ninjamyst

With the low financing rate (2.9% for 36 months), is this the best time to get a TSX? Do you guys think it will be easier to negotiate a good price if I wait till summer or fall? I am most definitely getting a TSX but not in a big hurry. If there won't be a huge difference in price between now and 6 months later, I may as well get it now.... And reading how alot of members are getting their TSX close to invoice, my best bet is take advantage of the low financing rate right? Does ayone know the minimum credit score needed to qualify for finance rates? My credit score is 725 currently from Equifax.

LuvMyTSX

I think your credit is probably good enough. Might as well get it now while the financing is lower. Take the plunge!

Reach

Agreed. The price you get is going to be dependent on the dealer's willingness to sell and your negotiation tactic / ability. The cars won't be depreciating until the 07s, and most likely not by much even then. I'd say go for it with this excellent finance rate. I sure wish I'd gotten mine at 2.9%, and 725 will definitly get you there. I wish mine was that good

jpt

I just went through this so let me give you some details on the financing offer.

To get the promotional financing you need a 710 or better credit score.

The 2.9% rate only applies for 24-36 month loans. For 37-48 months it is 3.9% and for 49-60 months it is 4.9%.

The best time to buy a TSX is always right now, because then you'll have it!

ninjamyst

Sorry for my noobness but first time getting a car.
1. Is it better to finance the car rather than pay if off, especially at the low 2.9% rate? I could pay it all off (saved $20k in a year ) or should I just downpay $10k, finance the $21k or so? Since my savings acct is at 4.5% APY, am I better off leaving my money there (4.5 > 2.9...)??

2. Does the paint chip easily? I may have to park my brand spanking new car in an alley with lots of rocks/sand/pebbles. I am very very very scared the car will get lots of dings and chips or worst...some jerk keying my car. I won't have a garage till June. I will probably get the clearbra but it's only for the front bumper...

jpt

If you have enough cash to buy it now, you're almost certainly better served by investing that money and getting the 2.9% loan.

Get a 3M clearbra. Most of the flying rocks and pebbles will be hitting you from the front. There is no defense against some asshat keying you, except a shotgun.

"I wish I coulda caught him doing it. It'd have been worth him doing it, just so I could catch him doing it."

calgary2800

You'll need the clearbra, My Accord's paint quality is not the best out there.

yadfgp

This really sucks. I just got my new 06 a couple of weeks ago. My credit score was around 730, and the APR I got was 7.99!!!! For a 72 month loan that is...

jpt

Presumably you went for 72 months because you needed a very low monthly payment. For what it's worth, the payment even with a much lower interest rate (just over 2%) would be higher on a 60 month loan (the longest term the promotional offer applies for).

You could probably try to refinance the loan -- ask your dealer's F&I guy, though AHFC doesn't have a huge incentive to give you a below-market loan now that they've already got your purchase -- or go to your bank and ask.

Alin10123

It wont really make a huge difference for #1.
True there's like a 1.4% difference in there. But keep in mind, all of the interest that you earn from an interest bearing account is subject to taxes. Probably more taxes than your regular paycheck gets. So... with that in mind... just pay it off and enjoy a car payment free. Plus then you'll be able to save up quicker for mod money.

Now on the other hand... if you own a business... i believe you can deduct the interest or something like that. But... assuming you dont... so... just buy it outright.

#2. Yes the paint chips quite easily since it's a water based paint. if you live in a place that puts down gravel over the winter time it would be wise to get the clearbra package. Meaning not only the hood, but the bumper, the mirrors, and all of that stuff.

foolioness

Depending on the dealer that you go to.

If you're a first time car buyer, some dealer might use that as an excuse to jack up the interest. Especially if you get a good price on the car.....
Well, that's what happened to me and few of my friends when we bought our first cars at around your age.

Also for Acura min score for good credit is 720.

If they offer you more than 5.59% for a 60 months, might as well go to capitalone.com to get your loan.

My

Stango

Since they are offering reduced APR now, does that mean a cash deal should be a lower price?

I thought the dealer (or Acura) actually bought down the rate so it would seem that on a cash deal they could reduce price. Anyone have any experience with this?

jpt

There is no cash-rebate option offered instead of the promotional loan rate for this particular offer (or I would have taken it).

Beoshingus

Life is too short not to be driving a TSX now. If you wait 3 months, that's three more months of your life gone without driving a TSX.