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?
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Answered on Mar 08, 2021
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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