Zero percent financing can make your loan costs lower when buying a new or used car. Learn the 10 best cars you can buy now in Canada with a zero percent financing deal.
When buying a new or used car with financing, one important number to hone in on is your car loan annual percentage rate. Your loan APR reflects the cost of borrowing annualized over the course of a year. If you’re trying to save money on a car purchase, a zero percent financing offer could be tempting. While this kind of financing isn’t completely cost-free (you may still pay loan fees), it can mean paying less in interest.
We’ve done the research to find the 10 best cars you can buy in 2019 using zero percent financing terms.
- Hyundai Sonata
- Mitsubishi RVR ES FWD
- Kia Sorento EX Premium
- Nissan Versa
- Chevy Equinox
- Toyota Corolla
- Buick Enclave
- Kia Rio
- Nissan Sentra
- Hyundai IONIQ hybrid Essential
1. Hyundai Sonata
Hyundai is currently running a zero percent financing promotion on several of its models, including the 2019 Sonata Essential. The starting price is $24,899, with zero percent financing extending up to 60 months. The 2019 Sonata comes highly rated for safety and some of the car’s best features include a turbocharged engine, heated front seats, Apple CarPlay and outstanding fuel economy. Overall, it’s a stylish choice if you’re looking for a zero percent deal on a new sedan.
2. Mitsubishi RVR ES FWD
The Mitsubishi RVR ES FWD is available with zero percent financing as part of Mitsubishi’s summer savings event. This subcompact SUV could be great for planning weekend camping trips or just hauling the kids to soccer practice. Current promotional financing terms including zero interest for 84 months with a starting price of $24,823. The minimum down payment is $1,995 and buyers have the option to make biweekly payments of $126.
3. Kia Sorento EX Premium
The 2019 Kia Sorento EX Premium has two promotional offers car buyers can take advantage of. The first is zero percent financing for 84 months. The other is an opportunity to up to $5,000 in cash discounts on other select Sorento models. Price-wise, the Sorento starts at $41,165 but it comes with plenty of premium features, including a 290 hp engine, panoramic sunroof, leather interior, rear parking sensors and smart power liftgate.
4. Nissan Versa
Nissan is offering zero percent financing for eligible buyers on both the 2019 Versa Note and the 2019 Versa Sedan. The Note is a compact car with an MSRP of just over $15,000 while the sedan offers a bit more legroom and a starting price of $12,460. In addition to zero percent financing, Nissan is also offering qualified buyers the chance to purchase a Versa with zero down and zero payments for 90 days.
5. Chevy Equinox
If you’re looking for something a bit bigger than a sedan, the 2019 Chevy Equinox Premier True North comes with zero percent financing for 60 months. Eligible buyers also get $1,200 in finance credits against the MSRP of $26,700. One appealing feature of the Equinox is all-wheel drive, which might catch your eye if you’re looking for a multi-terrain vehicle. As compact SUVs go, it has an impressive safety rating and the fuel efficiency you’d typically expect in a smaller car.
6. Toyota Corolla CE CVT
The Toyota Corolla CE CVT currently offers zero percent financing as well as zero percent leasing terms. Pricing starts at $21,790 so as new cars go, it’s a good option for new car buyers who are looking for something that’s budget-friendly. There’s an upgrade package option that raises the price by $2,000. If you’re looking for something a little sportier, Toyota also offers 0.99% financing on the 2020 Corolla XSE CVT. Pricing for that model starts at $28,490.
7. Buick Enclave
The Buick Enclave is a family-friendly SUV with enough seating room for up to seven. It comes with all the latest tech and safety upgrades and is designed for both comfort and style. The Enclave is a bit pricier, compared to some of the other cards included here as best buys for zero percent financing, with an MSRP of $48,100. However, if you’re looking for a luxury vehicle that allows you to pay zero interest for up to 72 months, this one is worth a closer look.
8. Kia Rio
In addition to the Sorento, Kia is also offering new RIO models with zero percent financing for 60 months. The 2019 Rio is an affordable option if you’re interested in purchasing a five-door hatchback. The LX MT models start at $15,045 but if you want to get something with more bells and whistles, the Rio Ex Tech starts at $23,995. If you need to extend your loan term a bit longer than 60 months, you also have the option to finance for 72 or 84 months. But, that means trading off zero percent financing for a 1.99 percent APR.
9. Nissan Sentra
Selected 2019 Nissan Sentra models can be purchased with zero percent financing for up to 84 months. Models start from $16,698 so if you’re looking for a new car under $20,000, this is one you might want to add to the list of possibilities. The Sentra offers fuel economy of up to 8.3L/100Km in the city and 61.L/100Km on the highway and an attractive design. Like the Note, Nissan is also offering a special zero down, zero payments for 90 days promotion to qualified buyers. It’s also possible to snag $1,500 in bonus cash back.
10. Hyundai IONIQ hybrid Essential
If you’re in the market for a hybrid car, you’re in luck. Hyundai is currently offering zero percent financing on 2019 IONIQ hybrid Essential models for up to 84 months. To land this deal, you’ll need great credit and a down payment of at least $2,495. The base sale price is $24,399, making it one of the more affordable hybrid models on the market. The IONIQ rates as one of Canada’s most fuel efficient cars, with a combined fuel economy of 4.1L per 100km.
Buying a car with zero percent financing typically means you’ll need to have good to excellent credit to qualify. If you have a less than perfect credit score, Birchwood Credit Solutions can help. We offer vehicle financing for buyers from a range of credit backgrounds, including those who’ve been through bankruptcy or divorce. We also work with newcomers to Canada who are just beginning to establish credit.
Browse our extensive vehicle inventory for cars, trucks, SUVs and more. If you’re ready to learn what kind of financing terms you may qualify for, complete our quick and simple online application today.