0% interest rate. Is it real?

Zero doesn’t mean zero – especially when it comes to car and commercial vehicle finance.

Large franchise dealers often advertise zero interest rates when selling new cars but these always come with a catch. Opting for “zero”, “no” or “gimmick – below market rate” interest loans can end up costing you and your business more.

To start off with, you won’t be able to negotiate a lower price on the vehicle you want to buy. They often use these finance gimmicks to sell off old stock so you won’t even get the latest and best model that they have just got into the showroom.

Every “zero” percent finance package comes with higher fees; even for paying off the loan early.  The repayments might seem low, but read the fine print first. The repayments are kept low by opting for a large balloon payment at the end of the loan term. Finding your own finance and haggling with a dealer can save you thousands of dollars.