$0 downpayment means wat?

• leroybrown

  11 Nov 03, 19:55

  Hi all. Am new here and wondering when a car ad says $0 downpayment (as in last weekend's Mazda ads), does it mean that we can loan up to 100 per cent of the car price? Thanks.
• wuming78

  11 Nov 03, 20:24

  Originally posted by leroybrown:

  Hi all. Am new here and wondering when a car ad says $0 downpayment (as in last weekend's Mazda ads), does it mean that we can loan up to 100 per cent of the car price? Thanks.

  well i guess by and large tts wat it means, although there is likely to be some terms and conditions attached.
• leroybrown

  11 Nov 03, 20:26

  wat kind of terms and conditions might be attached to it? Tx. [/quote]
• wuming78

  11 Nov 03, 20:34

  Originally posted by leroybrown:

  wat kind of terms and conditions might be attached to it? Tx. [/quote]

  well. this would be better answered by the car dealers. i seriously dunno.
• Raiden121

  23 Dec 03, 17:49

  ... may i noe which brand got $0 dwn payment?? mitsubishi got anot?? i really like the lancer front look design leh... very the chio man...
  
  
• eutjin

  23 Dec 03, 17:54

  this is a new thingy for car purchases. sometime middle of this year, the government decided to remove the rule of a min. of 20% (if i remember correctly) downpayment for car purchases.
  
  the simple reason - encourage spending, but at the expense of consumers paying more interest in the long run. more ppl would buy a car encouraged by the fact that do not need to pay a substantial amount of cash up front.
  
  in short, buy with caution.