MrGQDieselNY

Everyone seems to post what price they "got the car for" and that is great and all but lets see what type of payments people are paying. I think it would help people get an idea if they are getting a good price or should be negotiating lower. For instance my local NY Acura dealer quoted me the following:


2004 black/black non navi automatic TL
59 month balloon
$445.89 a month
$1,500 out the door (which inlcudes 1st month payment and bank fee I think)
18,000 miles a year.
59 month balloon of $12,614

$1,700 for full body kit including rear deck lid spoiler.


I dont really want a balloon payment plan but want a lease,because I want to turn it in at 48 months and I will get screwed on a balloon since the car is almost 1 yr old already and is depreciating, but its like $25-$30 more a month for a lease. Bank fee has gone up $500 as well on leases. So what I have so far from a NJ Acura dealer on a lease is:

$454.79/month (would be $464.89 if they paid off 2 months of my current lease instead of 1 month at $330/month)

$1,800 out the door.
18,000 miles
pay off my lease of $330

$1,600 for full body kit including rear deck lid spoiler.

I think for 18,000 miles, 48 months, $454/month with $1,800 out of pocket seems good? I could be wrong.. any feedback?

ramilford

My monthly payment is zero. I don't like paying interest so I paid cash. However, I pretend I have a monthly payment and pay it to my own savings account each month so that I have the cash in three years to buy the next new car. (And they pay me interest.)

ludachrisvt

iTrader: (2)

well my lease was only 482 for 42 months .... I have 6MT/NAV with trunk tray, splash guards and wheel locks. got it for 32,400. I hope that helps you guage ur decision ... Maybe not?

ender

I hope you LOVE the TL because you will be stuck with it for 5 years. Thats a really long time to do residual financing and on top of that you're putting money down. Smells like a bad scenario. You should never put money down on a lease or balloon YOU'LL never see it again. Stuck with the car for 5 years, you'll be out of factory warranty really quick with the miles you specified all repairs after warranty you're paying for and you wont even own the car. Furthermore if you want out of the car sooner you're going to have this humongous payoff. I'm not saying leases or balloons are bad they are designed for certain people. Dont jump into this. I would go with a term no longer than 48 months.

EMF213

$417/mo...Financed $22k. I have never leased a car.

RhodeRunner

I always finance versus leasing because I like to have the flexibility to sell the car whenever I want. My monthly payment is $513. Financed $28K @ 3.79%. To each his own...

MrGQDieselNY

Right now $454/month ona 48 month lease is where I am at.


I dont want to own the car, and I understand about not putting too much down upfront, but the $1800 (which is that high because of the new $500 increase in bank fee) inlcudes 1st month payment, so its really only $1,346 ..........($1,800 minus 1st month payment)

Ok my local guy JUST called me back, now hes back to balloon again, $450/month, 47 month, 18,000 miles, $1700 down (out the door) which includes 1st month payment, (so subtract 1st payment comes to really only $1,250 down). $1,600 for full body kit, paying off 1 month of my lease of $330. So by reducing 12 payments from 59 to 47 months it is only costing me $205 more than our 1st deal of 59month balloon $445/month, $1,500 down. This good?

He swears the balloon payment is just like a lease but just protects the bank or dealer from getting sued or some shit, I can give the car back at 47 months just like a lease and thats that, the big balloon payment at the end is if I want to own the car.


I appreciate the help and any help you guys can give me would be great, Im like hours away from pretty much doing this deal.

tekageek

Picking my car up on Friday after 3:00 p.m. Can't wait!! 04 TL, NAV
I also took the 7 year / 100,000 mile warranty
Price before tax: $30,700
Out the door: $33,something (after tax, title, license)
Put down: $$,$$$
Interest rate: 4.3%
Monthly payment: $280

Also traded in my car for the Nav

ender

go for it better 47months than 59months

MrGQDieselNY

$30,700 WITH NAV? Someone check my records, but that may be the lowest price I have seen with NAV, holy shit.

shawnsplace

38,500 3.78 for 78 months =548. 3k upside down in previous car. oh well

F900

I'm curious to know where you got it for $30,700 with Navi Was it Rickcase ?

PG2G

Maybe he got taken on his trade in?

cparris

$396/month @ 5.24% for 60 months. Financed ~$20,800.

This is the first thing on my credit record, so I actually had to fight for the rate I got.

tekageek

Yea i got mine at Rick Case. Sales guy was new but was nice. Nice people there. Forgot to add in mudflaps when I haggled with them. Barely haggled actually. I posted under a different thread on how I negotiated with them. I was lucky, i went in an hour before they closed and apparently they had already sold like 25 of them that day and let me go with what I wanted.
My ole camry v6 had 181,000 miles on it, it was a 97, looked it up on kelly blue book and it was worth $2000, just happened to be the cost of the navi, i think i should have gotten more for it but i'm happy. Kept the service up to date and it runs like a champ.
I asked for the mudflaps but he wouldn't budge. That's fine, he said he'll give them to me for $86 and I'll just install them myself. Oh yea, this is also the first thing on my credit report.

F900

Yes the people i have dealt with at Rickcase have all been nice, especially Randy, he was in Finance now he's one of the Managers. I have a bought my CLS there, and had a TL/Navi for about 10days and a 1000miles driven, really liked it alot, especially the Navi with XM intergrated. Got approved and seriously thought about getting one.

As for playing DVDs, i believe you have to get an adapter for it.

$280 is a nice payment to have for 60months

Congrats and enjoy your new TL.

TBone2004

$400/month 36 months

jjsC5

I hate to come across this way, but I'm going to anyway.

People should not be "buying" a monthly payment, yet that's what most people do. It is a very short sided way to justify what car you buy. And the dealers love those kind of customers because they can make more money buy putting you into the payment you want instead of the car and overall cost of ownership.

Also, comparing payments is very difficult to do. There are an awful lot of factors that effect what the payment is. I know a guy who has a very nice car, and trades a lot. He brags that his payment actually went down, and that they gave him what he paid for his last car as a trade. But I also know he has a 7 year loan and financed more than the sell price of the car because he was upside down in his last car.

PoochaKannInc

I agree. In your example the person has a 7 year loan?? I can't imagine ever financing a car beyond 48 months (60 months is my absolute limit). It should be a sure sign that you "might" be over-extending yourself. My opinion only folks, no insults intended.

Brokedoc

There are many reasons to have a longer loan term.

I got 3.69% and had a choice of any term from 24 to 60 mos. Being that the rate was so low and there was no prepayment penalty, it makes sense for me to choose the longest term they would give me. It gives me flexibility in the event times get lean or allows me to pay off the loan early if I hit the lotto.

Good financial management dictates that all higher interest rate debts get paid first. In my case, my student loans are at 8.5% Some may have credit card debt at >15% which should always be paid off as quickly as possible (aside from the high rate, it negatively affects your credit)

If I have extra cash laying around, I can make payments to whatever has the highest rate. If all of my other debts are paid off, I can pay off my car loan early and not pay interest on the rest of the term.

PoochaKannInc

I understand. It's just that I don't like running the risk of being "upside down" on my car loan. Thanks for the quick reply.

jdb8805

If you put at least 20% down (either cash or trade), even on a 60 month loan, you shouldn't be upside down.

You lose 10% of that when you drive it off the lot. You will lose the other 10% over the next two years because of the interest on that side of the loan. The next 3 years you will start to gain some equity back.

My rule is not to finance anything unless I can put 20% down upfront, or its 0% interest for the term I plan on paying.

I also agree that its too easy to get messed around if you deal with monthly payments -- too much room for the dealer to screw you. There's a reason why they came up with these creative financing schemes and it WASN'T for the consumer.

You should deal with price and arrange financing at a seperate institution -- Preferably a Credit Union.

tonyg24

my experience,
picked up car in february
2004 tl navi anthracite
468 a month for 49 months
1500 out the door
12k miles a year
baloon

no kits or little extras, one free oil change...lol

MrGQDieselNY

Navi or non-navi? how much out of pocket to get that $400/month price and how many miles? 12,000?

TBone2004

Non-Navi

Brand-new

Don't know exactly how much off hand - half maybe?

Xpditor

He said he traded in his car for the Nav. Sounds like the $30,700 didn't include the Nav.

Mindcrime

I'm paying $297 a month for 48 months.

MrGQDieselNY

what type of down payment, miles per yr, etc etc

thanks