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  #1  
Old 07-24-2010, 06:38 PM
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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.
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  #2  
Old 07-24-2010, 09:58 PM
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0% is a farce, the price is worked into the purchase price. Instead of 0% financing ask how much less for cash! It is substantial. Remember nothing is free!
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  #3  
Old 07-24-2010, 10:06 PM
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Quote:
Originally Posted by Tuttled View Post
0% is a farce, the price is worked into the purchase price. Instead of 0% financing ask how much less for cash! It is substantial. Remember nothing is free!
What the hell does that mean ?
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  #4  
Old 07-24-2010, 10:13 PM
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in other words, when you get the 0% financing, the amount of interest you would normally pay is already worked into the purchase price of the vehicle..
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  #5  
Old 07-25-2010, 10:08 AM
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Quote:
Originally Posted by USAFORD View Post
in other words, when you get the 0% financing, the amount of interest you would normally pay is already worked into the purchase price of the vehicle..
So if you are eligble for get the 0% financing and choose to go that route then there would be No negotiating on the sticker price of the truck.
Am I understanding that correctly ?
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  #6  
Old 07-25-2010, 10:16 AM
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Quote:
Originally Posted by mlamprey View Post
So if you are eligble for get the 0% financing and choose to go that route then there would be No negotiating on the sticker price of the truck.
Am I understanding that correctly ?
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.
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  #7  
Old 07-25-2010, 12:59 PM
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Originally Posted by Bluejay View Post
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.
You sure got that right. Your going to get bent over one way or another.
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  
Old 07-25-2010, 04:00 PM
glc glc is offline
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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.
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Last edited by glc; 07-25-2010 at 04:06 PM.
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  #9  
Old 07-25-2010, 05:05 PM
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Quote:
Originally Posted by kehinnc View Post
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.
You need to know that it's available, not want the probable cash back, want to buy an undesirable vehicle and/or at an undesirable time, and have good credit.

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.
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  #10  
Old 07-25-2010, 07:56 PM
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The only thing that's going to sell GT's now is the mindset of people who think that if it doesn't have 8 cylinders it's not worth squat. Something about a man card or something.
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  #11  
Old 07-25-2010, 08:33 PM
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pranKst0r
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.
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  #12  
Old 01-27-2011, 05:15 AM
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Hi
i am a finance manager and know much about the interest rates charging.
you should ask for that what would be the "effective annual rate"
then you will know what interest rate will be charge to you
thanks
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  #13  
Old 08-01-2011, 05:43 AM
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i agree with you,i like this forum
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  #14  
Old 12-10-2011, 12:43 PM
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Quote:
Originally Posted by Bluejay View Post
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.
+1, paying cash is the way to go. I typically buy older vehicles and let somebody else take the depreciation hit. F150's are great trucks and even at 5yrs old have plenty of life left in them.
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  #15  
Old 01-12-2012, 08:12 AM
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Quote:
Originally Posted by mlamprey View Post
What the hell does that mean ?
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.
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Old 01-12-2012, 08:12 AM


 
 
 
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