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Whats the deal with financing offers?

It occurred to me that the financing offers that Subaru advertises are most likely not financed through Subaru, but are through a bank that you could get a loan from without going through Subaru. For example, when I bought my Ford, it was financed through Wells Fargo Bank. When I talked to my Subaru dealer about a new Subaru, he mentioned one of the local Credit Unions doing the financing. So, whats the story on financing? Do the banks make special promotional deals with Subaru, or can a guy get those rates even after Subaru stops their promotion?

Thanks,

--Dan

Reply to
dg
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Perhaps. Or the bank hopes to make their money back once promotional period ends and you start paying the interest ... Perhaps the interest is a bit higher than the current maket rate?

Well, in paying off my wife's credit card debt, I had already found and used 3 separate banks willing to lend me $10K at 0% for a year. Never say never?

Cheers,

Reply to
Paul Pluzhnikov

I got my 1.9% APR for 3 years through Chase Manhattan Bank when I bought an '03 Forester. What really bugs me about Subaru's recent financing is that they keep extending the offer by a few months. I remember when the low APR offer was only good till April, then July, and now September. So you don't really know if you have to act now to buy, or can wait a few months.

Reply to
Jason

Wha?! What's the catch? Why I could get 10K$, put it in a 3% ING savings account and have a free 300$ by the end of the year! Get my wife, my kids, my dog etc... to do this as well and I'm be rich!

-- Dominic Richens | snipped-for-privacy@alumni.uottawa.ca "If you're not *outraged*, you're not paying attention!"

Reply to
Dominic Richens

Lending fees that end up 1-3% anyway.

Reply to
JaySee

I don't know. Perhaps they hope that I will not pay it off, or that I will be late (and they'll start charging 20%)?

Yes, you could do this. Don't know if it is worth the trouble of opening yet another credit account. Also, ING has only been paying 2% recently.

Most of the 0% offers do have a 3% (up to a maximum of $50) balance transfer fees and are only for 6 month, but some don't have any fees and last 12 or even 15 month (they are the ones I used ;-)

The "good" offers only come about once a year (exactly when I need them 8-), the "not so good" ones -- 5 every day :-(

Cheers,

Reply to
Paul Pluzhnikov

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