Automakers are offering extreme deals. Buyers beware [CNNMoney.com]
General Motors Company (GM)
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Source: CNNMoney.com
Automakers are offering extreme deals. Buyers should proceed with caution (CNN) Faced with plunging demand and a country in lockdown, automakers are offering never-before-seen deals to try to sell the cars, trucks and SUVs already sitting on dealer lots. A number of car companies, including Fiat Chrysler ( FCAU ) , General Motors ( GM ) and Hyundai ( HYMTF ) , are offering 84-month car loans at 0% interest. That's seven years without any interest. Others are offering 72-month loans at zero interest. Not only that, but buyers can put off making their first payment for 120 days, or about four months. That should be helpful for workers on furlough. (Hyundai, for one, is also offering other payment protection plans for owners who lose their jobs due to coronavirus-related disruptions.) With loans that long and no interest at all, monthly car payments can be very low. That's assuming, of course, your credit score is good enough to qualify. But, experts warn, don't get so fix
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