Another thing they will consider is your debt ratio. If you make (easy example) 1000 a month, and your monthly expenses are 900, don't expect to be approved.

Also, you can get a loan with less than perfect credit. Just be prepared. The 2.9% financing isn't going out to the people with a 700 or less credit score.

Another trick. Get financed through (my example) Kawasaki. Put half down in cash, and financed the rest through them. I'll make one payment to them. Then I'll transfer the balance to a 0% inerest credit card. (these are usually only good for the first year) Take my balance of 2400, divide into 12 payments, and in a year, it's paid for, interest free. Then cancel the credit card.

 

I have found that credit unions have the lowest rates. They will require you to become a member by opening a savings account, though, with maybe only $5.

 

Credit unions are excellent banking venues. I've been with one for over 15 years now and I'll never go back to a "regular" bank.

As for doing the partial financing and then transferring to a credit card and making fast payoff, that works, but you have to be very, very careful. Some special loan programs (such as programs offered by Kawasaki, or Honda, etc) can have penalties for early payoff...make sure you read the fine print and completely understand the loan before you sign.

Make sure you will be able to make those payments on that 0% interest card and get it paid off before the terms of the 0% introductory interest expire. If you don't, then they will slap you with the full interest amount (all the way back to original amount from day one) and also you immediately incur the full interest rate for the card on the amount remaining to pay. I've seen a few friends get whacked with that because later on, some things came up and they couldn't make the pay off in time.

 

Yep...my credit union has a deal with PNC so I can use my mac card at any pnc too.....
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Good point Dane. As for Kawi, they offer both ways, and I laughed when he asked if I wanted that as a revolving credit.

As with any venture that involves a large amount of cash, know what you're getting into. Make sure you read all the fine print. If you're not sure, saying no is the safest thing.