Please tell me who has ever qualified for 0% interest on a car loan?!

[gx89]

I was going to buy a less than 1yr old car w/ 7k miles on it. Me and the wife both 800+ w/ stable jobs a mortgage and no late payments ever on CC or Mortgage. I am a lock for 0% My 30yr mortgage is 3.5%. Since this car was used I knew 0% wasn't a option they offered me 4% If I took the extended warranty 3% I offered to pay cash. The guy flat out told me I beat them down on the price and hes not making money unless I finance at his rate or buy a warranty. I walked out 3 weeks they called back said i can have the car for cash. Your brother qualified, he got caught up on there game so they can make $$.

[pkbab5]

Originally Posted by BostonMike7

Anytime you go car shopping...expect to have to walk out.

More than that, anytime you go car shopping, plan to walk out.


This is the way my dad taught me to car shop: first don't go in the dealership unless you already have the cash or have already got a good quote from your own bank for financing.


Next step, never ever buy a car the first day you walk into a dealership. Always walk out. Always. Always visit at least 3 dealerships. Pick your favorite 2, and then go back and forth a few times between the two and let them compete for your business. Don't let them think you are going to do anything but 100% finance with them, you're just "looking to see if he can beat the other guy". If you can't find another car at another dealership that you like, then just make one up.


After you have completed this process (which should take a few days to weeks) and you are convinced you have the very best price, then go in, get the price in writing, THEN pull out your checkbook and say "oh yeah, I'm paying cash by the way".


Then buy your car, and try not to feel too sorry for the guy. It's just business.

[IShootNikon]

Originally Posted by pkbab5

More than that, anytime you go car shopping, plan to walk out.


This is the way my dad taught me to car shop: first don't go in the dealership unless you already have the cash or have already got a good quote from your own bank for financing.


Next step, never ever buy a car the first day you walk into a dealership. Always walk out. Always. Always visit at least 3 dealerships. Pick your favorite 2, and then go back and forth a few times between the two and let them compete for your business. Don't let them think you are going to do anything but 100% finance with them, you're just "looking to see if he can beat the other guy". If you can't find another car at another dealership that you like, then just make one up.


After you have completed this process (which should take a few days to weeks) and you are convinced you have the very best price, then go in, get the price in writing, THEN pull out your checkbook and say "oh yeah, I'm paying cash by the way".


Then buy your car, and try not to feel too sorry for the guy. It's just business.

Sorry, but that's being a douche. I hate buying cars as the next guy but I like to be upfront. If I'm financing I'll tell them I have financing already but feel free to beat my banks rates.

[TimtheGuy]

Originally Posted by kcatheart

So then the general consensus is that they scammed him? He definitely should Have qualified with the numbers as is?

that is correct. pretty common i think.