2020 Silverado/ O% 72 and 84 months.

Wonder if Toyota will follow for Tacoma’s

 

Doubtful.

Silverado is antsy since losing their #2 sales spot to Ram, so they're going to reach a bit to grab customers.

I would imagine all car sales are going to slow somewhat until everybody sees how the CV is going to shake out.

 

Guess that fancy tailgate isn't helping.
Duane

 

A talking head on the tube said walkthrough traffic at new car dealerships was off 25 - 35%.

 

Chevy has had this for many years.

 

I’ve never payed much attention but I thought they just did that on the high dollar truck

 

If you need 0% financing on anything for that long, it means you can't afford it. No don't tell me about how you're putting the money you're saving to work somewhere else.

 

Their real people commercials and "styling" aren't helping either. Bring back the mid 90s like a rock commercials please.

 

do you have an auto signature feature?

 

0% is basically getting paid to finance the vehicle, a shitty savings account gives 0.05% interest. If you park 50k in a savings account and make payments from that you'll earn $150 in interest in that time. There are plenty of safe ways to make more, a high yield savings account pays 1.6% for almost 5k in income. Paying cash for anything when money is this cheap is a bad financial move.

 

Plenty of people can afford it but if you can borrow money for free, you take it.

The money you would've used to pay this thing in full is better used elsewhere to earn money on.

 

Let's get real guys. Very rarely to people put the "interest" savings to work. They'll use the "savings" to move into vehicles that they really can't afford because they're shopping by a monthly payment number. It's really no different than deficit spending, the lower the rate the more they'll spend.

 

Whether you smartly invest that money or just continue doing dumb shit it's still a good move to take interest free money anytime people want to give it to you.

 

The 84mo car loan will be the new sub prime mortgage

 

I am going to agree with your assessment for the most part. However, I bought my other car (not my taco) and could have paid cash, but BMW (through some local credit union) was offering 1.29% so I got the loan. It was pretty much a free loan. I put the $59K into a cd at 2.2%. But..... after 6 months I hated that $1000 payment and paid it off. I just hate owing anyone $$.

But... most people are not as disciplined as me. Now, if only I could be so good with ice cream!

 

The most common loan is now 72 months and the average payment is almost $600.

The second most common is 84 months.

Talk about being upside down in a car loan.

 

With a depreciating asset to back it.

What's a seven year old half ton GM pickup worth after 7 years? Mid to high teens at best

0% Interest doesn't sound so hot when factoring in the true cost to own, but hey you'll look good and think of the likes.

 

That's a long time to keep the same truck nowadays. I don't think I'm going to be able to make the 60 months I got on my loan.

 

This is not a brag but I always lived below my means and would seek out 0 % loans for 60 months and pay them off in 36. Currently in a paid for house (modest) with two paid for vehicles (both modest).

 

I saw a buddy of mine who works at a Ferd dealership, they are doing the same for all 2019 models excluding super duty's