How common are zero-interest car loans?

My dad managed to land a zero-interest car loan when he bought his last vehicle, but I haven't come across any such offers now that I'm car shopping for myself. How common are these kinds of loans?

Answer
Zero-interest car loans are often promotional deals from either a dealership or the auto manufacturer. However, these aren’t just random promotions. Instead, they are often based on current interest rates to lure buyers during periods of high interest or inflation.
And while specific statistics aren’t readily available, past estimates have shown that roughly 10% to 15% of car loans are zero interest.
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Eric Schad
Answered on Mar 08, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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