0% Financing on 2015's

[JoeVic]

What are the pros and cons of Fords 0% Financing

3, 4, 5, 6 year 0% Financing. Dealer is telling me put almost nothing down.

I was thinking about $10 K down and he says why ? You can finance the entire cost at 0% interest. There must be a catch.

 

[colintrax]

The catch is usually less incentives, they don't make it hard to get At 21 years old I got 0% and zero down on my chevy. No point in putting money down when you get 0% instead take your 10k and invest it (in something low risk)

 

[orangesoda123]

Like whats already been said, incentives are usually gone or cut way back. You also have to watch the prices. Dealers will sometimes inflate prices to cover losses from the 0% financing. I've been looking at new f-150's lately and a few dealers just jacked up prices once the 0% financing started.

 

[Odrapnew]

What colintrax said is accurate. Unless you are going for a specific monthly payment, don't put any down(if you get 0%) and invest your downpayment.

If you do go with 0 down, one thing to check into is Gap Coverage. That covers you if you total the car and owe more than it's worth. Gap Coverage will "cover the gap". There's a car insurance commercial floating around on that topic, I can't remember the name of the insurance company.

 

[hawaiiviper]

I would calculate with a low interest rate how much interest you would pay. Then see how much cash back they offer without the 0% interest. That's how you figure which is cheaper. Sometimes on the life of a loan you might only pay 1500 in interest but they have 2500 cash back as long as you get a good rate with the loan