Over time, the finance charges you pay on your car loan can add up to several thousand dollars, which greatly increases the amount your car actually costs you. Current auto loan rates are averaging 3.23 percent, which means you'll pay an extra $840 for every $10,000 you finance with a five-year loan.
By finding a new car deal that includes zero percent financing, your monthly payment is not only lower, but you will also pay less overall for your car loan. The best zero percent APR deals take this a step further by adding cash back offers to the finance special. It can be overwhelming to sort through the hundreds of new car deals available each month, so we've tackled the hard part for you. Read on to see some of the best new car deals with zero percent interest this June.
There's another simple solution to getting a great deal on a new car, truck, or SUV: With the U.S. News Best Price Program, you can search for the new vehicle of your dreams and find the lowest price available in your area.
2016 Chevrolet Silverado
Deal: 0% APR for up to five years and cash back on select models (Details below)
If you are looking for a full-size pickup truck with plenty of power, Chevrolet deals this month include zero percent financing on select vehicles. Trucks eligible for this purchase deal include the 2016 Chevy Silverado 1500, 2016 Chevy Silverado 2500HD, and 2016 Chevy Silverado 3500HD.
The best Chevrolet truck deal this month is for the 2016 Chevrolet Silverado 1500 Crew Cab ($35,545). In addition to zero percent financing, Chevy is offering $2,000 purchase bonus cash. If you prefer a Silverado 1500 with a regular or double cab – which start at $27,095 and $31,120, respectively – Chevrolet's purchase deal includes $1,000 bonus cash. You can also tap into the top truck savings in your area by using the U.S. News Best Price Program.
2016 Hyundai Elantra GT
Deal: 0% APR for up to five years PLUS $1,000 bonus cash (Details below)
This month, the 2016 Hyundai Elantra GT has a purchase deal that includes zero percent financing for to five years, plus an additional $1,000 in bonus cash. The Elantra GT is the hatchback version of this four-door car, with a starting price of $18,800.
Hyundai refreshed the Elantra GT for the 2016 model year, adding new styling, optional ventilated front seats, and more technology options.
2016 Hyundai Sonata
Deal: 0% APR for up to five years PLUS up to $2,250 bonus cash (Details below)
Hyundai is also offering zero percent financing for the 2016 Hyundai Sonata ($21,750), and has boosted the cash bonus as high as $2,250. By combining the bonus cash and the interest rate special, this offer can save you about $4,000 over the course of your loan.
The Sonata, which is currently ranked as the No. 1 midsize car, comes with standard features such as a 7-inch touch-screen display and Android Auto. It offers one of the largest trunks in its class, as well as an excellent projected reliability rating.
2016 Ford F-150
Deal: 0% APR for three to five years or up to $6,750 in cash back (Details below)
The country's best-selling full-size pickup truck also has a zero percent interest offer. This month, Ford deals include an offer on the 2016 Ford F-150 of zero percent interest, available with a three-year, four-year, or five-year loan.
In addition, Ford has a number of purchase deals that combine interest rates as low as 0.9 percent with up to $2,500 in bonus cash, as well as separate bonus cash offers. One of the best Ford deals is a cash back offer of up to $6,750 for a 2016 Ford F-150 XLT (only with a SuperCab or SuperCrew configuration). If this midgrade model appeals to you, then by picking the cash bonus over the zero percent APR, you'll save about $4,000 over the course of a five-year loan.
2016 Buick Enclave
Deal: 0% APR for five years PLUS up to $3,000 purchase bonus cash (Details below)
This month, you can get an excellent deal on one of the top-rated large SUVs currently on the market. June Buick deals include zero percent financing for the 2016 Enclave, with an added $750 to $3,000 purchase bonus cash (depending on the model you pick).
The highest cash bonus of $3,000 is available on the Enclave's top-level Premium Group with the Enclave Tuscan Edition package. Pricing for this model starts around $50,000 and includes a 10-speaker Bose sound system, leather seats, and active safety technology. You can also use our Best Price Program to find the lowest prices on the Buick Enclave, or any other large SUV, in your area.
2016 Nissan Maxima
Deal: 0% APR for five years (Details below)
Nissan deals this month include zero percent interest on a five-year loan for the 2016 Nissan Maxima. This is one of the safest large cars available, with a Top Safety Pick+ designation from the Insurance Institute for Highway Safety and five-star overall rating from the National Highway Traffic Safety Administration.
Not every Nissan is available with zero percent financing this month, but many are, including the 2016 Altima, 2016 Sentra, 2016 Quest minivan, and the 2016 Rogue. You can also find the best local price for a Nissan by using the U.S. News Best Price Program.
2016 Ford Fusion
Deal: 0% APR for five years PLUS $2,000 bonus cash (Details below)
Shoppers looking for a new midsize car will want to take note of Ford deals. This month, the 2016 Ford Fusion has a combo offer of zero percent interest for five years with up to $2,000 in bonus cash.
Other deals for the Fusion include a cash back offer of up to $3,450, as well as 2.9 percent financing for seven years combined with $1,000 cash back. You'll save the most money, however, if you stick with the zero percent financing. This June, Ford is also offering zero percent interest rates for the 2016 Ford Flex, 2016 Ford Taurus, and 2016 Ford Escape. Take a look at more Ford deals and save extra money by using the U.S. News Best Price Program.
2016 Toyota Tundra Special Edition
Deal: 0% APR for five years PLUS $1,500 bonus (Details below)
Over the last few months, Toyota deals on the 2016 Toyota Tundra have included either low interest rates or separate cash back offers. But in June, Toyota is combining an offer of zero percent interest for five years with a $1,500 cash bonus for its full-size Tundra pickup.
This purchase deal applies to the 1794 Edition, a Western-themed Tundra named for a historic ranch that is now home to the pickup truck's San Antonio factory. Highlights of this premium-grade model include leather seats and accents in saddle brown, a 12-speaker JBL sound system with accompanying touch-screen display, and added active safety systems. Retail price starts at $46,530.
2016 Cadillac XTS
Deal: 0% APR for five years PLUS $3,500 bonus (Details below)
If you're in the market for a luxury large car, right now you can buy a 2016 Cadillac XTS with zero percent financing for five years. This Cadillac deal also includes $3,500 in purchase bonus cash, which lowers the retail price of a 2016 XTS to $41,795.
This is one of the best financing offers this month. While it offers the highest level of savings from Cadillac for June, the luxury brand is also offering excellent purchase deals on a few other models. Both the 2016 Cadillac CTS and the 2016 Cadillac ATS, for example, have offers this month of zero percent financing for five years, plus $2,500 bonus cash. You can check out more Cadillac deals, which are updated every month, and see competing Mercedes-Benz deals and Acura deals.
Before you buy your next car, make sure you don't pay too much for your car by committing one of these 10 mistakes. Peruse the top new car deals and lease deals first, and use the Best Price Program to locate the lowest price in your area. For more tips to help you navigate your new car purchase, be sure to follow us on Twitter.