Uploaded July 2024 | Updated September 2026, 3 weeks ago
If you want to buy a car and you can get it with 0% interest and 0 percent down, what’s the problem. I got caught in this offer a while back, when I bought a mattress and the lady said zero down and 0 percent interest, you just have to pay on time and payoff by this date. I walked out with the mattress and a free pillow. But boy was I wrong about buying that thing.
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1. How do they Win?
- Remember businesses need to make money
- So one does something like this without there being an upside for them right
- So let's take a look at the benefits they get
First: Moving Slow Selling vehicles and clearing out inventory
- They select the models and trims
- Since we have these vehicles that are taking up space and we are not selling them
- Let's make this offer and make sure we make a good profit now
- Entice the customer by saying zero interest
Second: Higher Sticker Prices, expensive add-ons, and strict payments
- It's like that bed I bought, what I didn’t know is that the interest was accumulating anyways
- And that if I missed a single payment all the interest would be added in at once and the deal was done
- When they make this offer to you, and since they want to make the money now
- They are usually not going to be willing to negotiate on the price, heck they may even raise the price
Example: Buying a car for 20k and paying 4.5% interest and the same car they may sell it to you for 24k but 0%
- With the interest you pay $30 less
- It just looks attractive until you do the math
- I paid $2000 for that bed, I could spent $400 on gotten a much better deal on Amazon
Third: you lose if you are not perfect your benefits and get charged late fees
- You don’t use the terms of the loans
- The company does
- So usually they come with this loophole in it
- Miss a payment, you lose the zero interest and you get charged fees and sometimes all the interest that you didn’t pay before
- I remember Paypal had something like this going on a while back
- Imagine the interest rate they are going to give you too
2. What do you gain
- Get to walk out of the door with a car you can't afford to pay for in cash
- And with a higher price tag
- And also a loan waiting to explode
The biggest damage they do
- Is providing you with a way to buy something you can't afford
- By definition that sounds stupid, if I couldn’t afford then how do I have it
- The answer is leverage, you borrowed it, you don’t own it
By the way, I should add this too:
- A lot of these offers are made but very little people qualify
- They need to have an extremely high credit score and even then the cons are the same
- So may go, find out you don’t qualify but they have some other deal for you
3. So what is the solution
- Purchase a car in cash ( you pay zero interest on those )
- Don’t have to worry about the value going down because you own it
- So if you were going to spend $500, $700, or even $1,000 per month on that car or truck
Buy a beater for now: a reliable Toyota or Honda that runs forever
- Save that money per month
- And in a year or three, buy the car you want
* PRO TIP*
INFORMATION IS EVERYTHING
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Disclosure & Educational Disclaimer:
Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.
If you want to buy a car and you can get it with 0% interest and 0 percent down, what’s the problem. I got caught in this offer a while back, when I bought a mattress and the lady said zero down and 0 percent interest, you just have to pay on time and payoff by this date. I walked out with the mattress and a free pillow. But boy was I wrong about buying that thing.
💲Patreon Exclusive💲
patreon.com/tommybryson
😎Call Me😎: bit.ly/30IBr0i
😎Second Channel😎: bit.ly/3c4sVPS
👨🏽💻Financial Freedom Course👨🏽💻$100 OFF CODE: LONGTERM
Link: longtermteam.teachable.com/p/financial-freedom-steps-from-nothing-to-freedom
1. How do they Win?
- Remember businesses need to make money
- So one does something like this without there being an upside for them right
- So let's take a look at the benefits they get
First: Moving Slow Selling vehicles and clearing out inventory
- They select the models and trims
- Since we have these vehicles that are taking up space and we are not selling them
- Let's make this offer and make sure we make a good profit now
- Entice the customer by saying zero interest
Second: Higher Sticker Prices, expensive add-ons, and strict payments
- It's like that bed I bought, what I didn’t know is that the interest was accumulating anyways
- And that if I missed a single payment all the interest would be added in at once and the deal was done
- When they make this offer to you, and since they want to make the money now
- They are usually not going to be willing to negotiate on the price, heck they may even raise the price
Example: Buying a car for 20k and paying 4.5% interest and the same car they may sell it to you for 24k but 0%
- With the interest you pay $30 less
- It just looks attractive until you do the math
- I paid $2000 for that bed, I could spent $400 on gotten a much better deal on Amazon
Third: you lose if you are not perfect your benefits and get charged late fees
- You don’t use the terms of the loans
- The company does
- So usually they come with this loophole in it
- Miss a payment, you lose the zero interest and you get charged fees and sometimes all the interest that you didn’t pay before
- I remember Paypal had something like this going on a while back
- Imagine the interest rate they are going to give you too
2. What do you gain
- Get to walk out of the door with a car you can't afford to pay for in cash
- And with a higher price tag
- And also a loan waiting to explode
The biggest damage they do
- Is providing you with a way to buy something you can't afford
- By definition that sounds stupid, if I couldn’t afford then how do I have it
- The answer is leverage, you borrowed it, you don’t own it
By the way, I should add this too:
- A lot of these offers are made but very little people qualify
- They need to have an extremely high credit score and even then the cons are the same
- So may go, find out you don’t qualify but they have some other deal for you
3. So what is the solution
- Purchase a car in cash ( you pay zero interest on those )
- Don’t have to worry about the value going down because you own it
- So if you were going to spend $500, $700, or even $1,000 per month on that car or truck
Buy a beater for now: a reliable Toyota or Honda that runs forever
- Save that money per month
- And in a year or three, buy the car you want
* PRO TIP*
INFORMATION IS EVERYTHING
💲Patreon Exclusive💲
patreon.com/tommybryson
👕Merch👕
teespring.com/stores/tommybryson
✅2 FREE AUDIOBOOKS✅
amzn.to/2Enayo8¬¬¬
🎁ACORN FREE $5🎁
Link: acorns.com/invite/38EYSU
⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: amzn.to/2VGbxt9
👨🏽💻DISCORD PRIVATE GROUP👨🏽💻
discord.gg/EcZEHpA
My Camera Gear: amazon.com/shop/tommybryson
✔ Help Us Reach 600,000 Subscribers: goo.gl/0wvm6w
😎All My Social Media😎
Link: https://linktr.ee/tommybryson ---
Disclosure & Educational Disclaimer:
Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.
