The car ads on tv

[kalster]

when they show the montly payment
for leasing or owning a new car

WHO gets such low rates?

i have seen ads for jags, mercs with payment as low as 299 or 399/month


what kinda credit do you require?

 

[MustISO]

I'm sure somewhere in the 1 seconds of fine print they state the restrictions. I heard a radio ad the other day where the used the term "exceptionally qualified".

 

[Bekker]

Only the best qualified will get those rates, generally.

 

[Nohr]

The payment term is probably 20 years too.

 

[StageLeft]

High payment terms, high amounts you have to pay at lease signing deal, balloon payments at the end...they'll get their money. Sure you can get a saab for $300, but it might cost you $2500 at lease signing and $4k when you trade it in...and 12,000 on the car/year.

 

[Demon-Xanth]

I got a 0% interest rate on my car and I was only 23

 

[3point14]

I kept some decent credit from when I was 18. Basically 2 or 3 credit cards, no late payments, phone bill payed on time, no outstanding debt. I was approved for 0% for 60 months through GMAC when I was 22. My car payment is $367 a month on a $22,000 car.

 

[StageLeft]

Originally posted by: 3point14
I kept some decent credit from when I was 18. Basically 2 or 3 credit cards, no late payments, phone bill payed on time, no outstanding debt. I was approved for 0% for 60 months through GMAC when I was 22. My car payment is $367 a month on a $22,000 car.

I don't think he's interested in who gets a 0%, so much as how can they offload luxury cars at seemingly econobox prices.

 

[rh71]

0% is common nowadays... I don't see the point in leasing unless you really want that new car every X years.

 

[3point14]

Originally posted by: Skoorb

Originally posted by: 3point14
I kept some decent credit from when I was 18. Basically 2 or 3 credit cards, no late payments, phone bill payed on time, no outstanding debt. I was approved for 0% for 60 months through GMAC when I was 22. My car payment is $367 a month on a $22,000 car.

I don't think he's interested in who gets a 0%, so much as how can they offload luxury cars at seemingly econobox prices.

OiC

Those commercials are bunk. The minimum down payment I have seen was about $3,000.

What was the "$4k when you trade it in...and 12,000 on the car/year" you are talking about? They actually charge you when you bring it back?

 

[StageLeft]

Originally posted by: 3point14

Originally posted by: Skoorb

Originally posted by: 3point14
I kept some decent credit from when I was 18. Basically 2 or 3 credit cards, no late payments, phone bill payed on time, no outstanding debt. I was approved for 0% for 60 months through GMAC when I was 22. My car payment is $367 a month on a $22,000 car.

I don't think he's interested in who gets a 0%, so much as how can they offload luxury cars at seemingly econobox prices.

OiC

Those commercials are bunk. The minimum down payment I have seen was about $3,000.

What was the "$4k when you trade it in...and 12,000 on the car/year" you are talking about? They actually charge you when you bring it back?

Yeah I did hear of at least one lease with mercedes and there was a balloon payment at the end of your lease.