Looking for 0% deal - new car

HildaM

Wonder if anyone could help - I am looking to buy a new car in the next few months. I would like to use my current car as a deposit (probably worth about £6,000) and pay the remainder (probably another £6 - 7,000) over the next 3 years. Obviously I would like to pay as little interest as possible - 0% would be ideal.
However, when I search for 0% finance deals, I keep getting results for the sort of deal where you pay off a lump sum at the end, which I don't want.
Does anyone have an idea of how I can look for the best deal purchasing it the way I want. Is it called something like 'standard HP' or what?

Thanks.

motorguy

From memory Vauxhall are currently doing a 0% deal over five years with a variable deposit.

Do bear in mind though that 0% deals have to be paid for somehow and usually by the customer not getting discount they would otherwise be able to negotiate.

There was a guy on here a while ago who considered himself a "canny buyer" as he'd got 0% finance with 50% deposit on a new 308 Peugeot - turns out he paid full list price of £24,000 for the car so any saving through finance was blown away through no discount. :eek:

motorguy

I would also add you may well get a much better deal if you buy at nearly new with a low rate of standard interest than 0% on new, so bear that in mind too.

HildaM

Thanks very much for that. I'm ashamed to admit this on a money saving site, but I am hopelessly embarrassed by haggling for discounts and I'm sure I always pay over the odds for things. How pathetic is that?

Funnily enough, as soon as Googled Vauxhall 0%, it also threw up Peugeot 0% HP deals. A choice, no less.

New car smell coming my way soon. :T

Yolina

I think Toyota are currently doing 0% on some models/trims too

oliverr

Toyota have 0% on certain Aygo, Yaris, Auris, Iq and Verso models.

cajef

Honda also have 0% deals on a range of vehicles.

http://www.honda.co.uk/cars/offers/

motorguy

As i said, just watch what level of discount you're getting along with these deals.

For example - and purely as an example - Peugeots website is offering a new 308 1.4 with 0% finance and an on the road price of £13410, yet heres one with just 639 miles for £8,800.

http://www.autotrader.co.uk/classified/advert/201308228429843/sort/default/usedcars/maximum-age/up_to_1_year_old/fuel-type/petrol/model/308/make/peugeot/onesearchad/used/onesearchad/nearlynew/onesearchad/new/radius/1500/page/1/postcode/bt622hb/advert-type/standard-listing?logcode=ucnnp

Or a 2013 one with 1800 miles for £9995.

http://www.autotrader.co.uk/classified/advert/201307057671353/sort/default/usedcars/maximum-age/up_to_1_year_old/fuel-type/petrol/model/308/make/peugeot/onesearchad/used/onesearchad/nearlynew/onesearchad/new/radius/1500/page/1/postcode/bt622hb/advert-type/standard-listing?logcode=ucnnp

You'll make similar savings across Vauxhall, Renault, Peugeot, Honda, Toyota etc, so make sure you're getting a decent discount off a new car as well as 0% finance not instead of.

HildaM

Okay, I'll out myself here. This will be my 5th new car. I have ALWAYS paid the list price.

It has never occurred to me to do anything else - that is the price they say it costs - that is what I've paid.

(Let's not even start on the price I paid for a new house this year. There is a REASON I joined MSE, you know!)

OddballJamie

You should choose a car based on the actual car rather than what finance deal the manufacturer is running.

HildaM

Meh, it won't be anything exciting - Fiesta, Polo, Corsa, Jazz - that sort of thing. They are all much of a muchness and as long as I have aircon, MP3 input and cheap road tax I'm not bothered.

(Jeremy Clarkson is now spinning in his grave)