Zero-percent financing turns heads, but may not be best deal

DETROIT (AP) — When a car dealer offers to loan you the money to buy a car at zero interest, it gets your attention. Yet that cheap money might not be the best deal you can get.

Dealers can offer zero-percent financing through automakers' finance companies because, unlike banks, they make money on the sale of the car and don't need to rake in interest payments. Zero-percent financing offers have been common in the last four years as auto sales recovered from the recession while interest rates remained low, says Philip Reed, a senior editor of consumer advice at the car shopping site Edmunds.com.

Not everyone will qualify. Zero-percent financing is generally reserved for those with the very best credit.