Enterprise Motor Group's No Deposit Car Finance

One common question that the helpful team at Enterprise Motor Group get asked is, “What sort of deposit do I need to finance a car?” and the answer is, “Well, that depends.” To help make things a little clearer, the Enterprise team explain what it can depend on. For instance, when someone is applying for car finance, the finance company (in their case, Community Financial Services or CFS) are making a decision about risk. Their team looks at what constitutes the risks that their clients won’t be able to afford to keep up their car payments, because the last thing that CFS or Enterprise wants is for their customers to struggle with their everyday living because their car payments are too high.

It is true, that at Enterprise Car Group they sometimes ask people for a deposit on a car loan because they figure that the more deposit a person pays, the lower the amount of money they need to borrow and the lower their car payments will be. If a deposit is required, it is usually accepted in the form of the clients’ existing car being used as a ‘trade in’. Even customers who still owe money on their old car can trade it in. Enterprise Motor Group simply deduct what someone still owes on the car from their trade in value and settle their old car loan for them.

People also often ask what the criteria are for a No Deposit Car Loan. There are three main areas that are considered when someone applies for a no deposit car loan, and these are: “How easily can you afford the payments?” “What do you do for a job and how long have you worked there?” “How long have you lived at your house?” However, there are always exceptions to the rule. For example, the Enterprise Motor Group team have helped countless customers who are on a benefit to buy a car with no deposit finance.

So, for anyone needing car finance and who doesn’t have a deposit, the best thing they can do is to complete the Enterprise Motor Group’s easy online finance application and to talk to one of their friendly staff about arranging a car loan that is right for them.

For further information, please visit the website at http://www.enterprisecars.co.nz .