the loan. Other brands like Kia still have 84 month deals but at rates starting at 1.9% APR. However, buyers should be aware that choosing some of these stellar sounding deals could come at a cost.
Because they are considered special offers, they cannot be combined with discounts and other promotions. In the case of the Pacifica, that could mean giving up a price incentive for employees that Chrysler says is worth up to $ 7,487 off the price of a well-equipped Pacifica Limited in places like New Mexico.
That said, while these deals are generally pretty good, they aren’t the best we’ve seen. For example, the 2020 Dodge Durango and Jeep Grand Cherokee are now eligible for 0% APR for 72 months. Earlier this month the best rate was 0.9%. But it’s not as good as a zero-rate March deal for 84 months.
Are there better deals on the horizon? It remains unclear. According to Cox Automotive, the percentage of deals involving 0% financing has dropped significantly. A growing shortage of stocks also made it harder to find certain vehicles and there are hidden restrictions that could prevent you from getting the best deal.
For example, RAM offers 0% APR for 72 months on its flagship pickup, the 2020 RAM 1500. However, the fine print actually indicates that the only styles eligible for tuning are the Big Horn and Lonestar editions of the. Quad and Crew Cabs. . In the case of Laramie or Limited versions, the 0% APR is limited to 36 months only.