Hi there Beyond, as I posted in another thread I am in the market for a SUV.
My wife got a call from Honda since she owns a civic, and they are offering .49% interest rate on a 2016 CRV for 72 months and .99 for 84.
At first I did no think much of this but as I started looking at other vehicles I found that hard to match. The way I am looking at it is that the total Finance charge for 84 months is around $1300, compared to around 4ks at 2.99% which is still a pretty good rate.
So I guess my question is, how can dealerships offer such low interest rates? Am I being cheap by looking at the total finance charge after the whole term? and is there other dealerships with good rates at the moment? I am not in love with the CRV but that price is hard to beat.
I was also looking at used vehicles but those rates are usually around 5%, but I do know that Mercedes usually offers good rates on their Certified preowned vehicles. Is there other dealers that offer good rates for used inventory?
Thanks in advance.