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Best 0% APR Financing Deals For November 2020

Best 0% APR Car Deals

Best 0% APR Car DealsMany manufacturers are offering zero percent APR car deals this month on 2020 and 2021 models for well qualified buyers.

In addition to financing deals, most specials come with a bonus cash credit of up to $5,000. By paying no interest, drivers can save money on many of today's popular models from manufacturers like Ford, Toyota, and Chevrolet.

The 0% APR deal term lengths range from 24-72 months, but a majority are for 60 months.

Best 0% APR Financing Deals Right Now

Here's our picks for the best APR deals for the month of November. Some include bonus cash offers as well.

See the full list of all 0% APR vehicle purchase deals across all car brands below.

What Does 0% APR Mean When Buying a Car?

What does a 0% APR offer mean?

When you get a car loan from a dealership or lender, they make their money by charging you interest and loan fees.  These fees are factored into your monthly payment and spread out across the life of the loan.

The annual percentage rate (APR) is the percent of all your payments over a year that go towards interest and fees.  The higher the APR, the higher your monthly payment.

If a dealership offers a promotional 0% APR loan, they are waiving their loan fees and interest as an incentive to get you to buy a car. 100% of every payment you make will be applied to your loan principal.

Is 0% a good deal? (What’s the catch?)

Is 0% APR a good deal?0% APR car loans are offered as an promotion to get you in the door.  Sometimes these offers are a bait and switch and only apply to specific models and option packages that may be in limited stock.

Or, sometimes zero or low APR offers are actually good deals.  But dealerships will usually try to make money on the sale in other ways, like a higher car price, or add-ons like gap insurance or extended warranties. And sometimes the catch is that the low APR may only apply up to a certain amount requiring you to make a bigger down payment else pay a higher APR for anything above the limit.

And be sure to read the fine print as almost all zero APR offers require you to be a well qualified buyer with excellent credit.

What credit score do you need to get 0% financing?

What credit score do you need to get 0% financing?Lenders rarely advertise the minimum credit score to be eligible for 0% financing.  However, you'll typically need at least a 700 credit score and a score above 720 will give you a better chance of being approved.
Interest Free Car Deals (Who has 0% financing right now?)

All 0% Finance Deals for November 2020

Below is a list of all the current 0% APR deals offered by each manufacturer right now.

YearMakeModelBest Avail. APRLengthCash BonusExpiration
2020BMWi30.00%60 months$7,500 11/30/2020
2020BuickEnclave0.00%84 months11/30/2020
2020BuickEncore0.00%84 months11/30/2020
2020BuickEncore GX0.00%84 months11/30/2020
2020BuickEnvision0.00%84 months11/30/2020
2020GMCAcadia0.00%84 months11/30/2020
2020GMCCanyon0.00%84 months11/30/2020
2020GMCTerrain0.00%84 months11/30/2020
2020GMCYukon0.00%72 months11/30/2020
2020GMCYukon XL0.00%72 months11/30/2020
2020CadillacCT40.00%72 months$2,500 11/30/2020
2020CadillacCT50.00%72 months$2,500 11/30/2020
2020CadillacXT40.00%72 months$2,500 11/30/2020
2020CadillacXT50.00%72 months$2,500 11/30/2020
2020CadillacXT60.00%72 months$2,500 11/30/2020
2020DodgeDurango0.00%72 months11/30/2020
2020FordEscape0.00%60 months1/4/2021
2020FordEdge0.00%60 months1/4/2021
2020FordExpedition0.00%60 months1/4/2021
2020FordExplorer0.00%60 months1/4/2021
2020FordFusion0.00%60 months1/4/2021




YearMakeModelBest Avail. APRLengthCash BonusExpiration
2020HyundaiAccent0.00%48 months$5001/4/2021
2021HyundaiAccent0.00%48 months1/4/2021
2020HyundaiElantra0.00%60 months1/4/2021
2020HyundaiElantra GT0.00%60 months$5001/4/2021
2020HyundaiIoniq Hybrid0.00%60 months$5001/4/2021
2020HyundaiKona0.00%60 months1/4/2021
2021HyundaiKona0.00%60 months1/4/2021
2020HyundaiPalisade0.00%48 months1/4/2021
2020HyundaiSanta Fe0.00%72 months$5001/4/2021
2020HyundaiSonata0.00%72 months$5001/4/2021
2021HyundaiSonata0.00%72 months1/4/2021
2020HyundaiSonata Hybrid0.00%72 months1/4/2021
2021HyundaiSonata Hybrid0.00%60 months1/4/2021
2019HyundaiSonata Plug-in Hybrid0.00%72 months$1,000 1/4/2021
2020HyundaiTucson0.00%72 months$5001/4/2021
2021HyundaiTucson0.00%72 months1/4/2021
2020HyundaiVeloster0.00%48 months1/4/2021
2020HyundaiVenue0.00%60 months1/4/2021
2020InfinitiQ500.00%72 months1/4/2021
2021InfinitiQ500.00%60 months1/4/2021
2020InfinitiQ600.00%72 months1/4/2021
2021InfinitiQ600.00%60 months1/4/2021
2020InfinitiQX500.00%72 months1/4/2021
2021InfinitiQX500.00%60 months1/4/2021
2020InfinitiQX600.00%72 months1/4/2021
2020InfinitiQX800.00%72 months1/4/2021
2021InfinitiQX800.00%60 months1/4/2021
2020JaguarXE0.00%24-72 months11/30/2020
2020JaguarXF0.00%24-60 months11/30/2020
2020JaguarE-Pace0.00%24-72 months11/30/2020
2020JaguarF-Pace0.00%24-72 months11/30/2020
2021JaguarF-Type0.00%24-72 months11/30/2020
2020JaguarI-Pace0.00%24-72 months11/30/2020
2020KiaCadenza0.00%75 months11/30/2020
2020KiaForte0.00%66 months11/30/2020
2021KiaForte0.00%60 months11/30/2020
2020KiaNiro0.00%66 months11/30/2020
2020KiaNiro Plug-In Hybrid0.00%66 months11/30/2020
2020KiaRio0.00%66 months11/30/2020
2020KiaRio 5-Door0.00%66 months11/30/2020
2021KiaSedona0.00%66 months11/30/2020
2020KiaSorento0.00%75 months11/30/2020
2020KiaSoul0.00%75 months11/30/2020
2021KiaSoul0.00%66 months11/30/2020
2020KiaSportage0.00%75 months11/30/2020
2021KiaSportage0.00%66 months11/30/2020
2020KiaStinger0.00%75 months11/30/2020
2021KiaStinger0.00%66 months11/30/2020
2020KiaK9000.00%75 months11/30/2020
2020Land RoverVelar0.00%24-72 months11/30/2020
2020Land RoverEvoque0.00%24-60 months11/30/2020
2020Land RoverDiscovery Sport0.00%24-72 months11/30/2020
2020Land RoverRange Rover Sport0.00%24-60 months11/30/2020
2020Land RoverRange Rover0.00%24-60 months11/30/2020
2020LexusES0.00%60 months$1,000 11/30/2020
2021LexusES0.00%60 months11/30/2020
2020LexusES Hybrid0.00%60 months$1,000 11/30/2020
2021LexusES Hybrid0.00%60 months11/30/2020
2020LexusGS0.00%60 months11/30/2020
2020LexusGX0.00%60 months11/30/2020
2021LexusGX0.00%60 months11/30/2020
2020LexusGS F0.00%60 months11/30/2020
2020LexusIS0.00%60 months$1,000 11/30/2020
2021LexusIS0.00%60 months11/30/2020
2020LexusLC0.00%60 months11/30/2020
2020LexusLC Hybrid0.00%60 months11/30/2020
2021LexusLC Hybrid0.00%60 months11/30/2020
2020LexusLS0.00%60 months$1,000 11/30/2020
2020LexusLS Hybrid0.00%60 months$1,000 11/30/2020
2020LexusLX0.00%60 months11/30/2020
2021LexusLX0.00%60 months11/30/2020
2020LexusUX0.00%60 months11/30/2020
2021LexusUX0.00%60 months11/30/2020
2020LexusUX Hybrid0.00%60 months11/30/2020
2021LexusUX Hybrid0.00%60 months11/30/2020
2020LexusNX0.00%60 months11/30/2020
2021LexusNX0.00%60 months11/30/2020
2020LexusNX Hybrid0.00%60 months11/30/2020
2021LexusNX Hybrid0.00%60 months11/30/2020
2020LexusRC0.00%60 months11/30/2020
2021LexusRC0.00%60 months11/30/2020
2020LexusRC F0.00%60 months11/30/2020
2021LexusRC F0.00%60 months11/30/2020
2020LexusRX0.00%60 months11/30/2020
2021LexusRX0.00%60 months11/30/2020
2020LexusRX Hybrid0.00%60 months11/30/2020
2021LexusRX Hybrid0.00%60 months11/30/2020
2020LincolnMKZ0.00%72 months1/4/2021
2020LincolnMKZ Hybrid Reserve0.00%72 months1/4/2021
2020LincolnContinental0.00%72 months1/4/2021
2020MazdaCX-30.00%60 months11/30/2020
2020MazdaCX-50.00%60 months11/30/2020
2020MazdaCX-300.00%60 months$50011/30/2020
2020Mazda3 Sedan0.00%60 months$50011/30/2020
2020Mazda3 Hatchback0.00%60 months$50011/30/2020
2020Mazda60.00%60 months$50011/30/2020
2020MazdaMX-5 Miata RF0.00%60 months11/30/2020
2020MazdaMX-5 Miata0.00%60 months11/30/2020
2020MitsubishiEclipse Cross0.00%60 months$75011/30/2020
2019MitsubishiOutlander Phev0.00%72 months$2,000 11/30/2020
2020MitsubishiOutlander Phev0.00%60 months$1,000 11/30/2020
2020MitsubishiOutlander0.00%60 months$1,000 11/30/2020
2020MitsubishiOutlander Sport0.00%60 months$75011/30/2020
2021MitsubishiOutlander Sport0.00%48 months$25011/30/2020
2020MitsubishiMirage0.00%60 months$50011/30/2020
2020MitsubishiMirage G40.00%60 months$50011/30/2020
2021MercedesE-Class0.00%24-36 months11/30/2020
2021MercedesGLA-Class0.00%24-36 months11/30/2020
2021MercedesGLC-Class0.00%24-36 months11/30/2020
2020NissanAltima0.00%72 months$1,500 11/30/2020
2021NissanAltima0.00%60 months$50011/30/2020
2020NissanFrontier0.00%72 months11/30/2020
2020NissanKicks0.00%72 months$50011/30/2020
2020NissanLeaf0.00%72 months$2,000 11/30/2020
2020NissanMaxima0.00%36 months$3,000 11/30/2020
2020NissanMurano0.00%72 months$3,500 11/30/2020
2020NissanPathfinder0.00%72 months$2,250 11/30/2020
2020NissanRogue0.00%60 months$1,500 11/30/2020
2020NissanRogue Sport0.00%60 months$1,000 11/30/2020
2020NissanSentra0.00%36 months$50011/30/2020
2020NissanTitan0.00%84 months$2,000 11/30/2020
2021NissanTitan0.00%72 months$1,000 11/30/2020
2020NissanTitan XD0.00%84 months$2,000 11/30/2020
2021NissanTitan XD0.00%72 months$1,000 11/30/2020
2020NissanVersa0.00%36 months11/30/2020
2020SubaruAscent0.00%63 months11/30/2020
2021SubaruAscent0.00%63 months11/30/2020
2020SubaruForester0.00%63 months11/30/2020
2020SubaruImpreza0.00%63 months11/30/2020
2020SubaruLegacy0.00%63 months11/30/2020
2020SubaruOutback0.00%63 months11/30/2020
2020ToyotaAvalon0.00%60 months11/30/2020
2020ToyotaAvalon Hybrid0.00%60 months11/30/2020
2020ToyotaCamry0.00%60 months11/30/2020
2020ToyotaCamry Hybrid0.00%60 months11/30/2020
2021ToyotaCorolla0.00%60 months11/30/2020
2021ToyotaCorolla Hybrid0.00%60 months11/30/2020
2021ToyotaCorolla Hatchback0.00%60 months11/30/2020
2020ToyotaPrius0.00%60 months11/30/2020
2020ToyotaRAV40.00%60 months11/30/2020
2020ToyotaGR Supra0.00%60 months11/30/2020
2021VolvoXC900.00%60 months11/30/2020
2021VolvoXC600.00%60 months11/30/2020
2021VolvoXC400.00%60 months11/30/2020
2021VolvoS900.00%60 months11/30/2020
2021VolvoS600.00%60 months11/30/2020
2021VolvoV90 Cross Country0.00%60 months11/30/2020
2021VolvoV900.00%60 months11/30/2020
2021VolvoV600.00%60 months11/30/2020
2021VolvoV60 Cross Country0.00%60 months11/30/2020

These offers may vary based on location, credit score, and financing terms and are not guaranteed.  So use my free service to Check Discount Car Prices to get the best prices that include current manufacturer offers and incentives.

Frequently Asked Questions

What car dealers are offering zero percent financing?

Buick, Chevy, Hyundai, Nissan, and more.

Is there a catch to 0% APR car deals?

Sometimes APR deals are tied to buying a car at a non-negotiable price or have a short loan term like 24 or 36 months.  But if you look closely, sometimes you can find good deals without a catch.

Is a 72 month car loan bad?

72 and 84 month loans are worse than shorter loans.  The longer the loan term, the more you’ll end up paying in interest over the life of the loan.  However, if you have 0% APR, a longer loan can be good because you’re not paying any interest at all.

What does 0 APR for 60 months mean?

Zero APR means you pay 0% interest on your car loan.  60 months is the duration of the loan (and the total number of monthly payments).

Is it better to finance a car through a bank or the dealership?

You can get a loan through dealer financing or through your bank or credit union.  Go with whoever offers you the best lending terms unless getting a loan is tied to a discount on the price of a car.

Does 0% APR hurt your credit?

No, it’s just the interest rate on an auto loan and doesn’t have anything to do with your credit.

Best Lease Deals With No Money Down [November Edition]

best lease deals with zero down

best lease deals with zero downOne advantage of leasing a vehicle is that it generally requires a lower initial investment compared to buying. You can save even more by taking advantage of a zero down payment deal.

Also, by paying a low or no down payment, you lose nothing if the leased vehicle is stolen or totaled in the first few months.

Below we share our picks for the best lease offers with no upfront payment.

Read: How do zero down leases work?

Best Lease Deals With Zero Down Payment (or Low Payment)

Here's our picks for the best zero down lease deals this month. We also included a few lease offers with very low down payments as well. Most of these specials are available until the end of the month.

YearMakeModelLease OffersExpiration
2020VolkswagenJetta$239/month for 39 months, $0 due at signing11/30/2020
2020VolkswagenPassat$279/month for 39 months, $0 due at signing11/30/2020
2021VolkswagenAtlas$389/month for 39 months, $0 due at signing11/30/2020
2020NissanLeaf$199/month for 36 months, $199 due at signing11/30/2020
2020NissanArmada$690/month for 36 months, $690 due at signing11/30/2020

Cheapest Car to Lease No Money Down

A few zero down deals happen to be on some of the most affordable cars on the market. This combination means a low upfront cost and low monthly payments. Check out our pick for the cheapest car to lease with no money down.

Volkswagen Passat

Top Pick: 2020 Volkswagen Passat
Lease Deal: $279/month for 39 months, $0 due at signing

Check VW Passat Prices

What Other Manufacturers Offer a Zero Down Lease?

Even if a manufacturer does not have any advertised zero down-payment deals, almost all of them are willing to forgo a down payment if you have good credit.  Check out my guide to learn how to negotiate a lease to not pay anything up front.

Zero Down Lease Guide

Frequently Asked Questions

Are there any car leases with no money down?

Yes, manufacturers are offering a variety of zero down lease deals right now. And sometimes you can negotiate zero down for other models if you have good credit.

Who is offering leases with zero down payment?

Many popular manufacturers like Honda, Hyundai, and Nissan periodically offer lease deals with no down payment required. Manufacturers consistently release deals each month that have zero or very low due at signing amounts.

How do I lease a car for zero down?

Lease terms are typically negotiable so you can sometimes ask a car dealer to transfer your down payment into higher monthly payments.  Learn more about how to negotiate a lease.

Should I put a down payment on a lease?

One of the main advantages of leasing is the low up-front costs, but keep in mind that a zero down lease will raise your monthly payment since you are not pre-paying some of the lease obligation.

What is 'due at signing' on a lease?

The due at signing amount typically consists of the first month’s payment, security deposit, acquisition fee, and any state taxes. It’s important to read the details before leasing, even with advertised $0 down there may be applicable taxes and fees. Learn how zero down leases work.

What credit score do I need to lease a car?

With some exceptions, the typical minimum credit score to lease a car is 620. However, unless your credit score is over 680, you will not qualify for the best lease deals.

When is the best month to buy a car?

Best Month to Buy a Car

If you have the flexibility, you can find extra savings buying a car at the right time. It’s always a good idea to get prices from several car dealers, but if you time your purchase you can get even bigger savings.

Some months are actually better than others for getting a deal. Here are some factors throughout the year to put in your calendar.

The best month to buy a car is December, with especially good deals during the week between Christmas and New Years.  Dealerships are empty and salesmen need to hit their monthly, quarterly, and year end sales goals.

Months with Holiday Weekends mean dealership events

Holiday Weekends and Dealership EventsSix months of the year have holiday weekends like 4th of July and Labor Day. Dealerships know customers have an extra day off on these weekends to go shopping so they create promotions to entice visitors including cash-back deals or special financing.

Many dealerships also have weekend incentives for the salesmen who are able to sell the most vehicles.  This sometimes means they are willing to offer bigger discounts to you in order to reach their company bonus.

On most holidays, dealerships will be open and hungry for car shoppers with the exception of Thanksgiving and Christmas. But in the days following both of those two holidays dealerships typically run big specials that make up for lost time .

September and October have End of Model Year deals

Endof Model Year Car DealsIn September and October, many manufacturers are trying to get their old models off the lot to make room for next year’s models. Car buyers always want the latest model, especially if there are significant changes like a new body style, so dealers are under pressure to sell off old models.

Related: Infographic of the best time to buy a car

Wait till salesman get their quotas

Car Sales Goals Equal Big BonusesMost people are aware that waiting until the end of the month to buy a car is a good strategy because salesmen have monthly sales quota to meet. But did you know that salesmen also have quotas at the end of each quarter as well?

Timing your purchase until the end of March, June, September, and December could mean you catch dealers when they are eager to sell in order to earn a bonus check.

December has End of Year discounts

End of Year Car DealsCar salesman and dealerships also get sales incentives at the end of the financial year. Couple that with the holiday week between Christmas and New Years and you get one of the best weeks of the whole entire year to buy.

Also Read: When is the best time to lease a car?

When is the worst month to buy a car?

Worst Month to Buy a CarThe Spring is the worst time to buy a car for a few reasons.

Warmer weather means people finally get outdoors to do the car shopping they’ve been putting off during the winter.  And in April, some people see tax refunds as a financial windfall that could be spent on big purchases like a new car.  There are also no holiday weekends to drive dealership traffic (except Easter which is not known for car sales).

More car buyers means salesmen don’t need to offer as many deals to entice visits. So March and April are the worst months for deals.

Breakdown of Best Deals by Month

MonthMonth Savings RankKey Dates
JanuaryAverage
FebruaryGoodPresident's Day Weekend
MarchPoorEnd of quarter
AprilPoor
MayBestMemorial Day Weekend
JuneAverageEnd of quarter
JulyGoodFourth of July Weekend
AugustAverage
SeptemberBestLabor Day Weekend + End of quarter
OctoberGoodModel Year End Closeout
NovemberGoodBlack Friday + Cyber Monday
DecemberBestHoliday Week + End of Quarter + End of Year

Cheapest Lease Deals For November 2020

cheapest lease deals

cheapest lease dealsOne of the benefits of leasing compared to buying a new car is the low up-front cost. New lease specials are published each month, and you can save even more by focusing on some of the cheapest lease deals available right now.

We take into account the monthly payment and the amount due at signing in order to pick our favorite cheap lease deals. There are plenty of offers from popular car manufacturers that advertise low monthly payments, but the "due at signing" amount is usually higher.

When the down payment on the vehicle is higher, the monthly payment amount usually gets smaller. So our picks for the cheapest lease deals are all affordable options that balance the total cost of the new vehicle.

Cheapest Lease Deals Right Now

To get the most bang-for-your-buck, check out our top picks for the most cost-effective cars to lease right now.

YearMakeModelLease OffersExpiration
2021ToyotaCorolla$169/month for 36 months, $2,999 due at signing11/30/2020
2020HyundaiAccent$179/month for 36 months, $1,999 due at signing1/4/2021
2020NissanLeaf$199/month for 36 months, $199 due at signing11/30/2020
2021SubaruImpreza$219/month for 36 months, $2,019 due at signing11/30/2020
2020VolkswagenJetta$239/month for 39 months, $0 due at signing11/30/2020

Cheapest Car to Lease

So what is the cheapest car to lease? Out of all these inexpensive cars, we selected the 2020 Hyundai Accent

2020 Hyundai Accent

Top Pick: 2020 Hyundai Accent
Lease Deal: $179/month for 36 months, $1,999 due at signing

Check Hyundai Accent Prices

Recommended: Check out our top picks for the cheapest cars to lease with no money down.

Frequently Asked Questions

What is the cheapest car to lease right now?

There are many lease deals on new cars that have a sticker price near or under $20,000. Some of the cheapest and most popular models with lease specials are the 2020 Honda Civic ($20,000) and the 2020 Subaru Impreza ($18,695).

What is the cheapest and most reliable car?

The 2020 Honda Civic ($20,000) and 2020 Hyundai Elantra ($19,300) are a couple of the cheapest and most reliable cars. There are usually great lease deals on many other good-value and reliable cars.

What is the cheapest monthly payment for a new car?

The cheapest monthly payment for a new car can be as low as $120 per month. Some new cars like the Nissan Leaf and Hyundai Elantra have monthly payments just above $100 per month.

What is the cheapest down payment for a new car?

Car manufacturers frequently publish lease deals that advertise no money down. There may be taxes and other fees due at signing, but the cheapest down payment for a new car can be as low as $0.

How can I get a cheap car lease deal?

It’s a good idea to get multiple dealerships to compete in order to find the lowest price available. Before reaching out to dealerships for quotes, check out our top picks for the cheapest lease deals available right now. 

Do I need a good credit score to lease a car?

The credit score needed to lease a new vehicle may vary, but you generally need a pretty solid credit score to qualify for low monthly payment or no down payment lease specials. A score between 650 and 720 is recommended for most dealerships.

Best Lease Deals For November 2020

Best Lease Deals

Best Lease DealsMany manufacturers are offering low monthly lease deals this month on 2019 and 2020 models for well qualified buyers.

In addition to offers with low monthly payments, there are a few deals with no or low down payments. By paying a lower amount at signing, drivers can save money on many of today's popular models from manufacturers like Ford, Toyota, and Chevrolet.

Below we break down lease offers by category and highlight some of the best lease deals right now.

Best Lease Deals Right Now

Here's our picks for the best lease deals for the month of November.

YearMakeModelLease OffersExpiration
2021ToyotaCorolla Hybrid$169/month for 36 months, $2,999 due at signing11/30/2020
2021Mazda3 Sedan$189/month for 36 months, $2,499 due at signing11/30/2020
2020NissanLeaf$199/month for 36 months, $199 due at signing11/30/2020
2021SubaruImpreza$219/month for 36 months, $2,019 due at signing11/30/2020
2020VolkswagenJetta$239/month for 39 months, $0 due at signing11/30/2020
2021NissanRogue$249/month for 36 months, $3,799 due at signing11/30/2020
2021ToyotaTundra$319/month for 39 months, $2,999 due at signing11/30/2020
2021LexusES$339/month for 36 months, $3,999 due at signing11/30/2020
2021AcuraTLX$399/month for 36 months, $3,999 due at signing1/4/2021
2021BMWX2$409/month for 36 months, $3,999 due at signing11/30/2020

Best Lease Deals (Video)

Frequently Asked Questions

Can you lease without a down payment?

Yes, some car brands advertise zero down leases.  Here’s the full list of zero down offers right now.

Even if it’s not advertised, some dealers make the down payment optional if you meet their credit requirements.  Keep in mind that a zero down lease will raise your monthly payment since you are not pre-paying some of the lease obligation.

Is it cheaper to buy or lease a car?

Monthly payments are cheaper when leasing a car.  But if you buy and keep a car after it’s paid off, it’s cheaper in the long run. Here are some of the cheapest lease offers with monthly payments under $200.

Does leasing a car build credit?

Yes, leasing a car builds credits in the same way that buying a car does.  You just need to show a history of paying in full and on time.

What credit score do I need to lease a car?

With some exceptions, the typical minimum credit score to lease a car is 620. However, unless your credit score is over 680, you will not qualify for the best lease deals.

What is capitalized cost in a car lease?

Capitalized cost is the total amount being financed with a lease.  This is the price of the vehicle and all associated fees, minus whatever you pay in cash for your down payment and your trade-in.

What is the money factor in a car lease?

The money factor is the financing rate on a lease, similar to interest paid on a loan, but expressed a little differently.  The lower the money factor, the less your monthly payment will be.

Is it better to buy or lease a car?

Leasing a car does result in lower monthly car payments.  But for most car buyers, it makes more financial sense to buy a car outright than to lease.  The exceptions are if you are deducting the car as a business expense or you want to replace your car every 2-3 years.  Learn more about the reasons to buy or lease a car.

Why do dealers want you to lease?

Dealers love to offer leases because they will make more profit than a typical car sale.  And consumers are less likely to negotiate a lease due to seemingly low payments and confusing financial terms like money factor and capitalized cost.

Coronavirus Car Payment Assistance Programs

Coronavirus car discounts and financing

Almost all major car manufacturers are offering payment relief programs during the COVID-19 pandemic. They are offered in the form of deferred payments on new vehicles, payment extensions, and lease extensions. Many will also waive any late fees for an extended period of time. (these are discounts for everyone, not to mention those discounts for first responders)

COVID-19 Assistance Overview

Manufacturers like Chevrolet, Buick, and GMC are offering special incentives as well, with 0% APR for up to 84 months available to very well qualified buyers. There are still new cash back, finance, and lease deals introduced at the beginning of each month.

If your local and state government have deemed transportation as an essential need, most dealer service operations for repair and maintenance should be open.

Tip: To truly get a good deal, you’ll want to get prices from several dealerships. (click the orange button above and Get Prices).

Below we will give an overview of each car manufacturer’s Coronavirus payment relief program, available to new and current customers.

 

Acura COVID-19 Hardship Help

Current Customers: The Hardship Help program for current Acura Financial Services account holders can get payment extensions, deferrals, and late fee waivers.

acura cash back icon

Prospective Customers: A 90-day deferred payment program is available to new and used car buyers. A Loyalty Purchase Assistance Cash deal of $500 is available on any new Acura model. There are also special APRs on pre-owned TLX and RDX models. Acura is currently offering first responders and healthcare professionals up to $750 off a purchase or lease on any 2020 or newer model.

Audi COVID-19 Assistance

Current Customers: Audi‘s Financial Services are open and accessible to customers that need financial assistance.

BMW Coronavirus Response

Current Customers: BMW‘s Customer and Financial Services are available to customers that need assistance due to the COVID-19 pandemic.

GM (Buick, Cadillac, Chevrolet, GMC) Coronavirus Response

Current Customers: GM Financial customers (Buick, Cadillac, Chevrolet, and GMC) that are affected by COVID-19 are encouraged to message through the mobile app or contact 1-800-284-2271 for assistance. Current owners have OnStar Crisis Assist services for a limited time and complimentary in-vehicle data for Wi-Fi equipped vehicles; 3GB or three months, whichever comes first. GM is offering customers the ability to shop online and take delivery at home from a participating dealership.

0 APR For 84 Months

Buick Prospective Customers: Buick is offering new buyers 0% APR for 84 months on the 2020 Encore and Envision. There is also an option to defer monthly payments for 120 days.

Chevrolet Prospective Customers: Chevrolet is offering 0% APR for 84 months on 2019 and 2020 Equinox, Silverado 1500, and Trax models. Customers can also defer monthly payments for 120 days on most Chevy models.

GMC Prospective Customers: GMC is currently offering new buyers 0% APR for 84  months on 2020 Sierra 1500, Acadia, and Terrain models. Customers can also defer monthly payments for 120 days.

Fiat-Chrysler (Chrysler, Dodge, Jeep) COVID-19 Response

Current Customers: There are flexible payment options and payment extensions available to current Chrysler, Dodge, and Jeep customers on a case-by-case basis.

Prospective Customers: There may be options to defer payments for 90 days on select 2019/2020 models if financed through Chrysler Capital.

Ford Motor Company (Ford, Lincoln) COVID-19 Assistance Program

Current Customers: Ford and Lincoln customers are encouraged to call Ford Credit to discuss options if they are going through financial hardship. The special hotline number is 1-800-723-401690 day deferred payment

Prospective Customers: Ford is also giving customers the option to delay the first payment on a new vehicle for 90 days. They are also offering six months of payment relief for select new-car customers. Ford will pay for three months and then the customer can defer monthly payments for up to three more months. This deal excludes 2020 Super Duty trucks, but is available on the rest of the 2019 and 2020 lineup.

Ford Promise Vehicle Return Program

The Ford Promise program allows customers to return a vehicle within one year of purchase if they experience financial hardship due to involuntary loss of employment. The Ford vehicle buy-back program will cover:

  • 2019/2020/2021 new, used, or CPO vehicles that have been leased or purchased through Ford Motor Credit between June 26th, 2020 and September 30th, 2020.
  • Up to $15,000 waived/paid with the customer responsible for the remaining balance

To qualify, customers must have been approved for state unemployment benefits and must notify the Claims Administrator within thirty days of involuntary job loss. Customers experiencing self-employed personal bankruptcy are also eligible for Ford Promise.

Ford is offering 0% APR for 72 months on select 2019/2020 models. Here is a full list of Ford incentives and more details on Ford Promise.

Honda COVID-19 Hardship Help

Current Customers: Payment extensions, deferrals, and late fee waivers are available through Honda’s Hardship Help program.

Prospective Customers: New customers can defer payments for 90 days and also get $1,000 in cash back towards the purchase or lease of select new models. There are special APRs on pre-owned Civic, Accord, and CR-V models. Honda is now offering up to $500 off a purchase or lease of a new vehicle to healthcare professionals.

Hyundai Coronavirus Relief Program

Current Customers: Current Hyundai customer can defer payments for up to three months if they lose their job or face medically-related hardships before December 31st, 2020. The Hyundai Assurance Job Loss Protection program will waive up to six months of payments for new owners who have lost their job that purchased or leased a vehicle before December 31st, 2020. Hyundai will also extend any qualifying warranty that ends between March and June 2020 until June 30th, 2020.

6 month payment relief

Prospective Customers: There is special 0% APR financing available on select new models, and customers have the option to delay payments for 120 days.

Infiniti COVID-19 Response Program

Current Customers: Infiniti customers that are going through financial hardship are encouraged to call or email Infiniti Financial Services to discuss payment alternatives.

Prospective Customers: Infiniti is now offering no payments for up to 90 days on a purchase or lease on any 2020 model. New customers can get 0% APR financing for 72 months on all 2020 models.

Jaguar COVID-19 Response

Current Customers: Returning Jaguar lessees can get their first two payments of up to $750 waived if financed through Jaguar Financial Group. Jaguar is also offering its lessees the option to extend their lease agreement for up to 6 months.

Prospective Customers: The Jaguar Deferment Program allows eligible customers to defer their payments for up to 90 days. This can be applied to all new 2020 models.

Kia Coronavirus Response Program

Current Customers: Kia customers (financed or leased before March 14th) that are providing care for themselves or a member of their household and are unable to work can request a 30-day payment extension up to three times. Kia is also extending its warranty program until June 30th, 2020 for anyone that couldn’t make it to a Kia dealer between March 2020 and May 2020 due to COVID-19.

120 days deferred payment

Prospective Customers: New buyers can defer payments for 120 days and get 0% APR financing for 72 months.

Land Rover COVID-19 Response

Current Customers: Returning Land Rover lessees can get their first two payments of up to $750 waived if financed through Land Rover Financial Group. Land Rover is also offering its lessees the option to extend their lease agreement for up to 6 months.

Prospective Customers: The Land Rover Payment Deferment Program allows eligible customers to defer their payments for up to 90 days. This can be applied to all new 2020 models.

Lexus COVID-19 Assistance Program

Current Customers: Lexus customers going through financial hardship due to the global pandemic are encouraged to call Lexus Financial Services at 800-874-7050 to discuss payment relief options.

Mazda COVID-19 Response Program

Current Customers: Mazda is encouraging its customers to contact Mazda Capital Services for any financial relief. Current Mazda owners can get up to $1,500 off when they purchase or lease any new Mazda.

Prospective Customers: New customer can get 0% APR on most models and Mazda is offering a 90-day deferred payment program.

Mercedes-Benz COVID-19 Response

Current Customers: Customers are encouraged to call Mercedes-Benz Financial Services at 800-654-6222 for any financial assistance related to the Coronavirus pandemic.

Mitsubishi COVID-19 Financial Support

Current Customers: Mitsubishi customers who financed through Ally can contact them to defer payments for up to 120 days.

Prospective Customers: New buyers can finance a new vehicle through Ally and defer payments for up to 90 days.

Nissan Coronavirus Assistance Program

Current Customers: Nissan and NMAC Customer Service are available at 1-800-456-6622 to assist customers and discuss payment arrangements.

Prospective Customers: Nissan is offering new customers the option to defer monthly payments for up to 90 days. The manufacturer will also cover payments for up to two additional months.

Subaru 0 APR

Porsche COVID-19 Response

Current Customers: Impacted Porsche customers are encouraged to send a secure message through their PFS Account for financial assistance. Any warranty period that expires between March and May 2020 will be extended for three months.

Subaru COVID-19 Response Program

Current Customers: Current Subaru lessees can extend their lease agreements for up to 6 months.

Prospective Customers: New Subaru customers can get 0% APR for 63 months on 2020 Ascent, Forester, Outback, Legacy, and Impreza models. Buyers also have the option to defer payments for up to 90 days.

Toyota COVID-19 Response Program

extend lease period

Current Customers: Toyota Financial Services is offering payment relief options to customers who are effected by COVID-19. Qualified lease and finance customers can get payment extensions or lease deferred payments. They are also offering assistance to customers who are nearing the end of their lease period.

Prospective Customers: Qualified customers can get 0% APR for 60 months on 2020 models like the Camry, RAV4, and Tacoma. Toyota will also defer payments for up to 90 days. Every new Toyota will come with ToyotaCare, which is a no-cost maintenance plan for 2 years or 25,000 miles.

Volkswagen COVID-19 Response

Current Customers: Volkswagen customers are encouraged to visit the Volkswagen Credit website if they are impacted by COVID-19. Existing customers can defer their payments for up to 90 days without fees.

Prospective Customers: Most new VW models come with 0% APR for 72 months and there is also an option to defer the first month’s payment for 120 days. Eligible customers who lost their job due to economic reasons can get up to 6 months of payments (of up to $750 per month) waived.

Volvo COVID-19 Response

Current Customers: Customers going through financial hardship are encouraged to call Volvo Car Financial Services to discuss payment relief options.



These offers may vary based on location, credit score, and financing terms and are not guaranteed. So use my free service to Check Discount Car Prices to get the best prices that include current manufacturer offers and incentives.

How Zero Down Leases Work [and the Trick to Get One]

Zero Down Lease Guide

Zero Down Lease GuideLeasing a new car requires a far smaller up-front investment than purchasing one. However, most leases still require you to put down money upfront....unless you know what you're doing.

So do zero down leases exist?  Yes, they really do.

The trick is that even leases not advertised as "zero down" can become zero down with some negotiation.

How do these deals work and what’s their real cost?

This guide will breakdown how zero down leases work and how you can negotiate a new car lease to avoid putting money down up front.

How Does a 0 Down Lease Work?

Key Leasing Terms

  • Capitalized Cost: Capitalized cost (or cap cost) is the sales price of a car being leased. It includes the car's negotiated price plus any additional costs that will be financed through the lease.  The lower the cap cost, the lower your monthly payments.
  • Capitalized Cost Reduction: This is similar to a down payment that reduces the vehicle sales price. The cap cost is reduced by any upfront cash you pay at closing plus the value of your trade-in.
  • Lease Term: This is the number of months during which you will have use of the vehicle and will pay an agreed upon monthly payment.
  • Residual Value: The residual value of the car is the amount you would pay the leasing company if you decided to buy the car at the end of the lease.
  • Depreciation: The reduction in a car's value from the beginning to the end of the lease term.  This is calculated as the difference between the cap cost (minus cap cost reduction) and the residual value.
  • Money Factor: This is the rate at which you are borrowing money.  It's the lease equivalent of the annual percentage rate (APR) when buying a car with a loan.

How does a zero down lease workWhen leasing a car, the more you pay upfront, the lower you pay in monthly payments.  The opposite holds true as well.  The less you pay up front, the more you pay in monthly payments.

By opting for a zero down lease, most or all of your upfront payment (cap cost reduction) is rolled into your monthly payments.

Keep in mind that a 0 down lease does not always mean that you can waltz in empty handed and drive off in a new leased car. Even with a no money down lease, you sometimes still have to pay for the sales tax, dealership fees, and the first month’s payment.  More on the types of zero down leases below.

Benefits of a No Money Down Lease

No money down leases are appealing because...Benefits of a zero down lease

  • Less money upfront. Signing a lease with a down payment means that you must fork over cash right off the bat. With a no money down lease, you get to spread the down payment out, so there’s less out-of-pocket cost at the beginning.
  • Sales tax is deferred. Typically, you must pay an upfront sales tax when you lease a car with a down payment. For a no money down lease, you will end up paying the same amount in taxes but spread out over time.
  • Less risk.  If the vehicle is stolen or totaled during the lease period, you will not lose out on the down payment that you made.

Drawbacks of a zero down leaseDrawbacks of a No Money Down Lease

There are also some downsides to zero down leases.

  • Higher monthly payments. Because you are deferring up front cost, your monthly payments will be higher.
  • Higher total cost. You must pay interest on the leased amount, which means you will likely end up paying more in total costs over your entire lease term if you put no money down.

Down Payment and Amount Due at Signing May Differ

Down payment versus due at signingYour down payment is not the only potential cost when you sign your lease agreement. There are also:

  • city/county/state fees
  • license and registration fees
  • the first month’s payment
  • security deposit
  • and in most states when a down payment is made, there is an upfront sales tax required

There are big differences in what you pay upfront, so let's take a closer look.

Types of No Money Down Car Leases

There are four primary types of zero-down leases. These are:

  • $0 due at signing/ sign and drive. These leases will involve no out-of-pocket expenses when you sign the lease. The car dealer will include the cash due amount into the monthly cost of your lease so that you do not pay anything that day.Types of zero down leases
  • No cap cost reduction. This kind of lease eliminates the down payment, but still includes the first month’s payment and fees.
  • No cap cost reduction and no first month’s payment. Most often, you must pay for the first month up front, however, there are some leases that eliminate this requirement. Instead, the dealer will roll your first month’s payment and down payment into the monthly cost, and you will only have to pay fees required by your state at the time of signing.
  • No down payment and dealer pays the first month. In rare cases, the dealer or lessor will cover the first month’s payment. You will not have to make a down payment, and the dealer will waive the first month’s payment so that you only have to pay the official fees.

Is a zero down lease the same as a one-pay lease?

No, a one-pay lease is the opposite of a zero down lease.  Instead you combine all the payments and make them up front in a single payment to save on interest.

How to qualify for a zero down leaseRequirements to Qualify for a $0 Down Lease Deal

Even though dealers and manufacturers promote zero down leases, only certain customers qualify.  Your credit score is the key factor determining whether or not you qualify for a $0 down lease deal. Most lenders will require you to be a "well-qualified customer", meaning you must have a high credit score, over 680. Having your credit score at hand will help you know if you qualify for a $0 down lease. Those with poor credit can also consider getting a cosigner that has a better chance of qualifying for the lease deal.

How Can You Get a Zero Down Lease?How to get a zero down lease

Here are the best ways to minimize upfront payments for your lease.

Look for Published 0 Down Lease Deals

The first option is to search for advertised 0 down lease deals. Dealerships and manufacturers will usually publish zero down lease deals at the beginning of each month, so your best bet is to look around for those specials. Check out this month’s 0 down lease deals here.

How to Negotiate a Zero Down Lease

How to negotiate a zero down leaseThe majority of car leases are advertised with a down payment, but yes, you can negotiate a lease to become zero down.

Once you find a good advertised lease deal, the trick is too simply ask the dealer if they will allow it.  If you have a good credit score many will accommodate, especially since you'll be paying more interest over the lease term.

Now if the car you want doesn't have a good lease offer, negotiate the sale price first and the down payment last.

You'll get the best deal by getting prices from several dealers and then negotiating over email.  Don't tell the dealer you will be leasing up front.  After you agree on a good car price, ask the dealer to use that as the capitalized cost of a lease.  Then ask if you can roll the down payment into your monthly payments and voila....you've got your zero down lease!

Frequently Asked Questions

How do you negotiate a 0 down car lease?

Negotiating a car lease may be intimidating, but it is crucial for getting the best deal. It’s best to look for new deals each month and then have multiple dealerships compete in order to get the best price.

What does 0 due at signing mean?

0 due at signing means you will not have any out-of-pocket expense on the day you sign the lease. The cash-due fees are rolled into your overall lease cost, which means you will have a higher monthly payment.

Are lease down payments negotiable?

Lease terms are negotiable, and you can usually negotiate the down payment and total money down. With a solid credit score you may be able to drive away without putting any money down.

What credit score is needed to lease a car with no money down?

A good, strong credit score will help you qualify for a lease with no money down. Typically, we recommend a credit score of 680 or above.

How much should you put down on a lease?

There is not a set amount that you should put down on a lease. Your personal finances and preference will play a role. Keep in mind that putting more down will help reduce your monthly payments and the amount of interest you pay, but it is a larger out-of-pocket expense that you cannot get back.

Are European Car Delivery Programs Worth the Effort?

Are European car delivery programs worth the money?

I’ve always been intrigued by European Car Delivery Programs.  It’s a compelling offer: sign up for a vacation to Europe, get treated like a VIP, and come home with a discount on a very big souvenir, your new luxury car.

Experts like Jon Spira tell captivating stories where you can pick up your brand new Porsche in Germany and race it on the Autobahn for less than you would’ve paid picking it up at your local dealership.

Is a European Delivery Program a Good Deal?

But are these programs worth it?  Over the past few years, manufacturers have tightened their belts and removed many of the extra perks that used to be included.

So I decided to see how European Delivery Program’s stack up against a car price you could negotiate for pick-up in the U.S.

Let’s take a look at how each manufacturers’ European deals compare to local prices.  But first…

How does a European Car Delivery Program Work?

How does European Delivery workThe idea is you buy a luxury car from Mercedes, Porsche, or Volvo (Audi, BMW, and Saab retired their programs) and pick it up at the factory in Europe.  You’ll typically get a discount on the price of the car plus a travel deal.  After you visit the factory, you can cruise around Europe for a couple weeks and drop off your car at a pre-approved location (these vary by manufacturer, but most have about 12 drop-off locations in different cities).

All programs include a factory tour and meal, international car insurance and registration for 2 weeks (about a $200 value).  When you’re done they’ll ship the car back to the U.S. for you free of charge, but keep in mind this is not the same as the destination fee (typically $895).  Mercedes is the only one to waive the destination fee as well.

Here’s the step by step process:

  1. You order a European luxury car from a U.S. dealer
  2. Once the pick-up date is confirmed, you book your travel
  3. Pick-up your car a few weeks later at the factory in Europe
  4. Spend a night near the manufacturer in Germany (or Sweden for Volvo) and get a factory tour plus a meal or two
  5. Travel the country-side in your new wheels for as long as you want (insurance lasts 2 weeks, but can be extended)
  6. Drop off your car at an approved European drop-off location
  7. Accept delivery in the U.S. within 6-8 weeks (if you live on the East coast) or 8-10 weeks (if you live on the West Coast)

BMW also includes a nice perk where you can pick up your car in the U.S. at the BMW Performance Driving school in South Carolina and learn how to race on their track like a pro.

Program Details by Manufacturer

Note: BMW officially ended their European Delivery program on May 18, 2020.  Here’s why it was discontinued.

Manufacturer WebsiteMy ReviewsPrice DiscountPick-up LocationAirfareHotel
BMWBMW European Delivery Analysis5% off MSRPMunich, GermanyNot includedNot included
MercedesMercedes European Delivery Analysis7% off MSRP & destination fee waived ($925)Sindelfingen (near Stuttgart), GermanyDelta voucher of $200One night
PorschePorsche European Delivery AnalysisNo discountStuttgart or Leipzig, GermanyNot includedOne night
VolvoVolvo European Delivery Analysis2-10% off MSRPFree @ Gothenburg, Sweden, 9 other pick-up locations (transfer charge, $392-$1447)Round trip tickets for two includedOne night

Manufacturer Program Comparison

So how do the European deals compare to pricing in the States?  In the table below I started out by selecting 5 models around the $50,000 range. I figured that if you’re buying a $500,000 Maybach, you probably don’t care too much about cost, but if you’re looking at cars with one less zero, you might still want to do a little comparison shopping.

After I selected a few models, I went to Edmunds to find out what they suggest is a good target price in the States if you were to haggle with local dealers without picking up overseas.  Then I compared that to the European Delivery deals with and without travel perks.  Savings are calculated based on estimates of $700/roundtrip flight and $150/night at a hotel.  Perks like meals, factory tours, are international insurance are not included in these numbers.

ModelMSRPEdmunds True Market ValueDestination FeeTotal Expected U.S. PriceEuropean Delivery % SavingsEuropean Delivery PriceEuropean Travel SavingsEuropean Delivery Price + Travel Savings
2019 BMW 530i Sedan$53,400 $50,678 $995$51,673 5.00%$50,730 $ -$50,730
2019 Mercedes GLC Coupe$47,300 $44,573 $995$45,568 7.09%$43,945 $350$43,595
2019 Porsche Macan SUV$49,900 $47,936 $1,250 $49,186 0.00%$49,900 $150$49,750
2020 Volvo XC90 SUV$48,350 $47,625 $995$48,620 9.00%$43,999 $1,550 $42,449
*I do not guarantee the accuracy of the prices or promotional details quoted above.

My Analysis

  • My Analysis of European Delivery programsAll manufacturer programs except for Porsche are a better deal to pick-up overseas.
  • Most travel perks have been scaled back and those perks’ dollar value is nominal with the exception of Volvo’s travel package.  Although it should be noted that the value of the travel experience is exceptional for all programs.
  • The winner for best bargain is Volvo.  They are the only European manufacturer to still offer a full travel package.  Most programs used to offer two round trip tickets and hotel accommodations, but now only Volvo offers both.

Other Considerations

  • Be sure to make sure the total price of the car (with discount + vacation) is less than what you can negotiate for each separately.  If it’s cheaper to buy the car locally and rent a nice car overseas, save yourself the extra paperwork.
  • Most programs cover European fees and freight, but check for an extra charge for delivery from the U.S. drop-off to your home city. In that case, once the car is in the States, you can always shop around to have the car shipped to you at a lower price.
  • Most programs cover international vehicle insurance and registration for 15 days (about a $200 value). If you plan on staying longer coordinate extra insurance with your local dealer before you go. U.S. and Canadian insurance coverage is not valid in Europe.  If you don’t have insurance during your trip, your car could be confiscated when you cross an international border.
  • Most programs have 10-20 international drop-off locations, but coordinate in advance where you will be leaving your car when your vacation is over.
  • Do not plan to leave any personal belongings in your car as they might not make it back to the States and are not insured (even though the car is).
  • Ensure vehicle is cleaned before handing over for transport. If the car is dirty, the shipping company may refuse to load the vehicle or the EPA will steam clean the car at your expense.
  • Some programs offer the ability to buy a non-U.S. specification vehicle.  That means you may be able customize your car with some options that are only available in Europe.

Would you consider flying to Europe to pick up your next car?

European Delivery Infographic
European Delivery Program Comparison (infographic)

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Frequently Asked Questions

What’s included in European delivery?

Programs typically include a discount on car price, a European travel package, factory tour, international car insurance, and free car shipment to the States.

Is it cheaper to buy a European car in Europe?

All manufacturer programs except for Porsche are a better deal to pick-up overseas. See a full price comparison between US pick-up and European delivery.

Which manufacturers have European delivery programs?

Mercedes, Porsche, and Volvo each offer European delivery.

Who has the best European delivery program?

The best value in a European delivery package goes to Volvo.  View Volvo’s program details and the runners-up.

Does Audi offer European Delivery?

The Audi European car delivery program was discontinued at the end of 2018.

Does VW offer European delivery?

No, Volkswagen does not offer European delivery.

The Ultimate Guide to Car Discounts for Teachers and Educators

car discounts for educators

car discounts for educatorsGM manufacturers including Chevrolet, Buick, GMC, and Cadillac all offer discounts to teachers and educators. The discounts can be as high as $5,500, but cash back amounts vary from vehicle to vehicle.

These deals apply to select new 2018, 2019, and 2020 vehicles, ranging from SUVs, sedans, pickup trucks and cargo vans. Educators can apply this discount to a purchase or lease and they can be combined with most other current incentives.

Let's take a closer look at how to qualify and the requirements for each of these teacher savings programs.  At the bottom we also list all the current discounts for educators offered by each manufacturer.

How to Qualify for a Teacher Discount

how to qualify for a teacher car discountTo qualify for a teacher car discount you have to either work in the educational field or have a parent that does.

GM offers the Educator Discount to a wide range of members of a public or private school, university, or college. This includes:

  • Educators
  • Administrators
  • Faculty
  • Support Staff

You can also share this special offer with your spouse and dependent children. A dependent child qualifies as:

  • Under 21 years of age
  • Full-time student under 25 years of age

What to Bring to the Dealership

Before heading to your local authorized dealership, GM requires an authorization number which can be obtained through their site. Once you have an authorization number, you must bring the code and these other documents as proof of eligibility:

  • Copy of school ID/badge
  • Copy of current pay stub (within last 30 days)
  • Copy of driver’s license

As an educator, you can purchase or lease up to two new vehicles per year with the GM Educator Discount.

Best Discounts for Teachers & Faculty

Below are some of the best car deals for teachers, administrators, faculty, and support staff.

MakeProgram NameSpecial Offers & DiscountsEligibility & RequirementsExpiration
BuickGM Educator DiscountUp to $1,500 off purchase/lease on 2019 or newerCurrent employee of public, private, university, or collegeOngoing
GMCGM Educator DiscountUp to $2,500 off purchase/lease on 2019 or newerCurrent employee of public, private, university, or collegeOngoing
CadillacGM Educator DiscountUp to $5,500 off purchase/lease on 2019 or newerCurrent employee of public, private, university, or collegeOngoing
ChevroletGM Educator DiscountUp to $3,000 off purchase/lease on 2019 or newerCurrent employee of public, private, university, or collegeOngoing




These offers may vary based on location, credit score, and financing terms and are not guaranteed.  So use my free service to Check Discount Car Prices to get the best prices that include current manufacturer offers and incentives.

Frequently Asked Questions

What car companies give teacher discounts?

All the GM family of car brands offer discounts.  That includes Chevy, Buick, GMC, and Cadillac.

How much is a teacher discount?

Discounts range from $1,500 to as high as $5,500 depending on the brand.

How long must you be a teacher to qualify?

Length of employment does not matter as long as you can prove you're currently a teacher or faculty and can show a pay stub.

Do family members get the teacher discount?

Spouses and dependent children both qualify for the discount.

Does Honda, Toyota, or Nissan have teacher discounts?

None of these brands currently offer discounts at the national level.  Although some dealerships may occasionally run local promotions.