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

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


iPhone 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