Lincoln the latest to offer interest-free auto loans

Lincoln SUV

Lincoln has 0% financing deals on many of its popular 2012 model cars and sport-utility vehicles.

You can get interest-free auto loans for up to 60 months on the 2012 Lincoln MKS sedan, midsize MKZ, midsize sport-utility MKT and large SUV Navigator.

We believe 0% financing is the best discount you can get on an auto.

Compare that to the average cost of a 60-month, new-car loan, which is 5.16% APR, based on our most recent survey of major lenders.

In most parts of the country, you could also qualify for $1,000 in trade-in bonus cash to go toward your car purchase if you’re trading in another vehicle for the new Lincoln.

You also could qualify for another $500 in bonus cash for Lincoln MKS and MKZ model cars.

The sticker price for the Lincoln MKZ starts at $35,630, including destination charges.

If you assume a 10% down payment and no trade-in, but add the $500 bonus cash toward the purchase, it would leave a balance of $32,567.

If you finance that amount with an interest-free loan for five years, the monthly payment would be about $543.

If you take out a 60-month loan of the same amount at the average 5.16% APR, you would pay $617 a month.

One of these interest-free auto loans will save you $83 a month or about $5,000 in interest charges over the loan term.

Use our auto loan calculator to help you budget your monthly payment.

The 0% discount rate on the 2012 Lincoln models is being offered across the country to buyers who take new retail delivery from dealer stock by April 2, 2012.

You’ll need to be a well-qualified buyer to get in on this deal.

There are no set rules for what "qualified" means, but if your credit score is less than 670, don’t be surprised if you get turned down.

These auto loans are being offered by Lincoln Automotive Financial Services, the Lincoln financing brand owned by Ford Motor Credit Co.

Interest-free auto loans are not available on the Lincoln MKZ Hybrid.

If you’re in the hunt for a new auto, use our 5 simple steps to the best deal on a new car or truck.

In addition, search our database of the best auto loan ratesfrom several other lenders in your area. It can help you score a good deal if you decide to buy a car other than a 2012 Lincoln.

If you’re in the market for a used car or truck, follow our 10 smart moves for buying a used car to help you avoid the costly traps.

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