While zero is a nice round number, most consumers either cannot afford the big monthly payments or don't have sharp enough credit to swing a zero percent deal, according to the Detroit Free Press.
But dealers aren't complaining that too few customers qualify for no-interest financing. They're selling vehicles with other deals.
"You've got dealers who have gotten a real economic spurt," said David Cole, president for the Center for Automotive Research in Ann
Arbor, Mich. Cole said he has one friend, a dealer in Holland, Mich., whose October profits alone equaled the profits for the previous nine
months.
Marc Henretta, a spokesman for the Chrysler Group in Auburn Hills, Mich., said many customers look for the zero percent deals but then decide to finance with other available low-rate deals. "It's a great hook for bringing folks in but the majority opt for something else," Henretta said.
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