Is 0% Interest On a Car Loan a Great Deal? #AskTheMoneyGuy 0 finance car

It's called gap insurance, this is nonsense advice why would you put any money down u can use that money elsewhere

Financing a vehicle in general will derail your finances but it you finance a luxury vehicle, you are doing the f.o.o, (financial of order operation) all wrong.

Define the 8% rule, please

Please do a video on car reimbursement thru your employer…please

What is considered luxury? Or how much?
Cause u can get a cheap used luxury vehicle that's within the 20/3/8…

$40 a month you say??

For me, it wasn't because I bought more truck than I can afford at the time.

The best car is a paid for car. The only way I’m buying a new car is with cash. Guys at my work don’t get why I still drive a 12 year old truck. Jokes on them for owing 50-70K on there “nice” new truck

I believe it's okay to put 0%down as long as you get 1.7% interest rate or lower. That way, If you get into an accident your emergency fund can be used and hopefully its earning more than the interest of the car. loan.

The worst purchase anyone should ever make, other than leasing, is to purchase a new car. With the value dropping 50% in the first three years, the wiser decision is to purchase a car that is two or three years old, put down a decent initial payment and finance the rest for maybe 2 or maximum 3 years. With a 5 or 6 year old car I still have decent value and if I maintain it, it can last for quite a while.

I worked at the corporate office of a publicly-traded dealer group and access to all their dealerships which included just about every brand there is. What I learned is that when it comes to buying cars there's no set of rules that applies to everyone.

For example, different brands do things differently. Ford, for example, usually offers at least 3 sets of incentives: 1) Low or 0% APR with low rebates or 2) higher rebates with "other" (non Ford) financing or 3) Huge rebates at the "standard" Ford APR
Other brands such as Honda uses "dealer cash" instead of rebates. That means the dealer may use a certain amount of dealer cash towards the sales price or keep it as profit on the deal. Low APR offers usually means giving up the cash.

Toyota in the USA is actually 3 different companies (Southeast Toyota, Gulf States Toyota and National Toyota). They do things differently so buying a Toyota in Florida is different than in Texas.

There's so many variables when it comes to buying a car. Then there's behavioral things to take into account also. For some people leasing is a much better option than buying.

When it comes to 0% APR offers theres 2 things to look for:
1. Are you better off taking the 0% or are you better off taking the cash incentive and financing at a regular rate with a credit union for example.

2. In my opinion, and from my experience, when 0% makes sense then take it and put $0 down. Put that money to earn you interest. And get GAP protection, which can be negotiated. Never pay more than $600-650 for GAP. Cancel it halfway through the loan for a prorated refund if you're really keeping the car.

Often there is a cash discount in lieu of 0% financing. 0% loans aren't free

I was stupid a couple years ago and bought a brand new car. Totaled It within 6 months. However through USAA I paid a little more on my insurance And they covered the depreciation. I came out very well on it. However I bought an 8 year old Honda that runs very well!

if it sounds too good to be true, it's not true for you and it's good only for them. The dealer will not lose. (In Vegas, the 'house' always wins, I hear, and at the dealer, the company always wins …one way or another.)