Make Sure You Consider All the Facts
Some automobile dealers are once again promoting
their 0% financing deals. Before you sign an agreement you may
regret we want you to understand that a 0% deal may not always be in
your best interest. Consider these facts pertaining to 0% financing
before purchasing a new vehicle:
. Once on the lot,
many buyers will discover they don't qualify for
the dealer's lowest rates. These dealer
rates are almost always available only on short term12-24 month
Such a short repayment period may place your
monthly payments well out of reach.
The low loan rates are usually offered as an
alternative to a sizeable rebate.
Frequently, taking the rebate and lowering the
principal amount you need to borrow has a
greater impact on reducing your monthly
payments than the loan rate does.
Bigger down payments are usually a requirement and
pre-payment penalties are common.
The loan rates are often applied to slower selling
dealer stock vehicles. Many of which tend to have a lower resale
As a result, the dealers are usually unwilling to
negotiate the sale price and you may be required to pay for unwanted
options that add to the overall expense.