The local dealerships in town are offering 0% APR for 72 months.
What's the catch? Besides paying for 6 years that sounds pretty awesome. Low monthly payments and no interest right? There has to be some secret jewing going on that I don't understand.
>>13891412
>What's the catch?
You have to qualify for it.
>>13891415
Well fuck. I've only has my credit card for a year so there goes my plans of getting a decent vehicle for a good deal.
>>13891412
instant depreciation
unless the out the door price is lower than a certified used one and it offers an UNLIMITED warranty, then it's just called "sales marketing"
>mfw Americans have to write applications for six years of debt
You can't get any more goy than that.
>>13891429
If you can get a good rate from a bank bring it to them to see if they can beat it. You might not get 0%, but anything under 2% is good given inflation.
>>13891439
Do you know what a 0% APR is? It's basically free money.
>>13891465
>six years of debt somehow equals free money for Americans
>>13891474
>europoor can't handle debt
lmao.
>>13891412
the company gets it interest by having a higher MSRP
>Guise how do we get people to buy our cars
>0% interest for long time finance and increase the normal MSRP :^)
lefordface.jpg
>>13891412
they get these cars close to half price. even at 0% they make a killing
>>13891429
This >>13891449
Don't be afraid to shop around and negotiate, it can only help you. For example, a few months ago I financed a used truck. The dealer wanted something like 9% interest on the offers they were bringing me. I shopped around, got an offer for 4.9% (being used, interest will always be higher). Showed it to the dealer, they came back with some better numbers, but couldn't actually beat the 4.9% offer so I went with them, which was my insurance company no less.
>>13891474
>Eurokek is scared of Credit Cards/Loans because he heard a couple of horror stories about them.
Financing is easy and a useful tool if you're not completely fucking retarded.
>>13891493
>they get these cars close to half price
No.
>>13891496
Maybe I'm retarded, but at least I have household equity without a minus in front of it.
>>13891493
Not accurate at all. Markup on most generic cars/sedans is a couple thousand dollars or less.
>>13891415
This. Plus, they're probably offering it on their shit cars they're trying to get off the lot.
>>13891412
you can't combine it with factory incentives and promos so expect to pay around Msrp. Do the math or have the sales guy spell it out for you which one is the better value.
>>13891512
You really are retarded, aren't you?
>>13891474
Considering inflation and returns on the financial market, yes, yes it is.
>>13891532
It's actually on new trucks. Most start around 35,000 (canadian) but they're 4x4 and at least extended cab if not crew cab.
>>13891512
Put it this way, let's say you need $500k for a house and make $50k per year (ignore taxes, food, etc.).
Scenario 1 (no financing):
You need to save your money to pay for the house in full. Until you can buy the house, you need to rent. Let's say rent is $1k/month. That means you save $38k each year towards your house. It'll take you a little over 13 years to save up for your house. During that time, you've wasted $156k on renting. In total, you've paid $656k to buy your $500k house.
Scenario 2 (financing):
Let's assume you get 0% interest for simplicity. Let's say your downpayment is $50k. Again, you'll have to rent until you have a down payment. Now you only have to rent for about 1.5 years. You've only wasted $18k on renting as opposed to $156k. Now you get your mortgage and keep making the payments. You pay off the rest of your house over time.
Scenario 1 total: $656k
Scenario 2 total: $518k
By financing (at 0%) you save yourself $138k. Even with a normal interest rate, you still save money by financing.
Also, you have to remember that $1 now has more buying power than $1 in the future. Thus, it's better to save your money now and pay it off later.
