0% financing offers

What's the deal on these 0% financing offers. I mean, how many people actually qualify for those? How much would I need to put down? Is this just a gimmick?

Trust us, it?s a good deal. The only gimmick is to get people to buy cars at a time when dealers are desperate for sales. And to that extent manufacturers have succeeded.

We don?t know how many people actually qualify for 0% financing but so many buyers rushed to take advantage of the programs sales soared about 33% in October?a record for the month. Even if your credit isn?t good enough to qualify for a free ride, car company financing is still significantly better (say 4.9%) than bank financing, which is now around 7.5% for four-year loans.

As it is with the financing, the amount of down payment required depends on your actual credit rating. Keep in mind when choosing betwen 0% financing or a cash rebate the financing typically is a better deal.

Originally posted by Unregistered
What's the deal on these 0% financing offers. I mean, how many people actually qualify for those? How much would I need to put down? Is this just a gimmick?

I went into a dealership and intended to pay 100% cash for a van. However, I was offered 36 months @ 0% financing. Since the van cost $24,300 plus taxes, I decided to take the dealership up on the offer for 36 months @ $400 per month. In other words, I put down somewhere around $11,600 and financed $14,400 for 36 months. ***Thats $14,400 of someone's elses money sitting in my bank account earning interest for me! Maybe that some of your money? It's a FREE ride any way I look at it! EN

Not bad at all! May as well keep it in the bank =).

I almost caved in until I realised my car was just fine and I've got another five-ten years left on it, easily, lol.