0% for 15 billing cycles on purchases, and to… Bank of America® Customized Cash Rewards Credit Card for Students Calculators How we make money
VOATLAS
How to Buy a Used Silverado Without High Interest

How to · Auto

How to Buy a Used Silverado Without High Interest

Buy your truck when the new models arrive and use an 18-month interest-free window to cover the cost.

VoAtlas editorial Updated · 3 min read
Typical cost $26,000 before anything else
Across the 0% window $1,444.44/mo 18 months, no interest

How we got that: $26,000 spread evenly across the 18-month introductory window on the Citi Simplicity® Credit Card. Checked · at the bank Carry a balance past the window and the standard APR applies to what is left.

A used Silverado is a tool that happens to have seats. It handles heavy loads without complaining, but it will cost you at the pump. Expect to spend a few hundred a month just on gas if you are driving it daily. We see the best prices in late summer or early fall when dealers are desperate to clear the lot for the incoming year's models.

Negotiating the price is a separate game from how you pay. Get the price down first. Then, use a specific interest-free window to cover your down payment or the whole truck without the bank taking a cut.

The 0% interest period is a hard deadline, not a gift. If you still have a balance after the 18 months, the standard variable interest rate will apply to the remaining amount and the debt will become much more expensive.

The steps

  1. 01

    Shop the model year transition

    Wait until late summer or early fall to visit the dealership. This is when new inventory arrives and dealers are motivated to move older used stock. You have more leverage when they need the floor space for newer trucks.

  2. 02

    Negotiate the out-the-door price

    Ignore the monthly payment talk from the salesperson. Focus only on the total price including taxes and fees. Once you agree on that number, then you talk about how you are going to pay for it.

  3. 03

    Use the Citi Simplicity® Credit Card

    This card offers 0% for 18 months on purchases and balance transfers from date of account opening. If you put the $26,000 cost on the card, you would pay $1,444.44 per month to clear it before interest starts. Most dealers limit card use to a few thousand dollars, so use it for the largest portion they allow.

  4. 04

    Verify the maintenance history

    Ask for the service records to ensure the oil and transmission fluid were changed on schedule. These trucks are durable, but neglected maintenance on a heavy vehicle leads to expensive repairs later. Check the tire tread depth too, as a new set for a truck is a major expense.

  5. 05

    Get an independent inspection

    Pay a mechanic you trust to look at the frame and the engine before you sign anything. It might cost you a hundred dollars now, but it prevents you from buying a truck with hidden rust or a failing torque converter.

  6. 06

    Check the card terms before you commit

    Every figure we publish for the Citi Simplicity® Credit Card carries the date a person verified it against Citi and a link to where they checked. Intro windows and APRs change without notice, so confirm the current terms before applying.

    See Citi Simplicity® Credit Card terms →

Common questions

Is a used Silverado a reliable truck?

Yes, they are known for being sturdy workhorses. Just keep an eye on the transmission and check the frame for rust if you live in a place where they salt the roads.

When is the cheapest time to buy a truck?

The end of the year or the end of a model cycle is best. Dealers have quotas to hit and need to clear out older inventory to make room for the new trucks.

Can I buy a whole car with a credit card?

Most dealerships cap credit card payments at $3,000 or $5,000 to avoid processing fees. You can usually negotiate a higher limit if you offer to cover the 3% merchant fee yourself.

What happens if I miss a payment on the card?

If you miss a payment, you might lose your 0% introductory rate immediately. The bank will then start charging you the standard high interest rate on your total balance.