Time to go truck shopping.
The completely redesigned 2021 Ford F-150 has been revealed and should arrive in dealerships in the very near future. However, Ford needs to sell the remaining 2020 models scattered throughout the country in order to make room on dealers' lots. If you're willing to settle for the outgoing but still highly capable F-150 generation, then you should really pay attention to this. The automaker is currently advertising its full-size truck with a 0 percent APR financing deal for up to 72 months. Not all buyers will qualify, of course, but those who are in solid financial shape with good credit shouldn't have any issues.
And in case you're wondering, the Chevrolet Silverado 1500 doesn't have interest-free financing on any trims while the Ram 1500 has it available only on a few configurations. In other words, the F-150 is the best deal in town right now.
Say you have your eye on a 2020 F-150 with a price tag of $50,000. A 72-month loan (6 years) at 0 percent interest comes to $694 per month. But say that interest rate was listed at 5 percent. This would amount to almost $8,000 in interest alone, bringing that monthly payment to $805 over that same period of time.
And in case you're wondering, the F-150 Raptor is not eligible for this specific offer, which is a shame but not exactly surprising. If buyers are not loyal to one specific truck brand over another, it may also be worth investigating various rebate offers as well.
Although they're not typically as good as interest-free financing, they can still help bring down the vehicle's cost by several thousand dollars. For now, Ford states this current offer will expire on August 31, so there's still plenty of time to do some shopping and make a decision. Then again, the redesigned 2021 F-150 does have tons of cool new upgrades, as well as a hybrid variant.
Tough decisions, no doubt, but at least America's best-selling full-size pickup truck can be had for reasonable prices.