[Don B]

Something I've been wondering about since I bought my 2011 Nox, and I couldn't get an answer from the dealer. With my trade in, the money I had on my GM card, and talk of a $1500.00 dollar rebate I was going to pay the balance in cash. The day I went to close the deal I was told that in order to get the rebate I would have to finance it through Ally and make a minimum of three payments before I could pay it off. When I started to protest I was told that it didn't make any difference because it was a 0% interest loan. Their financial person said that if I wanted, I could take the loan for 36 months at 0%. I've been racking my brain trying to figure out why they would let someone do this.

 

[gar187er]

let someone do what? take a loan at 0%? cause they play the odds that they will get $$ from missed payments, and then subsequent back interest....

 

[RNOX]

I used GM card rewards and took advantage of supplier discounts and got a 0% rate on my saturn LS1. Take the 0% and keep the cash in AMEX bank savings at 1.30% and pay off the loan. Your getting a great deal. I payed off my loan. They will give the low intrest rate only to tier 1 credit holders so only those with good credit get the 0% rate.

 

[Don B]

let someone do what? take a loan at 0%? cause they play the odds that they will get $$ from missed payments, and then subsequent back interest....

The point you're missing is I only have to make three payments and then I can pay it off, and they were fully aware that I was going to pay the balance in cash anyway. I don't think the odds favor them on a deal like that, especially when I already have the money laying in a bank drawing interest.

 

[gar187er]

yea but they have blanket rules when it comes to certain promotions....its all numbers....they win some and lose some.....

 

[RNOX]

The tempt you with a rewards card and hope you do not make the monthly purchases and pay intrest. I pay with a rewards card for everthing and pay my bill monthly. I get 5% on gas 2% on supermarkets and 1% on everthing else. You choose a GM card. Enjoy your rewards! The dealership dosen't care as long as they get the money from all.

 

[RNOX]

PS I had a 5 year loan on my Saturn VUE at 0% and a supplier discount.