September 2, 2008

Car Makers offering loans

The so-called credit crunch is taking its toll on the carmakers, as people find it more difficult to get financing for a new car. Therefore, the shiny new cars are left sitting in the showrooms, causing the carmakers to rethink their sales strategies.

One way some of these carmakers is the interest free loan, incredible, as it may seem some brands are available with this type of financing, the carmakers have nothing to lose as they would either have to look at a car sitting their doing nothing, or sell the car and make no money on the finance deal.

One such maker is Hyundai, they offer nought per cent interest loans on their i30 hatchback car, but the buyer still needs to have a twenty per cent deposit. However, it is worth ready the small print on these deals as there can be some severe penalties for defaulters.

Source [Which 4U]