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0% financing promotion question

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DarkProphet

Passed Driver's Ed
Location
United States
Hey guys, my dealer quoted me 2.9% at 60 month ( before running credit) when working on a deal. I saw on vw.com that they are running a 0 percent 60 month deal right now. When I asked the dealer about it they said I would loose 1000.00 work of Rebates? Anyone have any insight? It's on a 2017 gti SE. Thanks!
 
GTI Jake

GTI Jake

Autocross Champion
Location
Charlotte, NC
I'm guessing he's doubting there is legitimately a downside to 0% like loosing a $1000 incentive or are they trying to get one over on him
 
PRRGG1

PRRGG1

Drag Racing Champion
Location
USA
In the U.S., VW Credit is offering 0%/60 Months on Golfs this month until 07/31/2017, so don't let the Salesguy snooker you. (Golf R is excluded from any current offers.) There is no $1,000 incentive currently offered on any Golf models, but when cash incentives are offered, VW Credit offers a low rate or the cash, but not both. Your Dealer may have an alternative arrangement. You've chosen a good time to shop!

http://www.vw.com/special-offers/type/OTHERS,APR/
 
Diggs24

Diggs24

Autocross Champion
Location
de plains! de plains!
Car(s)
2015 GTI
Yup, the dealer is giving you a good price because whomever the lender is is giving them a kickback. They are giving you some of that kickback in the form of price off the car. Calculate what they are giving you vs what you would pay for the car at the end of the loan at 0% and select the better one.
 
GTI Jake

GTI Jake

Autocross Champion
Location
Charlotte, NC
I'd play hard ball

0% with the discount or I walk. Works every time, even if they have to call you tomorrow.

After negotiating my 2016 in December 2015 for $23,500 (gti S manual, 4dr) I told them well I'm gonna go sleep on it, if you include the cost of stage 1 tune I'll pick it up Friday (two days out).

They called me 12 hours later and asked what time they should have it ready for me Friday
 
JC_451

JC_451

Autocross Champion
Location
NJ, one of the nice parts.
Car(s)
2017 GTI Sport
16.67 per thousand financed if you borrow at 0% for 60 months.

17.92 per thousand financed at 2.9% for60 months.

Borrow 20K, at 0.0 makes payment 333.40 per month, obviously you pay 20k.

Borrow 20K at 2.9 makes payment 358.40, you pay 21,504 over the life of the note.

So getting 0% interest saves you 1500 bucks which is 500 more than 1000 :p

Borrowing differing amounts changes how much you save with the 0 percent, the more you borrow the more it favors you to have as low interest as possible.
 
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D

DarkProphet

Passed Driver's Ed
Location
United States
Thanks Guys! I'm just trying to confirm if it's one or the other. They said it would be through vw financial either way... the price for the SE is 29,500 OTD but my trade is more than that so no taxes are being collected.
 
BigDan

BigDan

Go Kart Newbie
Location
Philadelphia PA USA
DarkProphet said:
Hey guys, my dealer quoted me 2.9% at 60 month ( before running credit) when working on a deal. I saw on vw.com that they are running a 0 percent 60 month deal right now. When I asked the dealer about it they said I would loose 1000.00 work of Rebates? Anyone have any insight? It's on a 2017 gti SE. Thanks!
Click to expand...

Whats the Price of the car?
 
Nsknick

Nsknick

Ready to race!
Location
East Coast
I chose to go with 0% financing for a couple of reasons.

1.) The dealer is trying to convince you that the $1k cash up front, is 100% to benefit you. This is only true if you plan on paying the car off early.
2.) They came back to me with a interest rate of 2.4%, I have an EXCELLENT credit score, so I told them that it was not good enough.
3.) I did an excel spreadsheet with a PMT function to compare both payments. 0% was cheaper, and interest free.

Lastly the dealer won't be happy if you apply for the 0%, because they don't get anything for it.
 
BigDan

BigDan

Go Kart Newbie
Location
Philadelphia PA USA
BigDan said:
Whats the Price of the car?
Click to expand...

The reason why I ask is 2.4% can beat 0% if you can negotiate the price of the car lower with a 2.4% rate. Get Financing before you walk into the dealership. Negotiate for the car and then if 0% is better do it. Usually you don't any Breaks with 0%. And If you get dealer financing you are making money for the dealer.
 
W

wantone

Ready to race!
Location
Iowa
PRRGG1 said:
In the U.S., VW Credit is offering 0%/60 Months on Golfs this month until 07/31/2017, so don't let the Salesguy snooker you. (Golf R is excluded from any current offers.) There is no $1,000 incentive currently offered on any Golf models, but when cash incentives are offered, VW Credit offers a low rate or the cash, but not both. Your Dealer may have an alternative arrangement. You've chosen a good time to shop!

http://www.vw.com/special-offers/type/OTHERS,APR/
Click to expand...

The Jetta has both 0% and $1000 bonus. I was wondering why prices shot up $1000 lately on the Jetta GLI's I've been watching. Now I know. Pretty lame. Had the $1000 been stacked with their previous price, a GLI would have been in the $19.5k range. Plus TTL. Still damn low.

It's like the Ebay sellers that jack up the prices when Ebay Bucks are available.
 
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