1% car loan

A “1% car loan” is usually a heavily subsidised promo rate from a car brand or dealer finance arm, not a magic money glitch.

The headline rate often excludes fees and balloons, so the comparison rate can be higher than you’d expect, especially on shorter terms.

Expect tight eligibility, specific new models only, and fewer discounts on the drive-away price because the cheap finance is the deal.

Do the maths: total repayments with all fees, any balloon at the end, and what you’d save if you took a normal loan but scored a bigger vehicle discount.

Buying used? True 1% is rare—compare dealer offers with bank or credit-union specials and pick the one that wins on total cost, not headline sparkle.