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The Truth About Zero-Percent Car Financing!

It can be a dream come true for people with excellent credit. But for many car shoppers, zero-percent financing is simply not feasible.

Statistics from CNW Research show that only about one-third of buyers who apply for zero-percent financing actually qualify.* And among those, only around 10 percent actually close the deal, according to the National Automobile Dealers Association.**

Why so few? Because of drawbacks like these:

  • Shorter loan terms. Some dealers offer 60-month terms, but 36 months is more typical--which means higher monthly payments.


  • Fewer models to choose from. The customer may be limited to what's in stock, and therefore, not able to buy the vehicle they truly want.


  • No rebate. The customer may be asked to choose either zero-percent financing or a cash rebate.

Can a customer do better than zero-percent financing?

Sure!

By financing with a low rate from Standard Auto Financial and taking a dealer's cash rebate (if available), a customer could really save big!

  36-Month New Car Loan Comparison

Annual Percentage Rate 0% 3.99%
Cost of Car $20,000 $20,000
Less Equity in Trade $4,000 $4,000
Less Rebate $0 $2,000
Amount to Finance $16,000 $14,000
Monthly Payment $444.44 $413.27
Total Cost $16,000 $14,877.85
SAVINGS $0 $1,122.15

*Source: Consumer Reports online; November 2002.
**Source: NADA Chief Economist; November 2002.

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Car Loan Info & Payment Quotes:
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      Financial
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For "Poor Credit"
    1800FreshStart.com
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   VinAudit.com


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