Whether you’re browsing for a new car at a local dealership, broker or car ‘supermarket’, it’s likely that you’ll be offered a finance package to help you pay. As well as encouraging you to spend, it also provides big profits for the motor trade, with everything from hire purchase to a personal contract plan and personal loan to choose from. Before you sign on the dotted line however, take time to do your research to ensure you pick the best plan.
0% FINANCE
This is commonly advertised but what does it mean?
• You’ll often find 0% finance deals on an outdated or slow-selling model.
• If you’re happy with the car on offer, this can provide a much more affordable way of buying, as there is no interest charged on the monthly repayment.
• You’ll usually be asked for a larger deposit though and there won’t be any extra discounts.