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0% finance on quads

  • 07-11-2012 8:54pm
    #1
    iron man
    Registered Users, Registered Users 2 Posts: 210 ✭✭


    The auld lad wen to our local Honda agent today to treat himself to a Honda 500. It's his money and he is well untitled to do what he wants. Besides him and the quad are useful in the summer when he does a bit of herding for me while I'm up to my eyeballs. Anyways he comes home today and Sayes that the dealer has him talked into doing 0% finance for 4years and payments of 1800€ a year. I find this type of business fascinating. What's the dealer really getting out of it. I bet you if I went down to buy the quad straight up then I would get her cheaper....... Is he really making money on 0%finance and over the four years . will have creamed a nice wee bit my the da?

    I'm going to check my facts on this 0%finance before I open my mouth to him.


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,577 ✭✭✭✭Victor


    If he bought it with cash, he could probably have received a 10%+ discount.

    What he needs to be careful with is making sure all the payments are on time, as it is quite possible that there are painful charges if he doesn't.

    Read the contract and check his rights - there may be a 10 day cooling-off period.


  • #3
    Box09
    Registered Users, Registered Users 2 Posts: 243 ✭✭Box09


    The cost of the credit is built into the list price where 0% finance is concerned.


  • #4
    iron man
    Registered Users, Registered Users 2 Posts: 210 ✭✭iron man


    thats exactly what im thinking.... basically he is going to pay more for the quad by using his finance package. if you were paying for the quad on the day up front in full you would get her cheaper.


  • #5
    maxxuumman
    Closed Accounts Posts: 592 ✭✭✭maxxuumman


    Victor wrote: »
    If he bought it with cash, he could probably have received a 10%+ discount.
    .

    If he did it would be HIGHLY illegal. The credit deal is supplied by Honda through a finance company. The credit deal is not done by the dealer. So the dealer is getting the quad from Honda with the cost of finance included.
    So your father is right in buying the quad through finance, because he is paying for it anyway.

    Ask any dealer of any product offering finance, and they will tell you the last thing they want is a person arriving in with a ball of cash. That dealer ( and brand ) cannot compete with the dealer ( with other brand) who is not offering finance deals.


  • #6
    8k2q1gfcz9s5d4
    Closed Accounts Posts: 2,616 ✭✭✭8k2q1gfcz9s5d4


    Box09 wrote: »
    The cost of the credit is built into the list price where 0% finance is concerned.

    beat me to it :)


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