when will subaru offer 0% financeing?
GM has done it
as has ford and toyota

if it happened it might push up my purchase date :)

The lowest financing I've seen is the 2.9% recently offered on Subaru Legacy and Legacy Outback.

I can't see Subaru offering 0% unless or until sales become so bad that they need to take drastic action.

Besides that, GM, Toyota, and Ford have a lot more money than Subaru to offer 0%, not that every applicant will get that rate based on their credit history.

David

more than likey never

When did Toyota offer 0%?

I thought 0% was an American car company thing.... :confused:

which car are you talking about?
all cars are differen

As far as I know it is an american car thing. Ford and GM are offering it at 60 months on all cars and chrysler is offering it at 36 months on certain cars.

Actually, Toyota is offering it on Corolla, tundra, and 4runner but knowing Toyota is is very limited term

Eric

Companies offer low interest rates and rebates to entice people to buy cars. This is especially true when sales are low, or the new model cars are coming out.
Subaru, especailly the Impreza line, is having it's best sale year ever. Last numbers I saw said the Impreza sales were up over 100% over last year.
Would you offer to make less profit on a car that is selling well?
Neither would I...

Originally posted by dbrier
Companies offer low interest rates and rebates to entice people to buy cars. This is especially true when sales are low, or the new model cars are coming out.
Subaru, especailly the Impreza line, is having it's best sale year ever. Last numbers I saw said the Impreza sales were up over 100% over last year.
Would you offer to make less profit on a car that is selling well?
Neither would I...

I agree, and as I mentioned before, the small print always mentions that "not everyone will qualify for lowest APR."

I don't know for a fact (of course) but I always imagine the 0% is offered to those people who most likely don't need to finance the car in the first place.

David

Subaru doesn't own their own financing company. Until they do, you will never see 0%. Mitsubish has always had the .9% or 0%, even on their AV equipment because they have their own financing company, and it's not small.

Keep in mind to take into account things besided the interest rate. You really need to be concered more (on any purchase) about the total cost. Anyone can get you a good payment, if they just stretch the loan out long enough.

Here's the deal. Subaru is offering somehting like this: 2.9% for 24 mths, 3.9 for 36 mths, up to 60 mths at 5.5%. Now let's pretend you just bought a WRX for $25,000, out the door. This is a simple round number.

This means:
24 months (2.9%) total cost is $25,762, only $762 in interest.
36 months (3.9%) total cost is $26,531, or $1,531 in interest
60 months (5.5%) total cost is $28,651, $3651 in interst, ouch.

OK, I know some of you are paying around 7.5%. That would be $30,057, or $5057 in interest. Them banks ain't got no dummies doin' that there math.

Bradus-

The interest rate you get will be determined by your credit score, not how much you make. You can make minimum wage, and get 0%, if your credit is good. Pay them student loans, kids!

By the way, don't think you're going to get a good deal on the out the door price if you pay 0%. Read my above post on how much Mitsubisi, or GMAC makes on just modest interest rates. There's a reason Mitsubishi can afford to give you $0 down, and no payments for 1 year on a bigscreen. Have you seen the prices they charge?

Why would they? If the cars are selling well why bother. The domestics and other just do it to keep their employees in jobs and the factories working.

The financing is not free it costs the car companies big bucks and over time it is the consumers that will pay for in as MSRP's are increased to cover to cost.

What is more important? A good deal on a nice P.O.S. or a reasonable deal on something that you actually want?

subaru american credit is not owned by subaru ?

wacky?

Low interest financing is not available on the 2002 Imprezza's but I brow beat my dealer until he got me 6.9 for 60 mos.

Jaxx-

subaru american credit is not owned by subaru ?

NEW YORK--Feb. 27, 2001--Subaru of America, Inc. and Chase Auto Finance, a division of J.P. Morgan Chase, today announced the selection of Chase Auto Finance to act as the captive auto finance provider for Subaru effective April 1, 2001.

REad full story here: http://www.theautochannel.com/news/2001/02/27/015498.html

That tells me they go through Chase. Maybe Subaru American Credit is just the Subaru credit card? I have no clue. I suppose you could put your WRX on your Subaru credit card. What's $24,000 at 18%, with the minimum payment being paid, which will take about 11 years to pay off, work out to in the end? A lot, maybe? I bet you'd get mad gift checks from them though.

hmm...

well thats who a write a check to every month...

although the bills did change this spring ... so they mave have changed finance partners...

The Dealer offered me 0 Down and no payments for 30 days does that mean ill get a bad interest rate ? I haven't bought the car yet.

To get 2.9% you have to score a 700, so you will need a very good credit rating. My brother and I didn't qualify by a long shot even if combined we make a 3 1/2 times the car's worth. We have other loans totaling more than the car itself though. 2.9 is short term maybe 1 year or 2 and keeps going up 1 percent for 1 more year.

The Dealer offered me 0 Down and no payments for 30 days does that mean ill get a bad interest rate ? I haven't bought the car yet.

really ?

zero down and no payments for 30 days is cakewalk for these guys.

I just picked up my WRX yesterday, at 0 down, 6.9% financing and first payment isn't for 45 days--and I didn't even ask for the 45 days.

Seems standard.

BTW, Saab has 0 down and 0% financing also. But, they're part of GM.

Wish I could get 6.9% on my money. $20,000 borrowed over 4 years works out to be $3,000 in interest. Plus hold backs and mark up. Then they try to steal your trade. Oh, there's many ways for them to make money as long as they move cars. Start at invoice and go from there. Pls don't pay MSRP!!!

lol! you guys are funny. Your first payment is NEVER due until 45 days! On a house or a car. That is just a ploy they use to make it sound like they are doing you a favor. you know why it isn;t due for 45 days? because each day you wait you are being charged interest. the banks make a killing on people waiting 45 days to make a payment. Pay your first payment as quick as you can!

Eric

If you are buying a WRX or 2.5rs, dont count on getting anything below 6.9%. Subaru's financing deals don't apply to any Imprezas. Open an account at a credit union and you may get a little lower rate.:

Just to further muddy the waters, I was doing research today on where my Sport Wagon will be shipping from and to and found a press release that maps out Subaru's business plan over the next 5 years.

Fuji Heavy Industries (http://www.fhi.co.jp/english/news/2001/01_05_24.htm)

Part of the plan is to implement GMAC financing. They have already done this in a part of the Asian market. Read the page it makes for scary reading for those that don't like GM much. :mad:

As for credit unions, EDS Employees Federal credit Union is offering 5.75% right now for up to 60 months.

Jeff

Dodge started doing it too...I think it is to offer our economy some kind of relief, just my .02:D

That would be to offer their profits a little relief. They might market it otherwise.

Or better yet, don't buy what you can't pay cash for. Debt kills.

Originally posted by yakabazzi
Or better yet, don't buy what you can't pay cash for. Debt kills.

yeah! don't go to college if you can't pay cash, don't buy a house if you can't pay cash, but feel free to put beer on your credit card if you have the cash available.

I didn't really believe it was possible for the average person to pay cash for a car, but it is actually fairly simple. I put $400 dollars a month in the bank and continued to drive my 93 Impreza for four years after it was paid for. By June of 2000 I had almost $20,000 saved and I simply went in and bought my RS. At the time the dealer was having a sale so I got the car for 17,800 which left me with a couple of grand head start on the next time I need a new car. If only I had waited another year for the WRX.:(
So now I have to wait another 4 years.

Originally posted by MK1ofMnM
I put $400 dollars a month in the bank and continued to drive

With very low interest rates, this isn't always a major money-saving endeavor.

Ed

At 0% you are correct.....
......but I believe at the time I saved something like a years worth of payments. I could have financed the car and made $400 payments for almost 60 months, Maybe to you that is not very much money, but to a poor boy like me $4800 is a lot!:)

just saw that jeep is offering 0% financing on select models now

Originally posted by wrxlvr
If you are buying a WRX or 2.5rs, dont count on getting anything below 6.9%. Subaru's financing deals don't apply to any Imprezas. Open an account at a credit union and you may get a little lower rate.:
Credit unions are almost always better. I got 6.5% on my RS back in 1999. We just got 5.9% on my wife's Miata. The same rate will be available for me when I get the WRX, maybe better depending on the economy.
The other thing that a lot of people overlook is the number and frequency of their payments. Let's say you pay $400 every four weeks for your car. You'll pay the car off faster if you pay $200 every two weeks, since you'll be paying the interest down faster. It would be even better to pay $100 every week.... etc. I have my payment made directly out of my paycheck every two weeks. By paying more frequently I figured out that I will pay my car off 6 months sooner, and will have saved myself a decent amount of money in interest. That's not a whole lot, but it's something.
Good luck

Originally posted by SubEd


With very low interest rates, this isn't always a major money-saving endeavor.

Ed
It is signifigant, and not just because of the interest rate. Try getting an RS at $17,800 with financing. Cash still talks.

Travis R-
Very good, young scholar. You know how to do it right. EVERYONE should do this. And not just on your car. Pay your mortgage this way too. This is one of the types of loans I can sell, and it's unreal how much cash you save, and how much quicker you can pay off anything. The numbers on a $100K mortgage, at 7%, are something around $78K in interest savings, and taking over 7 years off a 30 year mortgage.

EVERYONE should set their payments up like this.

Hey, anyone want me to set them up?;)

I would never buy a car with cash unless I just didn;t want a car payment. Instead of taking $25,000 of your hard earned money and putting it directly into a depreciating asset, why not finance it and have your money work for you. For example, get 8% intrest on a car loan and put your money into an IRA or something that draws 10% and have your money work for you :)

Eric

Good thought, but you are going to be hard pressed to find a safe, short term (4 or 5 years is short) investment that pays 10%. And I'm sure some of you have funds that you consider safe, and are getting that much. Anyone have a GUARENTEE, at 10%. Even 8? Maybe, with a large amount of $$, you could get 6%. Don't try this short term.

Over 10 years, and longer, you are correct, but this still involves risk. In fact, legally, I am forbidden from suggesting taking a second mortgage, even if it's only at 6%, and investing the money in a fund. The fund should see 8-10%, and has been doing so for the last 40 years. BUT, because this involves a certain amount of risk, and simply paying a loan does not, I cannot recommend it to any clients.

Now, for myself...


Hey, when is Subaru going to offer 0.0% anyway?

IM only 24 and was making only 30thousand a year without buying a car and had one credit card and scored over a 700 on my credit report when i leased my 2.5 rs for the first time without ever buying another car

by the way i wil never lease or get a loan for a car again not, just rather get a used one, not worth the hassle

I was able to get 6.25% on my Impreza WRX.

Roger