It is no longer necessary to ruin yourself to buy a new car. With fierce competition in the world of auto sales, all dealerships and brands offer really beneficial offers and aids for buyers.
It’s a way to boost sales and get rid of end-of-series quickly. One of these offers is called “zero rate credit”. It is an offer that is dreaming but which still has some conditions. It is not necessarily suitable for all budgets and financial situations.
Zero-rate credit: an effective selling point
Today yes it is possible to subscribe to a credit at zero rate to buy a new car. At no additional cost, this offer continues to attract more drivers. With commercial competition among dealers, zero-rated credit has almost become a standard in most vehicle purchase contexts.
And this is not a simple advertising poster, the zero rate is very real. It must be taken directly from the dealer or the brand that sells the vehicle. Framed by French law, this offer is strictly regulated by law. For example, it is forbidden to sell cars at a loss.
In fact, the interest that the buyer does not pay is borne by the seller, the brand or the concession.
The terms of the zero interest loan
If on paper the offer is dreaming, there are still some conditions. For starters, it is generally required to provide at least 15% of the amount borrowed. The repayment period is limited to a maximum of two years.
In some cases, this limit is restricted to one year depending on the dealer. The monthly payments will therefore be quite high since spread over a very short time. It must take into account in its monthly budget this constraint not to find financially blocked. This credit is not necessarily suitable for all people and all budgets.
Credits with a relatively low rate and over a longer period may be more suited to your financial situation. It may also be requested additional fees for file processing, negotiation or insurance borrower.
Who can benefit ?
With zero rate auto credit, there are no resource or profile requirements. Everyone can benefit from this provided they buy a new car. To take advantage of this, simply ask the dealer for models that are affected by the offer.
Once the choice is made, the person must simply provide a proof of address, a certificate of income, the last tax notice and the last three pay slips.
How to avoid scams?
For starters, it is strongly recommended to look at the offers of several dealers to get a better idea of the walk. It is important to learn about the car models that can benefit from the offer to avoid surprises.
In general, the cars concerned are discontinued and must be quickly liquidated. To boost the sale of ecological models, dealers and brands offer the same credit on zero emission models.
And this offer is not the only solution to finance his purchase. For young people, there are really great offers, often much better than zero-rated dealer credits. For modest families, CAF offers small loans at zero rates for the purchase of a new car.
Online offer comparators
No need to bother to go to all sites one by one the best credits. our comparator is at your disposal for free. Just enter the preferences and features to see all the offers with their specificities and prices.
Thus, it is possible to negotiate with the various manufacturers and dealers the conditions of the loan. Some comparators may calculate the resale price of a vehicle for sale to deduct it from the credit.
An example of zero interest credit
To give a clear vision on these offers, there is nothing better than the example. Volkswagen has recently made a big marketing campaign on its zero-rate offer over 36 months with a 10% contribution.
For a new Polo of 12,000 USD, the discount will be 12,000 USD minus 2,000 USD (10%), a total of 10,000 USD to repay over 36 months. The buyer must therefore repay 280 USD per month for a year and a half.