Holden offering 0.5% finance and no deposit - Page 2

Rodge · 08-08-2012, 10:25 AM

Quote:

Originally Posted by csv8

Ford America are offering zero interest for 60 months.
http://credit.ford.com/

You see this is another example of what annoys me about the price we pay for Ford product here. Not only do we miss out on a whole bunch of new technology the American Ford's have but they get access to incredible finance offers like that... talk about rubbing salt into the wound. When was the last time we saw Ford Au offerring a credit deal even remotely like that ?...and then they wonder why Ford Falcon sales are falling here

Brazen · 08-08-2012, 01:45 PM

Quote:

Originally Posted by Rodge

You see this is another example of what annoys me about the price we pay for Ford product here. Not only do we miss out on a whole bunch of new technology the American Ford's have but they get access to incredible finance offers like that... talk about rubbing salt into the wound. When was the last time we saw Ford Au offerring a credit deal even remotely like that ?...and then they wonder why Ford Falcon sales are falling here

I think low interest rate deals are pretty clever in Australia, we are country who are obsessed with the interest rate level set by the RBA every month - last RBA meeting resulted in over 1800 articles in print media alone. Other countries are not so interested (pardon the pun).

The factory discounts will be removed while the interest rate deal is on, so it will be interesting to see if Holden will see an increase in sales during this week - if it is successful, it may be implemented more.

The aim is to reduce stock, hence why Colorado 4x4 and Cruze CD are excluded as demand is outstripping supply.

au adam · 08-08-2012, 03:02 PM

Ive aleady ordered a Colorado LX and yet to sort out the finance.Car is still about a month away.

aussie muscle · 08-08-2012, 04:15 PM

Quote:

Originally Posted by Polyal

Im no accountant so Im not sure how it all works, but props to them for giving something a crack.

i bet the interest after three years is staggering.

Quote:

Originally Posted by jpd80

or perhaps to get some walk ins to dealerships in the hopes of transforming them into other sales.

"You only have 10 seconds to decide" (salesman in 'the simpsons')

ED Classic · 08-08-2012, 04:17 PM

Quote:

Originally Posted by csv8

Ford America are offering zero interest for 60 months.
http://credit.ford.com/

Have been doing it for 15-20 years even when their economy was ok. Only a matter of time before we get it here and if Ford are the last ones to offer it sales will go down even more

deesun · 08-08-2012, 04:56 PM

Toyota have offered 2% interest before as well.

bobthebilda · 08-08-2012, 05:22 PM

mmmmmmmmmmmm if you check the Holden website now, they have started to advertise the .5% (comparative) interest rate deal. However, they have now taken the actual rrp prices off. Any car company could offer the purchaser 0% interest, if they put the prices up a few grand. Looks like Holden are just doing a Harvey Norman.

XtRmn8 · 08-08-2012, 05:51 PM

There is a thread about this in another forum. Someone inquired with a Holden dealer regarding and SV6 sedan that is currently $34990 drive-away.

If you go with the 0.5% finance option the price of the car is full RRP, which is $48k drive away!!

Shonky. · 08-08-2012, 06:07 PM

Quote:

Originally Posted by deesun

Toyota have offered 2% interest before as well.

at least with Toyota you can be assured that you won't pay a jacked up price for the vehicle cause Toyota's more or less sell for RRP

unlike the shat pot antics that go on at Ford and Holden when it comes to pricing

nstg8a · 08-08-2012, 06:15 PM

i guess its really no different to those second hand caryards that advertise no interest finance.
go and wander round the yard and virtually none will have the full price displayed just a weekly repayment figure.
do the sums and its just the interest is included in the price up front. last one i looked at had a BAII XR6 auto with average kays, full price worked out to be 22k.

Rodp · 08-08-2012, 06:20 PM

Quote:

Originally Posted by XtRmn8

There is a thread about this in another forum. Someone inquired with a Holden dealer regarding and SV6 sedan that is currently $34990 drive-away.

If you go with the 0.5% finance option the price of the car is full RRP, which is $48k drive away!!

Correct - it's a suckers deal luring in those that are blinded by the interest rate and not the fact that if you bought it a few weeks before at a discounted price on a 12.5% loan, you'd still have been miles better off.

jpd80 · 08-08-2012, 06:25 PM

Quote:

Originally Posted by XtRmn8

There is a thread about this in another forum. Someone inquired with a Holden dealer regarding and SV6 sedan that is currently $34990 drive-away.

If you go with the 0.5% finance option the price of the car is full RRP, which is $48k drive away!!

So what does that make the effective interest rate if you're paying that extra $13,000..... 11% or a bit more?

LOWAU · 08-08-2012, 06:56 PM

Quote:

Originally Posted by shonkymofo

at least with Toyota you can be assured that you won't pay a jacked up price for the vehicle cause Toyota's more or less sell for RRP

unlike the shat pot antics that go on at Ford and Holden when it comes to pricing

Same thing when Toyota was offering their 2.9 finance, no room to haggle in the purchase price compared to buying with your own money. But I guess the difference is much less then an SV6.

In the end they make the same $$$

jpd80 · 08-08-2012, 07:09 PM

Could Ford make a similar strategy work for them by,

1. offering curent discount drive away pricing

Or.....

2. Full RRP + ORC but with 0% financing...maybe over 48 months?

nstg8a · 08-08-2012, 07:10 PM

problem is that ford dont have their own finance company.

1967xrute · 08-08-2012, 07:13 PM

I still wouldn't buy a Holden.

vztrt · 08-08-2012, 07:30 PM

Quote:

Originally Posted by Rodp

Correct - it's a suckers deal luring in those that are blinded by the interest rate and not the fact that if you bought it a few weeks before at a discounted price on a 12.5% loan, you'd still have been miles better off.

Seeing as you can get new car loans for 8% you would go with the discounted price and pay more off each month.

jpd80 · 08-08-2012, 08:10 PM

Quote:

Originally Posted by nstg8a

problem is that ford dont have their own finance company.

They do but Ford Credit is no longer here in Australia, keeping their hands in their pockets will cost them dearly.

bobthebilda · 08-08-2012, 08:14 PM

Quote:

Originally Posted by nstg8a

problem is that ford dont have their own finance company.

How is that a problem. Holdens 0.5% finance offer is through St George bank.

GT0132 · 08-08-2012, 08:36 PM

This won't be costing them a fortune that's for sure.

They would have done their sums and no doubt teh terms and conditions would be structured in their favour...If there's a maximum period that the interest free period applies, any carry over will be at a hugely inflated rate. Also, there will no doubt be an indirect interest charge flagged as an "administration" fee which will be paid monthly (as there is with Harvey Norman interest free purchases). Also there will likely be no discounting and trade in prices will be slashed..

All this will do is encouarage those who can't afford it to buy a new car.

Those that will benefit most are those who would otherwise pay cash but see the benefit in using the financiers free money for a period of time and don't have a trade in. Obviously that would have to be weighed up with having to forego any discount available if paying with cash.

RSgerry · 08-08-2012, 09:23 PM

finally good to see some tiny interest rates on new cars./ they have been doing this in europe for years (my dad bought a new hillman hunter in the early 70's for 0%). nice to see some 2.8% and 3% figures, but the 0.5% is great.

weairy · 08-08-2012, 09:29 PM

I'd love to know the finance fees in terms of establishment fees etc. I assume they'd be somewhat astronomical to accommodate the low rate...

naddis01 · 08-08-2012, 09:37 PM

Quote:

Originally Posted by Brazen

The aim is to reduce stock, hence why Colorado 4x4 and Cruze CD are excluded as demand is outstripping supply.

It is offered on the 4x4 Colorado but not the 4x2.

Quote:

* Excludes Cruze CD, Cruze Equipe and Colorado 4x2 models.

weairy · 08-08-2012, 09:46 PM

But even everyday finance on new vehicles is getting cheaper...

Old man just signed off for his new 2012 Hilux SR5 Dual Cab with all the gear (and we all know Hilux's are selling like bloody $2 shots at a strip club). 5.75% finance on it through Toyota Finance (Esanda). Really isn't that bad when mortgage rates are around the 7% mark

2011G6E · 08-08-2012, 10:26 PM

Quote:

Originally Posted by Rodge

You see this is another example of what annoys me about the price we pay for Ford product here. Not only do we miss out on a whole bunch of new technology the American Ford's have but they get access to incredible finance offers like that... talk about rubbing salt into the wound. When was the last time we saw Ford Au offerring a credit deal even remotely like that ?...and then they wonder why Ford Falcon sales are falling here

Of course people will pop up and say you can't compare here to the USA (but you can...) where, for instance, you can get home loans over thirty years fixed rate at great rates.

For the amount of money the dealership is going to make out of not only you, but all the subsequent owners of your new Falcon or whatever down through the years in parts and servicing, they ought to offer zero percent finance here too...

Quote:

Originally Posted by weairy

But even everyday finance on new vehicles is getting cheaper...

Old man just signed off for his new 2012 Hilux SR5 Dual Cab with all the gear (and we all know Hilux's are selling like bloody $2 shots at a strip club). 5.75% finance on it through Toyota Finance (Esanda). Really isn't that bad when mortgage rates are around the 7% mark

Really? Interesting...What did he pay for it if I may ask?

davocol · 08-08-2012, 10:27 PM

I posted this months ago, ford should have done this already to help move stock but they have sat on their hands and done nothing. Holden have done the right thing and this will be a hit.

davocol · 08-08-2012, 10:27 PM

Double post.

Shonky. · 08-08-2012, 11:26 PM

Quote:

Originally Posted by weairy

I'd love to know the finance fees in terms of establishment fees etc. I assume they'd be somewhat astronomical to accommodate the low rate...

Nah, it's a comparison rate at 0.5, so it factors in fees.

Just a combination of the lending market being very flat so the Financiers are prepared to flex to write new business and Holden having such a lot of wiggle in their pricing. Only chumps (and those on 0.5% finance it seems) pay RRP for Holdens.

flappist · 09-08-2012, 10:07 AM

Has anyone actually contacted Holder to find out the real story rather than assuming or reading it on a forum somewhere?

I just rang holden to enquire about a SS ute and was told that the 0.5% finance was available to new cars, demos and applied to whatever price I negotiated.
I specifically asked about RRP and was told that it was not a criterion.

Brazen · 09-08-2012, 10:24 AM

Quote:

Originally Posted by flappist

Has anyone actually contacted Holder to find out the real story rather than assuming or reading it on a forum somewhere?

I just rang holden to enquire about a SS ute and was told that the 0.5% finance was available to new cars, demos and applied to whatever price I negotiated.
I specifically asked about RRP and was told that it was not a criterion.

Looking at the sums, it is working out that I would probably be better off trading in my 50,000km SV6 Sportwagon on a brand new SS Sportwagon.

Edit: If I can get a half-decent deal on a SS.