A car loan at 0% interest … under what conditions?

On the occasion of the Motor Show with its exceptional conditions, the advertisements for car loans flourish at zero percent interest (the term “free loan” may not be used). As it is the intention of the car manufacturers to sell as many cars as possible, it is logical that they do everything in their power to remove any barriers for the customer.

Are there any clauses and / or special conditions that the customer must meet before being able to enjoy this interest rate?


Car loan interest rate

Car loan

Not necessary. If there are no conditions, then these offers are often interesting. Unfortunately, there are sometimes binding conditions. Below you will find an incomplete list of clauses and conditions that Best Finance has identified for you:

  • The 0% APR is often offered in combination with a warranty extension or a prepaid maintenance contract (4 or 5 years or x number of kilometers). However, according to the legislation related to tying, you are not obliged to subscribe to both products, but the car manufacturers have all the benefits of selling this combination in terms of marketing.
  • Sometimes an advance of 30 percent of the purchase price is requested, which of course does not always make it possible to enjoy the offer if you do not have the necessary reserves.
  • Sometimes you not only have to pay an advance, but your last repayment can go up (sometimes in the thousands of euros )
  • The obligation to take out comprehensive insurance
  • Relatively short installments (36 months) to reduce the risk for the financial institution. The result is of course that the monthly amount to be paid is higher for the customer.


Another essential aspect that you should not ignore

car loan

As we have already explained in our guide “Choosing a car loan” – is that with this type of loan you run the risk of missing out on a major discount. Indeed, if you state too quickly that you want a loan, you are probably losing your bargaining margin and you may miss out on an interesting discount. Remember that the interest rates that the banks offer during the motor show are often very interesting, and that you do not have to meet specific conditions. Click here to compare car-free!

The car manufacturers also offer other, more complex formulas (renting, leasing, financial and operational), but these formulas are primarily intended for the professional car park and are therefore difficult to compare.

Make well-considered financial decisions and do not hesitate to ask all your questions to both the constructors and the financial institutions. And above all, don’t forget to compare all financial solutions!

Credit for self-employed & freelancers: information and comparison


It is not always easy for the self-employed: banks are reluctant to grant Loan.

Many entrepreneurs, the self-employed and freelancers are only too familiar with the following scenario: Loan is advertised at low interest rates in bank advertisements. For example, if a tradesman asks the bank for this loan, in many cases it will be rejected. The reason for the non-approval lies in the often fluctuating and uncertain income compared to employees or civil servants.

Direct bank or branch bank?

Direct bank or branch bank?

Anyone who owns a small, regional company (e.g. painter or plumber) usually has regular contact with their house bank. If there is a longstanding business relationship here, the house bank can assess your situation well. A self-employed person should therefore make an initial request to your current bank.

No matter what your bank’s answer is, get a second or third offer from other banks.A difference of a few percentage points can quickly mean savings of several hundred euros. It is essential to compare different Loans.

Second borrower increases opportunities

Second borrower increases opportunities

Is your partner not employed in your own company and may be employed or civil servant at a company? Then you should think about the possibility of joint funding. The security for the bank increases significantly in this constellation and you are more likely to receive a loan approval. Even if your (spouse) partner is also self-employed, a joint loan application can pay off.

Additional collateral such as life insurance, general savings or real estate are advantageous for a positive Philo Vanc decision.

Your bank needs these documents

Your bank needs these documents

Various documents are required so that your credit inquiry can be processed promptly. Some banks require a relatively large amount of evidence. Other banks keep the request as simple as for other private individuals, such as Barclaycard. Depending on the bank and personal situation, the following evidence may be required:

  • Income tax assessment
  • Balance sheets for the past 1 to 3 years
  • Business evaluation
  • Income statement

Please note: Each bank has different requirements, the information is only a rough guide. On the website of the respective provider you can find out which documents are specifically required.

Loan from private individuals as an alternative?

Loan from private individuals as an alternative?

In recent years, another financing option for the self-employed has become established on the Internet. Private money investors and loan seekers meet in so-called credit marketplaces. Anyone who needs a credit introduces himself and his application. Investors can “invest” in your project and receive part of the interest payment as a return.

If the conditions for classic bank offers are too bad or your request has been rejected, credit marketplaces can be an alternative.