0 dep AND 0% FINANCE OVER 5 YEARS

tali

http://www.thecarbank.co.uk/ are offering 0 dep AND 0% FINANCE OVER 5 YEARS but they aren't making it clear is the car yours after 5 years? or do you have to make a final payment? as there appears to be i no total payable smallprint listed .(I assume that there is no final payment and the car is yours after 5 years)
it seems to good to be true so wondering if there is a catch especially as they have conspicously omitted the total payable smallprint

Troubleatmill_2

Well - the used cars are really expensive...

for instance a "W" plate Ford Focus is a staggering £4375!!!


A brand new Focus ST from Ford is £17995.

They are selling an 06 model for £19975



Trade Sales 1.8LX 2006 Mondeo = £7995 http://www.trade-sales.co.uk/search.asp?cmboManuf=Ford&cmboModel=Mondeo&cmboMinPrice=null&cmboMaxPrice=null
Their 1.8LX 2006 Mondeo = £9775 http://www.thecarbank.co.uk/search_results_final.asp?sid=1046663&t=Used




This should give you the answer.....

The finance looks cheaper because the cars are extremely overpriced...



Best
Troubleatmill

plane_boy2000

A friend of mine just managed to get a car with 5 years 0%. He bought from a broker, but cant remember the name. The deal they offered was you paid list price for the car (all brand new) and they gave 5 years 0%. He got a new Clio and is happy.

suffolkb

I bought a Fiat Seicento sporting from D.C.Cook in Doncaster for list price and 5yrs interest-free credit with a £99 deposit. 7 years ago, so no idea if they have any similar offers. Or even if they still exist.

MORPH3US

Carcraft are also doing 5 years 0% with £99 deposit... not sure if carcraft are any good but sounds a good offer!

M

DavidHM

Most of these deals where you pay no interest but get no discount work out as expensive or more so than conventional finance - with the difference being that even if you pay it off early, you pay all the "interest."

Unless you can't pay interest for religious reasons, my advice is not to bother.

Carcraft is particularly bad - you can only get interest free on about £4k, their cars are woefully overpriced and you probably won't qualify for the rate anyway.

peterg1965

There is also a company that offers brand new cars at 0% finance over 5 years and no deposit. It is http://www.interestfree4cars.co.uk
If you use this scheme buy sensibly because the catch will be no discounts. Therefore dont buy a brand new Mondeo or Focus, becuase you can get HUGE discounts from other places which cancel out the benefits of the 0%.

evanslee

peterg1965 wrote: »

There is also a company that offers brand new cars at 0% finance over 5 years and no deposit. It is http://www.interestfree4cars.co.uk
If you use this scheme buy sensibly because the catch will be no discounts. Therefore dont buy a brand new Mondeo or Focus, becuase you can get HUGE discounts from other places which cancel out the benefits of the 0%.

http://www.interestfree4cars.co.uk
and
http://www.thecarbank.co.uk

not only have the same domain name registra, but also show the same cars when you search at either website... so it looks like the same company, so why two completely different sites?

has anyone bought from these sites? some of the prices do look too good to be true.

Pew_Pew_Pew_Lasers!

Too good to be true?

http://www.interestfree4cars.co.uk/deals/12544_used_fiat_grande%20punto%20hatchback_1.2%20active%203dr.htm

£5000 anywhere else.

There is no such thing as interest free credit.

AdrianHi

Interest free credit tends to get offered on cars which are depreciation nightmares.
That Clio someone mentioned is a case in point. The appalling 33% residual will make the interest free credit savings null and void twice over compared to buying a Skoda Fabia with a 50% 3 year residual.

At a glance at the lease prices the Clio looks like it's just like the Corsa, about 20% cheaper in the long run if you just lease it and not buy it at all regardless of 0% finance deals.

daveyjp

"not sure if carcraft are any good"

Check out BBC Wathcdog for an insight into this company - or Google "Carcraft problems".