Don’t be fooled by 0% Car Loans

We’ve all heard of companies offering 0% finance deals on new cars. Too good to be true right? Basically, yeah.

Manufacturers often promote these deals to hook people in, but if they are giving you in interest free deal, it’s because they are getting the money off you elsewhere. Often it means no discount on the purchase price, meaning you’re paying a lot more up front. It can also be through trade in value, reduced loan flexibility or restricted balloon payments. They might think they have us fooled, but we aren’t that easy!

We’re not saying you absolutely shouldn’t consider a 0% finance deal, we just like you, and want you to go in with your eyes open. Here’s our tips for getting the best deal possible:

  • Do a bit of research and homework on your current cars value if you’re looking to trade it in.
  • Use an online calculator (here, you can borrow mine) to get an idea of possible repayments, as well as current comparison rates, so you know what you might be in for.
  • Spend a little time getting quotes online from finance brokers (*cough* like My Finance Broker) so you know what other offers you could get.

At least if you do these few things, you can take a 0% finance offer knowing you’ve covered your… bases, and that it will work for you.

If you want any more information on this (or just a chat), get in touch with our team though our online enquiry form.


Be Wise. Get your Loan or Finance Pre-Approved.

Getting pre-approved finance is as good as gold. Shop around and find your perfect toy knowing you have the money ready to go.

Once we assess your application, we’ll let you know how much you can borrow and what your potential repayments will be. Your approval will be valid for 31 days, after which you can extend provided your financial situation is unchanged.

Not only does pre-approval increase your standing as a buyer, it means you can settle faster and also gives you an edge in the negotiation as seller risk is minimized.

At My Finance Broker, we offer pre-approval at no cost. So you can get pre-approval, and if you don’t buy anything, there’s no cost to you at all. We’re nice like that.

Just want an idea of what your repayments will be? Have a go at our Finance Calculator, or send us an enquiry and one of our consultants will be in touch to answer any questions you might have.

Be a smart cookie. Get your finance pre-approved.

Go to top