Are you looking for a 0% finance deal on your next purchase? How are you going to start your search?
You don’t need to research the nitty-gritty every time you are looking to buy new. You just need to know what to look for – and the rewards are pretty nice.
Sure, you may have the $25,000 you need to buy a car. However, you would still want to spread out the payments over a period. You do not have to spend the whole amount now, and can easily defer the cost over time.
There are two aspects to this, with the same answer.
You get to have better liquidity of cash as you aren’t spending the entire amount at one go. You can also invest the money you have already saved now to earn interest. It’s easy to invest that money to get more returns, instead of just paying all cash.
Even if you don’t have the cash, a real 0% financing option can help you get what you need sooner. You aren’t paying more. You are just deferring the cost.
Whether it be that LASIK surgery you are getting to get rid of those expensive glasses or a bigger car for your growing family, you will still end up saving all of that interest.
Why do companies offer 0% financing
For many businesses, zero percent financing is an effective marketing technique to attract more customers. Businesses absorb the cost while selling off their old inventory and attracting more buyers. It’s one of the easier ways for them to boost sales.
For customers, on the other hand, it’s a great bargain, as they can get what they love, at a price point they can afford. Customers often can stretch their budget a little more too. For instance, you could get that extra car feature by paying a little more. If you are saving the interest every month, you wouldn’t mind paying that $50 add-on, after all. It’s going to help increase the average order value, benefitting both the consumer and the dealer.
Here are a few other reasons how you can benefit from a 0% financing offer.
Take control of your budget
Zero percent financing helps you manage your finances and budgeting. While you would want to pay for that car upfront, you need to consider keeping the money for some rainy-day funds. You wouldn’t want to regret spending all of your savings. Nor will you have to worry about not being able to afford that other important thing you need.
This is why you will like 0% financing – you can keep your savings and get to use the product right away. With the extra cash flow in hand, it’s easier to make monthly payments, while you can also use the extra money for investments. Yes, it’s a steal.
“Use now, pay later.”
Did you delay your dental treatment because of the cost? What if you could pay a little each month to cover the whole payment? This is where you will like a 0% financing deal.
Let’s face it. We have all had our share of disappointments while we saved up for the latest gadget. By the time we did manage to save up, the model was old news. How many times have you saved up for something only for it to become obsolete?
With the zero-percent financing option, you can get started using the product right away – without having to wait. Not only does this fulfil your immediate need for the product, but also cancels out the process of saving up for years. You pay the same amount over time as you would be paying for it today.
Easy application process
Most 0% financing options have a straightforward application process. It’s just simple paperwork, even shorter than a loan application.
Save more cash
Expect more disposable income on your end, as you can weigh down the cost over a period. No matter what your financial position is, we are sure you would like to see the few extra hundred or thousand dollars stay in your savings account longer.
A wide variety of options
We aren’t just talking about saving on your next car purchase. From your laptop to your furniture and even dental care, you can easily receive what you need now, and pay for it later.
No interest rate
The idea of paying through your credit card may seem appealing, but you would have to pay a significant interest rate. Credit card interest rates can run high. With a 0% financing offer, you just spread out the entire payment over a few months or years, without paying any extra money.
The next time, save yourself from the disappointment – go for the zero-percent financing option.
- By Soubhik Chakrabarti