I was just running some numbers and built a truck on gmfleet.com and noticed they're offering 0%. Is this something that's always available or will I miss out by waiting?

It's never available from banks, but sometimes dealers get it from their corp. finance departments on the stuff they really want to move. Doesn't get much better than 0%. I have 0.9% for my car and feel like they're fleecing me. LOL.

I don't think it's always available, but it will always be available again, yet you don't know when that might be.

How long can you wait?

Another caveat, a lot of dealer make you give up some/all discounts & incentives in order to get 0%.

Run the numbers both ways.

With my previous auto purchases, 0% APR is not always the best route. They require a “Tier 1” credit score, 800+ (that is what I have been told at the dealership). If you qualify, they will NOT negotiate on the selling price, and will sell you at MSRP or sticker price. They will also not give you any available discount/rebates. Each manufacturer and dealership will be different.

My mom was able to purchase a Honda Civic years ago at 0.9% APR for 60 months, and they let us negotiate the price down.

quote:

Originally posted by ador:
If you qualify, they will NOT negotiate on the selling price, and will sell you at MSRP or sticker price. They will also not give you any available discount/rebates.

Nah. Remember, sales and financing are handled by different people at the dealership and you generally don't see the finance folks until the deal on the vehicle is already done. And at this point any rebates and incentives have already been factored into the deal.

0% is a corporate promotion, but there is one very important aspect before you sign on the dotted line. READ THE ENTIRE LOAN AGREEMENT before signing it. Cut rate loans like these 'can' include some rather ugly provisions and requirements. Just make sure you know what you're getting into.

The dealer, and the parent corporation, will make money. If you're getting a loan for 0%, then you can bet the profit based on the vehicle price is enough to offset the risk being assumed by letting you have their money for dozens of months.

There are no "free lunches."

quote:

Originally posted by ador:
With my previous auto purchases, 0% APR is not always the best route. They require a “Tier 1” credit score, 800+ (that is what I have been told at the dealership). If you qualify, they will NOT negotiate on the selling price, and will sell you at MSRP or sticker price. They will also not give you any available discount/rebates. Each manufacturer and dealership will be different.

My mom was able to purchase a Honda Civic years ago at 0.9% APR for 60 months, and they let us negotiate the price down.

I was able to negotiate down a decent amount and got 0% on my Mazda 3. Credit score around 820.

quote:

Originally posted by ador:
With my previous auto purchases, 0% APR is not always the best route. They require a “Tier 1” credit score, 800+ (that is what I have been told at the dealership). If you qualify, they will NOT negotiate on the selling price, and will sell you at MSRP or sticker price. They will also not give you any available discount/rebates. Each manufacturer and dealership will be different.

Not true.
I purchased a new Toyota in 2004 and got very aggressive pricing and 0% financing. In fact, it wasn't all that difficult.

You can always negotiate the price down, regardless of what financing you take.

Generally 0% financing is available often for buyers with excellent credit, BUT it is usually always instead of rebates and incentives you would get without the 0% financing, that is how they make the 0% work. 0% is through the auto manufacturer, the dealer has nothing to do with what rebates, incentives, and 0% financing qualify.

I’ve bought under invoice (several thousand under several times) and got 0%. Like said above you negotiate on the vehicle itself before ever discussing finance terms. If you are in an office doing both at the same time you do not know how to negotiate and have already failed.

0% won’t last in the long term. As already said above also, 0% is manu financing, straight from their bank. That’s the only way you can get it 99% of the time. My credit union is lower than banks and tier 1 credit auto loans are at 1.9%. If you can get a good deal on the vehicle and get 0% financing I’d do it. All loan rates are based on the Fed and from what I’m reading the % is going up not down. There will still be 0% deals in the future, just more scarce.

quote:

Originally posted by arcwelder76:
I don't think it's always available, but it will always be available again, yet you don't know when that might be.

How long can you wait?

The plan was to wait until we pay off the wife's car. I believe 10 more payments. I'm hoping the truck holds together. We got the wife's car at 0% and it may be psychological but it's nice to see the amount you pay come off the balance.

I don't know if this matters but I'm not going to be buying off the lot. I'll be ordering a specific vehicle. How does negotiation work in that case? Do I grab my spec list and then talk to a dealer that will keep trying to sell me one that they think is "close enough" that they happen to have? I also have GM family discount available that has some effect on price.

quote:

Originally posted by mark123:
I don't know if this matters but I'm not going to be buying off the lot. I'll be ordering a specific vehicle. How does negotiation work in that case? Do I grab my spec list and then talk to a dealer that will keep trying to sell me one that they think is "close enough" that they happen to have? I also have GM family discount available that has some effect on price.

If you know exactly what you want. Email several dealers in your state when you are close to ordering with the exact options you want and come to an agreement on price. You probably can build the vehicle on the GM website (you can on ford) with the exact options etc and it will give you a sticker price of what the vehicles msrp is. I ordered my 2018 expedition and everything was set on price when I ordered it.

Generally incentives/rebates/financing/lease prices change month to month. I was able to lock in the current ones when I placed the order or let the chips fall where they may when the vehicle came in, which I did the latter since it was a new model and the current incentives sucked when I placed the order.

0% comes and goes. If you order, you will get the incentives that are available at the time of delivery.

Shoot me your specs and I'll give you some pricing to keep your local dealers honest. I will include rebates and incentives available to commercial customers.

Incentives are rarely better than what is offered through GM employee/family discounts. I can sometimes beat them with Fleet rebates

quote:

Originally posted by BigSwede:
0% comes and goes. If you order, you will get the incentives that are available at the time of delivery.

Shoot me your specs and I'll give you some pricing to keep your local dealers honest. I will include rebates and incentives available to commercial customers.

Incentives are rarely better than what is offered through GM employee/family discounts. I can sometimes beat them with Fleet rebates

Can I just do the deal with you? Does it matter that were in different states?

I'd really like to wait for the car to be paid off first.

quote:

Originally posted by DMF:
The dealer, and the parent corporation, will make money. If you're getting a loan for 0%, then you can bet the profit based on the vehicle price is enough to offset the risk being assumed by letting you have their money for dozens of months.

There are no "free lunches."

Yup. They are getting you on the loan, the new car, or the trade in.

Or they'd be out of business.

You can. You'd be surprised at how many trucks I sell out of state, especially to the north east. They all say I am a lot cheaper than their local dealers. Don't know how, all dealers pay the same for the trucks.

If you are looking at the 1/2 ton trucks, ordering shouldn't be a problem, except for regular cabs. The HD's are gonna be slim pickins until later this year when they roll out the new 2020 model

I always negotiate the best possible price (with the online sales group) before the discussion of financing is a thing. I shop this with multiple dealerships to confirm I'm getting the best deal within a reasonable amount of money.

When it's time to square up, I already have my financing in order. I have tier 1 credit, if the dealership wants to offer me something better, i'll consider it. I am NOT playing some bullshit game of "well, that's the price if you use OUR financing". Fuck off.

quote:

Originally posted by BigSwede:
You can. You'd be surprised at how many trucks I sell out of state, especially to the north east. They all say I am a lot cheaper than their local dealers. Don't know how, all dealers pay the same for the trucks.

If you are looking at the 1/2 ton trucks, ordering shouldn't be a problem, except for regular cabs. The HD's are gonna be slim pickins until later this year when they roll out the new 2020 model

I'm going to need a 2500. The 1500 isn't enough.