I'm finding lots of information regarding purchase quotes but haven't seen anyone mention the purchase finance rates they are getting. Is everyone paying cash? Maybe a need a better job, but I can't seem to come up with 35 large cash and so will have to finance. Is Acura providng decent rates? Is it better to go external?

 

I don't know how often this comes around, but at the end of Feb. Acura was offering a 2.9% rate on ANY Acura. Four days only. Snatched that up. It wasn't advertised as far as I know. You may just need to check with them from time to time.

Oh yeah, that was on any length loan.

 

Funny thing. Went to e-Loan and got approved at 3.89%. I also went to Wachovia, which was like 7.00 or something ridiculous. I got approved there as a back up loan. Here's why... I had some dealers tell me they won't accept e-Loan because they don't get paid for 90 days or something lame like that. But according to e-Loan, the dealer I bought the care from would accept it. Sure enough, I sit down with the finance guy and he says "no way" we take e-Loan. I asked the sales wench before negotiating if they took it and she said yes. I told the finance guy I had backup financing anyway. he asked what the rate was and I said 3.89, so he said he'd match that and I went with them. I didn't care who got my money, as long as I got the same rate. Funny thing was that he didn't even verify the 3.89. I should have said 2.99 or something else.

I think if you have your own financing going in, you have more leverage and can negotiate a better rate with the dealer.

 

Yes I also took advantage of that 3 day promo at the end of march of 2.9. They do not make that public, i guess you just gotta know somehow! I just got lucky...but there rates range from 3.74 to 4.9...depending on credit

 

i got 4.59% 60 months through chase and i'm a first time buyer

 

Check out this forum on interest rates

http://www.acura-tl.com/forums/showthread.php?t=74666

 

I went to my credit union before going to the dealer and locked down a 4.75% rate. The dealer matched it, but offered to cut the rate to 3.54% if I would take the $1,175 6 year/75K extended warranty (which ended up adding $11.00 per month to my monthly payment).

I plan to take out a home equity loan and pay off the car loan. HE loans are going for 2.9% from my credit union, and the interest is deductable.

 

I doubt you can get a fixed HE loan for 2.9%. That is likely a variable rate, and the fed will likely be raising rates this summer so I don't want to risk it with a variable loan.

 

I used a similar strategy used by Budman. I secured a loan at www.peoplefirst.com. They send a voucher. The dealers don't like it but will match the interest rate. I had it a 3.89%. The dealer gave me 3.75%.

The guy doing the loan rate actually showed me the software he used to find it. He had about a dozen offers on the screen from various banks. I'm sure they added a fee to the deal but I'm happy!

 

that is the current rate at my CU.

 

I'd jump all over that, after tax that's around 2%. Is that fixed for 60 months?

 

The first time I bought a car I walked in with a pre-approved rate from my credit union. The dealership offered to beat it by .25%. I went for it. I didn't notice until after the fact that they had charged me a $300 "finance charge". That ended up being worse for me. I was young and I fell for it. Don't make the same mistake I made.

As far as current rates, my credit union has 3.99%/60 mon. I think that is pretty fair.

 

Yeh, 3.75% for 60 months fixed. No extra fees.

 

If you have good credit (700 score or above) you should be able to get below 4% on the internet (check bankrate.com for current rates). Capital One Auto Finance has rates well below 4% for 36 months, and closer to 4% for longer (and they are always listed on Bankrate.) At least part of the explanation for lower rates online is that they will want you to pay through automated deduction and to do the loan application online.

My Acura dealer offered to match the Capital One rate that I got, but I already had their voucher/check and didn't want to hassle with more fine print.

BTW, it is ALWAYS better to walk into the dealership with the loan in hand--then you can make it seem like your doing them a favor by allowing them to match...

 

Just to be sure of the math: since the TL has a 4 year/50K warranty already, this is really a 2 year/25K mile extension, correct? Seems a little steep.

What's the likelihood that a new Acura will do something nasty enough before, say, 100K to justify the cost? A BMW, sure--they love being in the shop--but my sense is that Acura is a pretty reliable marque.