The zero-percent auto loan is making a comeback, though it’s probably going to last only as long as the holidays.
General Motors Co., Ford Motor Co. and Nissan Motor Co. are offering no-interest loans this month for as many as six years on some of their most popular vehicles, including Chevrolet Silverado and Ford F-150 pickups and the Nissan Rogue SUV. Black Friday and year-end bargains may help keep sales from slipping and clear out 2018 model-year inventory.
The zero-percent deals are surprising since it’s become more expensive to offer cut-rating financing as the Federal Reserve has raised interest rates. The share of U.S. vehicle sales financed with zero-percent loans shrank to just 3.8 percent in October, the lowest in more than 11 years, according to market researcher Edmunds.