[AppyPappy]

Car dealerships aren’t in business to lose money on cars. It may be “low interest” but they will find a way to screw you.
No matter how you slice it, you are buying a car you can’t afford. That’s why you need a loan for it.

[cuban leaf]

No matter how you slice it, you are buying a car you can’t afford. That’s why you need a loan for it.

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That is not valid logic. I know a guy who bought a car on a six year loan even though he could pay cash. The cash could do more “work” than the rate on the loan. It was a no brainer.

The reason they give low or zero interest loans is that they are still making their required profit on the car at the end of the day, even at that interest rate. That’s really all it is. We all work to earn a living. Car dealers are no different. They can actually be very honest enterprises although I always consider this angle of human nature: The more money that is involved in a transaction, the greater the temptation to be dishonest.

[Graybeard58]

Car dealerships aren’t in business to lose money on cars. It may be “low interest” but they will find a way to screw you.

Not relevant to the point that credit card interest is generally higher than car loan interest, the couple in the article had both. They might be getting screwed on whatever they bought on their credit card too. The last car I bought was in 2012, they had a "no interest" deal or $500 "cash back", after doing the simple math, I settled for "none of the above" and paid cash.

I don't do trade ins anymore either, I either sell my old car or give it to one of the g/kids if I can't find a buyer, there's always a needy g/kid in college somewhere, I have 14 of them.