0% interest - who's really paying for it?

October 12, 2015
Rebecca Crommelin

Low or zero percent interest car finance is always being advertised and many people see this as an appealing way to buy their next vehicle. But don't be fooled, as we all know that you don't get anything for free. 

So then who is paying for you to have a 0% interest car loan? That's right... YOU ARE!

0% interest on your car loan may sound like a great deal, but if you take the time to look a little more closely - you may find that it is not such a great deal after all.

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At Mortgage Choice in Blackwood, we have taken the time to look closely at these 0% interest car finance deals, and here's why these deals aren't what they seem:

  • 0% interest finance deals are a type of subvention agreement - so the cost of finance is already included into the car sales price
  • This means you have much less opportunity to negotiate on the price of your vehicle
  • You could end up paying more for your vehicle than if you were to buy without dealer finance

So you see, you don't get anything for free - especially not low or zero interest car finance deals. 

Watch our latest video as we reveal the truth about 0% interest car finance...

As your Mortgage Choice in Blackwood broker, I have access to a panel of 25 lenders and can help guide you through the most competitively priced car finance deals. I can even help you secure pre-approved finance for your new vehicle. 

Give me a call today on (08) 8178 0700 to secure a great deal on your next car purchase.

 

Charlotte Gray, Loans Consultant

charlotte.gray@mortgagechoice.com.au

Click here to see how else I can help you

Watch my latest home loan video tips and updates here

 

Posted in: Car loans & leasing

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