With the average car loan rate currently fluttering between 4.11 and 4.14 percent for June 2013, finding a car loan interest charge significantly lower than that range represents a good opportunity to go after by borrowers. However, while the first assumption of borrowers is to go to a local bank or credit union for a car loan, many car manufacturers and dealers offer their own financing, which can be just as competitive if not better than what’s offered by a traditional lending institution.

Car manufacturers have learned over the last decade that auto financing can be a very lucrative market segment and business area. Big carmarkers like Ford and GM now have national divisions dedicated just to financing loans, producing nothing in the way of cars or car parts.

For June 2013, the following deals are available from multiple car dealers represent specific car brands:

Chevrolet, Buick, GMC, Cadillac: 0 percent to 1.9 percent financing
Ford, Lincoln: 0 percent to 1.9 percent financing
Toyota: 0 percent financing
Honda: 0.9 percent financing
Mazda: 0 percent to 0.9 percent financing
Nissan: 0 percent to 0.9 percent financing
Hyundai, Kia: 0 percent to 1.9 percent financing
Volkswagen: 0 percent to 2.9 percent financing
Subaru: 0 percent to 2.9 percent financing

The above rates are good through at least June 30, 2013 and some as long as June 8, 2013. For buyers it’s important to note, however, that the above rates are often teaser rates. While some can be fixed, many have a low interest rate charge for a preliminary period such as six months to a year, then the loan switches to a variable rate that may go up and down with market trends. Given that the economy seems to be improving, the likelihood of a variable rate rising over time is pretty likely. On the other hand, some manufacturers are offering their low financing as fixed, which means it won’t change over the life of the loan. So reading the details of the carmaker loan offered helps to understand exactly how it will work.