0% Financing or the Rebate - That Is the Question!

Tony,

Your website is very helpfull. I'm going to be buying a "new" car soon (actually '08 model that the dealer is trying to get rid of).Your site gives a lot of advice on the benefits of arranging your own financing, however, the dealer is offering me 0% financing for 60 months, and the best I'll be able to get if I arrange my own financing is around 6%. Keeping this in mind, is there some advice you could give me about the best way to finance my new purchase?

Many thanks -Daniel (Los Angeles, Ca)

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Hi Daniel,

Well obviously, 0% financing would be an exception to my rule of arranging your own financing! Letting the dealer handle 0% financing is a pretty safe bet for you. The rate is through the manufacturer so it's a safe deal.

Just be sure to watch that the Finance Manager doesn't add anything to the loan that you don't want. Also, you may want to find out if the 0% financing is in lieu of a rebate. If so check to see which way you come out the best - taking the 0% financing, or taking the rebate and getting your own financing.

Tony Iorio
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