Guest

Most Acura dealers in MA are charging MSRP for TLs. Probably because the economy is so hot in this area right now they can get away with this. So I was kind of bummed out about this. But I paid it cause I really wanted the TL. And the dealer is close by. Then I realized that my auto loan rate is probably way better than most people, so I'm not so sad after all.

Anyone else get 6.4% (this was on Oct 10 2000) rate for 36 mo. The dealer quoted me 9.5%. I laughed at him and said I could get 6.4%. Turns out my local little dinky savings bank charges 6.9% and then discounts by .25% for direct deposit of your pay, and another .25% for direct loan payment from your bank account.

So my advice to anyone looking for a car loan is check with your small local bank to find out their rates before car shopping. The dealers use big commercial banks that charge close to prime rate.


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2001 TL wo Nav
Laguna green

hunter001

Paid cash for the car....Loan rates were never an issue...

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2000 Naples Gold 3.2TL/Navi - Factory Stock but with up-graded tires

bdimc2001

Well some of us didn't dish out our life savings on the TL. I got wacked on my loan at 14.4% because Chase Bank said I had light credit? WTF? I own a restaurant and make over $100K. Well, I plan to pay $1,000 a month for a few months then get a new loan from another bank, hopefully close to 6.4%. That 14.4% added 11K to my cost of the car. bring it to $42K total interest and all.

Yeah, I think you got a good deal. Most people are so worried about the car price, but I think the most important thing is the loan percentage. You can really get wacked on this.

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2001 Acura 3.2TL w/ Navi Black ext. Ebony int., Sunroof Visor,
35% Smoke Tint and more to come!

Guest

Two words: Credit Union.

Acura dealer couldn't touch the rate.

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2000 3.2 TL, Paper maps.
Comptech axle-back exhaust.
225/55ZR-16 RE730s on OEM alloys.
205/55QR-16 Alpins on steel wheels w/covers (winter).

Pictures

Oswald Vater

Not necessarily. Actually, the loan through my dealer was better than my credit union could do. Chevy Chase bank was running a special incentive with Acura at the time of my purchase. It might be different now, but make sure you exhaust all of your options.

Guest

question, all of you avove, didn't get that bad of a deal, but what do you think about mu situation. i'm only 17, turning 18 december 21. getting the 2001 tl right after christmas. what do you think my loan rate will be, i have a 94 626, but i paid cash for it. if i have my step-father co-sign for it, i'm sure it will go down, but he will not right now. any ideas on what i should do?

MToker

Ya I got the 2000TL w/ NAV for 28,500 but got it in the ass on the financing loan.

Too much credit.... <sigh>

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2000 Laguana Green / NAVI, 2 x JL12W6s, Pioneer Premier P920R, MB Quarts Coaxial, PPI 2600.2 and 4400.2 , Pioneer 620 6Disc
My Acura

QUIETSTORMMVN_IN

My APR was 7.5 at my credit union(Navy Federal) and Acura offered 7.3, so i went with the dealership.
Romeo as for you alone, i think you may be better off selling your car than trading it in. And since you have not established enough credit, they may charge you a higher rate like 17 to 21%? To establish credit you must take out a small loan and quickly pay it back or buy things that you can easily afford and put it on credit and pay it off. I don't know if Acura has a plan for first time buyers for the TL, check into it. Also they may try and talk you into buying something less expensive. Good luck!

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2000 Fire Pepper Red/ebony TL, non-navi. factory spoiler, std chrome wheels, 35% tint, comptech exhaust, wood trim kit...
Quiets ride

SoundSpeed

Bdimc, you can change your loan source, how is that?

Romeo, get some credit cards and buy stuff you normally buy but use the credit cards. Use them as much as you can and pay them off immediately. Do anything you can to get some credit. I personally am young like you and I am worried about the interest rate I will get. But I am using credit cards for everyday stuff, just bought a computer with credit, and am doing everything with credit I can. Just don't go overboard and make sure everything you use credit for you can pay off right away.

Nate

I'm just gonna... uhm... leave this thread now.

Guest

Credit unions are the only way to go. If you have access to a Tower Federal Credit Union http://www.towerfcu.org (based out of Maryland) they have a promotional rate for this month of 6.25%, new or used. I took advantage of it, and used Navy Federal credit union's car buying service and walked away with a 2001 w/ Navi TL for under $29K.

SoundSpeed

Ok Nate.

Guest

My wife and I got 8.24% for 48 mos. We paid off the balance above $20000, so our payments are around $490 a month. The bank offered me 9%, and our girl at the bank says we're getting the preferred rate because of our combined income level. I agree with Einstein, however, that if you have a credit union available to you, join it. The only reason I haven't is because we don't pay for anything anyway (service fees, checks, etc.), so the credit union would only be of benefit for things like a house and a car. I'll join one before we buy a house, but I didn't see this as a reason to switch all of our accounts.