How do you get a 0% APR car loan?

What do I need to do to qualify for a 0% APR car loan? I see them advertised sometimes, but I’m not sure how I can get one myself.

Low interest rates are a key ingredient in any worthwhile car loan. That said, these are some of the biggest qualifying factors for a 0% APR car loan:
  • High credit score. Applicants will typically need credit scores of 740 or higher to qualify for 0% APR loans.
  • Agree to buy a qualifying car. 0% APRs are usually offered by lenders that are directly associated with manufacturers, like Ford Motor Credit, Nissan Finance, Toyota Financial Services, and GM Financial. The dealerships will usually have overstock issues, so the APR offer might be attached to certain vehicles.
  • Short repayment period. Since the APR is non-existent, lenders will also require applicants to pay them back in a short timeframe. You’ll need to make high monthly payments to qualify for 0% APR.
While 0% APR might seem like a great deal, it’s a high-demand loan that’s intended for people in strong financial situations. But try not to worry. Even if you don’t qualify for a 0% APR loan, there are plenty of other good loans with low interest rates.
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Liz Jenson
Answered on Dec 14, 2021

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