Anyone take advantage of the 0% interest ?

[Steelfan]

I currently have a 99 GMC Sierra Pickup. In the spring of next year, I'm considering buying a new Pickup. I'm very interested in the 0% interest offers that are always being advertised. Has anyone taken advantage of them? Is there anything to watch out for? Also any chance of them still being around next spring? I'm really not ready to do this just yet. Just testing the waters for future reference.

Thanks Kent

[Hank]

Kent,

I think sometimes they are only for a fixed term that you cannot change, e.g., 3 years, or 5 years. Depending on the amount financed, the size of the payments on a 3 year loan might be a little steep.

[Mosey]

I heard the same thing on the terms of the loan. They're not offering the longer term loans, so the monthly payments are pretty high. That's just hearsay though, so it would be worth checking if you're serious. A new Chevy with the Quadrasteer sure is tempting!

[Hank]

I wasn't sure if the terms varied by manufacturer. My GMAC 0% in Dec. '01 was 3 year only, no options there. I didn't pay too close attention to it since my trade provided most of the cost of the new Suburban, and I only needed the loan to solve a short term cash flow issue, but yes, a lot financed over three years could be a hefty payment.

[TimSullivan]

Just read the fine print. Most of the 0% are short term 36 months or so but there have been some ads for regional incentives for 60 months.

Ten years ago I bought a Ford at .9% for 48 months. The dealer put everything into the loan. I paid nothing and got cash for my trade and points on my Ford credit card. Interest rates were a lot higher then so it was like stealing it was such a good deal. The car companies have smartened up now and put a lot of limits on what dealers can put in the loans.

Just put the calculator to work. This time around I took the $4000 rebate instead of the cheap financing.

[Steelfan]

Thanks Guys,

I checked the Ford, and Chevy websites for info. A 60 month loan will cost you, either 4.9 or 2.9 depending on model. The payment per $1000 borrowed are between $17 and $19 rounded off. Next question for me is about the new Ford Truck design. The F150 according to what I understand is been redesigned. Anyone seen this truck? Also why do the Ford engines have worse MPG rating then the Chevys? Thanks for the replies.

Kent

[DUMBDOG]

I do not know why the ford does not get as good of mileage as the chevy but no matter what you look at for the last few years, suv, pickup or motorhome, the ford has more power but poorer mileage.

[kokopelli]

i was able to get 0% on my 99 mazda for three years which they are now doing 4 years....but we have a dealer down here offering % on any new 02 or 03 chevy for 72 months! if i needed a truck i would seriously look into it. the only limit i have seen is that they require a 10% downpayment which kind of kills having 0% to me. but then again i am not buy anything right now so it really doesnt matter.

just keep your eye out there are some great deals around but i dont think they will be around for long....come spring you might see some on 02 trucks only.

[hazmat]

<font color="blue"> Next question for me is about the new Ford Truck design. The F150 according to what I understand is been redesigned. Anyone seen this truck? </font color>

The new truck is due out in 2003 as an '04 model edmunds '04 F150 . Don't know if the financing deals will be in place then.

I'm very happy with my '01 F150 supercrew. With my certified (by NY and MA's finest [img]/forums/images/icons/blush.gif[/img] [img]/forums/images/icons/frown.gif[/img] ) lead foot, I average 15MPG city/highway combined. This is with the 5.4L V8.

[kcbarnes]

I know this won't help as far as a truck purchase but in our weak moments we have taken advantage of 0.0% twice, a year ago with a mercury cougar and about 8 weeks ago with a chrysler 300m both for 5 years and have found no fine print.