Is 0% financing really free money?
True 0% financing can mean no interest during the promotional period, but “no interest if paid in full” may be deferred interest with very different consequences.
What you need to know
A real 0% APR promotion can be interest-free during the stated period. If a balance remains when the promotion ends, interest generally starts on the remaining balance from that point forward. But “no interest if paid in full in 12 months” is often deferred interest. Miss the payoff deadline and interest that accrued during the promotional period can be added retroactively. Minimum payments may not be enough to clear the balance before the deadline. Read the exact wording, know the post-promo APR, and calculate the payment needed to finish on time.
No promo-period interest; post-promo interest applies to remaining balance
Retroactive interest may be charged if not paid in full
Often not enough to finish by the promotional deadline