Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: Lonesome in Massachussets

I bought a 2022 GMC Canyon and was prepared to pay the balance after trading in my 2016 Canyon with cash.

Stuck the best deal and they had a three year zero interest rate offer. So in that case I went with the loan. But normally I would never borrow money to pay for a vehicle.


69 posted on 04/15/2024 1:16:11 PM PDT by CodeJockey (I'd like to change the world, but they won't give me the source code.)
[ Post Reply | Private Reply | To 68 | View Replies ]


To: CodeJockey

Be careful. I am sure you are, but those interest free loans often have snapback with punitive interest rates if you miss a single payment.

Dealers often make as much off the finance contract as they do off the sale. Negotiate your best deal, while leading the dealer to think you might have to finance. When it comes to close, decline the financing. You can probably get a better rate from your credit union anyway.

But you are correct, best bet is to save up and pay cash. Self discipline will make you rich.


74 posted on 04/15/2024 2:14:49 PM PDT by Lonesome in Massachussets (Perdicaris alive or Raisuli dead!)
[ Post Reply | Private Reply | To 69 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson