0% Financing

[Rock Crawler]

I looked around in the search and can’t find an answer to my question. If I missed it, I apologize. I’m looking at financing my new truck with Chrysler Capital for the 0% financing. But, I’m wondering what the catch is. There’s is no way they are going to finance my truck at 0% and make no money. What charges, fees etc will I be expected to pay? Is the 0% really worth it after monthly charges, fees etc?

 

[LX Sport]

Last time I checked it for Big Horns w/ Crew cab and 5'7" beds. And you need to have over 800 credit.

But I stopped paying attention because I ordered a Laramie with a 6'4"

 

[Idahoktm]

I have 0% through Chrysler on my 2021 Laramie and I didn't pay any fees. There's no catch. The 0% financing is just that...0%.

 

[Mountain Whiskey]

No catch. They are bending you over like Ned Beaty in Deliverance for the price. SQUEAL! They are way more than making it up there.

Think about just over a year ago when I ordered my 2021. I got like 24% below MSRP. What is it now?

 

[LX Sport]

No catch. They are bending you over like Ned Beaty in Deliverance for the price. SQUEAL! They are way more than making it up there.

Think about just over a year ago when I ordered my 2021. I got like 24% below MSRP. What is it now?

shhhhh....

Those of us with 2022's dont like to talk about prices in the before time.

 

[cevans6318]

IMO, it depends on the dealer and if they want to try and screw you or not. When I bought my 21, my credit score was 855, yet the dealer told me the lowest rate they could give was 2.9%. They Said Chrysler Capital wanted to give a higher rate. Higher rate on an 855-credit score? If an 855-credit score didn't qualify for 0% apr, what will. A month later, I refinanced and was approved for 1.9% rate from Penfed credit union.

 

[bill-e]

0% is a Ram incentive, not the dealership and it is usually offered instead of a Ram cash incentive like 0% or $2k rebate from Ram.
There are no fees and sometimes there even a Chrysler Capital rebate that goes along with it. In the last 8 years I've done Ram 0% on my '15 and '20 and also one from Kia

 

[HSKR R/T]

When I bought my truck in 2020, with the 0% financing you didnt get some of the other promotions going at the time, meaning you had to pay closer to MSRP vs taking other discounts. And the term in the loan was way longer than should be done for financing a vehicle.

 

[bill-e]

0% is a Ram incentive, not the dealership and it is usually offered instead of a Ram cash incentive like 0% or $2k rebate from Ram.
There are no fees and sometimes there even a Chrysler Capital rebate that goes along with it. In the last 8 years I've done Ram 0% on my '15 and '20 and also one from Kia

On my '20 it was the 0% or $2k but there was a $500 Crysler Capitol rebate on top of it so it was worth it on a $36k loan. I also did it for 36 months.

 

[HemiDude]

Similar to @HSKR R/T, when I purchased my '20 I could get either-or, so I chose all of the rebates, and then haggled them down as well. More than made up for no 0% to me. Fast forward to my '22 GT, truck didn't even qualify for 0%, and rebates were scarce. I ended up getting $1500 in rebates, and talked the dealer up on my trade (as if they were going to say "No thanks, we don't want a 2 year old 1-owner truck to retail" )

 

[djevox]

IMO, it depends on the dealer and if they want to try and screw you or not. When I bought my 21, my credit score was 855, yet the dealer told me the lowest rate they could give was 2.9%. They Said Chrysler Capital wanted to give a higher rate. Higher rate on an 855-credit score? If an 855-credit score didn't qualify for 0% apr, what will. A month later, I refinanced and was approved for 1.9% rate from Penfed credit union.

^This is pretty accurate. The F&I manager has what’s called a “buy rate” where the APR they get is different than what they tell you. It’s one of the many tactics they use to make a profit on each sale.

On my ‘21, I got 0% financing from Chrysler Capital with no strings attached. On my ‘22, I was impatient and took the F&I’s rate then refinanced 2 months later at 2.04% from a credit union.

In these times, it is best to have a pre-approval before going into the F&I office. Just beware that if you get a pre-approval, they will “play” with numbers on the other packages (such as VSC, maintenance, key coverage, etc) to make up the lost profit.

 

[theblet]

No catch. They are bending you over like Ned Beaty in Deliverance for the price. SQUEAL! They are way more than making it up there.

Think about just over a year ago when I ordered my 2021. I got like 24% below MSRP. What is it now?

I can’t even imagine what the inflation price is. I bought mine used in 2020 right before the hit the fan. I got 2.4% financing

 

[Ram-a-Kin]

I picked up my Limited yesterday and i already had told then we got 1.9% from our credit union. When I got there there they presented us with 5.7% and we said we wanted 0% for 48 months. We filled out the credit app and were approved. No fees, no hidden cost. Got the $1k incentive for financing which stacked with the $1k bonus cash I had.

 

[cevans6318]

I picked up my Limited yesterday and i already had told then we got 1.9% from our credit union. When I got there there they presented us with 5.7% and we said we wanted 0% for 48 months. We filled out the credit app and were approved. No fees, no hidden cost. Got the $1k incentive for financing which stacked with the $1k bonus cash I had.

How was your truck built so fast yet others have been waiting since last year?

 

[Mountain Whiskey]

I can’t even imagine what the inflation price is. I bought mine used in 2020 right before the hit the fan. I got 2.4% financing

Yea, I got 2.9%. Much like @HSKR R/T the length of the loan is way too long. I pointed this out and explained I only wanted 3 to 4 years. He read through and found no penalty for early payment. Since it is not front loaded like a home loan, I just increase my payment amount to meet my goal. As he pointed out, if I hit a rough patch, I can just make the lower required payments. Win win.

 

[LaxDfns15]

They're typically going to make you pay more up front. They charged me an extra 1k up front for a 0% 36 month loan instead of 4% 60 month loan. Over the life of the loan it would have cost more than 1k in interest, even if I paid it in the 36 months. I was planning on paying it off in 3 years regardless, so chose the cheaper option.

 

[HEMIJAKE]

When I got my ranger in 2020, they offered 0%. Not sure about ram, but ford allowed you to either take the 0% or take the incentives, but I could not do both. The incentives weren't great when I crunched the numbers, so I took the 0%. I drove it for a year and 10k miles and then sold it for what I paid. Rolled the equity into my ram. Highly doubt I'll ever time the market that well again ha.

 

[Ram-a-Kin]

How was your truck built so fast yet others have been waiting since last year?

My good looks and stunning personality . No really as other’s on here have pointed out, Limited’s seem to get built faster. I originally ordered a Big Horn and 5 weeks later changed my mind and ordered a Limited. My Limited got built the day after my original BH and although it entered the shipping processes 10 days before the Limited, both trucks got delivered to my dealer on the same transport last Friday.

 

[Idahoktm]

There were no strings attached with my 0% for 48 month financing. All of the discounts were the same, whether I chose 0%, my own financing, or another source. I realize that is not always the case, but it's not always an either/ or deal with 0%.

 

[woodey]

I purchased my 21 at 0% for 72 months and $3000.00 cash back. Had to pay MSRP but also got a lot more for my 2010 than I was expecting.