0% financing on car--is there a catch? - Page 2 - TigerDroppings.com

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Croacka
UNLV Fan
Denham Springs
Member since Dec 2008
50477 posts

re: 0% financing on car--is there a catch?


quote:

thousands below invoice


After rebates of course

X plan price is before any rebates

Rebates are then subtracted from the x plan price.






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I B Freeman
Member since Oct 2009
5457 posts

re: 0% financing on car--is there a catch?


I bet you can make a better deal on the price without the 0% financing. Offer 5-10% less using traditional financing.

The lenders are charging the dealer to provide that 0%.







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TigerTatorTots
LSU Fan
Mandeville, LA
Member since Jul 2009
65805 posts

re: 0% financing on car--is there a catch?


What is X Plan and what does a person's company have to do with buying a personal vehicle? Do you just call the dealership and say I have X plan? How does it work?





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LSUtigerME
LSU Fan
Walker, LA
Member since Oct 2012
581 posts

re: 0% financing on car--is there a catch?


Financing shouldn't matter in the price. You should have fully negotiated the price prior to discussing financing. There are often rebates/cash in lieu of the 0%, but not base price.

X-Plan is Ford's program for suppliers/affiliates. Similar to the GM Supplier Discount, Hyundai Inner Circle, Nissan VPP, etc. It's just a set price with no haggling or extra fees. It can sometimes be beat depending on model. It's often worth the trouble simply to avoid dealing with dealer. You walk in, give them number, and price is set. It's often not a bad price. X-Plan and GM can often be beat, Nissan/Infiniti, Hyundai, MB and some others are really good prices.






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TDsngumbo
LSU Fan
Member since Oct 2011
5211 posts

re: 0% financing on car--is there a catch?


They get you in the door and get you to agree to a price with the 0% financing. Then you meet with the finance manager. He will then push like hell for you to take the 0.9% - 1.9% financing.
Technically, you save a LITTLE money doing it this way IF and only IF you plan on paying it off early by paying extra each month. But then you don't have the flexibility to pay less if you get in a pinch.
My advice: get the 0% financing and still pay it off early.






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LNCHBOX
LSU Fan
70001
Member since Jun 2009
18699 posts

re: 0% financing on car--is there a catch?


quote:

My advice: get the 0% financing and still pay it off early.


There is literally no incentive to do this other than to just not have the debt.






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Croacka
UNLV Fan
Denham Springs
Member since Dec 2008
50477 posts

re: 0% financing on car--is there a catch?


quote:

Then you meet with the finance manager. He will then push like hell for you to take the 0.9% - 1.9% financing. Technically, you save a LITTLE money doing it this way IF and only IF you plan on paying it off early by paying extra each month. But then you don't have the flexibility to pay less if you get in a pinch. My advice: get the 0% financing and still pay it off early.


None of this makes any sense






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just1dawg
Mississippi St. Fan
Enzed
Member since Dec 2011
632 posts

re: 0% financing on car--is there a catch?


quote:

In both cases, I got dealer invoice - factory to dealer incentives AND 0% interest.


Me too. Paid just under the official invoice (there was a dealer rebate from Mazda) for my Mazda3 in January 2010 and financed it at 0% for 60 months.



This post was edited on 1/8 at 3:09 am


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geauxkw
LSU Fan
BR
Member since Aug 2008
726 posts

re: 0% financing on car--is there a catch?


Most have rebates right now. The mazdas are barely marked up any way. Lot of companies offer "x" plan. Dealerships are needing to move new inventory. Can get a great deal right now





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Big Scrub TX
LSU Fan
Austin
Member since Dec 2013
778 posts

re: 0% financing on car--is there a catch?


quote:

No catch other than you are borrowing more up front. The first few years you will be "upside down". But you won't have spent several grand up front.


Did he say 0 down or 0%?






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