As majority of car shoppers can not pay the entire price at once, 0 APR is a good deal. Toyota is offering 0 APR on a new vehicle now.
Like any business, if you don’t sell for profits, you’ll be out of business. Car dealerships have mastered that art. They’ll deliberately waste your time preying on your impatience and ignorance. In the end, if they are not mad at you, then they had taken you for a ride. That will hurt your wallet.
The dealer is not your friend. It can give you a free car but wants something in return as a hidden cost they not telling you.
So 0%apr for 84 months is how American car dealerships are offering now. Check this. That's 84 cot dayam months you gotta pay for the car. If you thinking about paying it off faster, ask yourself, at 0%apr, why pay fast for? Ok, lets say you pay it off fast, the hidden terms they not telling you is that there is a penalty fee for paying off early. Ok, so you want to ride it out for the 84 months as in the contract. Your old azz car will by 7 years old and you still making payments? Since you are financing, they want 2 way full coverage for 84 months as well.
If you take this route, you can't take their rebate and discount. You may be paying the sticker price.
Now if you go with the rebate and haggle way, overall, by the 7th year, you would be even in savings had you gone the 0%apr at 84 month paying full sticker pricing.
Like I say, the numbers are there to make you salivate but the dealer is gonna get his money. You got played.
I don't know nothing cuz I used to sell for toyota dealership when I was in college.