How often do dealerships offer 0% financing?

Question

My husband and I are looking into buying a Honda Odyssey right now. They sent us a generated e-mail showing their 0% financing on MOST vehicles and the Odyssey wasn't one of them (of course). Anyway, just wondering if anyone else knew 'cause I don't pay that much attention to the advertisements.

Also, if you have a Honda Odyssey... let me know how you like it (or hate it).

Answer 1

The actual dealership isn't the one who offers the 0% financing. 0% financing is offered by the manufacturer not the dealer itself. So, if you receive an e-mail from a specific dealership offering 0% financing it's actually Honda (or the company the Honda finances people through) offering the special financing not the dealership itself.

Also, it very difficult to get 0% financing. Usually this special interest rate is reserved to those people with perfect to very near perfect credit ratings. (In my opinion those are the people who could use the low interest rate the least....but that's another story.)

One more thing, manufacturers only offer 0% financing on those vehicles that aren't selling very well or haven't been selling very well. That is why you are seeing this rate right now. The economy is down and the auto makers want to sell their vehicles so they are making the incentive more appealing. This also why the Honda Odyssey ISN'T one of the vehicle you can get 0% on. The Odyssey is and has been one of the best selling minivans on the market for a number of years. Honda doesn't have to try to sell them...they sell themselves. In fact, sometimes Honda has a hard time keeping up with demand.

I don't own one but I have rented one on a couple different occasions. They are incredible! They are also one of the highest rated in safety and reliability. I do feel, however, that they are overpriced but that is my own opinion!

I hope my answer has helped you out!

Answer 2

Honda never offers 0% financing on any vehicle, so this has to be something from the specific dealer.

0% is typically offered through the U.S and Korean manufacturers (Kia and Hyundai).

Make sure you get the details because unless it is offered through the manufacturer, there are usually some fine line restrictions.

I don't have an Odyssey, but Consumer Reports rates it as the 2nd best minivan behind the Toyota Sienna.