0% Car Finance
This refers to car loans provided at 0% APR, meaning you pay no interest on the amount of money borrowed. An increasing number of captive (manufacturer-linked) and independent car finance providers are now offering 0% deals, but many are not that straight forward.
It is difficult to find an outright 0% car finance deal. Many of these loans are provided on the condition that you pay a certain amount towards the cost of the car, for example, 50% of the overall price. Once you have put down this money, you can then get a loan to cover the remainder of the price at 0% interest.
Many of these deals allow borrowers to buy their car by paying monthly instalments over periods ranging from 12 months to four years or thereabouts. And seeing as the sum borrowed is not attracting any interest, it doesn't really matter how long it takes to repay it, although it is always good practice to clear any debt in the shortest time possible.
