Infiniti offering 0% financing for 36 months on all '08 models
The credit crunch is affecting sales for every auto manufacturer. Toyota dropped a major bombshell when it announced that it would offer zero-percent financing on 11 of its models, and did it again by extending that promotion through the end of November. BMW followed suit and has begun offering 0.9-percent financing on every single one of its vehicles, proving that higher-end luxury marques are not immune to the downturn in sales. Now, it's Infiniti's turn. As part of its year-end sales drive, Nissan's upmarket division will be offering no-interest financing on all remaining 2008 models for up to 36 months through Nissan Motor Acceptance Corp. The automaker surely hopes these incentives will spur sales, which were down about 30% last month when compared to last year. Time to go out and get yourself a deal on that new EX.[Source: Reuters]
Get a WordPress.com Blog
Reader Comments (Page 1 of 1)
waiownsyou 7:31PM (11/05/2008)
If Mercedes follows suit, they have themselves a sale.
Reply
dea911 7:38PM (11/05/2008)
Thumbs down. If you can afford to do a 36 month loan you probably don't need the extra assistance on the percentage rate. I think for MOST car buyers you need at least 48-60 months to keep your payment comfortable.
Reply
SOhp101 9:29PM (11/05/2008)
48 months is doable but any term longer than that and you're buying a car you probably can't afford.
Rick 6:49PM (11/06/2008)
As pointed out above, this really only replaces leases as I don't think the 30% in lost sales are customers who could afford the payments on a 36 month loan. 48-60 is where they need to offer better rates if they want to increase sales. Those who could not afford these cars were able to lease them. If you take that away, you give those people no affordable option to buy with a 36 month loan.
Reply
DenverCruiser 2:13PM (11/06/2008)
Correction, technically if you need to do payments instead of cash.....you probably can't afford the car!
Reply