Car financing question

[blakbearddelite]

This may be a stupid question, but so far everyone I've asked did not have an answer....so maybe it's not so stupid. With the 0% financing most manufacturers are offering, there is something in small print about $17 per $1,000 financed. What are they talking about? I just assumed that financing a $30k car with 0% interest for five years would be $30k/60 months = $500. Is that not the case?

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[Bru]

Even with this figure, it still works out to 500 per month. On Pontiac's 0 percent for 60 months, it's "for every $1000 you finance is $16.67 for 60 months."

So 30,000 would be 500.1 per month.

 

[blakbearddelite]

I just checked out the Stryker Blue G8 in St Charles. That color is tits! I think I may have to go with that one. I had seen it on the road before, but not close up.
If there is a minor scratch on the bumper, don't they fix that up for you if you're buying it?

 

[02BlueGT]

I just checked out the Stryker Blue G8 in St Charles. That color is tits! I think I may have to go with that one. I had seen it on the road before, but not close up.
If there is a minor scratch on the bumper, don't they fix that up for you if you're buying it?

You can normal negotiate them fixing it, or knocking some $$ off the price

 

[Turk]

I just checked out the Stryker Blue G8 in St Charles. That color is tits! I think I may have to go with that one. I had seen it on the road before, but not close up.
If there is a minor scratch on the bumper, don't they fix that up for you if you're buying it?

If it's a minor scratch ask for extra money off the price, otherwise they'll just fuck the bumper up worse by trying to fix it.

 

[Bru]

I just checked out the Stryker Blue G8 in St Charles. That color is tits! I think I may have to go with that one. I had seen it on the road before, but not close up.
If there is a minor scratch on the bumper, don't they fix that up for you if you're buying it?

Did they have a price listed at the dealership? I know there wasn't a listed price online.

 

[Angus]

Guess who has test driven that car already

 

[Aircal]

price it out both ways. With doing the 0% and again with taking the cash back. You should be better off taking the cash back and using it towards your dp.

 

[blakbearddelite]

Guess who has test driven that car already

The pedo bear drove that car?!? I better check the back-set for bodily fluids. They have it right up front on the ramps.

 

[RebelGTP]

Guess who has test driven that car already

did you fart in the seat so he had to sit in your stink?

 

[Runtz52]

yea that $17 is the finance charge which is what they charge for taking out the loan, when i got the pacer it was $50 on top of the $3200 and then i think like a 9% interest rate so total was 3550 of around there, that 0% is the interest rate. so ur payments should be in the $500 range give or take some change, good luck with the purchase and that stryker blue is tits

 

[98GTPDriva]

I already called it! NO ONE can have Stryker Blue, but ME!!!

Just kidding... I love The MSM color, but Stryker Blue is where it's at, and there aren't many on the road. I have only see a few G8s periods, all white or black.

 

[blakbearddelite]

I already called it! NO ONE can have Stryker Blue, but ME!!!

Just kidding... I love The MSM color, but Stryker Blue is where it's at, and there aren't many on the road. I have only see a few G8s periods, all white or black.

That is another reason I like that color. I have only seen one on the road so far. The problem is getting a deal on one. I don't know why, but I think I'll have a hard time getting a good price on that color.

 

[Angus]

keep the gran marquis and you would have red, white and blue cars... how patriotic.

 

[andcbii]

This may be a stupid question, but so far everyone I've asked did not have an answer....so maybe it's not so stupid. With the 0% financing most manufacturers are offering, there is something in small print about $17 per $1,000 financed. What are they talking about? I just assumed that financing a $30k car with 0% interest for five years would be $30k/60 months = $500. Is that not the case?

1000 / 60 = 16.6666667 so they just round to 17. Thus 30*17= 510 monthly pmt. I'm guessing this is what they are doing.

 

[blakbearddelite]

1000 / 60 = 16.6666667 so they just round to 17. Thus 30*17= 510 monthly pmt. I'm guessing this is what they are doing.

Gotcha, so it's not completely 0%. They bury some kind of loan fee in there. But still, $500 compared to $5k it still great.

 

[blakbearddelite]

keep the gran marquis and you would have red, white and blue cars... how patriotic.

If I had the garage space, I would consider it. But one car garage and three cars would be a bitch. A sibling of a coworker might be interested in buying it.

 

[Bru]

I don't think it's a loan fee. The fine print says very clearly "Monthly payment is $16.67 for every $1000 you finance."

I don't know why they do this, but regardless it adds up correctly.

 

[Bru]

I don't think it's a loan fee. The fine print says very clearly "Monthly payment is $16.67 for every $1000 you finance."

I don't know why they do this, but regardless it adds up correctly.

 

[blakbearddelite]

You would think as an accountant I would not be having a problem with this. I guess I'm a better in accounting than finance.

 

[Angus]

That's what I was wondering lol

 

[blakbearddelite]

That's what I was wondering lol

It just goes to show you that accounting and finance don't always go hand-in-hand. I got B's in finance, but A's in accounting.

 

[Runtz52]

I don't think it's a loan fee. The fine print says very clearly "Monthly payment is $16.67 for every $1000 you finance."

I don't know why they do this, but regardless it adds up correctly.

its not a loan fee per say, they call it a finance charge

 

[Eagle]

Marky, I am so coming over once you have the new keys in hand.

 

[skeezer]

I don't see why you're worried about this; you should be worried about how you're going to hustle your way into a smaller payment.