0% Financing
#1
0% Financing
What does it to get approved for 0% financing? I know it has to with your credit record. But what does it all boil down to in terms of the customer? I've financed with Ford Credit about 8 times in my life, have great credit but have never beedn offered 0% at the dealer?
How many 0% deals are actually offered in the real world?
Thanks.
How many 0% deals are actually offered in the real world?
Thanks.
#3
#5
Am I understanding that correctly ?
#6
I have bought 7 new vehicles in my life and paid cash for all but the first one. I save my money and negotiate the price and write out a check. It eliminates many of the games played. Even on the first one, I paid it off by making double payments. I HATE paying interest.
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Jim
Jim
#7
Normally, you do not get the cash rebates and the discount of sticker can be different. The point being made is that you pay for it one way or another.
I have bought 7 new vehicles in my life and paid cash for all but the first one. I save my money and negotiate the price and write out a check. It eliminates many of the games played. Even on the first one, I paid it off by making double payments. I HATE paying interest.
I have bought 7 new vehicles in my life and paid cash for all but the first one. I save my money and negotiate the price and write out a check. It eliminates many of the games played. Even on the first one, I paid it off by making double payments. I HATE paying interest.
There are to many games to be played in the purchase of a new vehicle. I have owned my share of new vehicles and have learned my lessons. I'll stick to buying them after a couple and let the 1st owner take the initial butt hole enlarging.
The best new truck I ever bought was my 2000 F150. I had to repalce my "97" after it was totaled, I did my reasearch, went to a very large Ford dealer, found one on their lot that fit my list of needs and wants. I walked inside and spoke with a salesman, told him which truck and what I wanted added to it (bedliner) and after all incentives and rebates this is my offer ($) He looked the truck up, came back to his desk and OK, we have a deal. No arguing, no hasseling over. Took the wind right out of my sails, I was ready for a fight and didn't have to go there.
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#8
If you read the fine print, it's almost always a choice between 0% financing or a cash rebate.
What you need to do is this - negotiate a cash price for the vehicle before any incentives and without a tradein. Then start talking rebates, incentives, financing, and tradein. That way, you start out on a level playing field.
What you need to do is this - negotiate a cash price for the vehicle before any incentives and without a tradein. Then start talking rebates, incentives, financing, and tradein. That way, you start out on a level playing field.
Last edited by glc; 07-25-2010 at 04:06 PM.
#9
What does it to get approved for 0% financing? I know it has to with your credit record. But what does it all boil down to in terms of the customer? I've financed with Ford Credit about 8 times in my life, have great credit but have never beedn offered 0% at the dealer?
How many 0% deals are actually offered in the real world?
Thanks.
How many 0% deals are actually offered in the real world?
Thanks.
I saw an ad for 0% financing on mustang gts, and was intrigued, but apparently the v6 for 2011 is going to be as powerful as the 2010 gt.
#10
#11
I walked into the dealership to buy my Harley Davidson (the first one) I had seen it online and called them to ask price and all that good jazz. When i asked over the phone what i could get it for cash price. I was told $29,500. I never guaranteed them i was going to come get the truck. I showed up at the dealership 2 days later and talked to the first salesperson i saw we sat down and started talking about Finance rates and pricing. They then told me the price of the truck was $34,000 . So i blew their mind when i pulled out the $29,500 cash that I had previously been assured of. And explained to them I was simply trying to see what the difference would be in price if i financed. I didn't tell them that I had called a few days ago because I didn't want them to catch on to my game. Just goes to show. I forgot to add though this truck was used not sure that you can get 0% on used.
Last edited by MRLSU2U; 07-25-2010 at 09:10 PM.
#12
#14
Normally, you do not get the cash rebates and the discount of sticker can be different. The point being made is that you pay for it one way or another.
I have bought 7 new vehicles in my life and paid cash for all but the first one. I save my money and negotiate the price and write out a check. It eliminates many of the games played. Even on the first one, I paid it off by making double payments. I HATE paying interest.
I have bought 7 new vehicles in my life and paid cash for all but the first one. I save my money and negotiate the price and write out a check. It eliminates many of the games played. Even on the first one, I paid it off by making double payments. I HATE paying interest.
#15
You have to be careful and hes right but now always. 0% is a huge marketing ploy. A lot of time you take the the incentives and dont get the 0% or you take the 0% and dont get the incentives thus you are still paying for the 0%. Dont fall into dealers wheeling and dealing on interest rates and loans. A lot of times I get my own financing get the incentives and have a cheaper rate. Also ask your dealer if they are holding points on your interest rate. For intance if they get a loan for you through X local bank for 2%, theres a good chance they could be holding .10 or .15 percent. Basically meaning they get .1 percent of your loan. ****er with them and tell them not to hold points, it will save you.
0% can be a good deal, but a lot of people are clueless and run around telling you to do the 0% and invest your money. realistically who is going to take the interest and invest it, anyways car loans are now under 2% anyways. All things aside if you look at 0% its not that good of a deal as its cracked up to be. Take for instance my truck now I am not factoring trade or down payment here. My truck was 38 if i took 0% and not the incentives truck would have been 40k out the door which is a $666 per month. Instead I took incentives and got truck to 34 out the door with a 1.99% rate. Payment is 595 amonth, so I save 70 bucks a month, pay 1500 in interest over 5 years and still save 5 grand instead of doing 0% interest. So dont let people or dealers fool you.
0% can be a good deal, but a lot of people are clueless and run around telling you to do the 0% and invest your money. realistically who is going to take the interest and invest it, anyways car loans are now under 2% anyways. All things aside if you look at 0% its not that good of a deal as its cracked up to be. Take for instance my truck now I am not factoring trade or down payment here. My truck was 38 if i took 0% and not the incentives truck would have been 40k out the door which is a $666 per month. Instead I took incentives and got truck to 34 out the door with a 1.99% rate. Payment is 595 amonth, so I save 70 bucks a month, pay 1500 in interest over 5 years and still save 5 grand instead of doing 0% interest. So dont let people or dealers fool you.