Nissan is already offering interest-free financing on its new truck before Labor Day, according to a newsletter sent to dealerships yesterday. In fact, our analysis reveals that the redesigned Frontier 2022 pickup actually has the exact same APR contract as Nissan’s outgoing truck.
As of yesterday, all Frontier 2022 pickups are now eligible for 0% APR for 36 months as part of a nationwide promotion. The NMAC also offers 36 and 48 month financing options at 1.9% APR, which appears to be in line with current offerings on the Ford Ranger midsize pickup.
If you’re looking for 72-month financing, NMAC allows dealers to offer 2.5% APR. However, the catch is that they can’t advertise it and are allowed to mark up the rate up to 2%. For those with particularly bad credit, the rate could reach 16.9%.
On a $ 35,000 truck, a 6-year 16.9% loan would involve almost $ 21,000 in interest and cost about $ 55,920 before taxes and fees. Higher rates for those with subprime credit aren’t unusual, but the brand has taken steps to make it easier to finance those with below-average credit.
At 0% APR for 36 months, the new Frontier could be a steal. Oddly enough, it’s the same deal as the Frontier 2021. While the outgoing truck has a less than 60-month APR rate of 0.9% (up from 1.9%), we consider this to be quite marginal given that the older truck hasn’t been redesigned since 2004.
Nissan’s financial incentives have been pretty good over the past two years, in part thanks to bonuses involving NMAC Special APR Cash. While dealers have been encouraged to sell larger (and longer) loans, disciplined buyers may be able to save this coming Labor Day.
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