The truth about 0% interest car finance

August 26, 2015
Bob Korver

The deal may not be as good as it sounds.

Don’t accept the finance solution available at your car dealership before looking at all your options!

At Mortgage Choice, we know how important it is to get a great deal on car finance. That’s why we want you to know exactly what’s involved with 0% interest finance – it could see you paying a lot more for your car than necessary.

Stop. Check out what’s involved first.

A 0% interest finance deal can sound great. That’s why car dealers use them to get buyers through the door. But scratch the surface, and the deal may not be so generous after all.

That’s because 0% interest finance deals are a type of ‘subvention agreement’. It means the cost of finance is already loaded into the car’s sale price. This gives you much less opportunity to negotiate on price.

In fact, you could end up paying a lot more for your car than if you buy without dealer finance.

We want to see you secure the vehicle finance that suits your needs, and your Mortgage Choice broker has access to a range of lenders who provide competitively priced vehicle finance. We can even help you secure pre-approved finance, so you can focus on finding the vehicle that’s right for you knowing just how much you can afford to spend. It can also be a useful tool to negotiate on price no matter whether you are purchasing through a registered dealer or private sale.

For expert help securing a great deal on your next car purchase, talk to us today.

Posted in: Car loans & leasing

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