When I'm applying for a chase credit card it has 0% Intro APR for 15 months. This is my first time for applying a credit card. And I just started a few months ago started working so I have a proof of income. Can I use that 0% APR for getting a car loan? Or is there any option buying car without interest rate in the USA?
Many car dealers have zero percent interest deals at various times of the year. Generally these are only available to customers that have excellent credit and are generally shorter term. Less qualified buyers can get loans with higher rates and longer periods.
These 0% dealer loans tend to be for 2 or 3 years not the 5 years loans many consumers want. Therefore the monthly payments are large. Almost always the better deal, i.e. lower monthly payments, is to take to rebate from a dealer, and go to a regular bank or credit union for the loan. When comparing a loan for the same number of months the biggest driver of the monthly payment is the loan amount, not the interest rate
The biggest hurdles to paying for a car via a credit card is having enough of a credit limit, and convincing the dealer to accept the card. Many won't accept a credit card for the entire purchase.
Keep in mind that many credit cards only have the introductory 0% rates for a limited period of time. It is also easy to mess up the payment, and have the rate reset to 18-24 percent. If the short payment period of the teaser rate runs out, you will have to find another card that will allow a balance transfer to their teaser rate program.
Most dealers would not allow you to buy a car on credit card as typically the merchants pay close to 4% as the transaction charges. So if you swipe a Card for $100, the merchant typically gets only $96. While this maybe OK for transactions in retail where profit margins in percentage terms on products are huge, it will not be practial on car as the margins in percentage terms of less.
Certain dealers instead of reducing the price [or giving discount] of the car maybe open to give you a loan with supposedly zero percentage, you would need to talk to few dealers to find out.