In November, people spend a lot of money. Most likely, big-box stores have already sent you a lot of Black Friday texts to get you ready to spend a lot of money on their busiest day. Cars Direct says that this month, there are a lot of very low APR deals, and many of them have 0% APR. If you buy an electric car, you can save a lot of money for Christmas. For people who want to buy their first electric car, most of the November low-APR deals are on EVs and hybrids, which could make the process easier. Most of the deals are for SUVs, with a few exceptions. But it’s important to know that there are better choices than 0% credit. Along with interest-free financing, many companies offer other ways to save a lot of money. In this case, you can only pick between $10,000 off MSRP and 0% APR. Your choice will depend on how much the car costs, the APR if you decide to take advantage of the lower rate, how much the car is likely to lose value over time, and your personal goals. The yearly percentage rate on the cash discount makes it more expensive in the long run, even though it costs less each month. So, it would help if you weighed long-term value against monthly affordability individually. Hyundai’s Ioniq 5 and 6 (0.99% APR for 48 months), Subaru’s Solterra (0% APR for 72 months), and Kia’s EV6 are just a few examples. The Ford Mustang Mach-E has 0% APR for 60 months. There are also rebates and other benefits for many of those cars, and some of them can be used with a low APR. The best deal is on the Toyota Mirai with a hydrogen fuel cell. California Toyota Financial customers can get a $30,000 deal on top of the 0% APR for 72 months on the Mirai. However, you can’t get the discount if you hire; it’s only for people who finance. Based on the fact that the Mirai might lose the most value of all new cars, a hefty price is almost certainly needed to get people to buy. The majority of these deals will end on November 30, just in time for people to use them on Black Friday.
