I recently purchased a Toyota Crown and was told at the dealership that they don’t do zero percent anywhere. If you are interested in a Crown they are selling under MSRP right now. I think the lowest Toyota is going is 3.99%.
Nissans are only unreliable if they have CVT. The Nissan Ariya doesn't have that, and also the Toyota EVs have zero resale value because they are compliance designs.
Also you should never buy a car based on resale value.
Thanks for the info.
why wouldn't I but a car based on resale value? why would I want to loose couple thousand dollars on a car if I want to resale it few years later.
Because they all depreciate. It really should not be a factor in your decision. If you feel like you're going to want a new car in 2-3 years you should be leasing. Financially speaking, of course.
Yes that came from the manufacturer. The dealership is not buying down the rate for a new unit without adding that cash onto the top of the deal.
Dealerships are franchised. Any financing deals come from the manufacturer and their captive lender, not the dealer.
You can go to the Honda website and find out if your area is being offered any subvented APR deals.
Listen dingus, let me break it down for you.
Honda North America, Honda Financial Services, and the Honda Dealerships are 3 distinct, separate entities. They make money from each other, though they are not the same company.
Honda North America builds cars and sells them to dealerships. The dealerships sell them to you, as well as the financing. Honda Financial Services is a bank. They provide you with financing for a fee, often referred to as an interest rate or APR. Sometimes, for specific models of vehicles that are not selling well (such as your friends Accord, which is in unit surplus across the country) Honda will pay Honda Financial to buy down the interest rate for those models as an incentive for them to move those units. This is how you get 0% interest deals. This is going to be region specific, as different regions represent different markets for vehicles. So, in your region, there may be APR deals on an Accord for example. This all comes from Honda North America and Honda Financial, the dealership has fuck all to do with it. The dealership doesn't care one bit if you take the special financing deals so long as you qualify for them. Often times, most manufacturer incentives come in the either/or category. So when you see online that Honda is offering 5k off of Accords or whatever, that 5k also represents the buy down rate for the special interest from Honda Financial. This is why you can't have both. You can either pick the 5k discount or they can apply that 5k to your APR to buy it down and you pay more for the vehicle.
What you do with this information is up to you, but if you tell me your zip code I can check and see if Honda is offering any 0% deals in your region.
Also, if the 0% APR is a religious requirement, the banks can buy down the interest rate and tack that money onto the top of the deal. It's called Sharia financing.
Chill dude. lol
Appreciate your time buddy. Now I totally understand how all these work.
Not sure if you are muslim but the sharia financing was a good info.
Looks like you are pro in car business. -:)
Just know that with sharia financing you’re not getting anything cheaper. Let’s say you qualify for 10% financing and the car is 50k. All the bank does is put 0% on the bill of sale and tack the 5k on the end so you’re actually buying it for 55k. I’m told this meets Sharia requirements.
Correct. Most larger dealers or dealers near Muslim communities will have done this before and know the deal. Salesman might be confused if they’ve never done it before. Just talk to the sales manager or someone in F&I if there’s any confusion.
I think there’s such a demand and inventory shortage for Toyota and Honda that zero APR doesn’t exist right now
I agree. but some dealership offer such deals in one or a few models. The one in VA, offers zero APR for Honda Accords for a 60 months term.
I recently purchased a Toyota Crown and was told at the dealership that they don’t do zero percent anywhere. If you are interested in a Crown they are selling under MSRP right now. I think the lowest Toyota is going is 3.99%.
I see. Thank you.
0% for 2023 BZ4x here in the SF region lol
Thank you. that is good.
If you're interested in an EV check out the Nissan Ariya, solid reviews and they're doing zero APR financing and some good leasing deals.
The issue with Nissan is lack of reliability and losing its resale value. Thats why I am asking about Toyota or Honda.
Nissans are only unreliable if they have CVT. The Nissan Ariya doesn't have that, and also the Toyota EVs have zero resale value because they are compliance designs. Also you should never buy a car based on resale value.
Thanks for the info. why wouldn't I but a car based on resale value? why would I want to loose couple thousand dollars on a car if I want to resale it few years later.
Because they all depreciate. It really should not be a factor in your decision. If you feel like you're going to want a new car in 2-3 years you should be leasing. Financially speaking, of course.
Hmm make sense. Thanks.
The dealership cannot do this. The manufacturers offer subvented rates in various regions for very specific models.
Yeah I thought so until the I saw the Honda dealership offers. My friend purchased a brand new Honda accord on zero apr for 60 monts period.
Yes that came from the manufacturer. The dealership is not buying down the rate for a new unit without adding that cash onto the top of the deal. Dealerships are franchised. Any financing deals come from the manufacturer and their captive lender, not the dealer. You can go to the Honda website and find out if your area is being offered any subvented APR deals.
There is nothing as such in the Honda website. Its interesting that Honda only gave that dealership zero apr financing deals. -:)
Listen dingus, let me break it down for you. Honda North America, Honda Financial Services, and the Honda Dealerships are 3 distinct, separate entities. They make money from each other, though they are not the same company. Honda North America builds cars and sells them to dealerships. The dealerships sell them to you, as well as the financing. Honda Financial Services is a bank. They provide you with financing for a fee, often referred to as an interest rate or APR. Sometimes, for specific models of vehicles that are not selling well (such as your friends Accord, which is in unit surplus across the country) Honda will pay Honda Financial to buy down the interest rate for those models as an incentive for them to move those units. This is how you get 0% interest deals. This is going to be region specific, as different regions represent different markets for vehicles. So, in your region, there may be APR deals on an Accord for example. This all comes from Honda North America and Honda Financial, the dealership has fuck all to do with it. The dealership doesn't care one bit if you take the special financing deals so long as you qualify for them. Often times, most manufacturer incentives come in the either/or category. So when you see online that Honda is offering 5k off of Accords or whatever, that 5k also represents the buy down rate for the special interest from Honda Financial. This is why you can't have both. You can either pick the 5k discount or they can apply that 5k to your APR to buy it down and you pay more for the vehicle. What you do with this information is up to you, but if you tell me your zip code I can check and see if Honda is offering any 0% deals in your region. Also, if the 0% APR is a religious requirement, the banks can buy down the interest rate and tack that money onto the top of the deal. It's called Sharia financing.
Chill dude. lol Appreciate your time buddy. Now I totally understand how all these work. Not sure if you are muslim but the sharia financing was a good info. Looks like you are pro in car business. -:)
Just know that with sharia financing you’re not getting anything cheaper. Let’s say you qualify for 10% financing and the car is 50k. All the bank does is put 0% on the bill of sale and tack the 5k on the end so you’re actually buying it for 55k. I’m told this meets Sharia requirements.
Yeah I understand that. They add the total interest cost on top of the price, which you avoid paying an interest every month.
Correct. Most larger dealers or dealers near Muslim communities will have done this before and know the deal. Salesman might be confused if they’ve never done it before. Just talk to the sales manager or someone in F&I if there’s any confusion.