[seeker1950]

Okay...so I'm looking at a GM car, which, on the official Internet site of Chevrolet says, in my area, I can get 0% financing on the model I like. I got the same story when I bought my Hyundai in 2002, and accepted it. I am wondering if it is up to the dealership to allow this option in financing???? I told the salesman on the phone today, I would NOT buy the car without the 0% financing.
Also, on used car value websites, it says my Hyundai is worth $6000 in trade-in value, but on the Internet Chev website calculator, it assessed my car at between 2500 and 4500. What's that about?
Just wondering if any of you have experience in this sort of thing and any advice!
Patty

Patty, do you belong to a Sam's Club? They used to have the ability to send you to a dealer that agreed upfront on the profit and such. I've bought pickups through them and always get a really good deal. You might check your local Sam's Club...... the salesman was totally honest with me. I faxed him a note on what I wanted and he took care of it. I never had to sit and wait for the "while I see what my manager can do on this for you" mumbo jumbo.......and I saved a good amount of money on both trucks.

[(JD)]

Plenty. A used car is always more valuable to the owner if you can sell it personally. There are a few "blue books" and it depends upon which one your dealer uses. Plus, many dealers make up what they lose on the sale of a new car, by what they don't give on the trade in value of the used car

The offers come from the main office/factory, not the dealership. So unless they post that not everyone qualifies for the 0%, they have to give it to you. Often the price of the car is higher if you go with 0%. Cash deals are always better. Even if you can't afford to do that, check with your bank first, give them all the details on the car you want to buy (leather, sun roof etc) and let them tell you what they would loan you to buy that car. If you can do that, it's cheaper anyway usually. But at least you will have the honest value of the new car that way.

Don't trust anything the salesman says.
Have all the paperwork in writing ahead of time to read.
Don't walk in and buy the car. get info and leave! This is hard, but you are less likely to get taken on every detail this way.

check with the better business bureau for what type of complaints are filed against the dealer.

Good wishes!

[Perna]

Your Chevy website calculator will probably agree with the Kelly Blue Book value: http://www.kbb.com/

Look up the new car you want too; it will tell you what the dealer paid for it too.

Watch the "deals" -- the more cars a dealership buys they get a "bulk" deal just like you would at Sams Club :-) If you go to a huge dealership, because they buy more cars from the manufacturer they can sell them for a bit less than the others so they can cut into their "hidden" profit more. If you take the 0% option, they're likely to bend less so the car will actually cost more so they don't lose anything. No "deal" is offered to help you; it's ALWAYS to help the dealership, whether to get people in thinking they're getting something for nothing (0%) or whatever. I would try to do like Sky says and pay for the car. The "gimmick" is if I went in willing to pay 6% on a 23,000 list price car and you insist on a 0% loan I could get the car for $19,000 (plus the loan interest) or something and you'd get it for $21,000 or whatever the difference in the interest payments would be. So, read the Kelly to find out better what they pay, what the "dealer" cost is (which is only on that one car so they'll happily show you their invoice even, lots of dealerships do that too, but the "bulk" buying gets them an even greater discount and that amount isn't available to know because one doesn't know what deal they have with Chevy/how many they bought at once, etc.) and make sure they know you know it.

The Chevy site is always going to be higher than any dealership you go to, the dealership wasn't to be THE dealer in your area to sell you that Chevy so they have additional competition with other dealers for you whereas Chevy doesn't. So, shop dealers too; you might get a better deal with a larger dealer but worry about their repair shop and service, etc. as it sucks to get a good price but then have a really crummy service department, been there, done that. The larger, cut-throat dealers often have the worst service departments because they don't pay their mechanics well, have younger/less experienced (cheaper) mechanics, lots of turnover, etc. So put all the "hidden" costs in your decision to get the best mix for you.

[(JD)]

Yep. If you can also compute the cost of the options, that helps you bargain for the price better. It used to be that options cost the dealer 80% of what they listed for... I don't know if that's still true, but find the percentage and begin bartering. Also, go to a dealer where they are in a sales contest... sometimes a salesman will cut his take if he only needs one or two more sales to win that week...and by winning he gets a higher cut from dealer BTW you don't have to take the salesman assigned to you... check out their sales board When I buy a car, I want the same salesman there in 3 years when it has trouble or I'm ready for a new one, etc.

Go to a dealer that doesn't carry your Chevy and talk to them about the car. SOmetimes they have complaints that are genuine, in effort to show their cars as superior. AND sometimes, they can buy that chevy for you anyway, and give you a good deal, just to get a sale they otherwise wouldn't. (They all have connections and barter with other lots daily.)

All in all, the true 0% is a good deal. No reason to pay someone interest. IF however the fine details are that if you are late on ANY payment, that you are penalized... don't sign! Usually someone with good credit/ good credit rating (750 and up) can pretty much get what they want for the price that is appropriate. It pays to view your credit reports first, and clear up any errors that might be on them. You get one free each year from each reporting agency...of the big three.