Borrowing money for nothing sounds like a good deal. Zero percent financing on a new vehicle allows you to borrow money without paying interest or bank fees.
But is this a good deal, or is there a catch? What are the advantages and disadvantages?
Zero Percent APR Car Loan
Usually, when you take out a vehicle loan, interest is charged on the financing. The interest rate is dependent on your credit score, term, type of vehicle, and loan amount.
Zero percent APR financing is a loan that doesn’t charge interest. Instead of paying interest, your monthly payments go directly toward the principal from the loan’s inception….