Longer terms, no-interest financing pop up in Black Friday promos | Auto Finance News | Auto Finance News

Longer terms, no-interest financing pop up in Black Friday promos

Courtesy of Maurice M. Salter

OEMs are pushing loan terms in excess of 60 months and 0% financing in this year’s Black Friday incentives, according to data compiled by Kelley Blue Book.

Hyundai, for one, will offer 0% financing for 72-month loans on 2020 models, and Kia will offer a 0% APR for 66-month terms. Mitsubishi is tacking on an offer of no payments for 90 days to its 0% financing promo, which applies to 2019 Outlander and Eclipse models for loans as long as 72 months. Even Maserati is offering no-interest financing for up to 72 months on 2019 models, but consumers will have to put down almost $6,000 at signing.

Meanwhile, General Motors is pushing Black Friday incentives “hard this year” across its other brands, according to KBB. Buick dealerships are offering 0% financing through GM Financial on contracts up to 72 months and include up to 22% off the MSRP. Chevrolet customers who obtain financing through GMF may qualify for 0% APR on the Bolt, Tahoe, Colorado, Suburban and ten other 2018 and 2019 vehicle models. GMC also has up to 18% off MSRP, but does not include reduced financing rates, according to KBB.

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