Best 0% APR + Low Interest Finance Deals on Trucks [February 2024 Edition]
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Buying a truck can be tough, especially when it comes to financing. We understand that. That's why we've done the hard work for you.
We've looked all over for the best 0% APR and low-interest finance deals for truck buyers.
We're here to make finding the perfect finance option for your truck easy and hassle-free.
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0% or Low-Interest Finance Deals on Trucks: Top Picks
Here are our picks for the best APR deals on trucks for the month of March. Some include bonus cash offers as well.
So, what trucks are offering zero percent financing? Check out this month’s best truck finance deals:
|Best Avail. APR
How We Collect & Rank Car Finance Deals
To rank truck finance deals, we focused on key points. Lower interest rates are better as they reduce the overall cost. Shorter loan terms mean less interest paid, even with higher monthly payments.
We preferred deals with lower down payments and monthly payments, but only if they didn't increase the total loan cost.
Finally, we checked if any special offers like cashback really added value. By considering these factors, we could easily identify the most affordable and sensible truck finance options.
What to Consider Before Financing a Truck
Trucks are great for hauling, towing, and off-roading, but how to pay for one is a big decision. Before lining up financing to purchase a truck consider the following.
1. Type of Pickup Truck
Pickup trucks, also known as light-duty trucks, have enclosed cabs and open cargo areas with low sidewalls and a tailgate. They come in different combinations of body styles and sizes.
Pickup Truck Body Styles
Pickups come in three different body styles which are related to the cab or seating area: regular cab, extended cab, and crew cab.
- Regular Cab pickups have two doors with a single row of seating and are limited to zero space behind the seats.
- Extended Cab pickups have two doors and a second, smaller row of seating with limited legroom.
- Crew Cab pickups have four doors and a more spacious second row of seating for comfortably fitting the whole family or work crew.
Pickup Truck Sizes
Pickups come in a wide variety of sizes, but the three main ones are the midsize pickup, the full-size pickup, and heavy-duty pickups.
- Midsize Pickup Trucks are on the smaller end of the spectrum and good for daily use with the versatility to handle off-roading, hauling, and towing when you need it. Two-wheel drive and four-wheel drive configurations are both available and most have low-range gearing. Towing capacity ranges from 5,000 to 7,000 pounds. Midsize trucks start in the mid $20,000 range.
- Full-size pickup trucks have cabs that are far off the ground with a large passenger area and come with all-wheel or four-wheel drive to handle the toughest terrain. In general, a full-size truck will have more power than a mid-sized one with an average towing capacity between 10,000 to 13,000 pounds. Full-size trucks start in the mid $30,000 range.
- Heavy-duty (half-ton, ¾ ton, and one-ton) pickup trucks are great for those with large towing needs, like owners of boats and RVs or commercial use on tough job sites. They are roughly the same size as full-sized trucks but are true workhorses with enormous towing capacity anywhere from 17,000 to 37,000 pounds. Heavy-duty trucks start in the $40,000 to $50,000 range.
2. Financing Terms
You need to take the overall financing terms, not just the APR, into account when deciding what loan to go with on that new truck.
That 0 percent financing for 72-month deal sounds pretty attractive, but it might not be the huge discount it seems to be.
When dealers offer a lower APR, they’ll often tack on hidden fees or extra requirements like a higher down payment to make sure they’re still getting money from you. Always check to make sure that the 0% APR deal is the best one on the table for you.
And if you’re using the truck for business purposes, consider whether leasing might be a better financial option.
3. Can You Qualify for the Best Interest Rate?
Just because the truck manufacturer advertises a low-interest rate doesn’t mean you’ll be able to get it. You invariably must have a great credit score to qualify for the best rates. Otherwise, you might be stuck paying dealer markup and less than optimal rates. With that in mind, it’s always a good idea to line up your own “backup financing” online to use as a negotiating chip at the dealership.
How Can You Get Truck Financing with Bad Credit?
If you have poor credit, you will likely find it hard to find financing for your new truck at a reasonable interest rate. Zero or low-interest-rate truck deals are usually reserved for buyers with a credit score of 700 or higher.
Bad credit loans can add thousands to the overall amount you pay. So, to reduce what you spend on your truck, consider…
- Reducing the purchase price by emailing several truck dealers and shopping around for the best offer.
- Make a large down payment to reduce the outstanding balance of your loan and the amount of your monthly payments.
- Getting a loan online where you can expect to pay a lower APR than a bad credit loan at the dealership.
- Leasing the truck instead, if you are using it as a utility vehicle for business purposes. If your accountant deems it a qualified business expense, you may be able to write off truck payments.
- Buying a used truck instead of finding something within your budget.
Frequently Asked Questions
What is the cheapest truck to buy right now?
You can often find a truck for around $20,000 - $25,000 before any negotiations. This includes trucks like the Nissan Frontier, Chevrolet Colorado, GMC Canyon, and Ford Ranger.
Who has the best 0% APR deals on trucks?
Brands like GMC, Chevrolet, Ford, and Nissan consistently put out new 0% APR deals each month on their line of trucks.
Is it a good time to buy a truck?
It’s always important to check the latest deals and to shop around, but late October is typically the best time to buy a truck. Specifically, the best days of the week to buy a truck at a dealership fall between Monday and Wednesday.
Can I purchase a truck for my business?
Yes, you can ask your business accountant to help treat the purchase as a business expense. Or contact a fleet manager if you are interested in more than one truck for your business.
What credit score do you need to qualify for an interest free truck deal?
There is no set minimum credit score to qualify for 0% APR financing on a new truck, but most dealerships typically require a credit score of at least 700. Buyers with a score of 720 – 750 (or higher) have a much better chance.