0% Car Finance?

It might be tempting to agree to the finance options that are offered by the dealer or get roped into the “0% car finance” spiel. The truth is that even though you might be getting a 0% car finance deal, there will be higher fees and charges hidden behind the 0% interest rate or conditions that might end up costing you more over the course of the loan.

In order to offer this finance option, dealers may be unwilling to further negotiate the cost of the car, or invest in upselling premium products to add to the sale total. Some may need you to have the car regularly services by them, where their fees for service might be greater than what you would be able to get elsewhere.

The best thing to do is to read the fine print, seek advice from a third party or do your own research beforehand to make sure that you’re actually getting what you think you are. A broker can help you crunch the numbers and research an array of options that are available to you.