Saving money throughout the term of your financing
0 Percent Car Financing
0% car financing is when you can purchase a car and make monthly payments on it without having to pay any interest. As you can imagine, it is a tempting offer that seems too good to be true. Unfortunately, it usually is. There are many pitfalls to 0% financing that you should be made aware. Let's take a look at a few of them.
0% car financing, what is it?
This is where you'll see the dealership offer 0% financing or up to a $10,000 cash back offer. When you crunch the numbers, it turns out that the cash back offer normally saves you money. As of today, Ford.ca offers a 0% financing deal or $7,000 in price adjustments.
0% Financing for Used Cars
Because you are not paying interest, the dealerships will give you a shorter repayment period of somewhere between 36 and 48 months. This means that you'll have much higher monthly payments than you otherwise would with a 60 month loan. If you bought a pre-owned vehicle with a 6.95% loan, you would actually end up paying less for your vehicle than with 0% financing plan.
Auto Financing London Ontario
The most important thing to remember is that, in the end, it comes down to what you can afford to pay per month. Most people will not be able to afford a 0% financing deal and so must opt for a loan. This isn't a bad thing and shouldn't be discouraged. Regardless, 0% financing is a fading trend and may not be around in five more years.
In the end, your best option is to first Apply for a Loan using our Online Car Loan Application to get approved quickly. Now you know in advance exactly how much you can afford to pay and what type of car you want to purchase Car Loan Application
Why Choose Us
The team at Southdale Motors provides quality, caring customer service to help you the consumer feel comfortable through the process of purchasing a car.
- We Will Take Care Of Everything In One Place
- We Have Large Selection of Cars
- We Have Easy Auto Finance Facilities
- We Have Vehicle Service & Maintenance
We treats every person who comes to Southdale Motors like family. Southdale Motors is a car dealership second, and a customer service business first!
At Southdale Motors we place a great deal of importance on establishing or re-establishing your credit histories and help with bad credit loans. Southdale Motors will take care of everything in one place, in one easy step and we make it easier to make it yours. Get approved now!