How to Buy a Car on 0 Car Finance

Posted on 22 August, 2012

0 car finance is one of the most successful finance options. It is consistently attracting customers to buying their ideal motor, brand new, where other deals pumped with interest have failed. But what are the real pros and cons of purchasing your motor on 0 car finance? What is great enough to cause a rise of over 42 per cent in the number of customers who are choosing to go with car dealer finance?

0 per cent car finance is one of the most cost effective ways of spreading your payments over a longer period of time. If you like to spend your money on the little niceties in life such as meals out and shopping sprees, 0 per cent finance is usually a set repayment around which you can restructure your financial life.

It might sound too good to be true, and there are a few pit falls. Of course, 0 car finance isn’t available to every Tom, Dick and Harry. There is a list of criteria that has to be met, and having a good credit history will really help you out.

0 car finance relies upon having a trusted user base, with clients who will make repayments backed up by their proven, steady, regular income.  Car dealers are willing to risk the loss of interest on repayments, by offering cars at full retail price but on 0 car finance.

Those opting for 0 car finance may also be restricted by the manufacturer to purchase a certain model of car. Choose a manufacturer, such as the MINI, that is relatively flexible with this and, should your car need more personalisation, choose some simple add ons and extras to make it feel more individual.

In responsible hands, 0 car finance is an excellent option for owning your perfect auto without the worry of high APR rates. Read the small print and suss out what is the best finance option for you. It’s a personal decision, which costs nothing to look into.

As long as you can stick to your repayment plan and won’t miss an instalment, 0 car finance might well be the most cost effective option for you.