Zero interest for 5 years, too good to be true
By kingparker
@kingparker (9673)
United States
October 9, 2010 12:16pm CST
I will see this ad from the roadside on those dealership, and I thought to myself, if I walk in there, would I really get that 0% interest rate for 5 years that easy? From my friend's experience, he would tell me that you won't get deal from the dealership even though you have nice score on your credit. Their criteria for that 0% APR quite strict, and you might end up they telling you something different. They might want to use different tactic to sell you cars but with some interest rate attached to it. So, whenever you see those ads on the road offer by those dealership, don't fall for it. It was just a gimmick trick.
2 responses
@petersum (4522)
• United States
9 Oct 10
I don't know about cars because I've never bought a new one, but I certainly know that zero interest trick! The interest is already included in the price. If you don't believe it, offer them cash. You'll get a sizable discount that way. Otherwise, a trip down the road will reveal that other dealers have lower prices anyway.
@kingparker (9673)
• United States
9 Oct 10
Well, for me, the price will be cheaper if you want to pay everything all in once. It is every dealer's dream. But with 0% interest rate, it is simply a gimmick, and it won't have substantial offer once when you walk into the dealership's door.
@infatuatedbby (94909)
• United States
9 Oct 10
In the end of 2008, my parents bought me a 2009 Toyota Corolla Sport. Zero interest for 3 years and zero down. My parents both had good credit scores so they were able to get that offer. However if you do not have good credit, a job then you probably will not qualify for the offer but they have other rates available too. So the offer is pretty legitimate but it depends on everyone.. it won't hurt to give it a try though.
