0% Financing On New Cars In Toronto, Mississauga, Ontario, Canada

Chances are that if you’ve begun the search for a new car in Toronto or Mississauga or Brampton, you’ve likely come across a lot of low-interest special offers and incentives from a variety of automakers. Let’s look at one such offer that comes up often: 0 per cent interest. Can you actually finance a car and pay no interest at all over the term of the loan? Too good to be true in the GTA?

When you apply for a vehicle loan, it’s fairly straightforward: you’re borrowing money in order to pay for a car. But banks don’t dole out money for free. Interest is a fee that you pay your bank for lending you some of its money. In the case of 0 per cent loans, you pay no interest. You’re borrowing money without paying a fee for doing so. 0 car financing lets you pay the same amount of money as someone buying a car with cash. You’re simply spreading your payments over a longer term. How is this even possible? In most cases, it’s because the automaker, not the bank, is doing the lending.


The automaker can still make money with a 0 car finance deal, even when its on a new Ram 1500 for sale in Toronto. The amount earned on any car deal is the same, only now the money is earned over a longer time-span. The money isn’t made from the financing but rather, on the car itself. Zero per cent deals are usually quite legit. Zero per cent financing can however be difficult to qualify for, and that’s where that many car-buyers face some disappointment. What many car makers and dealers don’t mention is that unless you have the highest credit score possible and a lengthy credit history, zero per cent interest deals aren’t likely to be available to you.

As a shopper with average credit, you may find that you don’t qualify for zero per cent incentives. It’s best not to assume you’ll qualify for zero per cent financing until you visit the dealership. The higher car loan interest rates that may be offered by the dealer or automaker at that point aren’t a scam, it just means the fine print specified different qualifying requirements. If you’re excited about a 0 percent interest rate, it’s best to confirm that the rate is available through the dealership. Take the car you’re interested in for a test drive and negotiate a good price with the salesperson. The dealer will examine your credit history to determine whether or not you qualify for 0 per cent financing.

Should it turn out that you do not qualify for zero per cent financing, backing out of the deal may not be the only option. It is however important that you feel comfortable with the new rate offered for poor credit car loans. If it’s too high for your budget, you have a couple of other options. Check out other dealerships like a Dodge dealership, or visit a bank to see if you can get them to provide a better rate. The best bet is always to sit down with an expert at the dealerships to get the facts so that you can make an educated purchasing decision.


0% Financing Frequently Asked Questions

Is 0% Financing Always Available?

When shopping for a new Ram, Dodge, Chrysler or Jeep Wrangler for sale, you may be wondering if 0% will always be a possible financing option. 0% financing offers are sought after by anyone looking to purchase a new vehicle; however, this deal is not always offered. Be sure to connect with a member of our sales team to learn what financing promotions are currently available.

How Can I Qualify for %0 Financing?

If you are looking to qualify for 0% financing, be sure to take care in maintaining an optimal credit score. Though we are always pleased to assist customers with bad credit, 0% financing rates are typically more difficult to qualify for. Not sure where you stand when it comes to which rates are available for you? Apply for auto financing online and get started today to see how we can help.

Can I Get 0% Financing on a Used Car?

If you are looking for a used Ram 1500 for sale or have your eyes on a Dodge, Jeep or Chrysler vehicle, the experts at Ontario Chrysler can help. Though 0% financing is not available for used vehicles, we still offer competitive auto financing options for buyers of all credit levels. Contact us today and let us help you love your next Dodge, Jeep, Ram or Chrysler.