0% has always been in lieu of rebates and incentives and in very few cases benefits the buyer.
Here’s an example…
A 35% discount on a $70k vehicle is $24,500 bringing the sales price to $45,500.
Financing the $45,500 at 6.9 over 72 months equates to $774 / month. Interest at 6.9% will cost $10,200 which equals out to $15,300 in savings if you take the 35% discount. You will owe $17,900 after 4 years.
Financing the $70,000 at 0% over 72 months equates to $972 / month. No interest cost but you are paying $15,300 than you should and IMMEDIATELY have 35% (or more) negative equity compared to the market. You will still owe $24,000 after 4 years which is $6k more than the buyer that took the discount and is paying the higher interest rate.
If you played the refinance game, you could refinance the $45,500 at 3.9/48 or 4.9/60 and still come out ahead of the buyer that took the 0% offer.
Long story short, take the discount as the amount financed and OUT THE DOOR price is what matters.