Quote:
Originally Posted by davidcroft
0% is stupid. You should instead take the cash back and the low financing if your credit is good. I see so many people waaaay to upside down on 0% for 72 month suburbans that have 100K miles and they wanna trade it in.
Now if you keep the car forever....then 0% might be a good option for you, but they're using the rebate $$ to buy the rate down to zero.... no banks actually loan money "for free"
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Either way whether I got the 0% financing or regular interest financing(and I was looking at 6%, and payments would have been at least $100 more) I still would have ended up with 72 months payments.
Not ALL deals are the same, in my case 0% was way better than 6%, AND it made it affordable so I could do the deal.
So who cares if they kept any rebates? Say for example they were gonna give me a $3000 rebate on a 27000 dollar car and it brought it down to 24000 dollars, but they charge me 6% interest? That would end up costing me around $32000 in the long run, but instead I take the car at full price of $27000 at 0%? In the long run I pay $27000, hmmmm thats $5000 difference!!!! Dont need to be a rocket scientist to figure out which one to go for.....