Best 0% APR finance new car deals of 2023
Here are the 0% finance offers available to you from car manufacturers through carwow.
All finance offers and monthly payments shown are subject to application and status. This should be discussed with the dealer directly. While carwow uses reasonable efforts to ensure accuracy all information and details must be confirmed when enquiring. carwow makes no representations, warranties or guarantees, whether express or implied, that this information is accurate, complete or up to date. carwow will not accept liability for the information provided
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What is 0% car finance?
A 0% car finance deal operates much like any loan – you borrow money from a financial institution which you agree to pay back over a set period of time. Whereas most contracts of this type will charge interest for borrowing the money, zero per cent deals don’t cost you an extra penny – effectively you’re spreading out the original cost of the car into more manageable chunks.
Depending on the car you’re looking for, these 0% deals will be applied to either a Hire Purchase or Personal Contract Purchase agreement. The option you pick will depend on what kind of ownership you want.
0% finance deals are typically offered by a manufacturer for a new car - it tends not to be offered on used cars or by smaller dealers. Whilst these types of deals used to be relatively common for new cars, supply chain shortages and global price rises mean it is now increasingly tricky to find a manufacturer offering interest free financing - although some offers are still available.
What are the pros and cons of 0% car finance?
Interest repayments generally add several thousand pounds over a typical three to five-year finance contract for a new car. The main advantage of a 0% finance offer therefore is that you will save yourself a significant amount of cash if you can find one.
In terms of disadvantages, finding a 0% finance offer can be very difficult these days, as car manufacturers don’t tend to offer them anything like as frequently as they used to. Moreover, 0% finance deals tend to be offered only on very specific terms, often applying only to cars with certain engines or trim levels, or when a specific deposit (typically a high one) is put down by the customer.
Many deals will be subject to your credit history and it’s worth making absolutely sure you’re able to keep up with the monthly payments before committing to any agreement.
How to get 0% car finance through carwow
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0% APR car finance deals FAQs
Car manufacturers like to entice buyers away from rivals’ products with discounts on specific models – or indeed sometimes the entire range. Much like a free insurance deal, free optional extras or a simple cash discount, a zero per cent deal is just another way to do this.
There are some cars currently available with 0% deals – from tiny city cars to large SUVs. It’s worth bearing in mind that the offer won’t always be available on every single model in the range – often the offers are limited to specific trim levels or engines – so it makes sense to check out whether the discounted cars match your needs. All carwow dealers will be able to explain to you how to take advantage of these deals.
Yes - a free loan is about as good a deal as it’s possible to get where finance agreements are concerned, with 0% interest rates generally saving you thousands of pounds over the course of a car finance deal, which might run for three to five years.
carwow empowers car buyers by making manufacturer-approved dealers come to you with their best deals. This means you can compare upfront prices from several dealers side by side, on as many cars as you like and in your own time.
Dealers can’t contact you, all offers are submitted through carwow so there’s no hassle from them. You can get in touch with dealers at anytime by messaging, calling or visiting them in person at the showroom.
If you choose to buy a car, you’ll do it directly from them.
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