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Old 4th July 2013, 11:30   #1
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Default Cars with "Zero Percent" Interest Rates

Hi All,

Since my religion does not allow to Give/Take Interest, i am forced to look out for Zero percent Interest on cars, to own a new one. My past experiences with used cars does not allow me to buy a similar one. Hence i would love to know if any of you come across such news.

I know recently Vento was offered in Zero percent interest. I am looking for a hatchback within a budget of 6 lakhs.

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Old 4th July 2013, 12:29   #2
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Default re: Cars with "Zero Percent" Interest Rates

Some banks do give '0' percent loans when you pay a hefty down payment and promise to close the 'loan' within 11 to 12 months. Some dealers also have their own schemes, I was aware of something like that from Toyota some time ago. I have seen some tenures of 15 months or so.
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Old 4th July 2013, 12:51   #3
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Default re: Cars with "Zero Percent" Interest Rates

OP - The polo is also available with the 0% offer IIRC and should come around your mentioned budget. You've mentioned about past experience with used cars, were these bought on a 0% interest loan?
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Old 4th July 2013, 13:06   #4
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Default Re: Cars with "Zero Percent" Interest Rates

Hi Abdul,

If you don't want to restrict your choices, you should consider Leasing (ARTICLE: Lease OR Loan? Which EMI is better for you). No interest, cost works out to about the same as a loan (cheaper if you're a businessman) and every leasing company will give you a buyback option at the end of the lease tenure.
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Old 4th July 2013, 13:27   #5
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Default Re: Cars with "Zero Percent" Interest Rates

Hi Abdul, I purchased a Rapid recently and instead of availing the discount of ~70k being offered at that time, asked them to work out a 3 year 0% interest loan instead.

Obviously, considering a Fabia (which is in your budget) is not a good idea now since it is being discontinued but perhaps you could ask other dealers to put out a similar deal on heavily discounted models (vista 90 for e.g.)

EDIT - this worked out because I was availing the loan from VW finance and not some bank.

Last edited by ashw_r : 4th July 2013 at 13:31.
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Old 5th July 2013, 10:11   #6
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Default Re: Cars with "Zero Percent" Interest Rates

Hi GTO, I am open for leasing. I still own a Leased Toyota Sienna in the US. Let me check out the thread and update if anything turns out fruitful.

Thanks for the pointer.

Last edited by AbdulRahmanM : 5th July 2013 at 10:15.
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Old 25th October 2017, 14:42   #7
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Default Re: Cars with "Zero Percent" Interest Rates

Quote:
Originally Posted by AbdulRahmanM View Post
Hi GTO, I am open for leasing. I still own a Leased Toyota Sienna in the US. Let me check out the thread and update if anything turns out fruitful.

Thanks for the pointer.
Hi Abdul,

Did you get anything similar to it, in India?

I am in same dilemma and I would go for used car of-course (without interest) in-case of no choice.
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Old 25th October 2017, 22:24   #8
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Default Re: Cars with "Zero Percent" Interest Rates

I didnt get any offers like that still
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