|
No there's no unusual conditions to get 0% financing with an automaker (I sold an '05 model a couple of hours ago with 0% financing for 60 months - let last of that model on our fairly large Ford lot). With those lenders there's one rate and one rate only. You more or less qualify or you don't. Most banks are more or less the same, but may have more of a tendancy to apply conditions such as a certain amount down, etc. Some like Wells Fargo will approve riskier applicants but slap on a higher interest rate to justify the risk they are taking.
I absolutely agree with the diagnosis for the biggest reason behind GM's problems.
|