New Cars: Nissan Says Buy Now, Pay Later

Nissan, struggling to hold up sagging sales, has launched a "Buy Now, Pay Later" program, which according to the Detroit News and BankRate, allows car buyers to make their first payment on a 2006 or 2007 model 130 days after purchase. No word on possible excluded models or available rebate combinations. Shoppers in Maine, Michigan and Pennsylvania do not get the deal.

Why it Matters

This incentive program is straight out of the domestic automaker’s playbook: it’s catchy, sweeping, and, at first glance, amazing. Nissan may be better served by adding more rebate cash on slow-selling cars, but this program will likely help models move off lots at least a bit quicker. It you’re interested, be careful: several current Nissan models, such as the Altima and the Sentra, will soon be redesigned and improved, and some of Nissan’s newer trucks and SUVs offer less than ideal fuel economy compared to the competition. However, buying a new Versa subcompact – or the ever sexy 350Z – with a pay later benefit is very enticing.