0% financing on what models?

Las Vegas, NV–  O%  financing for 60 months isn’t gone yet. However it will be a distant memory if Chrysler and GM turn to bankruptcy reorganization to salvage the remains of their business’.  The problem isn’t attracting buyers to the 0%, it’s getting those anxious consumers auto loan qualified.  The rest of the car buyers are struggling with debt overload and high payments based on interest rates over 15% . Negative equity in their trade-ins and minimal cash down payment add to the woes. The dealers want to sell cars, but the auto loan stranglehold is choking the delivery process. 0% has little to do with auto loans and more to do with marketing.  For those with savings, the idea of no interest for five years may have been the way to get the money out of the mattress and into a new car.  The more expensive the vehicle, the bigger the interest savings over the term. However, if the car was traded , stolen or totalled before the end of the loan, the owner lost some of the incentive.   Today almost all General Motors, Buick, Chevrolet, Cadillac, Pontiac vehicles have 0% for up to 60 months for the wholesale value of the car. Taxes and fees must be covered with a down payment. Consumers must have a minimum 700 FICO credit score and a debt- to- income ratio of 75% available, in most cases.  The 72 mos. for 1.9% is an attractive alternative on the 2009 Escalade, Chevy Tahoe and GMC Denali, keeping the payment around $800-$900.00 a month. Chrysler, Jeep and Dodge are trying to stay competitive by offering 0% on 2009 models for 36 mos. up to 5.9% for 60 mos. Hardly a fair fight in the interest game, except where less expensive models are involved. The argument can be made that on a car under 30k, the idea of paying the car off sooner may be more appealing to the over 50 yr. old consumer, less worried about the higher monthly payment.  The import brands are not offering 0%, and only recently announced 2.9% to 5.9% for their preferred clients. The interest rate advertising was a back-handed effort to minimize any negative feelings from cash strapped consumers.  In difficult economic times, anti-foreign sentiment can rise, even with a general understanding by the American consumer  that most Toyota, Nissan, Honda, and Hyundai cars on the road today are built in the US and a large percentage of Chrysler 300, Dodge Minivan and Ram trucks are built in Mexico or Canada. Protectionism aside, the need to get the US car business moving requires assistance from all sides, including the consumer. Fear has driven huge cash allotments out of the stock market and into the savings account. Saving for a rainy day was common saying in the homes of many baby-boomers. Well folks, the rainy days are here and making good financial decisions will move those rain clouds faster than a lot of sideline moaning and groaning about the stock market losses. (I know from whence I speak, I feel your pain.)  There are an estimated two million vehicles over ten years of age that should be retired for scrap. I’m not going to go on a rant about Cash for Junkers, but I do want to say, those who have a stable income and a car over ten years of age should consider this a great time to take advantage of a new car. The 0% financing, depressed car prices and auto sales tax credit for 2009 are great reasons to put a smile on your face driving down the road in a safer, more fuel efficient car. NEED AUTO FINANCE HELP or CREDIT report repair go to www.ecreditautoadvisor.com tell them MY CARLADY: Sarah Lee sent you. It’s a free consult and they do the right thing by you, fast, easy, cheap.If you want to know more about specific models with low apr’s or best pricing, contact Sarah Lee@mycarlady.com or www.mycarlady.comor follow me at TWITTER: @mycarlady.   Top learn more about getting your best car deal click here: CAR DEALS  Sarah Lee is an automotive executive with 20+ years of experience. She writers about Cars, and is a staunch consumer advocate on car related subjects. Her company: MY CARLADY is a car buyer’s service committed to getting you the best deal on your next new or pre-owned vehicle. You can reach her at www.mycarlady.com ]]>