Zero-rate loans are often synonymous with opacity and fear, because it is difficult to identify oneself among the multitude of offers on the market. What information to decrypt and the parameters to take into account to borrow at zero interest rate with confidence? We tell you everything.
Imagine, it’s the auto show period. You are planning to buy a car, so you are looking more closely at the possible alternatives for making this purchase. Among the selling points, you notice that some dealers offer a loan at zero rate to finance the purchase of your car. The same applies when a large brand offers you zero-rate credit for the purchase of a household appliance or a television. Too good to be true? Not necessarily.
Zero rate: what does it mean in practice?
Opting for a zero-rate loan with confidence and enjoying all the advantages it entails is possible provided you are vigilant and ensure the total transparency of the offer.
Above all, it is a matter of maintaining your critical sense: whoever offers you a zero rate, analyze the entire offer. It is worth taking out your calculator to compare your advantage in one case or the other.
Here are the criteria to watch out for.
Cash purchase, zero-rate credit or conventional loan: what are the differences in terms of figures and advantages?
Here are the criteria to be aware of before making your decision:
- The repayment deadline: the deadline is often longer for a conventional loan. Remember to analyze the conditions of this schedule and the related clauses in the event of potential inability to reimburse.
- The amount of monthly payments to be paid.
- The possible obligation to pay a deposit.
- The general conditions: remember to read all this fairly technical information in detail and with a relaxed head. Do not hesitate to have them explained to you in case of doubt or misunderstanding.
The comparisons made, it’s up to you to see what you need most now: an additional benefit or a spread payment? A zero rate or a longer repayment term?
An advantage like any other
In the end, zero-rate credit is just another advantage like any other, just as a sign will one day offer you ‘free’ VAT and another day, home delivery.
Take advantage of a zero-rate loan with confidence and security, it is entirely possible provided that all the procedures and related clauses are perfectly explicit and measurable. In short, understand everything to make the best decisions!