Where have all the long 0% deals gone?

anotheruser

When I looked 6/12 months ago, there were quite a few 24/28 month deals. Now there seems to be just a handful.

Are they likely to return? 

[Deleted User]

Yes. But perhaps not for a while.

We need to see how current lending and the wider economy performs.

Malkytheheed

Covid 19. 

Now we all have to live within our means. 

sourcrates

Some of us already do 😉

cymruchris

I think it's going to be a while before we see waves of long duration 0 percents - these next few months (years) might prove challenging for many people, and credit card companies will recognise this, and will no doubt be able to increase profitability by not offering these deals to customers with significant balances showing on their credit files. 

SnowTiger

anotheruser said:

When I looked 6/12 months ago, there were quite a few 24/28 month deals. Now there seems to be just a handful.

Are they likely to return? 

IIRC things got a bit tight after the 'financial crises' in 2008, but they bounced back.

I've noticed that some providers are hiding their credit card offerings behind an eligibility checker: Halifax (and other LBG entities) and Virgin for example. 

Dandytf

I read recently, longer duration 0% offerings were becoming a distant memory.
Maybe new rules has an effect, card providers no longer want consumers building up debt over many months.

Malkytheheed

sourcrates said:

Some of us already do 😉

Indeed. My point being no one should "need" a 0% for X months card. 
If you can't afford something. Save until you can.

wiseonesomeofthetime

Anybody else have this come to mind when reading the title? 

https://www.youtube.com/watch?v=bWcASV2sey0

anotheruser

Malkytheheed said:

sourcrates said:

Some of us already do 😉

Indeed. My point being no one should "need" a 0% for X months card. 
If you can't afford something. Save until you can.

But that doesn't work in my circumstance.
Car is slowly breaking. I can afford to pay near on £800 a month but don't particularly have £10,000 of cash to buy a car (although can easily make half that amount in a deposit).
So I either buy a cheapy car that could also go wrong very soon and will also probably cost more in the long run, or look for a credit card deal that allows me to purchase a car now and comfortably pay it off over the next 12 months.
My job is quite safe so no worries there. 

phillw

anotheruser said:
I can afford to pay near on £800 a month but don't particularly have £10,000 of cash to buy a car (although can easily make half that amount in a deposit). 

Cars are heavily depreciating items, paying extra to "save money" in the long run isn't necessarily true.
Unless your current car is completely dead and unable to be repaired then you don't need a new car. Most people use the "I'm not spending more than the car is worth" but that is a fallacy, you should instead think about how the investment into the current car compares to the depreciation on your shiny new car.
If you can spend £200 on a car that is worth £100 that will then last you a year or buy a £10000 car that will lose £1000 in a year, then repairing your car is the moneysaving option.