time to buy???

I am not looking but any one thinking about a new truck, many dealerships are currently offering good rates with no payments for 6months. definitely had me thinking about it.

 

6 months no payments on all models?

 

I see Toyota is offering no payments for 90 days. Does the interest accrue for the 90 days that no payment is required?

 

always does.

 

Then what’s the point?! (Thanks ArmyGreen for answering me)

 

I've never understood offers like this on any product. If one cannot make the first payment, it doesn't help to push it out. It also extends the loan payoff date (+ adds interest as mentioned above).

Dan

 

yea, i am in richmond and they have been advertising all models 6 months no payments, few other makes and models but they don't matter, lol. Some are deferred some are paid by dealerships, 3 months worth, but if your making payments anyway could save free up a chunk of money for 6 months for some people right now. Either way you end up paying it in long run

 

Pass

 

Rebates and incentives will get better as new car sales are going to take a beating this year IMO.

 

For all you guys questioning "deferring" payments and the interest accrued for the 6 months let's say....

Your interest accrues but at 0% 0.9% 1.9% that these manufacturers are offering now due to the issue at hand..... We're talking dollars On money you're paying in interest. $1.51/month in today's dollar value.

60 vs 66 months is like $100 total payoff increase.

In 5 years that will be even less because today's dollars worth more than it is in the future

 

wait...it only gonna get worst...chevy already offering 0% on trucks for 84 months...
I'm not interested in a gen 3 though. waiting for gen 4....zzzz..zzz

 

You’ll also get a better deal at the end of the year.

 

I think GM is offering 30-year vehicle mortgages at 0% right now.

 

Better private party used deals now since people are going broke and don't have enough money to buy TP.

Dealerships will only go so low. They will just lay off their employees if cars aren't selling

 

Too bad a Chevy wont actually last 84 months.

 

I would give it a couple weeks....going to get worse before it gets better and I would bet auto manufactures will sweeten the deals.

 

Right now is also a really good time to invest the few thousands saved in payments in the stock market that will recover eventually. Companies like uber, airlines, and cruise lines are all cheap right now.

 

Deferred payments end up making the truck cost more.

 

Yup,

Take that damn near 0%, defer for a few months and take that cash to invest!

 

See post #10.

The additional "cost" is literally nothing.

 

at .9 interest I see your argument, but many do not qualify for rates that low.

 

I, personally, have yet to pay more than 1.9% on any vehicle. I guess I'm lucky.

With that said though, current issues - mfgs may use a low interest to get people through the door and make a purchase. So it may be something more people will be able to take advantage of.

 

You're lucky. 6 figures of student loan debt have me in a position where I struggle to get rates below 4.5%