Zero rate offer
The zero interest rate mostly refers to purchases of consumer goods in retail with installment loans that do not charge interest . These offers are offered by the trade if the purpose of a larger sale of goods is to be achieved. It has to be taken into account that the missing payments of interest can be compensated by other costs.
Zero interest rates on consumer goods
Such offers can be found at furniture dealers, car dealerships, hardware stores and electrical and electronics wholesalers. These offers are mostly limited in time and quantity. Such offers are also often reduced to certain types of devices and facilities.
Hidden costs and adverse conditions
Often the zero interest rate offer is associated with the conclusion of a residual debt insurance in order to cover possible risks on the part of the buyer. In order to process the repayment of the installment payments, an account is often required with this offer , for which one-off and / or ongoing fees apply.
While a processing fee may be waived when setting up a purchase on credit, the zero interest offer is not generally exempt from a processing fee. The provider will also secure his credit by sending an inquiry about the buyer's financial situation to an information center . In the case of an incorrectly set standard feature (wrong: "credit"; correct: "credit request"), however, this request can lead to a downgrading of the buyer's creditworthiness, so that future loans can entail more costs.
Furthermore, in the cost calculation with a zero interest offer, it must be taken into account that discounts on the purchase are granted less often, reduced or not granted at all. As an alternative, buying with a cheap discount can mean less costs than a zero interest offer with hidden costs. A combination of a cash payment and a loan on the remaining debt can also be cheaper than an installment payment with a zero interest rate.
Individual evidence
- ↑ The pitfalls of the zero interest rate offers. In: Frankfurter Allgemeine Zeitung , December 29, 2009.
