0% APR - AR15.COM

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[ARCHIVED THREAD] - 0% APR

Posted: 7/20/2008 10:33:54 AM EDT

What's the catch when car dealerships offer 0% APR? Other than needing great credit to qualify, what are they hiding?

Posted: 7/20/2008 10:34:35 AM EDT

[#1]

Little or no discounts off MSRP

Posted: 7/20/2008 10:35:22 AM EDT

[#2]

Quoted:
Little or no discounts off MSRP

+1

They'll try to sell you everything but the sink. I.E. extended warranty, undercoating, bed liner, etc.

Posted: 7/20/2008 10:36:04 AM EDT

[#3]

Quoted:
Little or no discounts off MSRP

yup... you have to finance throught them and they'll get you at sticker.

Posted: 7/20/2008 10:36:36 AM EDT

[#4]

It can be 0% apr. But that will lower your guard and you will pay in other ways.

May the force be with you.

Posted: 7/20/2008 10:37:50 AM EDT

[#5]

They will also hit you with a "monthly loan service charge"...usually 15 to 30 bucks a month. Read the fine print!

Posted: 7/20/2008 10:42:37 AM EDT

[#6]

Dont listen to these guys, I have bought 0% and you get the same discounts. The car companies (not the dealerships) start coming out with 0% financing if they feel they may not be able to move stock before they start to roll out the new yaear models

Posted: 7/20/2008 10:44:14 AM EDT

[#7]

Quoted:

Quoted:
Little or no discounts off MSRP

+1

They'll try to sell you everything but the sink. I.E. extended warranty, undercoating, bed liner, etc.

My dealer tried to sell me bed liner on my convertible

Posted: 7/20/2008 10:45:28 AM EDT

[#8]

If you are not sure, go in there telling them you are financing through your personal bank or credit union. Dicker down your price, then ask about the 0% APR. I have done that and the price didn't change. Also no problem in the fine print.

Have already paid off that vehicle and saved about $3500 in interest.

Posted: 7/20/2008 10:46:55 AM EDT

[#9]

Thanks for the replies. I'm not in the market for a new car, I've just noticed a lot of car ads recently with 0% APR, so I was just curious.

Posted: 7/20/2008 10:46:59 AM EDT

[#10]

Do you remember the pre 9/11/01 little sayings "$2000 cash back to dealer" or "Rebates to dealer"? Well, those have been repackaged to cover your roughly $2000 dollar finance charge.

It is just a shell game.

Pay cash save more money.

Posted: 7/20/2008 10:54:38 AM EDT

[#11]

48 mo same as cash......

But if you actually pay in cash we will give you a discount.

They are just jacking up the price

Posted: 7/20/2008 10:54:51 AM EDT

[#12]

screen price plus interest = new screen price at 0%

Posted: 7/20/2008 11:55:56 AM EDT

[#13]

I have purchased Chevy products with the zero percent offer. I still negotiated the vehicle to the dealer invoice (below MSRP) and then qualified for the zero percent. Admittedly you must have good credit, but is is a way to move the vehicle.

Paying cash is good sometimes.

Paying no interest is good sometimes.

Paying a lot of interest is bad almost always.

Posted: 7/20/2008 12:06:05 PM EDT

[#14]

Mine was at 1.9% but that was on a short term loan and was set after my price

Posted: 7/20/2008 12:10:16 PM EDT

[#15]

Just save up enough cash to buy what you want.

Go in and pretend to be ignorant when it comes to financing, let them think they're going to screw you with a high interest rate. Use that to negotiate a lower selling price, but insist on no penalty for paying off the loan early (just in case I win the lotto, duhr). Make the deal and pay off the car with your first loan payment.

[ARCHIVED THREAD] - 0% APR

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