Probs connecting 0 gauge ring terminal on battery terminal.

Ive just bought a new skoda fabia vrs but the battery terminal only has about 3mm of available thread to bolt down the new terminal with, I cant cut off the skoda terminal because of warrenty, so what im wondering is can i drill a small hole in the top of the battery terminal and mount the new connector directly, or will i have probs with the battery or anything. Any help would be much appreciated.

Many thanks.

Rob x