Warning on offers at Brussels Motor Show

Consumer organisation Test-Aankoop has warned motorists to beware of special deals offered at the Brussels Motor Show, which starts on 12 January at Brussels Expo. Buyers could be confused by the various deals on offer, said the organisation. A 0% interest rate, for example, could turn out to be more expensive than a 5% rate, if other incentives, such as extras and discounts, are not included, or if the dealer is offering a lower figure for the buyer’s trade-in vehicle.

Test-Aankoop also warns against “balloon contracts”, an instalment plan that appears to offer lower monthly payments, but which comes with a lump sum due at the end of the payment term or a requirement to buy another new car of the same make under the same terms.

Balloon contracts in general, the organisation says, end up costing more than a normal instalment plan. To help customers keep track of the conditions on offer, Test-Aankoop has installed a repayment calculator on its website, which provides information on the monthly payments asked by over 100 banks and credit institutions for any given sum.

www.test-aankoop.be

(January 11, 2012)