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Old 07-17-2002, 07:46   #1 (permalink)
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0% interest car finance

back in the 70's when i lived in england, my dad bought a new car on 0% over 3 years. admittedly it was a hillman hunter, but my dad has never been a car nut. anyway, he got back this afternoon (and rsgerry has lots of nice toys to play with) and told me that vauxhall are doing the same again.

the best i have seen was about 3% on land rovers. the obvious drawback, besides the fact it is a ig waste of space, is that it is also a land rover, and as such, you will become very friendly with the break down men in your city .

besides that, i have yet to see any really special finance deals offered here. is it cos our market is too small? i would have thought that with a small market, the companies could afford to take a bath occasionally just to boost sales.

hell, if ford offer interest free deals on runout xr8's, put my name down!
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Old 07-17-2002, 13:57   #2 (permalink)
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Interest rates are relative. 0% interest is the norm for car financing in the US at the moment & is being used to support sagging sales by GM, Ford etc.
In OZ at the moment the market appears ready for a record year & everyone launching a new version of their 'big' sellers, so its unlikely we will see in the short-term.
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Old 07-17-2002, 14:32   #3 (permalink)
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Yeah, but wouldn't it be even smarter to offer it on BA just to give sales kick-off?

Who cares what negative perceptions it evokes - it won't stop savvy buyers lining up and with ppl taking advantage of the offer Ford sales could be up there where they should be.
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Old 07-17-2002, 15:19   #4 (permalink)
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Yeah I agree, I think this is a better way to move vehicles than offering price discounts which ultimately hurt us all with lower resale values.
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Old 07-17-2002, 16:58   #5 (permalink)
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I think one of the Korean makes did an interest free or low interest Deal lately. Alfa, Jag, and I think Holden were doing low 6% for some Commodores and HSV's?

Seems to be little "interest" by anyone else doing this - seems like Ford would prefer to do Falcon runnouts at 29,990 than any other offer????
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Old 07-17-2002, 18:48   #6 (permalink)
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I think sales of all AUís would of increased greatly if Ford offered 0% interest. It is a very tempting offer. It is like saving up for the car, but you get the car first.

I think Subaru offered 8% for their range. Still much better then a normal car loan.
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Old 07-17-2002, 20:08   #7 (permalink)
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I suppose the real question here is how low an interest rate is to motivate someone to buy a car now rather than wait?

Question: Given you are not ready to buy a new car now, what rate offer would motivate you to buy now?
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Old 07-17-2002, 20:42   #8 (permalink)
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I can't afford a new car right now, I'm only 20 and I think most people in my age group are in the same boat. If they offered little or no interest (little = no more than 3-5%) I would deffinately buy a brand spanking new BA.
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Old 07-17-2002, 22:26   #9 (permalink)
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How much interest is it at the moment?
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Old 07-19-2002, 18:56   #10 (permalink)
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Even taking interest rates out on $35000 car over 5 years you will still be paying $583 per month
35000/5 then /12=583.3333333

So if you can find that much spare then a bit extra for interest isn't going to add a gigantic amount to that.....
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