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Smart Shopper Rebates, Incentives, APRs - Questions & Comments
3978 messages, Last post on Nov 30, 2009 at 9:19 AM
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Replying to: paisan (Apr 05, 2007 12:29 pm) But you gave up cash to get that 1% I would guess. The conversation we were having had to do with the standard interest rates, not subvened or manufacture backed.
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Replying to: joel0622 (Apr 05, 2007 12:44 pm) -mike
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Replying to: paisan (Apr 05, 2007 12:50 pm) You are missing the point. SOMEBODY had to make up the difference between the artifical rate and what the real money rates were at the time. |
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Replying to: isellhondas (Apr 05, 2007 12:25 pm) Cars that are good sellers don't need this" isell--in general I agree with you, but if you lurk on Edmunds and the manufacturer's websites long enough you can find just about any car including strong sellers being offered with great manufacturer sponsored rates. Case in point: I was offered 2.9% last month for a Civic SI Sedan (all the Civics were being offered at the same regional rate) and 1.8% on a Mazda3 hatchback. I don't think either car can be considered a poor seller. I'm paying a whopping $250 interest on my Mazda loan. God bless Ford Motor financing--the working man's friend. I am happy to be able to take advantage of a Ford subsidiary while there still is a Ford. 8 years ago I bought a used car that had 10 3/4% interest (for excellent credit). Fortunately, I was only financing $4000/2 years and I still have that great car. I agree 6% is very reasonable although not as good as the 4.5% I had on my previous home loan. Gogiboy
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Replying to: paisan (Apr 05, 2007 12:50 pm) Craig et al were trying to tell you that 6-6.5% is a normal unsubsidized market rate loan, where the loan underwriter will not lose money. |
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Replying to: gogiboy (Apr 05, 2007 5:34 pm) Consumers were conditioned to expect low rate loans and/or cash incentives. On top of domestic cash back/0% craze, even the market loans were cheap (down to 4%) due to Fed rate cuts. That party is over, so maintaining low-interest loans means the incentives got higher. Of course, the stickers and invoices magically went up, too. So those manufacturers having successful products have APR incentives, but could have lowered the price with same results (at least on balance sheet). However, conditioned consumer may not believe that and turn to competition - thus everybody is stuck. I don't believe GM, Ford, or even BMW really want to own those cars they subsidize, but it's current reality and it will be for a while.
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Don't those low or "zero" rates come with fine print charging X amount of dollars per $1000 financed? Basically, you end up still paying for the money you borrowed, just as a flat charge per $1000, rather than as a percentage (hence, TECHNICALLY no interest). I was reading the fine print on one of those back when I was shopping, and realized that that charge, after all was said and done, added up to a higher interest rate than my credit union offered me. 
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Replying to: bpizzuti (Apr 09, 2007 1:58 pm) You read wrong. Try as you might it is what it is. 0% no interest nada, no charges, no service charge. The disclaimer you read is how much it cost to finance per thousand $$'s . For instance 0% on go months means your payment will be $16.67 per $1000 borrowed. The only manufacture I have ever heard of not running a fixed 0% is mitsubisi, but they run those 50 years of no payments crap also. |
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On another board someone was complaining that the rebates listed on Edmunds were not available at his local dealers. I thought that mfg. to customer rebates were not a dealer choice item. If Ford, for example, says rebate for your area the dealer can't say "Sorry we don't do that here". I could see if it was a Mfg. to dealer incentive but I checked Edmunds and the car this fellow mentioned had only mfg. to customer rebates. I have sometimes seen on Mfg. websites rebates mentioned with a "contact dealer for details" statement. Does this mean the dealer can play games with you?
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Replying to: oldfarmer50 (Apr 10, 2007 5:42 am) -mike |
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