GM Announces 0% for 60 months on EVERYTHING

Zane · April 1, 2003

Check it out in the news section!!

Firetiger(MN) · April 1, 2003

holy moly. Must be a catch somewhere? maybe?

k1500chevy97 · April 1, 2003

Geez I got screwed 1.9% from local credit union

BlackSilver · April 1, 2003

Geez I got screwed 1.9% from local credit union

Probably not. Do the math.....

You can get $3,000 rebate.......

OR

You can get 0% financing for 60 months.

Which is the better deal.

Let's suppose you make a deal, and the balance after trade-in is $20,000.

If you take the 0% financing from GMAC, your payments are $333.33 per month. 333.33 x 60 = $20,000

If you take the $3,000 rebate and finance the $17,000 at 2%, your payments are $297.97 per month. 297.97 x 60 = $17,878.20. You save over $2,000 by taking the rebate.

Suppose you could only qualify for a 6% loan. Fincance the $17,000 at 6% and your payments will be $328.66 per month. 328.66 x 60 = 19,719.60. Still a better deal than the 0% interest.

Sunuvagun --- is 0% REALLY a good deal, or is $3,000 rebate a better deal. At balances lower than around 20-grand, you're probably better off taking the rebate, unless your credit sucks (in which case you can't get the 0% deal anyhow).