0% apr for 60mo on the z?

6MT-Z34

Sorry to hijack your thread but can you get the 0% financing even though your car is not here yet? My car is schedule to come in May but I already have the VIN. Anybody knows?

Also, what would be the credit Tier to fall under this 0% APR? and do you need anything else if you are a first time buyer?

theDreamer

Finance is usually done once the car arrives, you don't want to get into a loan without a car even with the VIN.
0% usually falls into the top bracket probably mid 700s and higher credit score, and if you have minimal credit history probably a larger down payment.

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6MT-Z34

I have really good credit, I've been building it since I was 18-19 I just turned 23 lol. I know I'm still young but I always pay my credit cards in full I don't like to have to pay interest on them lol.

I won't be putting down much (around $5-6K), I just think with 0%APR I can save a few bucks for other stuff throughout the month. But you are right about getting into a loan without having the car first. Do you think I can go and "lock" that percentage before the car gets here? Thanks for your help!

ElVee

For me, this isn't my first new car purchase, so that helps. I had to get my parents to cosign on my first one ten years ago and still not be able to negotiate much on the %.

These days, my credit is fine (not great, mostly because I don't have a mortgage, I rent), but I'm low risk due to my job.

We'll see when I go in tomorrow. I won't be surprised if there are...well...surprises.

6MT-Z34

That's cool dude... good luck tomorrow!! and take bunch of pics of the Z.

BTW which one did you get? lol

enkei2k

Yep, I picked up my 12 with 0% @ 60months last March. I put down my deposit, asked them if I was approved a few days later, they said yes, and finalized all the paper work a few weeks later and drove off. Pretty painless.

Also, it is 0% for this year too, see link (shout out to Joe, where I picked up my car!) :

March 2013 Z specials from Koeppel

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ElVee

2013 touring+sport 7AT gun metal with rearview camera. Not used to having an *** I can't see around!

ElVee

It can't really hurt to ask around. Just know that most applications are only good for about 30 days. But it's far better to ask around and have some options than to go hunting the day of and/or have to settle for whatever the dealer sets up for you.

6MT-Z34

True, you think I should ask the dealer I order the car from or go to another dealer and find out if I can "lock" the APR and order a Z? Thanks for your help!!

ElVee

The dealer isn't going to lock anything until the papers are signed and you're taking possession of the car. Everything else is just words and not binding. And even then you have to read the written contracts carefully.

You can "lock" rates by having a pre-approved loan from a third-party bank or credit union. For instance, I applied to a local credit union, and got a pre-approved loan at 2.49% with a general understanding of about $40k price of the car with $10k down. That is then good for 30 days for me to get the car in and sign things with the dealer. At that time, a fancy dance occurs where I sign for the car, the dealer sends the title to the credit union, and the credit union foots the bill with my promise to pay them. Or however they want to handle it.

It's easier to go through the dealer, but ultimately you're losing money if the % differs.

(Or even with matched %, it might be worthwhile to still go through your third party if building a relationship with them is important to you.)