GM Extends 72-Hour Sale, 0% Interest Car Loans Still Available

By Ross Edwards
Wednesday, Jul 01 2009 11:59

GM has extended its “72 Hour Sale” to July 6. The incentive, which offers 0% financing for 72 months on most new car loans, was originally set to expire on July 30, according to Jalopnik. This gives consumers an extra week to take advantage of a great deal.

In the past, 0% interest car loan incentives were usually limited to shorter 24 and 36-month car loans. Buyers who wanted to extend their car loans to five or six years were forced to pay higher interest rates.

Zero percent financing on car loans is one of the best new car incentives for consumers. A 0% interest rate can save the average car buyer thousands over the term of their car loan.

The Cadillac SRX, a luxury crossover, is covered by the GM 72-hour sale. A fully-loaded Cadillac SRX has an MSRP of $52,430. A 72-month car loan for that price would cost $891 each month with a 6.9% interest rate, which is currently what is being offered on other Cadillac models. A 0% interest rate car loan for that same amount would cost $728 per month. That's a savings of $163 a month, and $11,736 over the length of the car loan.

Customers who buy expensive cars like the Cadillac SRX stand to save the most with a 0% car loan, but more economical buyers will also see substantial savings.

Confused or unsure about some of the car loan terms used in the article? Click here for our Auto Loan Glossary.