Dispelling Top 3 Pesky Myths About 0% Finance

By Pye Motors

With over 90 years’ experience in the motoring industry, you can be safe in the knowledge that by choosing Pye Motors, you’re in safe hands when it comes to all things cars.

Throughout our years of experience, we’ve heard many myths surrounding car sales, servicing and in particular - 0% finance. This is something we’ve discovered a number of people are unsure about, and are perhaps wary because they’re concerned it’s ‘ too good to be true’ and therefore must be a scam.

At Pye, we pride ourselves on being a family-run business, with over 140 local employees across three branches, and a level of customer care that is normally associated with smaller businesses. That’s why we want to dispel the top 3 common myths when it comes to 0% finance.

1. “I’m going to be pressured into signing a finance agreement that I’m unsure about”
Our customers are at the core of everything we do at Pye Motors, which is why we strive to always offer the very best in customer service. This means we would never put undue pressure on a customer with the aim of roping them into a contract they are unsure about. We would urge them that if they don’t understand the terms of the contract for 0% finance, to take the contract away, think about it and make sure they fully understand it before signing.

2. “The rate might seem great at first, but then it might change and I won’t be able to afford it”
This is something our friendly team of staff can help explain. All 0% finance offers can differ, and if the rate is fixed then that means it won’t change, otherwise it might be an introductory rate where the payments could go up at a later date. If they do, it is important to find out (in cash terms) the total amount of interest you will pay when the 0% rate ends.

3. “I’ve heard you can pay huge penalties if you miss a payment”
Of course we’ve all heard horror stories about people having bad experiences when it comes to finance schemes. A responsible car dealer will be transparent about the agreement, and whether there are penalty fees in place if you miss a payment. It’s important to establish the exact terms of the agreement, and that you’re fully aware of when the first and last payments are made.

If you would like to discuss the options of 0% finance further, please don’t hesitate to get in touch with our friendly team who would be happy to go through the finer details with you.

Want to talk?

  • Pye Motors Morecambe 01524 598598
  • Pye Motors Kendal 01539 816800
  • Pye Motors Barrow 01229 842323
  • Pye Hire 01524 598641
  • Accident? Repair Centre 01524 847962

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Pye Motors Ltd subscribes to the Motor Industry Code of Practise for New cars, Service and Repairs. Motor Codes can provide certified an Alternative Dispute Resolution (ADR) service should a consumer remains dissatisfied with an outcome of a dispute in relation to the New Car Code or Service and Repair Code by visiting http://adr.motorcodes.co.uk or calling their advice line on 0800 6920 825.

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© Pye Motors 2015 - 2019. All rights reserved.
Pye Motors work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We are only able to offer finance products from these providers: Ford Credit PLC, Black Horse Ltd, Ford Lease, Barclays Partner Finance, Close Motors Finance, Evolution Funding Ltd and Mann Island Finance.
Pye Motors is a limited company registered in England. Registered office: Ovangle Road, Morecambe LA3 3PF. Registered number: 204727. VAT number: 153686543