And maybe even a few from Audi and BMW.
Auto sales have been down for the past several weeks for all automakers, both luxury and mainstream. The COVID-19 outbreak rightly caused consumer panic as millions of Americans lost their jobs and created too much uncertainty for those who managed to remain employed for now. Buying a new car, typically one of our expensive purchases, suddenly became a non-priority. But living with the coronavirus pandemic is quickly becoming the new normal and automakers have adjusted quickly for the times. Offers with 0 percent interest and deferred payments are popping up and Infiniti has become the latest to do so.
The luxury brand has just announced that effective immediately, it is offering well-qualified buyers 0 percent APR financing for up to 72 months on any 2020 Infiniti. That's right, every new model in the lineup. On top of that, all payments are deferred for 90 days.
Just to give you an idea as to how good this offer truly is, Infiniti's mainstream sibling brand, Nissan, doesn't even have such an offer at the moment. Most new Nissans are being advertised with 0 percent APR for 60 months. The Nissan Frontier and Titan, however, have zero interest for 84 months, but this is for remaining 2019 models only and not potential buyer wants a truck. Not even Infiniti's main luxury brand rivals have offers like this at the moment. Mercedes, for example, is currently offering 0 percent interest but only for a maximum of 36 months.
A new 2020 Infiniti QX60, the brand's best-seller last year, typically runs for about $50,000 with added options. Factor in this new offer and you're looking at monthly payments of about $694.
The Mercedes GLE by comparison, just one of the QX60's many rivals, has a monthly payment of $1,388 with the same sticker price and the 36-month interest-free deal. In other words, the GLE would be double the monthly price. Infiniti clearly wants people to take advantage of this great offer because it doesn't expire until June 30.
Will Infiniti's rivals match this deal in the days and/or weeks ahead? Perhaps, but the fact that Infiniti has a better deal right now for all of its models than Nissan will certainly raise a few eyebrows.