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Frequent Contributor
Posts: 439
Registered: ‎08-13-2008

Typical credit score need for 0% APR?

Anyone who has obtained this type of financing know an answer to this? 

Equifax - 658, Experian -628, Transunion- 704 In the garden until 01/01/2016
Super Contributor
Posts: 5,703
Registered: ‎10-06-2007

Re: Typical credit score need for 0% APR?

The criteria varies with dealers.  many times a delars add will list it in small print.  if the finace is through the car company, say ford Motor Credit, I would call them and ask.  They may not tell you but it won't cost an INQ.  you can also take a copy of your CR/scores to the dealer and see what they would do.  They may not tell you or may say that they can get you 0% just to get you to buy but you can always say no and any other INQs done for an auto loan within 2 weeks wo'nt count any more so you have nothing to loose.
11/28/2014 FICO: EQ: 796 EX:788 TU:803
Established Contributor
Posts: 982
Registered: ‎05-27-2009

Re: Typical credit score need for 0% APR?

To qualify for honda's best rates (super-preferred tier), its a 710.

Starting Score: 627 EQ, 621 TU - 11/15/08
Current Score: 778 EQ, 781 TU, 778 EXP 07/20/12 Lender Pull
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Regular Contributor
Posts: 185
Registered: ‎07-26-2009

Re: Typical credit score need for 0% APR?

I say Toyota Financial Services is by FAR the easiest to get zero. In June I co-signed for my mother who's score was in the high 400's to get 0% for 60 months and at that time my score was only like 680. The finance manager showed me the tier levels and I believe a 680 was tier 1 with them. Either way, I thought it was very easy...other dealers laughed when we asked about zero percent with our scores.

Valued Contributor
Posts: 1,320
Registered: ‎04-18-2009

Re: Typical credit score need for 0% APR?

I think it is normally around 710 or 720 but a down payment MAY influence the top tier zero rate. A friend of mine just bought a BMW, he put no money down and got the best rate BMW financial was offering at the time....My credit isn't stellar by any means and I qualified for the promitional rate on my recent car loan, but I put down 5K.  Hope this helps

Starting Score: 682 EQ, 663 TU
Current Score: 687 EQ - 705 TU on 7/18/10
Goal Score: 700 + both EQ and TU

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Valued Member
Posts: 32
Registered: ‎10-31-2009

Re: Typical credit score need for 0% APR?

In May of '09 I was able to get 0% financing on a brand new Pontiac G3 ( I could  have had a chevy aveo,same exact car, but I liked the style of the G3) with a 650 credit score. I financed through gmac, which is GM's bank. A lot of it comes down to if you are picky about what make and model you want and what promotions that particular dealer is offering. You might be able to get a good deal on a closeout 2009 vehicle, but if you're credit is less than stellar, try not to be  too picky. Also, if you are lucky enough to get a 0% loan, don't pay a penny extra on the loan. Use the entire term of the loan. If you have extra money to put on the car, simply put it in the bank so YOU can collect interest.

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