"What kind of credit score do I need to buy a new car with a zero-percent interest rate? "

"I was looking around at a Dodge dealership yesterday. The MSRP was right at $40,000, but the salesman said I could have it for $38,000 and possibly qualify for zero-percent interest financing. How likely is that to happen if I have a 650 credit score?


“First of all, you should have no problem finding financing from almost anywhere. However, you will likely not qualify for zero-percent interest financing from the dealer. A credit score of 700 and higher is typically required to qualify.
When you take into consideration the fact that you will be paying interest on the loan, and that dealer financing programs allow the dealer to slip in charges designed to maximize profits, you are better off finding your own financing.
Credit unions usually have the lowest rates, but banks are a good place to look for car loans as well. Who knows—maybe you can go back to the dealer with your own financing and offer them $37,000 for the truck. “
Johnny Puckett
Answered on Apr 26, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.

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