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$0 down, $0 payment for a year? where?

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Old Jul 20, 2003
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$0 down, $0 payment for a year? where?

hey my g/f is lookin for a car and is in desperate need of one right now. i remember hearin about mitsubishi and their zero down zero payments for a year deal. does anyone know if its still goin on or any other car manufacturers offering this type of a lease? she needs a car pronto and shes a poor college student....
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Old Jul 20, 2003
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I just heard an advertisement for that from Mitsubishi so it's probably still going on.
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Old Jul 20, 2003
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too bad it don't include the evo
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Old Jul 20, 2003
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those deals sound good, but if at all possible stay away, ive heard horror stories about those $0 down, $0 payments. just a heads up
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Old Jul 20, 2003
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If she's a "poor college student," what is she doing buying a new car?
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Old Jul 20, 2003
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um..zero payments, zero down...you figure out why zero sounds so good to a poor college student. doesn't take a genius. she figures by the time she graduates and gets a job (next jan) , she'll be ready to make payments.
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Old Jul 21, 2003
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Intrest Builds that whole year so When you do pay ayear later youhave to pay all that built up intrest causing a high monthly payment. plus to get that you have to Have friggin GOOD credit not no credit just because your young doesnt count you must have already built GOOD credit.
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Old Jul 21, 2003
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Here's something to think about and why the zero down zero payments for a year is horrible. You are STUCK with that car until it's paid off. why?

Let's say you get the car and make no payments for a year. When you DO start making payments, you now owe say $25,000 on a car that has 1 year of depreciation on it... meaning you owe 25 grand on a car worth only 18 or 19 grand. So you're already at least 6 grand in the hole.

It means you CANT get out of that thing without taking a huge financial hit, or waiting til you pay it off.
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Old Jul 21, 2003
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Originally posted by reytito
um..zero payments, zero down...you figure out why zero sounds so good to a poor college student. doesn't take a genius. she figures by the time she graduates and gets a job (next jan) , she'll be ready to make payments.
do you really think that mitsubishi is running that deal to help out poor college students, let her get a job, and as S2000Man so kindly pointed out, she'll still get screwed. so yourself.
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Old Jul 21, 2003
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I looked into that about a year ago. I was looking at a new eclipse. First off it is a on a buy only. And it is for 36 months. They quoted me after the first year of no payments, I had 36 months to pay off the car. After they figured my down payment of $5000 in the deal, my payments where going to be $650 a month for 36 months. So as you can tell with me owning a civic. I didn't do the deal.
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Old Jul 21, 2003
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Originally posted by Jodster
I looked into that about a year ago. I was looking at a new eclipse. First off it is a on a buy only. And it is for 36 months. They quoted me after the first year of no payments, I had 36 months to pay off the car. After they figured my down payment of $5000 in the deal, my payments where going to be $650 a month for 36 months. So as you can tell with me owning a civic. I didn't do the deal.
so in other words they wanted you to pay $28400 for a car that was probably worth half that.
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