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Is it difficult to qualify for 0% financing on a car?

"Can anyone qualify for 0% financing? While shopping around for a new car I saw that the local dealership is offering 0% financing."

avatar
Johnny Puckett · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Those advertised 0% interest car loans are very hard to qualify for.
Usually only borrowers with a credit score of over 800 can get that deal for a
new car
.
However, dealerships usually do have a reduced financing deal that runs at the same time. So those that don’t qualify for 0% will usually still qualify for low interest, though keep in mind you can find a similar deal at a credit union or bank as well.
It also helps to have a sizeable
down payment
to reduce the monthly payments and total interest charged.”
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