Chevrolet Offering 0% APR Financing on All Corvette Models During Black Friday Sales Event - Corvette: Sales, News & Lifestyle
I wonder if this will happen here in Canada?
I wonder if this will happen here in Canada?
GM 0% on Corvettes in USA
- Thread starter JCWP
- Start date
As for anyone currently in the market to purchase a new Corvette, hoping the 0% comes here ...
Hard to think Canadian Dealerships would want GM incentives to get rid of on-lot Corvette
inventory if they can afford to keep them to sell closer to Spring. I personally know that
buying at 0% is awesome (as the Buyer) however a purchase right now may not help with the
allocation of Spring Corvettes to that Canadian Dealership. They could maybe use a
Fall/Winter Corvette sale to get allocated something else though... like a couple of Trucks.
Hard to think Canadian Dealerships would want GM incentives to get rid of on-lot Corvette
inventory if they can afford to keep them to sell closer to Spring. I personally know that
buying at 0% is awesome (as the Buyer) however a purchase right now may not help with the
allocation of Spring Corvettes to that Canadian Dealership. They could maybe use a
Fall/Winter Corvette sale to get allocated something else though... like a couple of Trucks.
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Yeah, but, when I can make 8% or so on my investments - still a great deal. I bought my 2011 Outlander sport with trade and 0% financing. I paid cash for my C7 + trade 03 C5 vert; if I could have got 0% or even 1.9% I would have financed it.
... oh but wait ... I was a post-negotiated net-cash buyer to the tune of $80k and then optioned the 0% financing.
Found it increased my insurance premium just a little bit by having a mortgagee pay-out added to it.
However let's say take $80k cash and buy 7300 shares of a rather safe monthly income fund.
Each month negotiate a few shares and add $425 of guaranteed monthly income and pay the loan payment.
The next month negotiate a few more shares with a little less guaranteed monthly income.
At any time you can negotiate the funds and still pay-out the loan ...
it's a hellova lot of work each month but the funds earn about $5k per year taxed as investment income.
Add the benefit of the 4% loan interest ($3k in year #1) that was waived ... and ... when the loan
is paid-out, an estimated 1200 shares will still remain that still earns $72 monthly income ... so who can win with cash ???
... and then why not do it again for the wife a year later
...oh by the way if wondering ... the fund is a financials fund - only the big Canadian Banks
... the Corvettes are not considered as investments though ... they are just toys
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There are few true investments in life. My strategy has always been not to buy anything unless I have the cash: house paid for - long time ago, kids educated - finished last year - $150K well spent, RRSP maxed long-time ago - ditto TFSA and other non-registered investments; but, still, if I can get something with minimal cost - eg. interest rate, I am all in. I never bought a car (always had a company car) unless all those other details were ticked and I've owned 3 other vettes and a 07 Shelby GT500 that I had modified to increase handling.
Yup ... to each their own ... and my example has the cash ... just not surrendered too quickly.
It does make for a rather very busy time putting together the tax return and for monthly payments
... but there is sometimes nothing better to do when snow has the summer toys parked.
I surely know I''m not the norm ... still got a teen, a mort and a business (full time) and finely-tuned to
making something from spending ... I'll get there in good time ...
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You are right: to each his own - if comfortable and if the cars are more important to each of you vs paying off mortgage and other financial concerns - then, that is all that is necessary - more power to you man - enjoy!!!! My name is down to order the C8. But will I? Not sure until I see it and see the difference it will cost me. I love my C7: loaded with everything I want and handles amazingly, as you know. I need room for golf clubs!!!
Just saying if youre an old school cash buyer and the cash back incentive is like $10k or once i saw Corvettes included in a 20% off promo 0% finance not worth it as its one or the orher. If you have to / want to finance then 0% is great..
I read you and understand: when I bought my SUV and did the math -it was worth it to me to take the 0%.
Call your dealership(s) and put it on their desk to call you when 0% (or something sweet) is available. If there is a creative deal-making General Sales Manager, you might be soon sitting at his/her desk without a middle-person salesperson going back and forth for you. If you were in Alberta, I could help you with a name. You have nothing to loose waiting months for the sales manager to call you back. If left with a salesperson, make sure to call them every 3-4 weeks, visit and get yourself recognized every time you are there. This is what I did and the dealership was 300km away ... I was very motivated and very few other potential corvette customers were. It's also always good to know if a Dealership ignores your motivation too (6 out of 8 were with me on 2 Corvettes) ... hence another small part of why my vanity license plate states "ya, ya, sure, sure, whatever"
... to some this might be too much time and effort, but to me it's why I happily sit in a drivers' seat now ...
Best of Good Fortune to you
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Thanks SN-III, I've left my name with a few dealerships in Ontario and tried dealing with a couple out in Alberta.. We couldn't come to an agreement on anything in late Oct/Early Nov but asked them to give me a call if the price becomes reasonable/negotiable to them. Hopefully they took that seriously. There are a few that I know will be willing to deal again in a few months but I'll definitely need to be the one making the effort first. My local GM dealer's sales manager is my neighbor - he had a picture of my trade-in from his window! But he was only willing to deal 2.31% off MSRP of a factory order.. small dealership but needless to say they try to make a lot of money on the vettes they do sell.
Awesome ... you have a good plan. My two vettes are purchased from a stand-alone family-owned GM dealer. Although it does matter that we don't drive these out-of-business, it's good for your neighbor (sales manager) knowing that as soon as they can meet your needs ... you are ready. Sometimes a dealership might have to sell a corvette for less profit in order to get two or more other models allocated. Sometimes a dealership might want to sell a corvette for less profit because they see a potential for referrals (each of my two had two loaded truck referrals soon after). Nothing is guaranteed but it is always good for your neighbor to let you know right away ... when they can sell you a Corvette before he notices you driving up with a deal they could have matched from somewhere else. Awesome neighborly love aside, business is business and a month-end sale is a month-end sale to any GM Dealership. I always seem to find success by stepping up my buying facade in the last week of every month as that is the week every GM Dealership Manager seems to stress the most ... above all I hope to hear you in that pilot's seat soon (whether in hibernation or not)
