Posted: Saturday, March 3rd, 2018
A zero-percent car loan might seem appealing, but it’s important to keep these points in mind:
- A dealership will often offer zero-percent financing as a way of clearing out unwanted inventory.
- To qualify for a zero-percent loan, you’ll need a credit score around 690 or above.
- Be sure to compare your savings from zero-percent financing vs. bonus cash. One could save significant money over the other.
- A zero-percent loan can even be preferable to buying a car in cash, as it will increase your credit score over time.
- If you choose a zero-percent loan, make sure you still pay at least 20 percent on a down payment. That way you don’t end up paying more than you owe if the vehicle is totaled.
Find Out More About Auto Loans at Green Light Auto Credit
While zero-percent financing can be tough to get for customers with bad credit, you still have options. Find out just how low your monthly auto payments can be at Green Light Auto Credit! Our easy-to-complete financing application lets you find out your interest rate now, and you can always contact us with any questions.
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