is that good deal or not...?
2006-12-28 10:30:54 · 16 answers · asked by sugarbaby 2 in Business & Finance ➔ Credit
It's a good financing deal...But what type of deal are you getting on the price of the car?
2006-12-28 10:32:41 · answer #1 · answered by feanor 7 · 0⤊ 0⤋
Hobson's choice?
You really need to give us a greater range of answers to choose from. Or explain your financial situation in some depth.
Not everyone can afford a new 2007 VW Passat, even at 0% APR. How can we tell if you can or not? It is only a good deal for YOU if you can afford it.
2006-12-28 10:43:08 · answer #2 · answered by J. C. 6 · 1⤊ 0⤋
The interest you are 'not' paying is usually built into the price of the car. How much could you reduce the price if you paid cash? How does that compare to the interest you would pay on a loan from an independent lender? These are the questions you need to get answers to. If you still come out ahead with the 0% deal, take it. My bet is you are better off getting other financing and negotiating a lower price.
2006-12-28 11:55:45 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
No, you shouldn't. This 0% APR is, well, bull. The 0% APR will last only a short time, then spike up unbelievably, or the interest is added to the cost of the car. The bank will make their profit. The best way to buy any car is to go to your bank and get pre-approved for a loan. The bank wants YOU to get the best deal, since they like having your money in your account. The dealership's banks have the same goal, but a different customer. If you have good credit, your bank will be very happy to provide you with the safest agreement for your needs.
2006-12-28 10:37:40 · answer #4 · answered by Kristi 2 · 0⤊ 2⤋
Depends on how good? If you are over the 720 range I say go for it but read the fine print carefully. That financing usually has a limited range i.e months.
Be very careful though on this as dealers love to tell you that your credit is not that high and you don't qualify. Some have even gone to the extent of providing you with false numbers they made up. If you know your credit is excellent i.e. 720 and above and the terms are right for you then go for it.
Just be prepared to walk away if they tell you different at the dealer. Remember dealers make money on what they book you at for financing.
2006-12-28 10:35:48 · answer #5 · answered by logan 5 · 0⤊ 0⤋
At Riverside Volkswagen they are offering $700 below invoice on all 2007 VW Passats and 0% APR.
Call them 800-808-5000 ask for BDC internet department
or email www.riversidemetro.com
Its a once a year oppertunity, take it!
2006-12-28 10:34:58 · answer #6 · answered by 112 4 · 0⤊ 0⤋
It's a great deal as far as the interest rate obviously. Now be careful on what car dealers call the "back end." Personally, I wouldn't pay for rustproofing or extra paint protection or buy any add-ons.
2006-12-28 13:41:49 · answer #7 · answered by The Scorpion 6 · 0⤊ 0⤋
That is a very good deal. There is an annual charge for the financing (so it is not really exactly 0%)
2006-12-28 10:33:40 · answer #8 · answered by Michael C 3 · 0⤊ 0⤋
Get it! 0% is free money to you and the Passat is a great car.
2006-12-28 10:33:34 · answer #9 · answered by mmcall 2 · 0⤊ 0⤋
0 percent is a great deal but the price is way more important than the interest rate take that into account before anything else
2006-12-28 10:33:27 · answer #10 · answered by Anonymous · 1⤊ 0⤋