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Old 06-07-2008, 10:46 PM   #1
hoodlum
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Default 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

Pricing in Canada has been more than the US even though our dollar has been at par. Today Saturn announced 72 months of 0% financing plus $750 cash back. For us Canadians this is an amazing offer.

I just signed a deal for an XE manual with Air, sunroof, aluminum rims and heated seats for $346/month for 72 months with no money down. This includes the Ontario tax of 13%. My dealer is expecting both a blue & red Astra with my options to come in soon (the blue already has a VIN) and will get back to me on Monday as to when they will be coming in. The Red is my first choice but depending on the wait I may go with blue.
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Old 06-08-2008, 10:48 AM   #2
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

Without seeing the cash "take price" for the car no one can opine whether the zero per-cent financing is a good deal on not. Even with taxes factored into the transaction, the final line is that you are paying $24,912 for the car.

I don't know whether"gap" insurance is available in Canada, but you might check. With a 72 month obligation, it might be a long, long time before you capture positive equity in the car.
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Old 06-08-2008, 12:54 PM   #3
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

In canada the vast majority of people finance or lease their vehicles. Although Saturn doesn't have a cash "take price", based on the finance vs cash options that other manufacturer offer in Canada this finance rate would be worth about $3500. As an example Mazda is offering 0% financing for 60 months or rebates of $3100-$3900 (Cash deals) on the Mazda3. Of course we would save the 13% tax on this as well. So if Saturn were to offer a cash deal, the final price would be about $4k less ($21k) including the 13% tax or about $18,500 before tax. This seems very competitive now with the pricing in the US.

I always have GAP on my new vehicles due to the depreciation. The insurance company I use allows it for the first 3 years which is fine by me.
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Old 06-08-2008, 03:57 PM   #4
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

Dam! Bring that here to the state's! I might actually be able to afford one,could happen at some point Chevy just put 0% for 60 months on the Cobalt.

Most Insurance companies include gap for the first 3 year's of the purchase. Might be different in Canada.
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Old 06-11-2008, 08:55 PM   #5
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

Quote:
Originally Posted by Ashkicker View Post
Without seeing the cash "take price" for the car no one can opine whether the zero per-cent financing is a good deal on not. Even with taxes factored into the transaction, the final line is that you are paying $24,912 for the car.

I don't know whether"gap" insurance is available in Canada, but you might check. With a 72 month obligation, it might be a long, long time before you capture positive equity in the car.

Are you out of your mind? 0% financing is always a good deal. You get to spend somebody elses money and take years to pay it back and not pay a cent in interest. Try asking for 0% on a house loan!
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Old 06-11-2008, 09:01 PM   #6
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

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Originally Posted by Pete93SL1M View Post
Are you out of your mind? 0% financing is always a good deal. You get to spend somebody elses money and take years to pay it back and not pay a cent in interest. Try asking for 0% on a house loan!
I think one of Ashkicker's points was that if you finance a car for 6 years you better plan on keeping it. Even though you aren't paying interest you aren't going to be able to trade or sell it for a little while if you want to at least get what you owe on the vehicle.
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Old 06-11-2008, 11:18 PM   #7
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

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Originally Posted by sclindon View Post
I think one of Ashkicker's points was that if you finance a car for 6 years you better plan on keeping it. Even though you aren't paying interest you aren't going to be able to trade or sell it for a little while if you want to at least get what you owe on the vehicle.
You can trade out any time you want, just gotta come up with the cash...hehe. Consider a vehicle financed with $0 down for 72 months. You are financing 110-115% of the value of a depreciating asset, one that on the average drops 30% the first year, another 15% the second and another 10-15% the third. Yep, you'll definitely be "upside down" for a while but that is why they recommend putting 30% down to start with. Does anyone do that? Most don't, then wonder why they can't trade out after 24-28 months without financial pain. Everyone trys to buy more than they should to keep up with the neighbors or whatever peers you are trying to impress.

I just wish we had *something* on the Astras, anything to bring people in and get them driving these cars. Doesn't even have to be money or special rates if there is enough marketing muscle. They are a wonderful ride. We can't sell what we don't show, tho. AWD V6 XE VUE, anyone? 15/22MPG anyone? I gots plenty of them!
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Old 06-12-2008, 11:11 AM   #8
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

You can trade out any time you want, just gotta come up with the cash...hehe. Consider a vehicle financed with $0 down for 72 months. You are financing 110-115% of the value of a depreciating asset, one that on the average drops 30% the first year, another 15% the second and another 10-15% the third. Yep, you'll definitely be "upside down" for a while but that is why they recommend putting 30% down to start with. Does anyone do that? Most don't, then wonder why they can't trade out after 24-28 months without financial pain

Pete, you are the first car sales representative I have have ever seen that has given an accurate and truthful account of the negative equity/depreciation aspect of long term car financing. The typical car dealer sales and F & I representatives seem to charm prospects only on the amount of monthly payment. Nothing really wrong with zero percent financing, but would seem to me that the people that could best benefit from the program are the ones that don't need it in the first place.

Sounds like the Astra is a sporty little Euro platform. Great. What I really don't understand is GM's purpose for placing it in the Saturn product line.
Saturn established a niche with the reliability, fuel economy and dent resistant polymer outer skins on the "S" Series. Up to 40,000 happy owners proudly took their "S" cars for annual homecomings at the Spring Hill factory.
(I wonder if even 4 owners ever took their Neon to the Belvidere, Il plant where they wre made)!

Yea, the numbers crunchers in the GM tower said we ain't making sufficient profit per car with the "S" series so lets see if we can sell Relays instead.
Seems to me that you have a marketable product with the Kansas City built Aura, but don't you suppose that you would have more traffic at your show room if you had a fuel efficient compact or sub-compact model on the lot?
(Hint! During your lunch hour drive by a Honda or Toyota dealership)

I just don't understand the math. With dollar exchange rate how can GM possible be making a buck on the Astra? (Maybe they will with upcoming Mexican production). Isn't shipping from Europe more expensive than distribution from central Tennessee? 200 day supply? Are dealers eating the floor plan costs? I don't know if the zero % financing requires dealer participation, but if not, this finance expense is gobbling up cash that GM could have probably better used for future product development.

Cyclical demand/pricing structure may have impaired GM profitability on the "S" product line, but I'd wager that GM is losing much more money on the Astra.
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Old 07-03-2008, 03:49 PM   #9
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

Saturn Canada is now also offering $500 towards gas in addition to the $750 rebate and 0% for 72 months financing.
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Old 07-04-2008, 07:15 AM   #10
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

i took delivery of my xr on june 19. also, i took advantage of the 0% over 72 months but i did have a large down payment + trade-in. the advertising for the gas card states that purchaser/leasee must take delivery from june 19 to ??. i did not receive the card. the local chevy dealer told me about the card 2 days prior to my xr purchase but i had no details. today, i will contact the saturn dealer about the card.
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Old 07-04-2008, 07:32 AM   #11
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Default Re: 0% finanancing for 6yrs on Astra plus $750 rebate (Canada)

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Originally Posted by hoodlum View Post
Saturn Canada is now also offering $500 towards gas in addition to the $750 rebate and 0% for 72 months financing.
shoot.... got it a couple of weeks too soon
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