The current ads Mitsubishi Motors is pushing includes ZERO percent financing AND no payments until 2003!

I wonder what fool within the company thought of that. What's to prevent people from using the vehicle for a year then giving it back -- aside from a bad credit rap? How long before Mitsu goes belly up?

Meanwhile, my local Country General store is holding its final closing doors sale. The only farm outlet in this small community.

Anything like this happening in your area?

-- bruce (rural@inebraska.com), December 13, 2001

Answers

Bruce, I would not plan on Mitsubishi going under any time soon; large corporations do not do dumb things, they apparently are strong enough to offer this deal. I, myself would not buy because when I started making new car payments the car would allready have a years wear on it. Which means that I would need to keep the car running a year longer than normal by buying parts from Guess Who? All they are doing is shifting am amount of money to an area where more profit is to be made.

-- mitch hearn (moopups@citlink.net), December 13, 2001.

While Mitsubishi Motors may not be a top brand in the US, It is a major player in world automotive markets. Mitsubishi is as large if not larger than GM. Mitsubishi is VERY VERY big. 0% financing and no payments is a marketing gimmic. The zero percent is only for a limited time loans, 2-3 years. Its not the standard 5 year loan that many people need to afford a vehicle. The no payments may sound good, who would be stupid enough to wait a year before begingin payments. It would just up your monthly payments. Its a 4 year loan with a delayed starting payment date.

regardless if you use it a year and give it back or not, you still owe the money. Its a credit issue either way. You buy a new car now, You could get 6 months before the repo man comes in most cases and selective payments could streach it out to a year. Most people are not going to do this, so its not an issue. Plus, this doesnt affect Mitsubishi Motors since in most cases they are not backing the loan, A local loan company will have purchased the loan.

Chevy, Ford are also doing the same thing with 0% delayed payments. Vehicles are still to expensive. Get the base price of the vehicles down then we can talk 0%.

-- Gary (gws@columbus.rr.com), December 13, 2001.

I have an 88Mercury Tracer and guess what kind of moter it has in it. You guest it Mitsubishi

-- Ruby (mcfays451@aol.com), December 13, 2001.

It's no big loss for Mitsubishi - it's just money, and they can do this - innovative - or they could give a manufacturer's rebate, or drop the price. They've given your discount, and a couple of percent of their margin, to the finance company to subsidise the interest. Mitsubishi make solid vehicles, and they're one of the relatively ethical Japanese ones - they and Toyota. One caveat though - at least here in Australia they don't hold their resale value well. They're solid unexciting vehicles, and you'd better plan on keeping them - second-hand prices are less than stellar. On that basis, my next car may well be a second-hand Mitsubishi.

-- Don Armstrong (from Australia) (darmst@yahoo.com.au), December 13, 2001.

This is just a come on to get people in the door! You (chances are) wont be approved for such a loan. You get socked with interest at the end of this no pay time- they are going to make their money and then some. They- most of the auto manufactures- are ploying this no pay until and 0% this and that to "stimulate" the economy- which is the same thing the gasoline comanies are doing. They arent happy unless they are gowing as opposed to being stable long lasting company, it all comes down to how much bigger the company has gotten in the last 3 months.

-- Kevin in NC (Vantravlrs@aol.com), December 13, 2001.

Boy did I ever make a mistake in the earlier answer, and my face is so red My Mercury does not have a Mitsubishi motor. It's a Mazda. Sorry

-- Ruby (mcfays451@aol.com), December 13, 2001.

Thanks for reminding me, Ruby. Mazda is another ethical Japanese company - but I wouldn't touch Datsun/Nissan with a ten-foot pole.

-- Don Armstrong (from Australia) (darmst@yahoo.com.au), December 13, 2001.

Best Mitsubishi deal I ever made is my 88 Mitsubishi Van. $1700. Tough to find a nice one. Grab it if you can.

-- Dave (dkmcd@msn.com), December 14, 2001.

If you were going to pay cash anyway, you could invest your money, then pay at the end of the 3 years, or simply try to wangle a better discount.

I think that they're betting you WON'T have the money at the end of the 3 years, and the interest will be icing on the cake for them.

-- GT (nospam@nospam.com), December 19, 2001.