Cheapest finance for new car

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We need to trade up our car and also have to buy a second car (we've held out for 7yrs but it's finally necessary). For the first time, we will not have the cash to make the purchase outright so we will need finance. Just wondering what is the best value finance available right now. I recall there being a time when new car purchases were nearly 0% interest. Presume that's gone now? Thanks
 
Newbie! said:
I recall there being a time when new car purchases were nearly 0% interest. Presume that's gone now?
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Yes, those days are gone. APR on HP / PCP is typically from 6.9% upwards, but the brands might offer a lower rate on specific models from time to time (New cars).
Be careful with these, if you want to repay in full early, there a lack of transparency around how the interest is calculated.

Edit: Citroën provide finance at 3.65%, Kia 3.9% and Opel 4.65% APR currently, so not all as high as I thought

Personally, I'd be looking at a personal loan from Avant money. The interest rate is fixed, but there's no penalty for repaying early. When borrowing over 20k, I'm pretty sure they've the best rate in the market at the moment.
Personal loan gives flexibility of buying 2nd hand cars.

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with the chip shortage now a thing of the past and raw materials back to more normal prices and the dollar finally weakening, I suspect you will see price offers and low interest rate deals coming back soon. It has started in the UK and will come here soon enough https://www.autocar.co.uk/car-news/...-car-savings-grow-discounting-culture-returns

For a 2nd car I'd be looking at a car 5 or so years old and wait another 2-3 years when new battery technology giving 800km+ range becomes the norm rather than buying new now
 
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