Negotiating 0% finance on a new car

BarryPseudonym

Is this even possible? Or do those sort of offers come direct from the manufacturer or loan company, and therefore the dealer has no control over when to offer it?

colino

More often than not these deals are packages from the manfacturer and if it's not advertised it will not be "doable"!
Many large dealerships will have in-house finance companies, but if they offer "0% finance" you know for sure that will be balanced out by offering the highest screen price and the lowest trade-in.

BarryPseudonym

Yeah, I guessed as much, though was hoping to hear a story of someone that's managed it, and therefore give me the balls to push them as far as possible. The price is already ridiculously good, so I wasn't hopeful in any case. As a Yorkshireman, I'm just allergic to parting with so much cash in one go...

worried_jim

No such thing as "free".

motorguy

worried_jim wrote: »

No such thing as "free".

True.

0% finance deals are usually financed by the manufacturer and is usually a way of propping up an otherwise weak car in the marketplace to gain market share.

Its effectively discounting by the back door - they dont have to knock thousands off the list price to sell the cars and it helps protect the residuals a bit too

BarryPseudonym

As expected, they said no...but it was at least taken to the sales manager rather than laughed at outright.

Still, if I decide to go with it anyway, there's always the option of a 0% credit card or something.

YorkshireBoy

BarryPseudonym wrote: »

Still, if I decide to go with it anyway, there's always the option of a 0% credit card or something.

Dealers are unlikely to take a credit card for much more than the deposit. Even if they do, then you'll face a 2-3% fee. And if they waive it, ie absorb the merchant fee themselves, then you didn't haggle hard enough because there was another 2-3% to be had off the price.

If you want to go the 0% interest route then consider a card from MBNA, which will pay 0% cash into your current account for 20 months for a 4% fee. Then just (try to) keep this on 0% by BTing until repaid.