Auto Buying Tips and Secrets - Zerp Percent Financing Facts and Fiction
Do you qualify for Zero Percent Financing, and even if you do is it the wisest decision to use that option?
Do you have great credit and want to be part of the "0%" Interest financing?
The term on a 0% rate will almost never be longer than 24-36 months. What happens when that term is over and you still have a balance remaining?
A very big factor to consider when weighing the decision of choosing 0% Interest is: WILL you have it paid off in the required amount of time? Refinancing rates on a used vehicle are never as low as New Car rates; therefore, getting a guaranteed rate for a longer term right up front could ultimately be your cheapest route to take. Calculate the difference between using a dealer rebate or manufacturer incentive with a typical interest for your current credit, versus getting 0% financing without those incentives. Usually it is an either or choice!
