With the July 4 holiday weekend upon us, car shoppers will see some big sales. GM is having a 72-hour sale and Chrysler is offering up to $6,000 in cash back incentives. Ford is also having a big weekend sale.
Ford’s Drive the Difference incentive is good through July 6 and will cover buyers’ auto loan payments for the first three months. Ford is also offering buyers 0% interest car loans though the program. The offer is only good through Ford Motor Credit.
A 0% interest car loan can save you a lot of money on a Ford Fusion.
The catch with the Drive the Difference incentive is that Ford is not really making your auto loan payments for you. On Ford’s Web site, it says “customer must still make actual payments to lender”. It also says that the first three payments are based on $1,500 cash back on most 2009 models.
So basically, you still make your auto loan payments, but get a cash back incentive when you buy a Ford vehicle. The offer is not good on hybrid vehicles and specialty vehicles, like the Mustang Shelby GT-500, for example. From what we can see, Volvo is not included in the promotion. Only Ford, Lincoln and Mercury vehicles qualify.
Whether or not Ford is actually paying your first three car loan payments is less important than the fact that 0% financing will save you a lot of money over the life of the loan. Any time you can buy a vehicle with a no interest auto loan, you can save several thousand dollars.