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No....one or the other, not both..... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Tue, 1 Apr 2003 12:41:36 In Reply to: Re: Either or, incentive or rate, model by model.., Jeff P, Tue, 1 Apr 2003 12:27:09 Members do not see ads below this line. - Help Keep This Site Online - Signup |
The typical finance charge on a 60 months loan of $40,000 is about $4,800-$6,000 on rates around 5%-6%, so on a $40,000+ vehicle with a $4,000 incentive your better off taking the rate. That is $40,000 at 0% x 60 months = $666.67 where as $36,000 at 5% x 60 months = $675ish. It's pretty close, but 0% still wins that round.
And if they're going to give you the money for free for 60 months, why put any down payment?
posted by 207.158.49...
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