Can you really get a car loan for 0% finance?

April 19, 2013
Joanne Croft

Many car dealerships are now offering what they call 0% car finance deals.

You may be thinking “How can it be possible to purchase a car at such a low rate?”

The truth is that there is no such thing as a free lunch. The term for this low interest rate is known as a 'subvention agreement'. This is a marketing tool developed by car dealerships, and is used to get you into the dealership and make you feel that you can afford a more expensive car. Under a subvention agreement, you may not be paying interest on the loan, however the car price is loaded so you actually end up paying more upfront than if you were buying the car without dealer finance.

For an honest opinion we can provide you with the exact figures. Yes thats right Mortgage Choice do Car Finance! We can provide you with a no obligation, no cost to you, pre approval so you can go out & feel confident that you already have finance.

Posted in: Car loans & leasing

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