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This is a key reason 0 percent financing offers exist in the first place. In the interest of attracting new customers, auto manufacturers often offer bonus cash rebates to buyers.
According to Edmunds, the share of dealers with 0 percent offers was 3.2 percent in August. This is up over the last six months but still below the highs in May 2020.
It wasn't too long ago that every car ad seemed to be offering 0% financing on new vehicles -- an incredibly tempting offer for potential buyers. But now, almost no one is offering these ...
0% financing or zero percent financing, alternatively known as discounted finance, is a widely used marketing tactic for attracting buyers of consumer goods, automobiles, real estate, or credit cards in different parts of the world.
These promotional strategies, including rebates, employee pricing and 0 percent financing, have boosted sales but have also cut into profits. More importantly such promotions drain the automaker's cash reserves in the near term while in the long run the company suffers the stigma of selling vehicles because of low price instead of technical merit.
Automotive financing: Parent: ... with a new 4.0 L V8 gasoline engine and rear ... While 45 percent of Lexus sales in the U.S. in 2011 relied upon the RX luxury ...
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Thus "zero percent APR" financing was born. Typical offers from auto companies are "Zero Percent APR financing available or $1,000 rebate". The consumer who elects "zero percent" financing gives up a $1,000 rebate (reduction in car price). Effectively, he or she pays $1,000 to get the "interest free" loan.
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