Best 0% APR + Low Interest Finance Deals on Trucks Right Now (2024)

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 findingsomething within your budget.