How to Get 0% APR on a Car Loan

A 0% APR car loan is a great way to finance a new car. Here’s how to get one.

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With interest rates at all-time lows, you may be wondering if you can get 0% APR on a car loan. The answer is maybe. Here’s what you need to know.

First, what is APR? APR stands for Annual Percentage Rate and is the interest rate you will pay on your loan over the life of the loan. So, if your loan has an APR of 3%, you will pay 3% interest on your loan each year.

Now, most car loans have an APR of around 4%. But, depending on the time of year, your credit score, and the make and model of the car you’re interested in, you may be able to get a lower rate. In fact, some companies offer 0% APR financing for certain cars at certain times of year.

To get 0% APR on a car loan, you’ll need good credit. If you have excellent credit, you’ll be in a much better position to negotiate for a lower interest rate. You may also want to consider financing through the dealer rather than through a bank or credit union. Dealers sometimes offer much lower rates than banks or credit unions because they want to move inventory quickly.

If you’re thinking about getting a car loan with 0% APR, make sure to shop around and compare rates from different lenders before making a decision.

How to Get 0% APR on a Car Loan

If you’re in the market for a new car, you may be able to get a 0% APR car loan. This means that you won’t have to pay any interest on your loan, and your monthly payments will go towards the principal of the loan. To get a 0% APR car loan, you’ll need to have good credit and be able to negotiate with the dealer.

Understand What You’re Signing Up For

Zero percent APR car loans are a great deal, but you need to understand what you’re signing up for before you get one. Here’s what you need to know about zero percent APR car loans.

First, a zero percent APR car loan is not a free ride. You will still have to make monthly payments on your loan, and if you miss a payment, you will be charged interest.

Second, a zero percent APR car loan is not always the best deal. Sometimes, it’s better to get a low interest rate car loan instead of a zero percent APR car loan. It all depends on your individual circumstances.

Third, a zero percent APR car loan may not be available for the full term of the loan. Most zero percent APR car loans have an introductory period during which you will not be charged interest. After the introductory period, the interest rate will go up.

Fourth, a zero percent APR car loan may have restrictions on how you can use the loan. For example, some loans may only be used for new cars, while others may only be used for used cars. Be sure to read the fine print before you get a zero percent APR car loan.

Finally, remember that a zero percent APR car loan is not free money. You will still have to pay back the loan, with interest, over time. But if you understand what you’re signing up for and shop around for the best deal, a zero percent APR car loan can save you money in the long run.

Find the Right Lender

You can get 0% APR on a car loan if you know where to look. You might be tempted to just go to your bank or credit union, but there are a few other options you should consider first.

Auto dealerships: Many dealerships offer their own financing, and they’re often willing to give you a great deal on the interest rate if it means getting your business. It’s worth checking with multiple dealerships before making your final decision.

Credit unions: Credit unions typically offer lower interest rates than banks, so they’re worth considering if you’re looking for a 0% APR loan. Just make sure you compare offers from multiple credit unions before deciding on one.

Banks: Banks are typically the most expensive option for car loans, but they might be willing to work with you if you have good credit. It’s worth checking with your bank or credit union to see what deals they can offer.

Once you’ve found a few potential lenders, it’s time to compare offers and choose the one that’s right for you. Make sure you compare the interest rate, loan term, and monthly payment before making your final decision.

Get a cosigner

Car buyers with terms of 60 months or less may not have to pay interest on their auto loan if they can find a 0% APR deal. Instead of paying the lender interest, the loan’s terms may call for the buyer to pay a higher monthly payment. Some lenders offer these deals to customers as an incentive to buy a car from them.

Before you start shopping for your new car, it’s important to understand how 0% APR auto loans work and the steps you need to take to qualify for one.

Getting a 0% APR deal on your car loan is possible if you have good credit and you’re able to find a participating lender. In order to get a 0% APR loan, you’ll likely need to have a cosigner with good credit since most lenders won’t approve the loan without one. You’ll also need to make a large down payment, usually 20% or more of the car’s purchase price, in order to get approved for the loan.

Improve your credit score

The first thing you should do if you’re looking to get 0% APR on a car loan is to check your credit score and work on improving it. A good credit score is generally considered to be 700 or above, and a score of 750 or above is considered excellent. If your score is below 700, there are still things you can do to improve it.

One way to improve your credit score is to make sure you’re paying all of your bills on time every month. This includes things like credit card bills, utility bills, and even your rent or mortgage payments. Payment history is one of the biggest factors in your credit score, so it’s important to make sure you’re always keeping up with your payments.

Another way to improve your credit score is to keep your credit card balances low. When lenders see that you’re using a small percentage of your available credit, it shows them that you’re not relying too heavily on debt and that you’re able to manage your finances responsibly. Try to keep your balances below 30% of your credit limit, and ideally below 20%.

If you can improve your credit score before applying for a car loan, you’ll be in a much better position to get 0% APR.


If you have good credit, you should be able to get a 0% APR car loan. Start by shopping around with different lenders to see who offers the best rates. Once you’ve found a lender you’re comfortable with, apply for the loan and be sure to ask for a 0% APR. If you don’t qualify for 0%, try negotiating with the lender to see if they’re willing to lower your interest rate.

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