The return of zero-rate credits is driving the recovery of the automotive market. Thanks to low interest rates, many can access the purchase of brand new cars with affordable installments.
In this context, the Peugeot 208 is positioned as the best-selling model in the country. It is one of the most attractive options for those seeking financing of up to 50% of the vehicle's value.
How does the financing of brand new cars work?
Credits for buying new cars are a key tool for those looking to finance up to 50% of the vehicle's value. The Peugeot 208 Allure, for example, has a list price of $27,270,000, with the option to finance up to $14,000,000 at zero rate.
The installment system works simply. If 50% of the value is financed, the monthly installment will be $777,777.80 for 18 months, without interest. However, other additional expenses must be considered, such as the mandatory vehicle insurance and granting expenses.
What additional expenses should I consider?
Besides the monthly installment, when taking out a pledge credit, you must take out insurance for the car. For example, the full coverage insurance for the Peugeot 208 Allure MT costs $69,075.6 per month, which raises the total monthly installment to $861,359.2.
