PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Are there any drawbacks to a 0% interest car loan?
"A local car dealership is running a 0% interest rate special, and now I'm interested in buying a new car.
Are there any drawbacks to a 0% interest loan?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“If you pay on time every month, a 0% interest car loan is a fantastic idea to save you money.
But, as with any financial contract, you need to read the fine print.
Some of these deals stipulate that they can add tons of expensive fees or increase your loan rate should you miss any payments. In addition, the 0% interest rate might also be temporary and increase to another amount at a certain point.
You’ll also have to qualify for the deal, so, unless you have stellar credit, there’s a chance you might not get approved.”
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies