Let's put it this way: it doesn't happen often.
The Veloster N hot hatchback is the enthusiast's choice from Hyundai's entire lineup. Not only is it a blast to drive, but it's also affordable and easily doubles up as a daily driver. While Ford has abandoned this segment, Hyundai has no such intentions. In fact, it really wants to sell you a new 2020 Veloster N this month.
CarsDirect has uncovered a 0 percent interest financing offer currently running. Even more amazing is that this is the first time Hyundai has issued such an incentive. To be more precise, the deal is 0 percent APR for 48 months, and if you're still not impressed, then know this: Hyundai Financial will allow buyers to defer the first month's payment for up to 90 days. Only last month, the best Veloster N interest rate was 2.9 percent with no deferral period.
For a $30,000 car, the lack of interest will definitely make those monthly payments easier. For example, on a four-year loan, the lack of interest translates to a total savings of $1,810, with payments of $625 per month. Last month, that monthly payment would have been $663. As always, there are some potential pitfalls to be on the lookout for.
All current Veloster N rebates are limited to just $500. Regular Velosters currently have a $1,500 bonus. But again, this will only matter if you're considering a less powerful hatch. Also, a Veloster N equipped with the optional Performance Package is not eligible for the $500 rebate.
But what if you want a loan period longer than 48 months? Can you also get the 0 percent interest? Unfortunately no. Instead, there's currently a 1.9 percent rate for 60 months and 2.9 percent for 72 months. Prefer to lease instead? Don't. The interest rate lease equivalent is - wait for it - 4.8 percent. Also, there's $2,599 due at signing for a 36-month lease at $419 per month. In other words, take the 0 percent financing on a 48-month loan.
Another piece of good news is that this offer is good until November 2, but it's worth noting there's a good chance the 2020 models won't be around much longer as the 2021s are already on the way.