Best 0% APR Deals on SUVs [May 2022 Edition]

best 0 apr suv dealsThe auto industry has been beaten up badly by the Coronavirus which is a good thing for you.  We're seeing an unprecedented number of zero percent APR deals on SUVs to encourage car sales.

Not only are there more 0% APR deals, but payment terms have been extended and many offers are for 60 months, 72 months, and even 84 months.

If you've been thinking about buying, now may be a good time with so many interest free deals on 2020 and 2021 SUV models.

Not looking for an SUV? Check out our picks for the best overall 0% APR deals for all types of vehicles from sedans and compact cars, to mini-vans and pick-up trucks.

Best 0% APR Financing Deals on SUVs

Here are our picks for the best APR deals on SUVs for the month of May. Some include bonus cash offers as well.

2021 Jeep Grand Cherokee#1 Deal: 2022 Jeep Grand Cherokee WK

Finance Deal: 0.0% APR for 48 months plus $2,000 in bonus cash

Check Jeep Grand Cherokee WK Prices


Dodge Durango#2 Deal: 2022 Dodge Durango

Finance Deal: 0.0% APR for 48 months

Check Dodge Durango Prices


Dodge Charger#3 Deal: 2022 Dodge Charger

Finance Deal: 0.0% APR for 36 months

Check Dodge Charger Prices

2020 Cadillac XT5#4 Deal: 2022 Cadillac XT5

Finance Deal: 0.0% APR for 36 months plus $500 in bonus cash

Check Cadillac XT5 Prices

2020 Cadillac XT6#5 Deal: 2022 Cadillac XT6

Finance Deal: 0.0% APR for 36 months plus $500 in bonus cash

Check Cadillac XT6 Prices

YearMakeModelBest Avail. APRLengthCash BonusExpiration
2022JeepGrand Cherokee WK0.00%48 months$2,000 5/31/2022
2022DodgeDurango0.00%48 months5/31/2022
2022DodgeCharger0.00%36 months5/31/2022
2022CadillacXT50.00%36 months$5005/31/2022
2022CadillacXT60.00%36 months$5005/31/2022

What to consider before financing an SUV

SUV’s offer more headroom, versatility, and off-road capability than sedans, but they are typically more expensive.  Before taking out a loan to buy an SUV consider these things.

1 - Type of SUV

SUV’s come in four main sizes: sub-compact, small, mid-sized, and large.

Sub-compact SUV’s usually share a chassis with similarly sized cars and are sometimes called a compact crossover.  They have similar maneuverability to cars, however, they don’t add much cargo space and you won’t be able to handle any serious off-roading.

Most sub-compacts start in the low $20,000 range.

Small SUV’s drive more like a car than a truck and are typically equipped with a four-cylinder engine with better gas mileage than its larger siblings.  Small SUV’s are sometimes called a crossover and like sub-compacts, usually share a car chassis.

Most compact SUV’s start in the mid $20,000 range.

Mid-sized SUV’s are closer to trucks with an elevated ride, more headroom, and those with four-wheel drive can handle more difficult terrain.  They often have towing capability with a six-cylinder engine.  You’ll also get more cargo space behind the rear seats.

Most mid-sized SUVs start in the $30,000 range.

Large SUV’s, also known as full-size SUV’s, usually have a truck chassis and drive much more like a truck.  They have a high, elevated ride and are very spacious.  They are much less fuel efficient than smaller SUV’s and typically have a six or eight-cylinder engine.  They also have better off road capabilities and towing capacity.

Most full-size SUV’s start in the $40,000 range.

2 - Loan terms

Before you take advantage of that loan special on your SUV, read the fine print.  You may be required to pony up a large down payment.  Or if the loan comes with a low APR, be wary of a longer term-length that will result in you paying more overall.

In addition, a loan special often cannot be combined with other incentives and may require a certain purchase price.

3 - Do you qualify for the best rates?

If you want to take advantage of low or no-interest financing specials at the dealership, you must be considered a well-qualified buyer.  If that’s not the case, the dealer will likely try to convince you to use their financing with an extra 2-4% interest padded above market rates.

To combat this, get pre-approved by online lenders, your bank, or credit union before heading to the dealership.  You can use your outside loan or ask the dealership to match the annual percentage rate.

How can you get SUV financing with bad credit?

To qualify for low financing to purchase that new sport-utility vehicle or crossover, you will realistically need a credit score of at least 700.

If your credit isn’t great, you may have to take on a loan with a high interest rate which can add thousands to the life of your loan.  So, to lower the overall cost of your SUV, consider…

  • Negotiating the purchase price to a lower amount by getting price quotes from several local dealers.
  • Making the largest down payment possible which will reduce the balance of your loan and the size of your monthly payments.
  • Shopping around for financing online where you can expect to pay a lower APR than a bad credit loan at the dealership.
  • Buying a used SUV instead to get a vehicle without spending as much money.

Frequently Asked Questions

What car companies are offering 0% APR on SUVs?

Brands like Ford, Kia, Hyundai, and Nissan consistently put out new 0% APR deals each month on their line of SUVs and crossovers.

What is the most affordable SUV to buy right now?

You can often find an SUV for around $17,000 - $20,000 before any negotiations. These include SUVs like the Hyundai Venue, Hyundai Kona, Ford EcoSport, and Nissan Kicks.

Is it a good time to buy an SUV?

Typically, the best time to buy a new SUV is at the end of December, or at the end of any quarter (March 31st, June 30th, and September 30th). However, most manufacturers release new car incentives each month.

Is 0% financing on an SUV a good deal?

0% financing can be one of the better car deals available, but it is usually reserved for very well-qualified customers or only on certain models. As long as you can afford the loan, a 0% APR deal on a new vehicle can be a great deal.

Is a 72-month car loan bad on an SUV?

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.