What are the benefits of 0% APR Finance?
0% interest finance deals comes with many different benefits but the main advantage of going for this offer is, you can save yourself significant amount of cash long term due to the no interest. Interest repayments can add thousands of pounds onto a finance deal over a usual 3 to 5 year deal across new and used cars.
- No Interest or additional fees added to the finance.
- The amount you pay is the cost of your chosen vehicle only and not the interest as well.
- Your monthly payments could be lower compared to a standard APR offer on identical finance deals.
- Usually the credit rating criteria is the same for 0% APR Finance and standard APR finance.
What are the disadvantages of 0% APR Finance?
0% APR finance deals can be very hard to find these days which means when they come up, you need to jump on them. Due to this, 0% finance deals can only be on selected models across a manufacturers range.
- You might not be able to spread the cost over a longer period eg: only 3 years instead of 5 years.
- Some may have minimum deposit requirements, unlike standard APR offers, which can be as little as one monthly payment or a little bit extra.
- May only be offered on selected models across the manufacturers range.
Finance deals are always subject to credit history and it is important that you know you’re able to keep up with the monthly payments before committing to any finance agreement. Our team can walk you through each step of the process.