Not to be outdone …
June 2nd, 2006 | by mbhunter |… Ford raises GM on its $1.99 gas through 2007 offer:
Ford offers 0% loans, $1,000 gas credit
And this promotion, unlike GM’s, is nationwide. Zero-percent loans are nothing new, but the gas deals are new. $1,000 amounts to about $1 off per gallon of gas for a year if the truck is driven a normal distance. But then the deal runs out, and you’re back to $75 fill-ups, or worse. If you take the 0%, you’re still on the hook for a few more years. Not pretty!
I’m not sure how long the big automakers can afford to give away their big vehicles like this. Probably they can’t afford it right now. Unless your business depends on a big vehicle like this for hauling stuff, it seems reckless to buy a new one now. Maybe if they gave them away, though …
The smaller cars will likely see brisker sales. But these cars have lower margins than the big ones. A friend of ours got a Civic with 0% financing, but that was a few years ago with much lower gas prices and much lower interest rates. These conditions made 0% loans less of a loss for the auto-makers; now with the overnight lending rate 5% and climbing they’re missing out on a lot of interest.
Curiouser and curiouser … 
One Response to “Not to be outdone …”
By Elizabeth on Nov 6, 2009 | Reply
I need a car loan for about 22k. Were can I go were my rate and payment won’t be thru the roof.