Holden 0.5% Finance

[super coach]

I have seen this splashed across all the papers this morning, couldnt find a thread on it. was seeking people thoughts advice.

is this a sign Holden is only 12 months behind Ford and are signalling early problems?

is it a good deal/buy as Holden has never done this sort of thing but Toyota and Nissan have been advertising something similar? or Holden trying to shift old stock before VF arrives?

[5.7heaven]

I would've thought shifting stock for new models = low prices (similar to EOFYS)
Low interest rates, i'm thinking low sales.
And is it 0.5% for the life of the loan, or just the first 6-12months?

[Toddler78]

Reading the fine print, the offer is only available for another 2 weeks so better get in quick. The 0.5% comparison rate is based on a 5 year loan but doesnt include all fees, so hardly a proper comparison rate. and is based on a finance figure of $30,000 another other figure and the comparison rate may(will) change.

As with most deals (to good to be true) it is designed to get people in the door and buying cars. The actual promotion will only be eligible for a small % of customers

[aratic]

Wow :bravo:

I heard on Sunrise yesterday morning that Renault are doing 0% finance plus $199 capped priced servicing for the next 3 years.

Reckon it could be a good time to upgrade in the coming months

[loudvtss]

Reading the fine print, the offer is only available for another 2 weeks so better get in quick.
From the emails I received from Holden dealers and articles I read the offer is only valid for 1 week between Thursday 9th August and Wednesday 15th August.

[VYBerlinaV8]

It's something I've seen advertised a lot in the US, and can be used as a means of getting customers to pay RRP. It's worth checking numbers, because if you aren't borrowing a lot of $$, the savings may not be as big as first they seem.

[RATTLER]

Wow! 0.5% does sound to good to be true!

[XUV]

it should be that low or 0% , as you're buying a product that depreciates like 2moro .

[super coach]

Holden have on their website SV6 for 36,990 drive away, so if you work from that price is that RRP? I thought that was already on special with $1500 worth of extras. This 0.5% also covers Demo models not just brand new

[VYSHSV8]

Mmmm might have to do some calculations I think


Sent from my iPhone using Tapatalk in the middle of Farkin no-where

[csv rulz]

As far as I am aware the maximum term of the loan is 36 months
Renault have a similar thing on at the moment 5 yr unlimited km warranty, 5 yr 24 hr roadside assist, 0.00% finance , capped price servicing

[Marco]

Holden didn't do well in July sales - Commodore and Cruze were both down significantly - so this looks like a way of moving some units for August. Would be interesting to see if the dealers are still willing to doscount or you'd be paying RRP, but the Holden website does still have the usual raft of specials (eg. SV6 for $37k, Equipe, Thunder Ute etc).

[5.7heaven]

capped servicing probably only applies to the diesels that get serviced once a year lol

[super coach]

So I went down to the Holden dealer at lunch time today even though they are wankers and would never buy from that dealer.

The go is this, I said was interested in a SV6 Auto at the 0.5%, was told straight away it only applies to new cars and not demo cars (even though it says in the fine print that it does include demo cars) I was then told that the current special of 36,990 wouldn’t apply to the SV6 and it would be RRP.

So I said fine lets work it out, RRP for SV6 Auto is approx $45k then add all you’re on road costs dealer delivery etc and the total comes to $48k. The term of the loan is 5 years and they only do the 0.5% for the first 3 years. You then have to pay a balloon of 35% of the total of the car at the end.

So it works out that in the first 3 years you end up paying off $31k at 0.5% and are left to pay the “balloon” or “residual” (they used big words to try and bamboozle me) which is 16K, if you cant pay the 16k at the end they then re-finance that total at what ever the interest rate is at that time. I then asked if there were any fees etc was told no, but some how there is a $278 set up fee or something of some sort (ummm isn’t this a fee?) wanker finance guy.

So the weekly repayment would be $203 and $885 per month

I left in disgust and didn’t ask how much interest you would actually pay over the 3 years or whether you could pay more per month to finish it at exactly 3 years without a balloon at the end. Clearly shop around at other dealerships you could get a good demo, you could also work out what you would have to pay per week or per month for the 3 years.

[5.7heaven]

And in the end you pay $55k for a car thats only worth $35k and once it leaves the dealer it is worth $25k

[XUV]

yep , they wouldn't do it if it wasn't stacked in their favour .
best is go to an auction , buy a 2 yr ex-gov fully serviced VE whatever at half it's original price .

[super coach]

depends what interest rate you get, sometimes it might be 9% or even 12% and even though the car is $36,990 by the end of the 3 years or 5 you sometimes end up paying close to what it works out at 0.5% finance.

if you want a near new car, look at demo's they sometimes have good buys

[5.7heaven]

+1 for the auctions. Last yr I picked up and ex police 2009 sportwagon for $19k. Also looked at an 09 SV6 manual for $19k

[redvxr8clubby]

depends what interest rate you get, sometimes it might be 9% or even 12% and even though the car is $36,990 by the end of the 3 years or 5 you sometimes end up paying close to what it works out at 0.5% finance.

if you want a near new car, look at demo's they sometimes have good buys

Agreed, it looks like it's all smoke and mirrors. If it was a case of a $34990 da SV6 as has been recently been advertised (for a manual), then .5% would be fantastic deal - at full RRP, it's probably no different to a new $35K car then normal rates for interest. You'd have to check out the figures. If it's only on until next week it doesn't matter much anyway. Of course it's possible they put this on for a few weeks and gauge the success or otherwise for future promos.

[XUV]

+1 for the auctions. Last yr I picked up and ex police 2009 sportwagon for $19k. Also looked at an 09 SV6 manual for $19k

i got the oldman into a '10 Ve Sportswagon 3.0 with the International package for $17800
and it had 4 brand new 18'' RE-002 , 6 mnths reg , ex council and fully serviced .
I told him it was a 186 , so he's gone full circle now , since his first car was a HR 186 Wagon Special , lol

[dazzrael]

toyota have a 2.9% finance deal at the moment, they did the same thing in december last year. i bought a new corolla on it and its a great deal! i said at the time on this forum, that if holden did something similar i would have bought a cruze...... looks like they heard me! you watch sales go up while this deal is on.

[bonners]

0.5% finance is just another way of wording a deal or writing the figures.

Either a $70k rrp car reduced $6-$10k at 7% or rrp at 0.5%. Probably slightly better in the long run on 7%... Don't know the exact figures.

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[Plenty]

Dad just purchased new SV6, the deal was made all the back and forth etc etc and then signed with the usual subject to finance. Then the usual accessories dealer and then onto the finance rep, post #14 you have been fed a load of dribble. 0.5% finance was worked on the total cost after the signing ie. post bargaining read not RRP ans for the total payed over the 36 months

It's a very good deal and works as it says it's just a lot of money to pay in 3 years for a lot of people, as for what does the car yard gain? Well it gets some much needed sales, probably a lot that it would not have without the 0.5%

It's a deal GM Holden have done with the lenders not the car yards. Well that's our experience with the deal anyway! Seriously considering updating myself!

[redvxr8clubby]

Dad just purchased new SV6, the deal was made all the back and forth etc etc and then signed with the usual subject to finance. Then the usual accessories dealer and then onto the finance rep, post #14 you have been fed a load of dribble. 0.5% finance was worked on the total cost after the signing ie. post bargaining read not RRP ans for the total payed over the 36 months

It's a very good deal and works as it says it's just a lot of money to pay in 3 years for a lot of people, as for what does the car yard gain? Well it gets some much needed sales, probably a lot that it would not have without the 0.5%

It's a deal GM Holden have done with the lenders not the car yards. Well that's our experience with the deal anyway! Seriously considering updating myself!

If your dad paid say around $36990 for an auto SV6 plus any extras at normal and then secured .5% on top, he has done very well. Looking on Carsales the deals that quote .5% interest have the $35K cars at nearer to $42K or $43K, clearly marked up by about $7K judging by these ads.

[Plenty]

If your dad paid say around $36990 for an auto SV6 plus any extras at normal and then secured .5% on top, he has done very well. Looking on Carsales the deals that quote .5% interest have the $35K cars at nearer to $42K or $43K, clearly marked up by about $7K judging by these ads.

When i read all the negative posts i thought i would share, but you are right it appears they are jacking up the prices just for the "special offer", which i could see where everyone is coming from. One thing he never mentioned he was taking the 0.5% until he spoke to the finance guy so the sales manager had no idea i suppose.

[redvxr8clubby]

When i read all the negative posts i thought i would share, but you are right it appears they are jacking up the prices just for the "special offer", which i could see where everyone is coming from. One thing he never mentioned he was taking the 0.5% until he spoke to the finance guy so the sales manager had no idea i suppose.

So if he has paid well over $40K for the car, the price has been jacked up from previous "sale price" I'm thinking you'd probably be paying more than $43,000 for an SV6 auto with the .5% finance, there are a number of ads on Carsales which have SV6's for $49K, which is more like a $13K mark up over recent prices advertised on Holden website ($34990 for a manual drive away - I believe autos in an SV6 are typically normally about $1000 more than a manual, so I think anything much more than $36,000 for an auto SV6 isn't a very good deal. Of course .5 % finance does offset this, but overall you'd have to negotiate a much better price than I see advertised to make this a good deal.

[tezzastreasures]

hey all. just bought a new tm barina hatch on wednesday for the daughter. manual with metallic paint. total interest over 3 years. $187.00. :dancenana: with a ballon payment of $6915 at the end. i,m pretty happy with that. repayments are $78 a week.

cheers

[qikute83]

I went into a dealer on wednesday to enquire about this sale i was told by him that an sv6 would cost me 45k on the finance deal i then asked how much without the special...... 35k on the road

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[falcom]

I went into a dealer on wednesday to enquire about this sale i was told by him that an sv6 would cost me 45k on the finance deal i then asked how much without the special...... 35k on the road

Sent from my GT-I9100 using Tapatalk 2

If that is correct then Holden marketing has pulled the wool over the consumers eyes again.

A friend of mine bought a Cruze as he was impressed with the ADR fuel economy only to find that in the real world the fuel economy was
Much worse than other cars that had higher ADR figures. Holden obviously tuned/geared the car for a good ADR figure for marketing
Purposes rather than for drive ability and real world economy.

[VYBerlinaV8]

And in the end you pay $55k for a car thats only worth $35k and once it leaves the dealer it is worth $25k

This is spot on, and something to think about.

[redvxr8clubby]

hey all. just bought a new tm barina hatch on wednesday for the daughter. manual with metallic paint. total interest over 3 years. $187.00. :dancenana: with a ballon payment of $6915 at the end. i,m pretty happy with that. repayments are $78 a week.

cheers

At least the numbers seem reasonable, so thats about $19K all up, which isn't bad considering the car is financed (assuming no deposit on top of those numbers).

[bladerunner]

with a ballon payment of $6915 at the end.

also known in the finance industry as a "never,never" loan, may suit some peoples circumstances but theres no way i'd ever do that myself

[tezzastreasures]

nope no deposit and no trade. $17890 plus $187 interest. win. win. i am now going to sell my daughters 08 barina tk hatchback for $7k to cover the ballon payment at the end. not a bad deal as far as i,m concerned.

cheers tezza

[planetdavo]

End of the day it is up to the consumer to sort out which deal is best for themselves.
For some it will be best to pay cash and get the sale prices. For others it will to get their own finance but still get the sale prices.
And finally for SOME it will be cheaper to get the 0.5% finance and pay RRP. No-one is holding a gun to anyone's head forcing them to take any of these options. No-one's even forcing them to buy a Holden to begin with.

[Vanman]

Seems a bit silly, to advertise the low interest offer, but only allow the cars to be sold at full retail price.

[Peter B - CV8]

Seems a bit silly, to advertise the low interest offer, but only allow the cars to be sold at full retail price. The dealer subsidises the lender for the low rate. If they then sold the car at a reduced price, they would end up making no money at all....and go broke.

[GJ227]

The dealer subsidises the lender for the low rate. If they then sold the car at a reduced price, they would end up making no money at all....and go broke.

This is just like Harvey Norman with interest free for 36 months, if you put it on finance you pay the store ticket price, if you want a deal, you pay cash or use your credit card and pay the interest that your CC stings you.

GJ227

[Vanman]

You can haggle at HN with your GO card, in fact you can use your GO card in alot of places other than HN and get a discounted price. I don't see how the store really cares about how you pay for it, other than cash. The store still gets the same money, still get the sales targets and still gets the number targets i assume they have with GO mastercard. I could be wrong about how it works, but just with my experience, i've been able to haggle at both HN and The Good Guys whilst using the interest free offer.

[planetdavo]

Seems a bit silly, to advertise the low interest offer, but only allow the cars to be sold at full retail price.

At 0.5%, someone has to subsidise the "missing" repayment percentage the owner isn't getting charged. That is purely the reason you can't have your cake and eat it too...

[Toddler78]

as davo said, and as others have mentioned the deal isnt going to suit every buyer, nor does any other deal however it is a great deal for the not so savvy buyer that wants a holden and doesnt feel comfortable haggling

[VYSHSV8]

At 0.5%, someone has to subsidise the "missing" repayment percentage the owner isn't getting charged. That is purely the reason you can't have your cake and eat it too...
And then he joins up here and realises he has just been raped up the Arse lol and then goes to get warranty and realises he has truly been done over by one big muther Fckr

[dazzrael]

if holden operated thier OWN finance business then they would be able to compete on price as well. when i bought my new corolla on the toyota 2.9% they cut thousands of the list price. i got a bargain as far as im concerned. i think you will see more and more car companies selling cars this way as it works - they sell more cars!

[planetdavo]

if holden operated thier OWN finance business then they would be able to compete on price as well. when i bought my new corolla on the toyota 2.9% they cut thousands of the list price. i got a bargain as far as im concerned. i think you will see more and more car companies selling cars this way as it works - they sell more cars!

It would still cost a manufacturer far more than these deal rates to borrow the funds to finance it. Even banks have to borrow vast amounts of money to fund their loan base. As I said, some one has to pay the "missing" percentages.
The Toyota example is a good one actually. Anyone can sell more cars by giving them away, but to make money out of them requires smarter thinking. Toyota has double the market share of any other manufacturer, yet they've lost money for the last two years straight. Holden, on half the volume, has made decent money the last two years...

[VH-COM]

Looks like it worked ....


Holden sales, marketing and aftersales executive director John Elsworth said this week that Holden’s finance deal, which ended on August 15, had resulted in a 100 per cent increase in customer orders.

http://www.goauto.com.au/mellor/mellor.nsf/story2/9CE75EFF3685B678CA257A6A0001BA52

[BigFella]

we just did 1.5% on all hondas incl demos ect.

It was a great sale considering not many people buying honda atm. There was NO set up or hidden fees, 1.5% was over 3 years with no balloon. Must have 20% deposit and for lots that was the trade-in or half of it.
If people couldnt get the 20% deposit in, the rate went to 4.95% over 5 years.

I had few people who were looking at captivas but had to pay full RRP. We could still neg the retail price on our Honds's also!

[motorin on]

Considering the interest I am paying on the loan with Esanda I got through the Holden dealer ,if I had known this low interest deal was coming up I would have waited and bought a new Cruze instead of a 1 year old car and would have still been in front
I needed a car in a hurry but a few weeks wouldn't have mattered
I remember when Ford Credit was in operation,not sure if they still are,pretty sure Holden did their own finance at one stage also (GMAC)

[redvxr8clubby]

Looks like it worked ....



http://www.goauto.com.au/mellor/mellor.nsf/story2/9CE75EFF3685B678CA257A6A0001BA52

I guess it was successful, I have seen ads on TV for the last 2 nights advertising .5% again, the ads I saw only seemed to mention SV6 sedan, wagon, and ute.
Edit - Looking on Holden webite, they have removed the $34990 pricing on the SV6, only listing others such as the SS at $40990, so my guess is if you want an SV6 at .5% you will be paying more than the discounted price of an SS without .5% finance.

[csv rulz]

Considering the interest I am paying on the loan with Esanda I got through the Holden dealer ,if I had known this low interest deal was coming up I would have waited and bought a new Cruze instead of a 1 year old car and would have still been in front
I needed a car in a hurry but a few weeks wouldn't have mattered
I remember when Ford Credit was in operation,not sure if they still are,pretty sure Holden did their own finance at one stage also (GMAC)

With the recent adds I have noticed that the 0.5% is through Esanda

Sent from my HTC One X using Tapatalk 2

[MickStephens]

Offer valid till the end of this month.

I work at a Holden dealership and sell pre owned cars. The 0.5% IS available on demos.

Anyone who has any questions on how it works, post in here or PM me and ill help where I can.

Offer Valid this month on MY12 SV6 Sedan, Sportwagon and Ute ONLY...

Its a great deal if you have a decent sized deposit to put in to keep the weekly payments manageable. Otherwise, most people can't afford the higher payments over the limited 36month period.

Cheers, Mick

[MickStephens]

Note, I don't sell new cars yet. Only pre owned. I prefer pre owned sales.

Cheers, Mick

[MickStephens]

With the recent adds I have noticed that the 0.5% is through Esanda

Sent from my HTC One X using Tapatalk 2

Depends on which dealer you use. We all use different lenders.

Check out the actual info on our site for more info.

Click Here >>>Latest Finance Offer (http://www.ballanholden.com.au/latestoffers)

Cheers, Mick

[MickStephens]

Seems a bit silly, to advertise the low interest offer, but only allow the cars to be sold at full retail price.

Depends where you buy it from and who you buy it from.

If it meant I sold 30 more cars for the month at minimal profit, id do it. Means you have a car of mine and when anyone you know is in the market for a car, you'll possibly send them my way cause I look after people :D

Cheers, Mick

[MickStephens]

Holden have on their website SV6 for 36,990 drive away, so if you work from that price is that RRP? I thought that was already on special with $1500 worth of extras. This 0.5% also covers Demo models not just brand new

If I was selling it, $36,990 would be the price no matter how you paid for it :D

Cheers, Mick