Free Money?
Zero down, zero percent interest, 2000 dollars cash back. So reads the impossibly generous car dealership offer. Almost makes you feel sorry for the dealer.
These people are not in business to give away cars or money. They are certainly not going to pay to advertize their generosity. Take another look at what is being offered.
Zero down? Sure, if you are willing to take out a loan at the dealership at an exhorbitant interest rate. Twice the going rate is not unusual.
But it was touted as zero percent interest. Not really. Look closer. What they were offering was defered payment of interest. No interest payment for the first year. They merely roll that 15 percent interest back into the principle for the fist year and you end up having to pay back a lot more money.
The 2000 dollars cash back is also a ploy to increase your debt. Yes, you get 2000 cash back but read the fine print. That is going to be the most expensive 2000 dollars you will ever receive because it is actually an unwanted loan at a very high interest rate.
Last but not least, you know something is very wrong when the cash back amount is more than anyone would be willing to pay for the vehicle.