The GMC Sierra and Toyota Tundra also have interest-free deals, but there might be better options on the table.
The unofficial start to summer happens this weekend in the United States with the long Memorial Day weekend, capped with Memorial Day on Monday, May 27. The special holiday honors the men and women who’ve lost their lives while serving in the U.S. military, though automakers hope to score some sales for the occasion with aggressive incentives on the most American of vehicles – pickup trucks.
Cars Direct has compiled a short list of trucks with deals on the table, and just about every full-size pickup is subject to at least something. Zero percent financing is the main draw, with Ford and General Motors offering an interest-free loan on the 2019 F-150, 2019 Chevrolet Silverado, and 2019 GMC Sierra for 72 months. There are some exclusions – the Raptor isn’t eligible for the deal, and GM has all kinds of fine print as to exactly which Silverado and Sierra models make the grade.
Ram is also offering interest-free financing for 72 months, but for the first time, it’s offered on the new Ram 1500 as opposed to the classic model. Ram has been killing it with half-ton pickup sales due to extremely aggressive incentives on the outgoing model, so much so that Ram actually passed Silverado for the number two sales position, and continues to hold the spot thus far through 2019.
Not to be outdone, Toyota and Nissan are also dipping toes into the Memorial Day sales extravaganza though the deals aren’t as lucrative. The full-size Tundra – a truck that seldom sees significant manufacturer incentives – is eligible for interest-free financing for 60 months in most parts of the country. Nissan doesn’t have much happening for its Titan, but the midsize Frontier gets zero percent financing for three years with no down payment, and no payments for three months.
As tempting as these deals sound, Cars Direct does point out other incentives that could be even better in the long run. For example, the report mentions a $9,015 discount for some Chevy Silverado models in lieu of the zero percent financing. Over the course of a 72-month loan, it would actually be cheaper to nix the interest-free financing for the big discount. The projected monthly payments would be lower, too.
In other words, always read the fine print and do the math yourself. Sometimes the obvious home run isn’t the best deal available.