Anytime you're shopping around for a used car, the number zero can be a joy to hear – especially if it refers to your interest rates. But how much do you really know about 0 percent financing? If you're like most people, you've likely heard more rumors and theories than actual truths, and it's important to weed out fact from fiction before jumping into the car-buying process. 

What should I know? 
The first thing you need to know is this: 0 percent financing options are not as popular as they once were. Even if you're lucky enough to find one, that doesn't mean it's applicable to you or even the best overall option. Before you can make that decision, however, you should be aware of the specifics. 

This type of option is only offered to people with excellent credit and is typically used on shorter loans, according to ABC News. In many cases they are regional as well, so even if you qualify, there may not be any of these deals in your area. Finally, you'll rarely find one of these options on a luxury car. They're commonly used for vans and non-luxury vehicles instead. 

Low interest rates
Going with a 0 percent financing option could be a good idea, but it's not always feasible. The next best thing is a deal with a low interest rate. Not only are these options more obtainable for most drivers, but they also offer increased flexibility. You may be able to apply the auto loan for a wide variety of cars or extend the term. 

It's important to remember that even people with bad credit can find financing options that don't break the bank. You never know where you're going to locate the best possible deal, so be sure to be up-front with the car dealership and explore all courses of action. 

What should I do next?
Even if you're unsure about which auto financing deal is a good choice, you can still get a head start on your car shopping. It all begins at New Jersey State Auto Auction. The lot has hundreds of Carfax-certified used cars, trucks and SUVs you can browse through. Once you find the right one, the in-house financing team can step in and help you navigate the processes to land the perfect deal.