First off i like to say hello. I have a 03 accord v6 and love the new TL. I like to know if you guys can help me out. I have a 03 accord paying 260 at 10% intrest on 11grand. I talk to the dealer they said they can get me in a 04 exv6 for 340 at 3.9 intrest on 16grand. I love my 03 but has some wear on it alot of little hood nicks and really want to get the clear bra and xm. Will i make out paying less intrest but a more car payment. Any info would help.


Thanks joe

 

The 2004 Accord is a GREAT car with excellent fit and finish, great interior and exterior styling, good resale, etc etc etc. There is no wonder why it's been on 18 of the last 21 C&D 10 Best lists.

But given you already have a 2003 V6 Accord and there have been no significant changes for 2004...you could always just have your hood reshot and save the money. Wait another year.

You have to ask YOURSELF this question. Regardless of payment and interest combo...

Do you think the exact car you're looking at is worth $340/mo for however many months plus the down payment (since you aren't getting a new Accord EX V6 for $16K) to YOU?

Yes, buy it.
No, don't buy it.

 

I'm just trying to save money on the intrest. 10% is alot. It will be knock down to 3.9. Some people say it will work out cheaper if i get the new car?

 

Can you give more detail? How did you get to $16,000? Was it based on a down payment with your trade? Did they come down from MSRP? You can typically get about $2,000 off MSRP without having to spend all day haggling.

You could also consider refinancing the car you have then get the hood repainted.

 

You could always refinance your current (2003) car and get a better rate.

 

Right now 2003 accord i still have to pay 11 grand and it's my car
2004 accord will be about 5 grand more which will be 16 grand. Hopes that helps. I have been paying for 8 payments so far. I'm getting the new car for 400 under invoice which is about 23,700

 

Refinance the $11,000. As for the 2004...how are you getting the 2004 for $16K. What's sticker, what's your trade? If it's your 2003, then you have WAY more than enough equity to refinance the 2003.

 

With the money i have paid on my 03 thats how i'm getting the 04 for 16,000.

 

How long are you financing the new car?

There are many calculators available on the web that will give you monthly payments.

 

I agree with skeedatl -

You should try and refinance your current note. 10% is high even for a used car. How is your credit??