My thoughts on my new tsx sport wagon
#1
Instructor
Thread Starter
My thoughts on my new tsx sport wagon
so far its been 4 weeks since i have purchased the 2012 tsx sport wagon in white. it had a sticker price of $35,xxx and being a 2012 model, the revised sticker had $31,250 but i purchased it at $25,xxx.
and thats where it ends and all goes sour.
1. the deal took 1 hour since i knew the dealer would be closing in 2 hrs... gave them an offer with my limits and conditions and got an answer back from dealer manager agreeing to all terms... but i was informed that the finance wasnt figured out so i will know in few days who its financed through.
(wasnt worried based on my previous car buying experiences)
2. after all the signing it took 4 hrs of waiting to sit in the finance managers office... why? because they only had 1 girl working. notice i how i mentioned the dealership would close in 2 hrs above. and in the middle of signing she had to go make copies when i declined all the sales offerings and took another 40 min. really? to make copies?
3. at 11pm (went into dealership at 5pm) my wife and i were handed the keys... wait. one key and one valet key !!!! yeah so then when i complained they tell me thats all they have. WTF???? so i asked to speak the to manager and took 10 min to get them to look for the other key... in which they failed.
4. i was given a "We owe" receipt for the lost key and was told to come back in 6 days... which i did. surprise !!! no one knows about any key... go figure. called the sales rep that sold me the car and i was told to come back in 4 days which end up being a saturday. so i asked by when and i was told any time we will have it cut and ready. so i believed.
5. saturday at 3:30 pm pulled up to SA and asked for the key and he was dumbfounded. then i was told i wont be able to have the key since they will close in 1.5hrs and it takes minimum of 2 hrs. to make. WTF !!! (my dealer is about 20 min hwy drive away btw)
so which led to a 10 min bs talk with the sales and was told to come back in 3 days.
fast forward 3 days... back at the dealership and it takes 40 min for the new key. wow... speechless.
2 weeks go by....
started to get clunking noise from the front end of the car when braking and take off... read all about the issue here and just cant wait to deal with the dealership about it. excited (sarcasm)
waiting for a warm day to take it to the dealer for the issue i find my self another surprise !!!
my sunroof leaks... headliner all wet and stained. really...? never had i owned a car that leaked period. this is the 13th car i own and even my 94 civic didnt even leak.
currently im sitting at 4k miles. and not the best 4k miles i have had.
if i were to judge this is not a $35,000 car... i am so glad that i got it at the price i did. because both my 335i, 328i, and Merc c230 were $31,000 CPO and was rock solid and dependable quality up until 60k miles which i then sold.
now lets see what the dealership warranty is like.
and thats where it ends and all goes sour.
1. the deal took 1 hour since i knew the dealer would be closing in 2 hrs... gave them an offer with my limits and conditions and got an answer back from dealer manager agreeing to all terms... but i was informed that the finance wasnt figured out so i will know in few days who its financed through.
(wasnt worried based on my previous car buying experiences)
2. after all the signing it took 4 hrs of waiting to sit in the finance managers office... why? because they only had 1 girl working. notice i how i mentioned the dealership would close in 2 hrs above. and in the middle of signing she had to go make copies when i declined all the sales offerings and took another 40 min. really? to make copies?
3. at 11pm (went into dealership at 5pm) my wife and i were handed the keys... wait. one key and one valet key !!!! yeah so then when i complained they tell me thats all they have. WTF???? so i asked to speak the to manager and took 10 min to get them to look for the other key... in which they failed.
4. i was given a "We owe" receipt for the lost key and was told to come back in 6 days... which i did. surprise !!! no one knows about any key... go figure. called the sales rep that sold me the car and i was told to come back in 4 days which end up being a saturday. so i asked by when and i was told any time we will have it cut and ready. so i believed.
5. saturday at 3:30 pm pulled up to SA and asked for the key and he was dumbfounded. then i was told i wont be able to have the key since they will close in 1.5hrs and it takes minimum of 2 hrs. to make. WTF !!! (my dealer is about 20 min hwy drive away btw)
so which led to a 10 min bs talk with the sales and was told to come back in 3 days.
fast forward 3 days... back at the dealership and it takes 40 min for the new key. wow... speechless.
2 weeks go by....
started to get clunking noise from the front end of the car when braking and take off... read all about the issue here and just cant wait to deal with the dealership about it. excited (sarcasm)
waiting for a warm day to take it to the dealer for the issue i find my self another surprise !!!
my sunroof leaks... headliner all wet and stained. really...? never had i owned a car that leaked period. this is the 13th car i own and even my 94 civic didnt even leak.
currently im sitting at 4k miles. and not the best 4k miles i have had.
if i were to judge this is not a $35,000 car... i am so glad that i got it at the price i did. because both my 335i, 328i, and Merc c230 were $31,000 CPO and was rock solid and dependable quality up until 60k miles which i then sold.
now lets see what the dealership warranty is like.
#2
3G TL/2G MDX Owner
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sorry to hear about all the issues. sounds like the dealer sales dept has problems with inefficiency and incompetency. as far as the car issues...i'd take it to a different dealer if possible if the sales dept is any reflection of what goes on in service.
#4
Instructor
Thread Starter
alright so i called the dealership that i purchased the vehicle from and i was told that i wouldnt have a loan car service if i brought the car in so i need to wait until i have some sort of transportation figured out.
is this true? doesnt seem like it sounds right...
i understand for an alignment or oil change but for a warranty work that may take few days and no loaner service???? really??
is this true? doesnt seem like it sounds right...
i understand for an alignment or oil change but for a warranty work that may take few days and no loaner service???? really??
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#8
Burning Brakes
iTrader: (1)
wow no loaner thats some bull when i lived 2 hours from the closest acura dealer i call about my grill peeling.The service manager asked for pics of my grill and told me he would order the parts. I asked if i could get a loaner while I was there to do some shopping he said no problem. And im not even the original owner of this car. Now would i excpect that service here were i live probably not but i shouldn't have to at a premium car dealer. So i can see his pain some of these dealers need to get there shit together.
#9
3G TL/2G MDX Owner
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OP- that's messed up esp when you bought the car from them.
time to find a new dealer to go to...i get lifetime loaners. my SA was even going to offer a loaner to my other half when we took his accord in for something, but we ended up waiting to go to his honda dealer since they had parts on hand.
time to find a new dealer to go to...i get lifetime loaners. my SA was even going to offer a loaner to my other half when we took his accord in for something, but we ended up waiting to go to his honda dealer since they had parts on hand.
#10
Burning Brakes
Agreed with above. mine just gives you the keys to loaner and you're out the door. My 09 has none of the problems you mentioned, nor have other wagon owners...
Fort Worth is a pretty large area, if FW doesn't have one, I know Dallas has at least one Acura dealership, I would check into another dealership.
Fort Worth is a pretty large area, if FW doesn't have one, I know Dallas has at least one Acura dealership, I would check into another dealership.
#11
Everyday I'm rofling
David McDavid in Plano where I bought mine were extremely helpful. I've gotten a loaner twice for free, both times I had it for 2 days. They gave me a loaner for the weekend and made me a free spare valet key when I locked my keys in the trunk the day I bought it.
I've also been to the Honda dealership on Lemmon(uptown Dallas) to get my tint done and they went out of their way for me there too. They needed to keep my car overnight and instead of leaving it outside with the other cars like usual they left it in the garage to keep it safe.
I've only had good experiences with dealerships in Dallas.
I've also been to the Honda dealership on Lemmon(uptown Dallas) to get my tint done and they went out of their way for me there too. They needed to keep my car overnight and instead of leaving it outside with the other cars like usual they left it in the garage to keep it safe.
I've only had good experiences with dealerships in Dallas.
#13
Instructor
That really stinks. My dealer here in KC was great, but my parents just bought a new ILX and they were pricing them at both Jay Wolfe (where I bought mine) and Hendrick. Well, the Hendrick sales manager got to the point where he flat creeped them out. He texted my dad when they were at Jay Wolfe and said that "he knew he was talking to XXXX and that he wouldn't give them as good of a deal as he could" and stuff. He was like a crazy ex-girlfriend man! Totally turned my parents off and walked out of Jay Wolfe with a new ILX Tech.
Like everyone else has said, find a new dealer, or report these fools.
Jay Wolfe had me in and out in an hour or maybe a bit more. Heck, I even had my 4 year old daughter with me and she had a blast with them. I also was given the free loaner for life on services and stuff, you should ALWAYS get a free loaner, especially with warranty work, in my opinion.
Good luck man.
Like everyone else has said, find a new dealer, or report these fools.
Jay Wolfe had me in and out in an hour or maybe a bit more. Heck, I even had my 4 year old daughter with me and she had a blast with them. I also was given the free loaner for life on services and stuff, you should ALWAYS get a free loaner, especially with warranty work, in my opinion.
Good luck man.
#16
To me, a find your own form of transportation is a slap to the face. I would definitely look into taking your car elsewhere where the level of service is as it should be expected. When i initially went to look for a tsx at my local acura dealerships I had to deal with by far the worst acura dealsership out there, paragon acura. These guys would play games with the pricing and throw in packages after a finalized deal. I spent close to 8 hours just to leave being the angriest person in the world with no car (i even called a friend up to take my old car back to my house while i drive a new tsx home). I decided to take my money elsewhere at the next and final acura dealership. At Rallye Acura i was treated professionally, and my time was valueable to them. I was in and out of the place within an hour of discussing and finalizing the price. Only thing was that I had to pick up the car 2 days later which was no biggie.
tldr; take your car elsewhere, you are entitled a loaner, and above all do not let those guys tell you otherwise!! If they are lazy and incompetent when doing simple things, then they are even more lazy and incompetent when it comes to bigger things.
tldr; take your car elsewhere, you are entitled a loaner, and above all do not let those guys tell you otherwise!! If they are lazy and incompetent when doing simple things, then they are even more lazy and incompetent when it comes to bigger things.
#17
Racer
Something is definitely odd here.
Was the wagon new or Certified Pre-Owned with only a few miles (ex demo, loaner, etc)?
Keys do go missing, but that is a simple fix and once the key is ordered, it can even be cut using the vin #. Then simply needs to be programmed to the car with the other 2, if they have not found the original missing one.
As for the other sunroof leaking, etc. issues this should be taken care of by Acura, and a simple service appointment. If there are leaks and noise issues, that is likely a longer appointment and a car can be provided.
What is the back history on this car?
Was the wagon new or Certified Pre-Owned with only a few miles (ex demo, loaner, etc)?
Keys do go missing, but that is a simple fix and once the key is ordered, it can even be cut using the vin #. Then simply needs to be programmed to the car with the other 2, if they have not found the original missing one.
As for the other sunroof leaking, etc. issues this should be taken care of by Acura, and a simple service appointment. If there are leaks and noise issues, that is likely a longer appointment and a car can be provided.
What is the back history on this car?
#18
Something is definitely odd here.
Was the wagon new or Certified Pre-Owned with only a few miles (ex demo, loaner, etc)?
Keys do go missing, but that is a simple fix and once the key is ordered, it can even be cut using the vin #. Then simply needs to be programmed to the car with the other 2, if they have not found the original missing one.
As for the other sunroof leaking, etc. issues this should be taken care of by Acura, and a simple service appointment. If there are leaks and noise issues, that is likely a longer appointment and a car can be provided.
What is the back history on this car?
Was the wagon new or Certified Pre-Owned with only a few miles (ex demo, loaner, etc)?
Keys do go missing, but that is a simple fix and once the key is ordered, it can even be cut using the vin #. Then simply needs to be programmed to the car with the other 2, if they have not found the original missing one.
As for the other sunroof leaking, etc. issues this should be taken care of by Acura, and a simple service appointment. If there are leaks and noise issues, that is likely a longer appointment and a car can be provided.
What is the back history on this car?
#20
Instructor
Thread Starter
no the dealer isnt going away... they just have few other dealers under their name and i have purchased at least 4 hondas from their other dealer since 2002 so im sure its staying. but as far as their acura dealer goes... its my first time.
well i think getting a good deal is 50% being lucky at the right place right time and 50% buyer's ability to negotiate... ill post a pic of my slip.
btw the car is in the dealership indefinitely as of 2pm today and got a 2012 MDX TECH as a loaner... i just happened to go to another dealer (s acura) im my area and the SA there saw my yellow DRL while pulling up to the service drive and noticed my badged boot and was really cool with everything. he even showed me his CU2 with RDX wheels and H&R drop. i also found out and realized that my business customers for the past 3 yrs are also managers of the dealer so feel comfortable leaving my car there compared to the dealer i bought the car from.
only if i had known... or took the time to come out to this dealership i wouldnt have minded paying the sticker or if not more if needed.
well i think getting a good deal is 50% being lucky at the right place right time and 50% buyer's ability to negotiate... ill post a pic of my slip.
btw the car is in the dealership indefinitely as of 2pm today and got a 2012 MDX TECH as a loaner... i just happened to go to another dealer (s acura) im my area and the SA there saw my yellow DRL while pulling up to the service drive and noticed my badged boot and was really cool with everything. he even showed me his CU2 with RDX wheels and H&R drop. i also found out and realized that my business customers for the past 3 yrs are also managers of the dealer so feel comfortable leaving my car there compared to the dealer i bought the car from.
only if i had known... or took the time to come out to this dealership i wouldnt have minded paying the sticker or if not more if needed.
#22
Instructor
Thread Starter
David McDavid in Plano where I bought mine were extremely helpful. I've gotten a loaner twice for free, both times I had it for 2 days. They gave me a loaner for the weekend and made me a free spare valet key when I locked my keys in the trunk the day I bought it.
I've also been to the Honda dealership on Lemmon(uptown Dallas) to get my tint done and they went out of their way for me there too. They needed to keep my car overnight and instead of leaving it outside with the other cars like usual they left it in the garage to keep it safe.
I've only had good experiences with dealerships in Dallas.
I've also been to the Honda dealership on Lemmon(uptown Dallas) to get my tint done and they went out of their way for me there too. They needed to keep my car overnight and instead of leaving it outside with the other cars like usual they left it in the garage to keep it safe.
I've only had good experiences with dealerships in Dallas.
i didnt purchase one from mac david because... i know this sounds weird but the owners are also my business customers and also church members. its not so weird on my part but it seems like if they dont bend their backs they feel bad for not doing so when you meet them.
i would love to have done business with people i know but it also makes it that much harder sometimes. im guessing that somewhat makes sense...
#23
3G TL/2G MDX Owner
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you'd think if the sunroof was leaking the dealer would know this if the car has been sitting on their lot?
OP-hope things work out for you at the other dealer. seems like they'll take care of you.
#24
Great price, but you didn't put a down payment in? My total payments line has $27,618, but that was only after the $5,000 down that the dealer wanted me to make.
Btw, what do you think of the MDX?
Btw, what do you think of the MDX?
no the dealer isnt going away... they just have few other dealers under their name and i have purchased at least 4 hondas from their other dealer since 2002 so im sure its staying. but as far as their acura dealer goes... its my first time.
well i think getting a good deal is 50% being lucky at the right place right time and 50% buyer's ability to negotiate... ill post a pic of my slip.
btw the car is in the dealership indefinitely as of 2pm today and got a 2012 MDX TECH as a loaner... i just happened to go to another dealer (s acura) im my area and the SA there saw my yellow DRL while pulling up to the service drive and noticed my badged boot and was really cool with everything. he even showed me his CU2 with RDX wheels and H&R drop. i also found out and realized that my business customers for the past 3 yrs are also managers of the dealer so feel comfortable leaving my car there compared to the dealer i bought the car from.
only if i had known... or took the time to come out to this dealership i wouldnt have minded paying the sticker or if not more if needed.
well i think getting a good deal is 50% being lucky at the right place right time and 50% buyer's ability to negotiate... ill post a pic of my slip.
btw the car is in the dealership indefinitely as of 2pm today and got a 2012 MDX TECH as a loaner... i just happened to go to another dealer (s acura) im my area and the SA there saw my yellow DRL while pulling up to the service drive and noticed my badged boot and was really cool with everything. he even showed me his CU2 with RDX wheels and H&R drop. i also found out and realized that my business customers for the past 3 yrs are also managers of the dealer so feel comfortable leaving my car there compared to the dealer i bought the car from.
only if i had known... or took the time to come out to this dealership i wouldnt have minded paying the sticker or if not more if needed.
#25
Instructor
Yeah, it was weird, for sure. The dude chased my dad out the door and said, "we just got a call from Volvo, we'll give you another $1000 for your XC90"! Then, texted him (after the initial creepy text) and says "we'll give you what you want for your car, we'll give you whatever deal you want".
My dad was floored! The initial salesman called my dad the following monday to follow up and my old man tells him that he liked him, but his sales manager is a total creeper and he wouldn't suggest anyone buy a car there.
The weird thing is, both me and my parents have bought Volvos from Hendrick Volvo and they couldn't be nicer, both the sales and service. It was strange.
Sorry to hi-jack.
OP, good luck man, seems like if you keep having troubles like the leaking roof and other nagging items, you might tell them you are going down the road to file a lemon law suit. Seems like your issues are not common with the car. Good luck to you, keep us posted.
My dad was floored! The initial salesman called my dad the following monday to follow up and my old man tells him that he liked him, but his sales manager is a total creeper and he wouldn't suggest anyone buy a car there.
The weird thing is, both me and my parents have bought Volvos from Hendrick Volvo and they couldn't be nicer, both the sales and service. It was strange.
Sorry to hi-jack.
OP, good luck man, seems like if you keep having troubles like the leaking roof and other nagging items, you might tell them you are going down the road to file a lemon law suit. Seems like your issues are not common with the car. Good luck to you, keep us posted.
#26
Cruisin'
My first post here. I bought a brand new 2012 TSX Sportwagon with Tech in white at a Northern Virginia dealership a couple of weeks ago. The price we got was $28,000. The car was manufactured in May 2012 and had 70 miles on the odometer. Off-the-door price was a tad over $30,000 (BS destination fee, BS documentations fee, accessories and taxes). The dealer required us to use Acura financing at 1.99% (Pen Fed rate was 1.74%, in the end the difference was about $100 in interests so we let it go). I thought that I did good with the price but the OP did a lot better at $25,000. The only issue we had with the car was the rust build-up on the rotors (presumably because the car had been sitting on the lot for a long time) in which they promptly fixed by surfacing them. We would have preferred brand new rotors but I guessed that it would have been a long shot.
#27
While the dealer is making a good percentage of the 4.99% interest up front (they may get 2% of that) that price seems unusually low (the 28k seems more inline) considering that I was just offered $27k on my 12 tech wagon with 26k miles on a trade.
There is something odd with that car. Did the OP run a Carfax on it?
There is something odd with that car. Did the OP run a Carfax on it?
#28
Burning Brakes
iTrader: (1)
My first post here. I bought a brand new 2012 TSX Sportwagon with Tech in white at a Northern Virginia dealership a couple of weeks ago. The price we got was $28,000. The car was manufactured in May 2012 and had 70 miles on the odometer. Off-the-door price was a tad over $30,000 (BS destination fee, BS documentations fee, accessories and taxes). The dealer required us to use Acura financing at 1.99% (Pen Fed rate was 1.74%, in the end the difference was about $100 in interests so we let it go). I thought that I did good with the price but the OP did a lot better at $25,000. The only issue we had with the car was the rust build-up on the rotors (presumably because the car had been sitting on the lot for a long time) in which they promptly fixed by surfacing them. We would have preferred brand new rotors but I guessed that it would have been a long shot.
#29
Instructor
Thread Starter
alright so the MDX with SH AWD isnt bad but i wouldnt buy one at 49k... with that price i have so many other choices that i probably would factor out the MDX.
0 -60 mph is a slow climb... but ironically 70 + mph is quick response and brisk acceleration. is it worth paying twice my TSX ??? no. especially at 15.9 MPG avg.
as far as my price goes... i didnt make any down payment (was about to but ended up holding out on that card). the price shown on the bill is the price OTD. so i got the car all in all for about 25,xxx since TTL was about 900 which comes out to 26,018.
Down side to not knowing your financing is that the dealer called up 13 lenders and dropped my credit score by 50 pts due to too many inquiries with in a month. so there is the bitch pain in the ass... its a mistake on my part.
went to my CU and got 3.6 which is about $16 per month less but with my score drop from the awesome dealership... i didnt want to hassle with them so refused before running my credit again because i already knew my out come.
btw how in the world did you get a 1.99??? thought that was only on the 2013 MY available on the dealer lots through Acura financing.... anyways thats awesome that you pulled it off.
0 -60 mph is a slow climb... but ironically 70 + mph is quick response and brisk acceleration. is it worth paying twice my TSX ??? no. especially at 15.9 MPG avg.
as far as my price goes... i didnt make any down payment (was about to but ended up holding out on that card). the price shown on the bill is the price OTD. so i got the car all in all for about 25,xxx since TTL was about 900 which comes out to 26,018.
Down side to not knowing your financing is that the dealer called up 13 lenders and dropped my credit score by 50 pts due to too many inquiries with in a month. so there is the bitch pain in the ass... its a mistake on my part.
went to my CU and got 3.6 which is about $16 per month less but with my score drop from the awesome dealership... i didnt want to hassle with them so refused before running my credit again because i already knew my out come.
btw how in the world did you get a 1.99??? thought that was only on the 2013 MY available on the dealer lots through Acura financing.... anyways thats awesome that you pulled it off.
#31
Instructor
Thread Starter
UPDATE to my Leakage...
the dealership decided to change out my headliner with a new one. also stated me that the leak is coming from a clogged drainage / pipe and will be replaced or fixed. they will also check the sealant on the glass and on the roof and replace accordingly.
all this will be done on fri... or least shoot for it.
i have also currently at the same time checked out about selling the vehicle to a dealer and picking up something else. so far i was given a rough estimate offer of 29 - 30k as a trade in... which would leave me extra cash in my pocket. but i also only have at this point 4k miles on the car.
so we shall see what happens.
the dealership decided to change out my headliner with a new one. also stated me that the leak is coming from a clogged drainage / pipe and will be replaced or fixed. they will also check the sealant on the glass and on the roof and replace accordingly.
all this will be done on fri... or least shoot for it.
i have also currently at the same time checked out about selling the vehicle to a dealer and picking up something else. so far i was given a rough estimate offer of 29 - 30k as a trade in... which would leave me extra cash in my pocket. but i also only have at this point 4k miles on the car.
so we shall see what happens.
#32
Cruisin'
Maybe it was a regional thing. I could also get 0.9% for 36 months but decided to do 1.99% for 60 months. I also put $8,000 down.
#33
Instructor
Thread Starter
good to see most people are having a great outcome when it comes to getting a good deal on a tsx...
i guess putting a down payment allows you to get a better APR but i always thought that making a down payment isnt for the best since you are taking your liquid assets and placing into a hard asset that only depreciated over time... especially on something that perhaps depreciates up to 50% with in the first yr alone.
plus for me and perhaps other who dont hang on to the cars long enough ( 2- 3yrs ownership ) to see a great benefit when it comes to making a down payment specially a $8,000 down payment on a $30 - $35,000... thats is about 25% which in turn basically guaranteed the interest the lender would of made on the loan over 60 -72 months. so all in all they should of given a 0% but i guess 1.9% is close enough.
as far as my tsx goes... the roof liner is coming off... the sun roof is coming off... drainage is coming off... drain pan is coming off... weather seals are coming off today.
perhaps it will be next week until i see my car again.
i guess putting a down payment allows you to get a better APR but i always thought that making a down payment isnt for the best since you are taking your liquid assets and placing into a hard asset that only depreciated over time... especially on something that perhaps depreciates up to 50% with in the first yr alone.
plus for me and perhaps other who dont hang on to the cars long enough ( 2- 3yrs ownership ) to see a great benefit when it comes to making a down payment specially a $8,000 down payment on a $30 - $35,000... thats is about 25% which in turn basically guaranteed the interest the lender would of made on the loan over 60 -72 months. so all in all they should of given a 0% but i guess 1.9% is close enough.
as far as my tsx goes... the roof liner is coming off... the sun roof is coming off... drainage is coming off... drain pan is coming off... weather seals are coming off today.
perhaps it will be next week until i see my car again.
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#35
Instructor
Thread Starter
either way im hoping to see how it turns out. i would really be bummed if i get everything replaced and to find dirty hand prints and such at another part of the interior or something. knock on wood.
#36
good to see most people are having a great outcome when it comes to getting a good deal on a tsx...
i guess putting a down payment allows you to get a better APR but i always thought that making a down payment isnt for the best since you are taking your liquid assets and placing into a hard asset that only depreciated over time... especially on something that perhaps depreciates up to 50% with in the first yr alone.
plus for me and perhaps other who dont hang on to the cars long enough ( 2- 3yrs ownership ) to see a great benefit when it comes to making a down payment specially a $8,000 down payment on a $30 - $35,000... thats is about 25% which in turn basically guaranteed the interest the lender would of made on the loan over 60 -72 months. so all in all they should of given a 0% but i guess 1.9% is close enough.
as far as my tsx goes... the roof liner is coming off... the sun roof is coming off... drainage is coming off... drain pan is coming off... weather seals are coming off today.
perhaps it will be next week until i see my car again.
i guess putting a down payment allows you to get a better APR but i always thought that making a down payment isnt for the best since you are taking your liquid assets and placing into a hard asset that only depreciated over time... especially on something that perhaps depreciates up to 50% with in the first yr alone.
plus for me and perhaps other who dont hang on to the cars long enough ( 2- 3yrs ownership ) to see a great benefit when it comes to making a down payment specially a $8,000 down payment on a $30 - $35,000... thats is about 25% which in turn basically guaranteed the interest the lender would of made on the loan over 60 -72 months. so all in all they should of given a 0% but i guess 1.9% is close enough.
as far as my tsx goes... the roof liner is coming off... the sun roof is coming off... drainage is coming off... drain pan is coming off... weather seals are coming off today.
perhaps it will be next week until i see my car again.
If you are upside down because of a trade, then you may need to put down some money to get close to MSRP - which is often the limit for lenders - but that won't affect the interest rate either.
Further, the amount of downpayment has nothing to do with how long you intend to keep the car - but - part of your downpayment may be lost if you total the car or it is stolen because you're generally upside down for the first few years on a 5 year loan.
GAP will take care of the difference if you are upside down but since a large downpayment may keep you from being upside down then your downpayment acts as the GAP and you get screwed.
#37
Cruisin'
i guess putting a down payment allows you to get a better APR but i always thought that making a down payment isnt for the best since you are taking your liquid assets and placing into a hard asset that only depreciated over time... especially on something that perhaps depreciates up to 50% with in the first yr alone.
plus for me and perhaps other who dont hang on to the cars long enough ( 2- 3yrs ownership ) to see a great benefit when it comes to making a down payment specially a $8,000 down payment on a $30 - $35,000... thats is about 25% which in turn basically guaranteed the interest the lender would of made on the loan over 60 -72 months. so all in all they should of given a 0% but i guess 1.9% is close enough.
plus for me and perhaps other who dont hang on to the cars long enough ( 2- 3yrs ownership ) to see a great benefit when it comes to making a down payment specially a $8,000 down payment on a $30 - $35,000... thats is about 25% which in turn basically guaranteed the interest the lender would of made on the loan over 60 -72 months. so all in all they should of given a 0% but i guess 1.9% is close enough.
#38
Instructor
Thread Starter
The downpayment has nothing to do with your interest rate. Either you qualify or you don't.
If you are upside down because of a trade, then you may need to put down some money to get close to MSRP - which is often the limit for lenders - but that won't affect the interest rate either.
Further, the amount of downpayment has nothing to do with how long you intend to keep the car - but - part of your downpayment may be lost if you total the car or it is stolen because you're generally upside down for the first few years on a 5 year loan.
GAP will take care of the difference if you are upside down but since a large downpayment may keep you from being upside down then your downpayment acts as the GAP and you get screwed.
If you are upside down because of a trade, then you may need to put down some money to get close to MSRP - which is often the limit for lenders - but that won't affect the interest rate either.
Further, the amount of downpayment has nothing to do with how long you intend to keep the car - but - part of your downpayment may be lost if you total the car or it is stolen because you're generally upside down for the first few years on a 5 year loan.
GAP will take care of the difference if you are upside down but since a large downpayment may keep you from being upside down then your downpayment acts as the GAP and you get screwed.
its called being pre qualified... which mean you are pretty much guaranteed for x.xx% as the highest percentage on interest based on your credit score at the approved amount being borrowed. once you show the lender much better confidence by showing more eagerness and your "responsibility" along with capability by making a lump sum of down payment you do get a lower rate... especially at a dealership. i honestly dont know how much lower you can get... im sure its all up to the individual at hand, but you do get lower than what you may pre qualify for.
and since there is no negative equity being rolled over, the need for GAP is slim to none. i was merely speaking in terms of trading the car or selling the vehicle with in 2 to 3 years... not getting it stolen or wrecked/total it out where you would need a GAP since the insurance will only pay the value.
for instance in my case...
i paid $26,xxx for a $31,xxx and after 72 months at 4.9% i will be paying $30,xxx in total ($4,000 of it being the interest).
now lets say, realistically, the depreciation is 30% the first year and decrease by 10% each year there after.
so after one year, my total investment with interest is still $30,xxx but my value on the investment with its depreciation is about $22,xxx.
the difference of the two is about $8,000.
so in the lenders mind...
if you made an $8,000 down payment the lender is basically getting all the interest ($4,000 for 72 months) up front in lump sum from the down payment instead of collecting it over the 72 months... or better yet the first 36 months because you really dont start hitting and knocking your principles down until then realistically speaking.
then the bank still has the remaining $4,000 from the down payment of $8,000 therefore making your principle $22,xxx rather than $26,xxx with a better interest rate at 1.9%.
see how the new principle of $22,xxx is about same as the value with its depreciation after one yr ? which means the lender basically has slim to none risk in lending the money... therefore in this case, it should be 0% or 0.9% in interest or an interest with a with a zero in the front.
the biggest cost in ownership is the depreciation no matter who owns the vehicle even lenders included... and in this case, well at least to me, the down payment covered it all... and then some.
and this may not apply to everyone, its just the way i see it and calculate it in my head every time im buying a car... and its my habit thinking process since my line of work for living is moving (selling) inventory while your inventory is also your "collateral" or "assets in value" for replenishing the inventory being sold. the cash in hand is always more the better since its your liquid asset... because in short, if managed right, your initial cash invested in the inventory is in a cycle.
sorry for the long post.
#39
we are not talking about negative equity on a trade... since there was no trade mentioned.
its called being pre qualified... which mean you are pretty much guaranteed for x.xx% as the highest percentage on interest based on your credit score at the approved amount being borrowed. once you show the lender much better confidence by showing more eagerness and your "responsibility" along with capability by making a lump sum of down payment you do get a lower rate... especially at a dealership. i honestly dont know how much lower you can get... im sure its all up to the individual at hand, but you do get lower than what you may pre qualify for.
and since there is no negative equity being rolled over, the need for GAP is slim to none. i was merely speaking in terms of trading the car or selling the vehicle with in 2 to 3 years... not getting it stolen or wrecked/total it out where you would need a GAP since the insurance will only pay the value.
for instance in my case...
i paid $26,xxx for a $31,xxx and after 72 months at 4.9% i will be paying $30,xxx in total ($4,000 of it being the interest).
now lets say, realistically, the depreciation is 30% the first year and decrease by 10% each year there after.
so after one year, my total investment with interest is still $30,xxx but my value on the investment with its depreciation is about $22,xxx.
the difference of the two is about $8,000.
so in the lenders mind...
if you made an $8,000 down payment the lender is basically getting all the interest ($4,000 for 72 months) up front in lump sum from the down payment instead of collecting it over the 72 months... or better yet the first 36 months because you really dont start hitting and knocking your principles down until then realistically speaking.
then the bank still has the remaining $4,000 from the down payment of $8,000 therefore making your principle $22,xxx rather than $26,xxx with a better interest rate at 1.9%.
see how the new principle of $22,xxx is about same as the value with its depreciation after one yr ? which means the lender basically has slim to none risk in lending the money... therefore in this case, it should be 0% or 0.9% in interest or an interest with a with a zero in the front.
the biggest cost in ownership is the depreciation no matter who owns the vehicle even lenders included... and in this case, well at least to me, the down payment covered it all... and then some.
and this may not apply to everyone, its just the way i see it and calculate it in my head every time im buying a car... and its my habit thinking process since my line of work for living is moving (selling) inventory while your inventory is also your "collateral" or "assets in value" for replenishing the inventory being sold. the cash in hand is always more the better since its your liquid asset... because in short, if managed right, your initial cash invested in the inventory is in a cycle.
sorry for the long post.
its called being pre qualified... which mean you are pretty much guaranteed for x.xx% as the highest percentage on interest based on your credit score at the approved amount being borrowed. once you show the lender much better confidence by showing more eagerness and your "responsibility" along with capability by making a lump sum of down payment you do get a lower rate... especially at a dealership. i honestly dont know how much lower you can get... im sure its all up to the individual at hand, but you do get lower than what you may pre qualify for.
and since there is no negative equity being rolled over, the need for GAP is slim to none. i was merely speaking in terms of trading the car or selling the vehicle with in 2 to 3 years... not getting it stolen or wrecked/total it out where you would need a GAP since the insurance will only pay the value.
for instance in my case...
i paid $26,xxx for a $31,xxx and after 72 months at 4.9% i will be paying $30,xxx in total ($4,000 of it being the interest).
now lets say, realistically, the depreciation is 30% the first year and decrease by 10% each year there after.
so after one year, my total investment with interest is still $30,xxx but my value on the investment with its depreciation is about $22,xxx.
the difference of the two is about $8,000.
so in the lenders mind...
if you made an $8,000 down payment the lender is basically getting all the interest ($4,000 for 72 months) up front in lump sum from the down payment instead of collecting it over the 72 months... or better yet the first 36 months because you really dont start hitting and knocking your principles down until then realistically speaking.
then the bank still has the remaining $4,000 from the down payment of $8,000 therefore making your principle $22,xxx rather than $26,xxx with a better interest rate at 1.9%.
see how the new principle of $22,xxx is about same as the value with its depreciation after one yr ? which means the lender basically has slim to none risk in lending the money... therefore in this case, it should be 0% or 0.9% in interest or an interest with a with a zero in the front.
the biggest cost in ownership is the depreciation no matter who owns the vehicle even lenders included... and in this case, well at least to me, the down payment covered it all... and then some.
and this may not apply to everyone, its just the way i see it and calculate it in my head every time im buying a car... and its my habit thinking process since my line of work for living is moving (selling) inventory while your inventory is also your "collateral" or "assets in value" for replenishing the inventory being sold. the cash in hand is always more the better since its your liquid asset... because in short, if managed right, your initial cash invested in the inventory is in a cycle.
sorry for the long post.
Your credit history determines if you qualify for an advertised interest rate. Acura currently has .9/36, 1.9/60 offers for customers over a 740 credit score. If your credit score is higher than 740 then you qualify and you can put down $0 or 50% of the value of the car and you'll get that rate.
Prequalification is really only necessary to keep the dealer honest and to get a better rate (from a credit union for example) if you have less than stellar credit. Your bank or credit union might give you a better rate because you have a relationship with them.
GAP is insurance for the difference between what you owe and the value of the car. Let's look at an example.
You buy a new car for $26k
A month later you owe $25.5k
You total the car. The insurance values it at $22k
GAP pays the difference between $22k and $25.5k
Let's look at the same scenarion with a $5k downpayment
Cost $26k
Financed $21k
You paid $5k down
You total the car and the insurance values it at $22k
Insurance pays $22k - finance company gets $21k and you get $1k
You are out $4k
Accordingly, if have a low interest rate then you may want to consider no downpayment.
In addition, the lender gets nothing from your downpayment - they are only financing less.
You need to understand how financing works if you don't want to get screwed.
#40
Instructor
Thread Starter
well i do not mean to sit here and argue over something that i do not need to lose my hair over... subject of financing is like trying to argue about "is the glass half empty or half full."
everyone has different ways of viewing a deal or what it takes to make it a deal for them... its everyone's fair game or else lenders wont be making a living. you're right perhaps i do not know anything about financing and for all i know you could be a guru of financings and im just approaching it the wrong way.
but what i do know is what ever wrongs i may have done... i havent come out sour on any deals thus far... or else it wouldnt have been a deal for me and i probably wouldnt be approaching it the same way each time.
and from the looks of it, you got this thing down as well.
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on another note...
headliner including the pillars, glass, sealant, drain pipe, and drain pan all in and will be swapped monday and picked up tuesday. something about the sealant needs to dry over few days to bond with the glass and re-lubing the track hardware that held it over the weekend according to my SA.
if anyone else is having this issue it took about 7 days up to this point and will be completed in 9 total days at the dealership.
everyone has different ways of viewing a deal or what it takes to make it a deal for them... its everyone's fair game or else lenders wont be making a living. you're right perhaps i do not know anything about financing and for all i know you could be a guru of financings and im just approaching it the wrong way.
but what i do know is what ever wrongs i may have done... i havent come out sour on any deals thus far... or else it wouldnt have been a deal for me and i probably wouldnt be approaching it the same way each time.
and from the looks of it, you got this thing down as well.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
on another note...
headliner including the pillars, glass, sealant, drain pipe, and drain pan all in and will be swapped monday and picked up tuesday. something about the sealant needs to dry over few days to bond with the glass and re-lubing the track hardware that held it over the weekend according to my SA.
if anyone else is having this issue it took about 7 days up to this point and will be completed in 9 total days at the dealership.
Last edited by krnboy817; 05-05-2013 at 02:51 AM.