Best 0% APR Deals on SUVs [January 2023 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 2022 and 2023 SUV models.

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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 January. Some include bonus cash offers as well.

Ford Explorer#1 Deal: 2022 Ford Explorer

Finance Deal: 0.00% APR for 36 months

>> Check Ford Explorer Prices

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Ford Explorer - Price Drop Alerts
Want the best deal? Get notified when the market price changes for the Ford Explorer so you can pounce when the price is right.
We'll also email you as soon as new car deals are published each month along with our best car buying tips to save you money!

 

2021 Honda Passport#2 Deal: 2022 Honda Passport

Finance Deal: 1.90% APR for 24-48 months

>> Check Honda Passport Prices

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Honda Passport - Price Drop Alerts
Want the best deal? Get notified when the market price changes for the Honda Passport so you can pounce when the price is right.
We'll also email you as soon as new car deals are published each month along with our best car buying tips to save you money!

 

2020 Infiniti QX80#3 Deal: 2022 Infiniti QX80

Finance Deal: 1.90% APR for 36 months

>> Check Infiniti QX80 Prices

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×
Infiniti QX80 - Price Drop Alerts
Want the best deal? Get notified when the market price changes for the Infiniti QX80 so you can pounce when the price is right.
We'll also email you as soon as new car deals are published each month along with our best car buying tips to save you money!

YearMakeModelBest Avail. APRLengthCash BonusExpirationCheck Prices
2022FordExplorer0.00%36 months1/31/23Check Prices
2022HondaPassport1.90%24-48 months2/28/23Check Prices
2022InfinitiQX801.90%36 months1/31/23Check Prices

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 [check out our top picks].

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

2 - Loan terms

Long loan terms may be necessary if you don’t have the funds to pay off your car loan within the often shorter amount of time granted with lower APR offers.

A 0 percent APR for 72 months might be a great option, but if you aren’t sure that you’ll be able to pay the SUV off within that time frame, you may need to look at other options and forfeit that 0% APR option.

Even if you feel confident that you will be able to pay back your loans, read the fine print to see if the special terms and conditions make the 0% APR offer not worth it.

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.