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Interested in 0% Financing?

BIGR

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If you want to buy that $50K+ ride, now is your opportunity . . .

http://www.chevrolet.com/chevy-truck-month

Looks like it is limited to 2017 inventory.
Yes you are right about that if one was about to pull the trigger on one and was financing. Turn a 50,000 dollar loan into about a 700 dollar monthly payment, that still hurts though. Looked like some cash back deals too but I bet you cant combine that with the 0 %.
 

THEFERMANATOR

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If you want to buy that $50K+ ride, now is your opportunity . . .

http://www.chevrolet.com/chevy-truck-month

Looks like it is limited to 2017 inventory.
The sad part is $50K doesn't even get you a well optioned 2500 anymore. Upper level trim package 2500HD with a diesel is in the low 60's now sticker price. The ONLY way I would buy a new truck is if I won the powerball. I can't see spending as much on a truck as I could buy a nice piece of property for.
 

JayTheCPA

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I wondered when somebody would go there ;)

Back-story to the 0% financing is that apparently GM is getting spanked by Ford and Dodge in the light truck sector this year. So, a bunch of somebodies are buying at those price levels, just not GM's.
 

MrMarty51

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The sad part is $50K doesn't even get you a well optioned 2500 anymore. Upper level trim package 2500HD with a diesel is in the low 60's now sticker price. The ONLY way I would buy a new truck is if I won the powerball. I can't see spending as much on a truck as I could buy a nice piece of property for.
And then to match the new truck, a person would have to buy a new 5th wheel camper and a new boat to match it all, I do not understand how people can afford all of that. I would never envy nor criticize someone that can afford to do so.
I do know several people that have gone that route, living on not much more than I bring in per month. I just could not ever seeing going into debt that deep for ANYTHING.
A piece of propitty would make much more sense, especially if it is out of the flood zone. Not like my property that went from flood zone to river channel. LOLOLOL
 

MrMarty51

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Two words: Monthly Payments.

It is far easier to borrow for it now and pay a lot more for it over time, than use self discipline of saving and waiting to pay cash :(
If I had to save and pay cash, even the 2000 Chevy would not have happened for Me.
At least the payments are less than 175 a month over five years, I can afford that.
 

JayTheCPA

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I definitely understand that too.

Commentary was focused more on those apparently 'living large' with the new truck, 5'er, and toys ;) Borrowing money is sometimes necessary, but not always.

Aside and semi-related, lost count how many people commented to me that their financial advisor / tax preparer / and even a fellow CPA told them to get a bigger mortgage just to have a larger tax deduction. My advice was to consider a different individual as a quick simple math example showed how this would not work in most cases and it only put the individual deeper into debt for no reason other than to have a bigger interest payment and less cash at the end of the year as a result. Change the reason for the larger mortgage a bit to where the money goes toward things like repairing the house, consolidating multiple mortgages, or other true life necessities, then it can make more sense.

To bring the thought full circle, whenever possible, consistently paying extra toward the loan (even $5) over the loan's life typically gets more cash back in pocket by shortening the life of the loan. Naturally, this only works when there are no prepayment penalties.
 

btfarm

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The first time GM did 0% for 72 months was July '06 when I traded my 05 LLY Chevy for the current 06 LBZ. That truck stickered at 43k and had every option at the time except sunroof and On star. An equivalent replacement is in the 65k range now. Much as I would like to have a new one, I can't even come close to justifying it. Plus, I'm retired now and, and although I could pay cash from my IRA, I would be pretty stupid to do that too. Not to mention the cost of divorce...
 
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