Zero % percent Car Finance

[IkilledSpongebob]

I'm just wondering what the car market will look like in the next 3 or 4 months.
I've been looking at the developments in the US, the efforts being made to keep their economy afloat.
Lots of talk about zero percent finance deals.
My car is way past overdue for replacing. It's going to be difficult financing (as goes for everyone)
Will have to stick to buying some sort of klutzy econobox though. New or used. Just don't fancy the latest 1.0 L tin cans. But as they say beggars can't be choosers. Would Prefer an SUV or MPV and a Toyota Avanza is too pricey.

 

[3WA]

Zero % financing is easy to get. As in, the bank lends you zero % of the purchase value.

 

[Magnum]

Zero % financing is easy to get. As in, the bank lends you zero % of the purchase value.

No. at 0% they still make 50% of the value.

 

[IkilledSpongebob]

Are 0% APR Deals For 84 Months A Bad Idea?

With over a half dozen auto brands now offering 0% APR for 84 months in response to COVID-19, new car buyers may be wondering if

www.carsdirect.com

 

[IkilledSpongebob]

What's to lose on a 0% car loan? Or 120 days of no payments? Plenty

Automakers know that financial incentives must outrun the nagging feeling in the customer's mind that somehow something else could go wrong here.

www.freep.com

 

[TEXTILE GUY]

Should what the prices of bicycles has done - with the stay at home orders around the US, loo paper and bicycles are rare .... cars - not so much.

 

[Zophos]

So, as far as my limited knowledge goes, the bank gets a loan from the Reserve bank at a certain rate, thus you will not get a loan from the bank for less than that rate...

Banks are businesses, thus if they do not "make" money from lending money, there is no business

 

[Hamster]

My car is way past overdue for replacing. It's going to be difficult financing (as goes for everyone)

Second hand market might get flooded with "cheap" deals. Take me for example - if WFH continues after this we have no use for two cars