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Posted: 1/19/2021 6:38:34 PM EDT
[#1]
No reason not to unless you're forgoing other significant incentives to obtain the 0% rate.
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Posted: 1/19/2021 6:38:49 PM EDT
[#2]
There isn't. If you have the money, set it in a separate account with an automatic withdrawal, and forget about it. If you suddenly need that money for an emergency, you have it. If not, it sits, automatically pays off your car, and builds your credit.
The only real reason I could think of is that if you're willing to buy it outright, you might get a better deal. |
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Posted: 1/19/2021 6:39:33 PM EDT
[#3]
No. It's free money.
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Posted: 1/19/2021 6:40:46 PM EDT
[#4]
Quote HistoryQuoted: There isn't. If you have the money, set it in a separate account with an automatic withdrawal, and forget about it. If you suddenly need that money for an emergency, you have it. If not, it sits, automatically pays off your car, and builds your credit. The only real reason I could think of is that if you're willing to buy it outright, you might get a better deal. generally you get more incentives if you finance. |
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Posted: 1/19/2021 6:41:07 PM EDT
[#5]
I did it on my current car; worked out great. Still paid it off way early because the payment bothered me.
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Posted: 1/19/2021 6:41:33 PM EDT
[#6]
Quoted: Yes, I could afford it out right. Discuss. I've done it, paid off the vehicle shortly after. Most places that offer that add on the potential interest into the purchase price, since many people see the price below MSRP and don't realize the dealer didn't actually pay that and whatever they wouldve made in interest is just added onto the purchase price. |
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Posted: 1/19/2021 6:42:16 PM EDT
[#7]
Quote HistoryQuoted: No reason not to unless you're forgoing other significant incentives to obtain the 0% rate. |
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Posted: 1/19/2021 6:42:49 PM EDT
[#8]
Only if your loose significant rebate.
0% takes 24/36 months to obtain full benefit. Rebate instant at POS. If you have loss or theft of vehicle during 1st year or 2, rebate may be better. |
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Posted: 1/19/2021 6:44:00 PM EDT
[#9]
Normally I would say take the 0% financing. However with your ability to pay cash you could get a better price and incentives.
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Posted: 1/19/2021 6:44:09 PM EDT
[#10]
The one I saw increased the price by $10k
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Posted: 1/19/2021 6:45:44 PM EDT
[#11]
Ducati offered me 0% for 6 years on my avatar.
I had the cash, asked if I could get a further discount beyond what we negotiated if I paid cash. "Nope, that's a Ducati incentive, doesn't cost us a dime" OK then. I'll take the interest free money. Only downside is it removes your flexibility to adjust your own insurance options. |
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Posted: 1/19/2021 6:46:01 PM EDT
[#12]
I see no reason not to do it. Wife's car is on 0%
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Posted: 1/19/2021 6:46:40 PM EDT
[#13]
Yes, MSRP I do not do.
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Posted: 1/19/2021 6:47:24 PM EDT
[#14]
Quoted: Yes, I could afford it out right. Discuss. |
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Posted: 1/19/2021 6:47:25 PM EDT
[#15]
ARFCOMMERS ONLY PAY CASH.
DEBT IS SLAVERY. I WON'T DRIVE A BANKS VEHICLE.  0% is literally free money, but watch out for the rebates that come off. Just pick the method with the least money leaving your pocket. |
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Posted: 1/19/2021 6:48:27 PM EDT
[#16]
If the rebates they offer end up being more beneficial than 0%. Sometimes if they offer you the special financing, you lose some of if not most of the rebates.
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Posted: 1/19/2021 6:49:10 PM EDT
[#17]
Fuck financing/using other people’s money. For me, it’s Cash Is King. Me and my SuperModel girlfriend with fake tits pay cash for everything. Plus I have a 12” dong.
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Posted: 1/19/2021 6:51:14 PM EDT
[#18]
We just bought a new Civic for our son and wanted to pay cash. The dealer suggested financing with Honda @1.9% and we'd get another 1k off the already very sweet deal. Done. We then paid it off.
The bottom line, just make whatever deal yields the lowest total cost. |
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Posted: 1/19/2021 6:53:56 PM EDT
[#19]
Heck yeah. Save your cash.
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Posted: 1/19/2021 6:54:24 PM EDT
[#20]
For 120 months for your Kia?
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Posted: 1/19/2021 6:55:28 PM EDT
[#21]
I have used the 0% financing offer twice.
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Posted: 1/19/2021 6:57:00 PM EDT
[#22]
Nope. You're an idiot not to take 0% financing for as long a term as they will give you. Even if you can buy cash, that cash could be doing other things for you. You could park the loan amount in a money market account and earn interest if you don't want to invest it in something with greater returns.
ETA: Assuming the price is the same with financing vs cash. If they're dropping a bunch of your incentives and rebates to make up the interest, then maybe not. |
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Posted: 1/19/2021 6:57:23 PM EDT
[#23]
IMO, no. Not unless there were significant early payment penalties and you were still set on early repayment for some reason.
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Posted: 1/19/2021 6:57:35 PM EDT
[#24]
My mom did on her 15 explorer but she negotiated the price with no trade in and significant down payment first.
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Posted: 1/19/2021 6:57:51 PM EDT
[#25]
Last time I tried to do 0% financing, the price of the vehicle magically went up by about how much interest would have been.
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Posted: 1/19/2021 6:58:29 PM EDT
[#26]
Quote HistoryQuoted: Nope. You're an idiot not to take 0% financing for as long a term as they will give you. Even if you can buy cash, that cash could be doing other things for you. You could park the loan amount in a money market account and earn interest if you don't want to invest it in something with greater returns. Yep. If you have the cash, you also need to look at how much interest you'd make parking that cash somewhere else like an index fund. Even with losing rebates and paying MSRP, you may very well come out ahead by taking the 0% and investing the cash. |
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Posted: 1/19/2021 7:00:06 PM EDT
[#27]
Quote HistoryQuoted: generally you get more incentives if you finance. This you may be better taking 2.9% and incentives over 0%. |
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Posted: 1/19/2021 7:01:22 PM EDT
[#28]
Quote HistoryQuoted: Last time I tried to do 0% financing, the price of the vehicle magically went up by about how much interest would have been. This was a factory ordered vehicle, so I had negotiated the price before the finance offer came along. 2021 GMC Sierra Elevation |
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Posted: 1/19/2021 7:01:33 PM EDT
[#29]
Why? That’s free fucking money from inflation alone, not mentioning that cash could make more money for you.
It is literally free money. |
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Posted: 1/19/2021 7:02:02 PM EDT
[#30]
Yes, postpone all purchases until 2024. Of course inflation may have driven the price up 4x by then.
Come on man! Resist! Save! |
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Posted: 1/19/2021 7:02:49 PM EDT
[#31]
Why not free usage of money for a few years
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Posted: 1/19/2021 7:03:04 PM EDT
[#32]
Quote HistoryQuoted: No reason not to unless you're forgoing other significant incentives to obtain the 0% rate. This. Sometimes it's better to take the higher rate because it comes with incentives that lower the overall cost of the vehicle compared to the cost with 0% financing I had this choice for our Atlas. I went in thinking we should take the 0% but with the incentives it was better/cheaper to go with the higher rate. |
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Posted: 1/19/2021 7:04:52 PM EDT
[#33]
0% financing when real inflation is way above that is about as good of a deal as you can get.
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Posted: 1/19/2021 7:05:07 PM EDT
[#34]
Financing is dumb for a material object that depreciates as it sits. You don’t win even at 0%
My 82 Chevy s10 is still going strong. I won’t waste my money as I don’t finance anything or have credit cards and my score is 850. |
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Posted: 1/19/2021 7:06:24 PM EDT
[#35]
It is most likely a good deal, but check the actual cost of the loan. Usually (payment * num payments) > agreed cost even with 0%.
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Posted: 1/19/2021 7:06:31 PM EDT
[#36]
Lolz. There is no 0% free financing. Somebody has to Pay. Whenever that is offered, you can get ~$2000 off the OTD price by paying cash or financing at a higher rate. 0% interest free financing is a very effective marketing scam among the rubes, because most people don’t care about total cost. They only care about the monthly nut.
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Posted: 1/19/2021 7:06:49 PM EDT
[#37]
Quote HistoryQuoted: Why? That’s free fucking money from inflation alone, not mentioning that cash could make more money for you. It is literally free money. not really .. save $xxxx and finace at a low rate vs paying MSRP and zero interest at least that what they told me last time it was a 2014 rubicon. i haggled the price then they offerd zero interest .BUT at msrp i took the negotiated price and financed thru my credit union. my payment was still lower then the zero interest they offered me. if anyone has been able to haggle the price and still get zero % loan.. let me know. i wasnt able to back in 2014 |
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Posted: 1/19/2021 7:07:54 PM EDT
[#38]
FPNI.
Don't give up good rebates when interest rates are low. Speed |
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Posted: 1/19/2021 7:09:46 PM EDT
[#39]
I'd absolutely finance at zero percent, UNLESS there was an "zero percent financing or xxxx" which is often the case.
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Posted: 1/19/2021 7:11:41 PM EDT
[#40]
Quote HistoryQuoted: Financing is dumb for a material object that depreciates as it sits. You don’t win even at 0% My 82 Chevy s10 is still going strong. I won’t waste my money as I don’t finance anything or have credit cards and my score is 850. No, you absolutely win with 0% financing. As long as the price isn’t bumped up by taking that option, you’d be a fool to not take it. |
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Posted: 1/19/2021 7:13:31 PM EDT
[#41]
Quote HistoryQuoted: Ducati offered me 0% for 6 years on my avatar. I had the cash, asked if I could get a further discount beyond what we negotiated if I paid cash. "Nope, that's a Ducati incentive, doesn't cost us a dime" OK then. I'll take the interest free money. Only downside is it removes your flexibility to adjust your own insurance options. |
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Posted: 1/19/2021 7:14:06 PM EDT
[#42]
Normally you lose out on other incentives if you take the zero percent financing option. This normally causes you spend more money overall versus just buying the vehicle outright. Of course you will need to run the numbers for your exact scenario to make sure this is the case. The dealership makes their money with zero percent financing by not giving you the incentive cash.
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Posted: 1/19/2021 7:15:33 PM EDT
[#43]
Quote HistoryQuoted: Financing is dumb for a material object that depreciates as it sits. You don’t win even at 0% My 82 Chevy s10 is still going strong. I won’t waste my money as I don’t finance anything or have credit cards and my score is 850. What's even dumber is dumping a bunch of cash into a depreciating asset. For those of us that buy a vehicle more than once every thirty years, 0% financing is a no-brainer arbitrage opportunity. |
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Posted: 1/19/2021 7:16:06 PM EDT
[#44]
Quote HistoryQuoted: Normally I would say take the 0% financing. However with your ability to pay cash you could get a better price and incentives. Out of curiosity, when's the last time you bought a new vehicle? I don't think it's worked like that in quite a while. |
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Posted: 1/19/2021 7:16:14 PM EDT
[#45]
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Posted: 1/19/2021 7:17:07 PM EDT
[#46]
Quote HistoryQuoted: generally you get more incentives if you finance. Yes, but typically 0 or 1% is an option vs cash incentives. In most instances, say 0% vs %2000 cash-back, the 0% will beat it long term. Of course, the cash rebates will beat 0% if you are intending to buy the vehicle outright. The heavy hitter incentives are designed to move something they need moved. The cash incentive increases 'buying power' and/or the ability for those with possible credit issues to qualify for financing, the low rates are more for those with sound credit. It's always a balancing act. Cash purchase vs keeping liquid funds with no interest, rebates vs rates, etc. Just remember none of these things have any bearing of the actual selling price of the vehicle being negotiated, never let 'incentives' (or payments) become part of the price negotiation. The payment itself is simple math vs terms. |
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Posted: 1/19/2021 7:19:08 PM EDT
[#47]
Quote HistoryQuoted: Normally you lose out on other incentives if you take the zero percent financing option. This normally causes you spend more money overall versus just buying the vehicle outright. Of course you will need to run the numbers for your exact scenario to make sure this is the case. The dealership makes their money with zero percent financing by not giving you the incentive cash. Never been my experience and I use zero percent free money for most major purchases if available. It is quite literally free money. I see your point though, it must be a true apples to apples comparison. |
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Posted: 1/19/2021 7:22:38 PM EDT
[#48]
When I bought my car I would have saved about $2K with 0% interest vs. the loan with the interest. The loan with the interest came with almost $6K in cash back though.
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Posted: 1/19/2021 7:22:44 PM EDT
[#49]
I have never bought a car that wasn't at least 4 years old. So I guess that would stop me.
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Posted: 1/19/2021 7:23:21 PM EDT
[#50]
Quote HistoryQuoted: No, you absolutely win with 0% financing. As long as the price isn't bumped up by taking that option, you'd be a fool to not take it. Quote HistoryQuoted: Quoted: Financing is dumb for a material object that depreciates as it sits. You don't win even at 0% My 82 Chevy s10 is still going strong. I won't waste my money as I don't finance anything or have credit cards and my score is 850. No, you absolutely win with 0% financing. As long as the price isn't bumped up by taking that option, you'd be a fool to not take it. I think he's mocking the people that can't see the forest for the Ramsey books. A person that doesn't finance anything or have credit cards doesn't have an 850 credit score. |
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