GenVibe - Community for Pontiac Vibe Enthusiasts

For what it's worth, while I was on the phone with a GM Pontiac dealer, I was inquiring as to what terms they typically approve 0% financing on. The finance manager explained that with them, they base it on a 4-tiered system where there are tiers "S (which is the "perfect buyer"), then tier A, B, C, and D. Typically anyone that rates a tier B or above are the ones who can be offered the 0%. Then after some research, I stumbled across this article, which isn't based on 0% financing but rather on credit approval in general. http://www.edmunds.com/advice/....htmlEither way, I am particularly interested in this because I am in need of the 0% deal while it's here and I am trying to learn more about this sticky little 0% topic. Any experiences or words of wisdom on this front?

Just hypothetical, but I always assumed you needed a good credit score AND a significant down payment (15% to 20%) to get the 0% rate.

I just got 0% on my new Outlook about 3 weeks ago. I have a good credit score but I didn't put anything down. I was turning in a lease, so that might have been the reason.Mike

For what it's worth...I asked another dealer today what it takes to get the 0% is to have a 621 or better on the FICO...hmmm...

I got the 0% with a FICO score close to a "good" rating and only my trade in as money down. I honestly thought I wouldn't get approved, but I did!

Quote, originally posted by zathrak »For what it's worth...I asked another dealer today what it takes to get the 0% is to have a 621 or better on the FICO...hmmm...621? Last I checked mine was 814. They ought to pay me to borrow money.

With an 814 YOU should be in Washington, or on Wall Street, straightening those folks out!'Jake75 for Congress in 2010'

haha you could probably add all 3 of my scores up and still not get 814!!!

Quote, originally posted by kostby »With an 814 YOU should be in Washington, or on Wall Street, straightening those folks out!'Jake75 for Congress in 2010'Yeh - I wonder who got the other 36 points. But if I'm so smart, why ain't I rich? And why did I lose so much in the market recently, and why I am standing in front of a mirror practicing "Do you want fries with that" and "Welcome to Walmart"?.

it's not hard to get a fico score in the 800's. Both my wife and I have scored that high.

Did I say getting an 800+ FICO was hard?Sometimes when I shake my head about people (on here and elsewhere) who want to buy a new car with no money down I have to remember 42 years ago when I bought a new 1967 Cadillac Deville Convertible for about $6,000 out the door. My salary was $10,000 a year at that time. I think I financed 95% of that with a personal bank note. Back then it was for 6 months - when it came due you paid the interest and something on principal (or not) and renewed it. I had it paid off in about 3 years. I also remember my auto insurance being $30+ something every three months.

my credit score was 812 and i have to pay 7% finance grrr i think i got ripped...but whatever i was desparate for a new car and wanting to get rid of my gas guzzler lol