What do you typically need to qualify for 0% APR financing?

The local Kia dealership is offering 0% financing for new cars, but in the fine print it reads for qualified buyers. What do I need to qualify for 0% APR financing?

“You’re going to need phenomenal credit to qualify for 0% APR financing, often 800 or better. But getting approved might go beyond that. You may also need:
  • an extensive credit history
  • a mix of revolving and installment loans
  • good income
  • a solid debt-to-income ratio
Even if you don’t have all of these, it’s worth applying to see if you can get approved. A 0% interest loan is the holy grail of all car loans, so if you don’t get approved, it doesn’t mean you won’t qualify for a great rate elsewhere.
Depending on what you qualify for with the Kia dealership, you should also comparison shop with other lenders to find the best offer.
Don’t forget that when you buy a new vehicle, you will need proper coverage. If you haven’t already found insurance, use the free Jerry app to help you find the best deal. Jerry compares rates from the top 50 companies in under a minute, delivering the best deals to your phone.”
Eric Schad
Answered on Aug 02, 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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