Manufacturer Rebates as Down Payment
Zero down payment car loans can be easy for those who have good credit, but are available to everyone even if this is not disclosed publicly. It’s possible to get pre-approved online and know exactly how much car someone can buy before visiting a car dealer, and get zero down car loans with 45 days until the first payment. When buying a new car where the dealer or manufacturer is offering a rebate it is possible to use the rebate as the down payment, thus buying a car with zero down payment. When trading in another vehicle it is possible to use the trade in value as a down payment, thus buying the car with no money. The interest rate may be higher than for someone making a down payment in cash, or the length of the loan may be increased. Rebates offered my manufacturers and car dealers can be found on their website. They are more likely to be offered when there is a need to move a slow-selling model or when there is a need to make room for the next model year, usually starting in September. It could also be caused by a general economic slowdown which has affected all manufacturers. Impending changes in bank lending standards or practices that could make it more difficult to finance may trigger dealer rebates. Seasonal changes such as during the cold winter months will make it more likely that dealers have few buyers and more willing to negotiate a sale.
