Bought a 2016 Honda CR-V last year. Wife and I have excellent credit. Was going to pay in full, but they offered 0.9% for 60 months. They’re basically lending me money for free.
“Bought a 2016 Honda CR-V last year. Wife and I have excellent credit. Was going to pay in full, but they offered 0.9% for 60 months. They’re basically lending me money for free.”
It still came out of your pocket. Your purchase subsidized the loan.
“They’re basically lending me money for free.”
Ummm..no. You bought a vehicle and they have you on the hook for the debt. If anything goes wrong, they have it set up to nail you. If you miss a payment or if they process a payment late, the .9% will become something much higher.
The 0% rate loans are designed to attract people who might miss a payment. Pay early and often to really screw them. :)