Should You Choose a Zero Percent APR Loan on a New Vehicle?

Brendan McDermid/Reuters

Borrowing money for nothing sounds like a good deal. Zero percent financing on a new vehicle allows you to borrow money without paying interest or bank fees.

But is this a good deal, or is there a catch? What are the advantages and disadvantages?

Zero Percent APR Car Loan

Usually, when you take out a vehicle loan, interest is charged on the financing. The interest rate is dependent on your credit score, term, type of vehicle, and loan amount.