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?
Reviewed by Shannon Martin, Licensed Insurance Agent.
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.
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.