What's the catch with new cars and zero down?

East coast honda has zero down and 259$ a month on brand new accord. Could someone explain how this would work. Do you need a high credit score. I'm 23 y/o I've never gotten a ticket or in a accident in the 5 years I've been driving. So hopeful that would help with insurance. I'm in school full time and work part time and make about 10k a year. It has a 36 month leadership purchase plan. My car died I just have a year left in school. So i guess I could basically lease it for 3 years and keep it if i like it after then. http://www.eastcoastcars.net/index.htm

Probably a lease.

You pay them ~$10,000 to drive the car for 3 years, and then give it back. You end up owning nothing.

Yes, you need a very good credit score, Your income is way too low to qualify for a loan or lease.

Sounds about right for an Accord LX. It's basically a lease to own is what you are seeing, here. It's a horrible way for you to buy a car because you will pay sticker, or more, over the term of your payments. However, if you need a reliable car now and think you will be making a lot more money in 3 years, I can see why you may go this route.
Your payments over 36 months would be just over $9300 and the residual, I'm guessing, after 36 months would be around $14K.

Even though it says zero down, you still need to be prepared to pay taxes and fees, upfront. They may also require first month's payment, upfront and a refundable security deposit. Most states base the taxes on the lease payments, so figure $700 there. Doc fees vary, so assume $150 for estimate sake. Then plates and registration - again vary by state and the security deposit could be $500-$700.
This 'zero down' will likely end up being about $1500 down.

Its for "well qualified" people. That means very good credit and a full time job. Typically someone who has bought & paid for at least one car and has several years at the same full time job.

zero down excludes taxes, title & fees so its not really zero down.

And your insurance would be sky high at 23.

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