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This rolled out yesterday, Im not looking for a vehicle, but bored enough to start a conversation around it.
GM is offering 0% for 7 years (84 months) and four months deferred payments (on select vehicles) for those with "A+ Credit". Some ads say "with A+ Tier". Im asuming the 740+ score, but dealers have a way of tossing out any number they want for a Tier.
Of course they hold the cards with "A+ Tier". Wonder what score that equates to when it applies to this offer?
A lot of it depends on the dealership and who all they work with so it's not a standard if you hit 740 middle etc it will work for all those people.
well its a GMAC offer, so I assume they are working with GMAC.
Yes yes sorry I probably should have explained a little more if the dealership only works with GMAC and a few other lenders then they may have more strict tiers for their store vs someone that works with GMAC as well as 30+ etc. While GMAC does have some standards yes usually higher the store has it's own standards as well which is a bit trickier.
The 'tier' also fluctuates as well so it's again not a set in stone type thing although I wish it was lol....But I'm sure someone with a 750+ score would have no trouble either way more than likely I know it's not a 'gaurantee type thing to be X plus'
I have a 762-784 (depending upon which Bureau and scoring model used).
I went yesterday to a local dealership. Was told it kind of depends upon which route is better for me. They said if I use the 0% deal, it changes the rebate programs they can use. So, it would be possible to get a better deal and use non-0% financing.
Anyway, they didn't like my trade and shot over the moon. Not sure I understand their thinking here, I'm well-qualified. Times must be pretty grim for car dealers at the moment with COVID 19 taking foothold in the world. But, I walked. Will see what the future holds. Probably not the best time to be purchasing a vehicle anyway. Too many unanswered questions.
Peace!