GM 0% Financing

[Anonymous]

I'm seriously considering purchasing a new GM vehicle. In terms of 0% financing, what is GMAC looking for in terms of FICO score and down payment to qualify?

On the vehicle I am looking at, I can put 20% down, but obviously it makes more sense to have down payment money in a savings account if your being charged 0% on a loan.

I have fairly high FICO scores (TU: 767 EQ: 753), so I don't think they are going to be an issue.

Thanks,

Jesse

Message Edited by jessep28 on 04-24-2009 08:41 AM

[Anonymous]

Your best bet would be to talk to a finance manager at a dealership. They would be able to explain better the specifics that would apply to you to the particulars of your transaction.

Not trying to pawn it off, but a car loan is not done by credit score only. Income, free cash per month, job history, history on car loans is all important.

In regards to putting less down: not an issue but do remember that may put you in a negative equity situation for the better part of the loan term.

Not a down side unless you plan to trade in/sell. And if you do go 0 down long term, get GAP coverage.

Message Edited by usmc58555 on 04-24-2009 09:12 AM

[Anonymous]

0% is usually reserved for people with 750+ Fico's. I'm seriously thinking of getting a GM also but the GM I want is three months away from being on sale which is the 2010 Equinox

[Anonymous]

jahmal

Thats the car that I want also.   4 cylinder Equinox LT with a sunroof     *sigh*   What incentives do you think they may have??   The first cars are being sent to the dealers late May.   I have already gotten emails from 2 of them.    I'm waiting until July though unless incentives are right off the bat.   My car is in decent shape, just too small.   My friend works for GM and is getting me a discount code.   Hopefully that will help with the prices.  I'd like to get my loan under 20k (after incentives, discount code, trade in and down payment)

[Anonymous]

Well my eyes were on a used 2009 Murano but for $24K for a base with basically NOTHING inside it was a complete turnoff. I saw the new equinox on the net and I like so trying to see if I can get one when it's released if the price is right. They say it retails for 23K to start but if I can get one in black with black leather and a sunroof for under 22K then I'm sold.

My car is near her end so hopefully she can last then again I don't want a 20K loan so my have to suck it up and get a used sub 15K suv if something happens between now and then.

[Anonymous]

I am seriously considering buying a 2009 Chevy Malibu myself.

For $23k I can get a Malibu with the 2LT package, V6, fully loaded, chrome wheels, etc. That car is up there in quality with the stripped V6 Nissans which start at $25k.

Message Edited by jessep28 on 04-27-2009 08:05 AM

[Anonymous]

I initially wanted a Nissan Rogue but I decided the back seat didn't have enough leg room.   It drove REALLY nice.   The other problem I had with Nissan is options.   I want a car with steering wheel audio controls and a sun roof.   That bumps the rogue up to 25k+.  

The Equinox 1LT has all of that (4 cylinder, steering wheel audio, sun roof and TONS of back room space) with similar gas mileage (estimated 21/30) for less.   I built mine on Edmunds and it came out to be 24 and change.  I have a friend at GM that is getting me a discount code.  I should be able to get out for 19.5k if they do a 2,000 incentive on the 2010.    *fingers crossed* 

I love the prices and options!  A 2008 (new) Rogue which my local dealer still has 8 of in stock with those options is still over 20k! 

I have always had GM or Chrysler for my cars... there is a reason.   The price is right and they will run a LONG time with the proper maintenance.  My first Chevy had 150,000 miles on it when i traded it in.

[Anonymous]

Well I saw the rogue and could care less about the back seat as I wont be driving back there so no biggie. I also hate Nissan options also where you must get something else to get the option you want. I did got quote for a 2009 Altima, black with black leather, sunroof, heated seats.. for $22K. I was almost sold until I tried to push in the mirros and notice they don't go in so live in NYC no way I can go without folding mirrors as I've lost many mirrors at night this way.

[Anonymous]

I have a saturn ion coupe now which I bought when my son just turned 5 and was still in a car seat (he's little and only 59 lbs at 10 1/2 years old)   He has since outgrown the back seat.  His legs are always smooshed and in my back.   So the back seat space is a big consideration for me.   That and I tend to be the designated driver of my friends when we go out since I dont usually drink.   My cousins (male) are about 6 ft 4 or 6 ft 5.  My female cousins are about 5 ft 10 to 6 ft.   I'm the shrimp at 5 ft 9.       Luckily, even though I do park in front of my house, I have never had mirror damage.