Quote:My former boss got a Dodge back in 2003 with 0% for 60 months.  No tricks, but he had a good credit rating and put 10% down.  Chrysler never raised the rate on him, and interest rates are even lower now. 

 

On the other hand, Chrysler did go bankrupt, so maybe the car companies figured out it wasn't the best idea in the world. 

 

I've seen them roll out the 0% for 48 months a few times on various makes in the last few years, but never on a model I wanted.  Because I never inquired, I also don't know if they mark the qualifying car's price up a few grand to make up the difference.  It wouldn't surprise me.

 

Gotta admit, I HATE dealing with new car dealer lots.

 

That's my point.  There is not a car dealership the will offer "0% down AND 0% financing", especially on a new or late model vehicle.  Refer to my above comments about putting 10% down on a large purchase.

 

Now think about this for a sec.  Say you want to buy a new vehicle that is going to cost $50,000.00.  At 10% that means that you only need to put $5,000.00 down on it.  How long would it take a median income person to save up $5,000.00?  If that person is disciplined enough financially to save up $5,000.00 for a down payment, is that person worth the risk of financing the remainder of the loan at 0%?  Probably.  What about a person coming in to buy the same vehicle that doesn't have a down payment?

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