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GM 0.0% financing this month?

 
Old 03-11-2019, 05:44 AM
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toddhale010
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Default GM 0.0% financing this month?

I saw on GM's website that they are offering 0% interest for 72 months on new corvettes through April 1st. Has anyone checked into this or know if it's truly a 0% or a gimmick? Our plan was to purchase a car next month but we have 75% of the cash needed for our purchase and at a true 0% interest I'd be all over keeping that cash in my account and purchasing sooner. Also wondering if it would apply to discounted leftover 2018 models sitting around since I'm starting to see some better pricing on them lately.
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Old 03-11-2019, 06:13 AM
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lrobe22
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It’s for 2018’s only.
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Old 03-11-2019, 06:33 AM
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Good deal if you can find an ‘18 with the color/options that you want.
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Old 03-12-2019, 10:02 PM
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Originally Posted by Vetteman Jack View Post
Good deal if you can find an Ď18 with the color/options that you want.
Weíve actually found 3 leftover 18ís with the color and options we like. Theyíre priced very good but if we do the 0% financing theyíre adding $10k-$11k to the price of the car. To me thatís not 0 interest 😡
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Old 03-12-2019, 10:13 PM
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...and total BS. I bet you can find a dealership that will do both. If they want to sell a car..they will.

otherwise...whats the difference really
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Old 03-12-2019, 10:15 PM
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Originally Posted by toddhale010 View Post
Weíve actually found 3 leftover 18ís with the color and options we like. Theyíre priced very good but if we do the 0% financing theyíre adding $10k-$11k to the price of the car. To me thatís not 0 interest 😡
Yes that's the catch with 0% you won't get any discounts. Plus it's on 18s only

I would take the discounts any day over 0 % financing rate.
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Old 03-12-2019, 10:21 PM
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Exactly !!!
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Old 03-12-2019, 10:27 PM
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The best 0% was in November Black Friday event 2018 so far compared what GM is doing now. I got 0 % plus my 19 Z06 discounted. But the 0 % was for 36 months and you could not order one. In stock only.
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Old 03-12-2019, 10:30 PM
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I guess the terms vary. I was in Cadillac a couple weeks ago. For one week only, 0% for 72...AND the existing discounts and any other little give backs. We didn't pull the trigger tho. Was looking at new Escalades.
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Old 03-13-2019, 09:27 AM
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People generally donít understand the gimmick of 0% interest. All they are doing is rolling the future interest into the price of the car. So youíre paying for it. If you do financing like 3% then they will lower the price a little by using your interest you pay. Itís just all accounting moving the numbers around.
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Old 03-13-2019, 09:59 AM
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When I bought my '19 Z06 back in November, I was originally going to pay for it in full with cash. My sales guy was able to shave off 10% from the sticker price. Once I learned about the 0% interest deal though, I decided to take advantage of it and financed $10k @ 36 mos. My sales guy had no issues with this and the original price we had negotiated never changed.
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Old 03-13-2019, 12:23 PM
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toddhale010


Correct me please, if any one on this forum has qualified for a C7 stingray @ zero percent financing and completed the transaction?


Today dealerships make an enormous amount on you financing the vehicle.

In fact most automotive adds today, are selling the financing cost, (Easy payments) not the vehicle.

By the end of your contract you have way overspent your budget, coupled with the fact you cannot write it off, necessarily as a business expense?

Perhaps their are a luck few on this forum that do write off their financing charges however?

NADA and Kelly blue book set prices on used, and new unsold vehicles!

The dealer can ask anything they want, but in the end it is an auction.

What will the potential customer pay for that particular vehicle?


Many thanks,

Ray

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Old 03-14-2019, 09:39 AM
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I just read on the Corvette Blog that there are 9,000 2019 Corvettes available for sale. I imagine when the C8 is released the prices will drop again and maybe 0% financing will come back. Sitting on the fence.
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Old 03-14-2019, 11:04 AM
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Originally Posted by Zjoe6 View Post
People generally donít understand the gimmick of 0% interest. All they are doing is rolling the future interest into the price of the car. So youíre paying for it. If you do financing like 3% then they will lower the price a little by using your interest you pay. Itís just all accounting moving the numbers around.
This is why I always take the discount!
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Old 03-14-2019, 02:49 PM
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We're definitely taking the discount. We're deciding between 2 cars right now and 1 of them is getting a new home next week. Both are leftover 2018's BTW
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Old 03-14-2019, 08:35 PM
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Curious if you were able to finance 0% and still get the same sell price, why would you only finance $10K at 0%? That's free money!

I would have financed the whole amount and kept your money in the bank earning some interest.

I am talking to a dealer right now on an '18 and they told me better off with taking the cash deal as they cannot allocate the same discount if I took 0% which makes sense.

I can get 2.99% 60 mths through the local credit union. Would cost about $4.2K in interest financing 100% of the car and not paying it out early.

The cash offer extra discount is like $5.5-$7.5K difference depending on the dealer and the model.
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Old 03-14-2019, 10:17 PM
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Originally Posted by 7spd View Post
When I bought my '19 Z06 back in November, I was originally going to pay for it in full with cash. My sales guy was able to shave off 10% from the sticker price. Once I learned about the 0% interest deal though, I decided to take advantage of it and financed $10k @ 36 mos. My sales guy had no issues with this and the original price we had negotiated never changed.
So far this is the best deal that has been offered if the dealership is discounting the car and 0 % for 36 months back in November. Maybe GM will do it again on the 19ís since there is so many. Depending on your finances the 36 month is not for everyone. It worked for me. I hate car payments. I will have my car paid off in 3 years. Should only have about 3000 miles on my car when it is paid for since I donít have a lot of time to drive it because of my job. But I will enjoy it for a long time. No intentions for a C8.
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Old 03-14-2019, 10:29 PM
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Ah - that explains it... THANKS!

AFAIK, the only 0% promo is for up to 72 months but that's in lieu of cash deal rebates.

Possible the rebates were not as rich in Nov as they are now so they could do both but only 36 mths 0% which most people could not float on this level of car unless they had a big down payment or cash to subsidize.

$60K over 36 months a $1,667 a month.
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Old 03-14-2019, 10:34 PM
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Originally Posted by Marc3 View Post
Ah - that explains it... THANKS!

AFAIK, the only 0% promo is for up to 72 months but that's in lieu of cash deal rebates.

Possible the rebates were not as rich in Nov as they are now so they could do both but only 36 mths 0% which most people could not float on this level of car unless they had a big down payment or cash to subsidize.

$60K over 36 months a $1,667 a month.
No problem,
Yeah depending on your finances yes it is a lot for someone to do the 36months. This is why GM is doing the 72 months but it is only for 18ís. I think the 19ís would really move if they offered it on 72 months.
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Old 03-14-2019, 10:44 PM
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HorsePower Junkie
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Originally Posted by boss2k View Post

...that's the catch
with 0% you won't get any discounts.
Plus it's on 18s only
.
GM financial offers the 0 per cent financing (not the dealer) on the price after you negotiate your deal with the dealer.

The 0 per cent is not an offer only if you pay sticker price with no discount.

The selling price you negotiate is separate from the financing. You get the 0 percent after you make the deal with the dealer...


.

Last edited by HorsePower Junkie; 03-14-2019 at 10:47 PM.
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