www.northwestarkansasford.com For the best price and selection of new Ford cars, trucks, and SUVs come to Lewis Ford dealership in Fayetteville AR. Find the best deal in the area on the all new Ford Edge at Lewis Ford. Call 866-940-8619 or visit http to speak to a member of our new car sales department. If youre looking to buy, lease, or finance your new Ford in the Bentonville/Rogers area, come to Lewis Ford for 0 financing. 3373 North College, Fayetteville, AR 72703
bestcomputersprices.blogspot.com 0 Financing New Cars Trucks SUVs Ford Edge Rogers AR Dealer
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To finance a new car means you won't have to borrow money for the rent. That's because for most folks, paying cash for a new car is out of the realm of possibility. Even if you do have the cash, you don't want to wipe out your savings account. So financing a new car is the only choice.
Although it's fast and convenient, getting your car loan through the dealership will cost you money in the long run. That's because the loans are often front-loaded--which means that the first 4 or 5 payments are mostly interest, so paying your loan off early won't save you any money.
But there are other ways that the dealership will get more money out of you than with front-loaded loans. You should know that dealership finance managers work on commission. So they will try to get all sorts of 'extras' added on to your car's price - such as an extended warranty, alarm system, etc. These are things that will be pitched to you ("upsells") after you've reached a final price with the salesman.
The Finance and Insurance (F&I) department at car dealerships is a bigger profit center than the sales department. So how do they figure your loan's interest rate?
Easy: They send your credit information to the banking institution that they work with on a daily basis. This bank returns a paper with a table of interest rates based on the number of payments. The lowest rate is marked up by the finance manager - which is the dealership's profit - and they are not required to tell you how much it was marked up.
This "Retail Installment Sales Contract (RISC)" allows the dealership to make more money on a 0% loan than an 8% or higher loan that you could get at the bank. Because sometimes the car manufacturers will offer a Factory-to-Consumer Rebate on certain models that aren't selling well - for the dealers to pass on to you.
...But these rebates don't apply if you get the 0% interest rate. Because a zero % loan has shorter te rms - so the overall price of the vehicle will be lower. Therefore the rebate is not needed.
So ideally, you will be able to get financing for your new or used car at your own bank. If this isn't possible, just make sure the loan you get at the dealership is not front-loaded; that it's a fixed rate loan. You can always double up on payments and save money by paying it off early (and thus avoiding lots of interest $ $ ).
Find More Finance a New Car and Save Your Cash TopicsQuestion by SB: What is 0% financing on new cars? Is it really a loan with no interest? Best answer for What is 0% financing on new cars?:
Answer by STEWIE
Um yeah? Duh.
Answer by Mike
yes, it is truly 0%
Answer by N
Sort of. Instead of discounting the price, they call it 0% interest. Sometimes you can get a discount instead of the 0% financing such that its better to pay interest. By the way, only the top 20-25% of credit customers qualify for 0% interest.
Answer by Daniel
Yeah, you usually have to run in the 700s of superb credit to qualify for those types of deals. Of course they're going to advertise that deal, but experienced buyers already know this. Most of the time at the bottom it will say - Based on a 720 or higher credit standing. So, if you're one of those people who waste credit card value at the McDonald's drive-thru, then I doubt it would apply to you.
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