chillingrsx

So I'm sure most everyone knows and probably experience the vibration issues with the car. When I first got the car off the dealer lot, that's the first thing I noticed when driving at highway speed. It's coming from the center console. Got my car back in November 2015 and didn't went to the dealer to get it fix until recently.

Anyways, so yes, I was given a 2015 V6 Tech package as a loaner. After many headaches and back and forth to the dealer, and to point of reaching out to Acura Corporate office, they finally fix the dam vibration issues.

This thread is not about that, but my review and comparison of the TLX and ILX since I had the TLX loaner for almost 2 weeks.

The first thing I noticed and felt right away is how awesome and comfortable the TLX seats are. OMG, it's night and day difference. Snug you in, you feel like your body are wrapped in it. It feels like my 2003 RSX. I love it. Why can't the ILX have that seat. The nagging and annoying thing about the ILX is how low the roof is, I'm 5'11" with spikey hair and my dam hair always rubbing touching the roof even with the lowest seat setting, it still feels too close. About an inch of space left from my head to the roof. TLX doesn't have that problem, in fact, my seat setting is in the middle as the seat gets so low. Next is the dead pedal, another big huge difference. It's like my RSX. In the TLX, it's wide and at lower angle, my balls can breathe. In the ILX, my leg are closed together, the angle is too steep. I hate it. The ILX gets really uncomfortable if I'm driving more than an hour. Another awesome thing about the TLX is the sound system, but i won't get into that since it can be upgrade cheaply.

In term of how the car drives. In every day to day driving, the TLX is just that much more comfy to drive anywhere. I love how rear wheel assists you in turning. It works like a wheelchair. They called it vector steering and I love it. Make the car feels more balance and gives you the confidence. The ILX handling is not bad either, I would say they about equal in term of handling but the edge goes the TLX. It's just feel comfortable, reassuring and less body roll. The suspension soak up bumps and pot holes nice. The ILX is more abrasive and harsh, you can feel everything on the road. In term of acceleration, this is where I think the ILX have the advantage. The TLX V6 is nice and you can feel the torque but for some reason, it feels slower than the ILX. You can feel the heaviness of the car even with the V6. I would say the ILX is quicker and probably faster in a drag race 1/4 mile due to it lightness. The manual steering shifter is not smooth like the ILX, yes I know it's not dual clutch but it'll be awesome if they have it for the V6, I would have trade ILX for that.

So overall, in term of comfort and every day driving, the TLX wins. In term of quicker and more fun, the ILX is it. Just wish the seat is better and more head room. I'm keeping my ILX for a while until Acura comes up with something better. Hopefully they bring some two door coupe back to the line up. No, the NSX doesn't count, an average joe like me cannot afford it.

Nexx

the TX V6 will eat an ILX alive in the quarter mile.

chillingrsx

Yea, I guess you're right. Maybe the weight of the car makes the car feels like it slow but it's actually not.

usdmJON

So the car that costs like 10grand more is a better car? Damn. Never would have guessed.

nothome17

The ILX should of been the successor to the Integra and then the 1st Gen TSX the successor to the ILX.

chillingrsx

Im just mad how shitty the ILX is being its $35k average.

usdmJON

35k average? I'd call 35k on the high end for an ilx. Even the 2016.

Most 2.4 owners pre 2016 got away with around 27k. Mine was 29k with a few add-ons. Mines not a k series but it's the tech package which msrpd on Acuras site for about 30k.

So to me when you say 35k I have to ask did you add to your model or just get charged as much as the dealer could get away with.

I love my ilx. And it's slower than yours being an r20. Still love it though.

aomechmarine

Backstory...(feel free to skip)....

My sister just graduated as a Registered Nurse... She broke her arm recently... "healed".... but she also still has to pass her state/national exam... So not actually working just yet...But my best friend is an RN and he makes about $85,000 a year, working 3 days a week, with some random extra days... I got on his ass - buddy to buddy... Told him to suck it the fuck up and make that paper.... I pulled 10-12 hour days in the military 5-6 days as a normal thing on Active Duty Marine Corps...his hospital offers overtime and bonuses for overtime, ALL THE TIME... Before he was a nurse, he straight up had easy ass lazy jobs, so he wasn't used to putting in work... NOW, he's working/averaging about 4 days a week... Made over $50,000 so far this year, and he's BARELY starting to take advantage of that overtime... He owns a 2014 TSX... I WILL convince him at some point to Mod it.... SOOOOON.....

And my sister is a hard worker... I'm gonna make sure my buddy helps her get hired... I'm pretty sure she can hang with the overtime after her first year... first year is really rough for RN's....

Actual point-

My sister actually really likes my car....She said she thinks she wants an ILX... But she has a little beater 1996 Honda Accord, so my car probably just feels amazing in general to her....... HELL NO!... There is NO WAY I'm gonna let her get an ILX for $30k when she can get a badass TLX for $35,000... She said she would also look at Accord... Honestly think she's better off with that, too... Current ILX pricing is too damn HIGH!!! But I hope she gets the TLX so I can mod it too!... YEEEEES.....


I really like my car... But I got it for cheap, ... And I ALSO hate the low roof... makes it annoying when I wear baseball caps... I sit up straight and tall.. My head is near touching the roof... So it makes me kind of unconsciously slouch at times... Longer drives , I have to be more aware of sitting up properly or my back is kind of like... eehhhh... and I've boned chicks in the backseat... I move the front seats all the way forward... But the with the low roofline, I have to keep the Moonroof open and angle my head partially out of the car when I'm pounding a chick doggystyle... And I am with my knees on the floor of the car (or one knee on the seats, one on the floor), and I get the chick with one leg on the back seats and one on the floor... Seriously Acura...WTF?! So I agree with this... That's my only gripe... small car... but its what i needed for now... Gets the job DONE!

jpohl930

We thank you for your honest in depth review.

chillingrsx

Ok maybe I'm overexaggerating on the $35k. But still, you would think that paying around $30k would give you more bang for the buck. For the guy that said

Quoteriginally Posted by usdmJON
So the car that costs like 10grand more is a better car? Damn. Never would have guessed.

Tell that to the Civic owner who feel they get the best money worth for their car. I'm not dishing the ILX but I was hoping there's more to it. The only reason I got the ILX is because my RSX was on it's final legs. She keeps having problem after another. I thought that with all the money spent on fixing and moding, why not just get a new car? Plus, there's no other good car out there and I want to stick with Acura as I love them.

The Dark Knight

iTrader: (1)

for 30k did you consider the mazda 6?

schen72

Nobody actually pays $35k for an ILX, unless you just blindly pay MSRP. I paid $29.5k for my ILX which is the top trim. I've also had a TLX loaner while my car was being serviced. It's pretty nice. But it is certainly larger and more expensive.

schen72

Too bad there's no Advance trim on the 2.4 TLX. I like having all the tech goodies. Unfortunately you have to go up to the V6 model if you want the Advance trim, and then you're looking at probably $40-42k real life pricing.

usdmJON

OP said he did. Then he admitted to exaggerating when I asked about it. So frankly Im writing his entire experience off as an exaggeration.

aomechmarine

mmm Honestly... don't think my sister will care about ANY of that.. her 1996 Accord has roll up manual windows...No tint... NO AC in hot ass California... paint coming off... She would be ECSTATIC with even the lowest trim TLX... she is trying to be smart and not buy a super expensive car...She wants to pay down loans and be able to budget to buy a house better then just a tricked out car and an apartment... So seriously, she would be fine with even a new Accord Sport... BUT.. I mean... i know how to haggle and she is a real deal professional... I feel like she deserves a nice car for all her hard work... REALLY hoping she gets a TLX... even the lowest trim... But I DO need to research the car a bit to help her choose... This won't be for a few months tho, so its whatever... I bet around December...

schen72

If trying to be frugal, an Accord would be a better value, IMHO. For the same money, you can probably get a higher trim Accord with more goodies.

paperboy42190

iTrader: (7)

Just curious, what kind of vibration problems did you have? I'm not feeling that from my car. And what was the solution to the fix?

as for the tlx and ilx comparison, I definitely feel like the tlx is a much more luxurious car, however that's what it was designed to be. I've driven both and I decided on the ilx because I honestly just like the more nimble feeling of driving a smaller car. I'm only 5'8" so the size issue is not a problem for me at all. I did get the aspec trim so I like how the suede seat inserts hold me well during quick maneuvers. There are times during long drives when I wonder if a tlx would have been a better choice, but if I had the tlx I would have to get the v6, and that's quite a bit more money

it does kind of annoy me that the adaptive cruise control on the ilx doesn't have low speed follow, whereas all the other Hondas and Acuras do

Joseph Park

dude why is everything a story with you?

secondly the 2016 are going way bellow invoice right now. Techs w/ A-Specs can be had for sub $30k. I got my Premium for $26k before TTL

I think the best value are still fully loaded Civics or Accords, which at the moment school Acura's in features with Android/Apple, rain sensing wipers, rear heated seats, and more room

aomechmarine

Because I can both read and write fairly easily. I made it super easy to skip the backstory. Not sure if you didn't see that. I steadily REJECT most of the BS millennial generation social media selfie stick BS... But it IS 2016, so it's kind of impossible to reject 100% of it.. or else you are the ostracized odd man out.. So this is one of my "social media" outlets.


I sold Honda's and I am a MEAN ass deal seeker that understands how to save cash...HOWEVER, I purchased my car BEFORE I ever worked for a Honda dealer.


My ILX was purchased for $21,500 WITH TTL INCLUDED... after 5 years of payments protected the whole time by GAP Insurance, My car will end up costing less then a total of about $24,000 OTD total purchase price. Granted.. I know what I'm doing and My ILX was "pre-owned"... But I bought this car with low miles and about 6 months old....Another man's loss and my gain... I try not to purchase "brand new" if I can help it. I'd rather let someone else take the new car hit.. on my new car...

At $26,000.... your ILX BEFORE TTL, your car will end up costing you about +10% for the TTL - so now you are at $28,600... add in the same financing charge to mine (26,000) x(1.54%) PLUS GAP insurance and your total OTD price is ACTUALLY going to be about $26,000+$2,600 (TTL)+ $4000(Financing)+500 (GAP - average "low" price, and assuming you did not finance this as well)... So $26,000+$2,600+$4000+$500 =$33,100 actual purchase price

MAYBE you should read some more of my stories....

That's $33,100... PLUS any upsold products - accessories, extended warranties, means you are going to EASILY pay CLOSE TO OR OVER $35,000 for that car....so HELL NO!! that's $9,000-$12,000 more!! For the same trim level ILX? (granted,a very different version)...EVEN WORSE an ASPEC!!! Thats gonna be close to $40k actual purchase price!! HELL NO!!!! Not in any way would I help my sister buy a version of my car that is $9,000-$12,000 more... ESPECIALLY when she is not getting "more car" in any way that she would care about, AT ALL!!.... What exactly is she getting for that extra S9,000-$12,000? NOT ENOUGH - so I'll help her either go cheaper or go bigger.

MOST people I sold cars to ... would WAY rather have a Honda Accord Sport (second lowest trim level... HIGHEST SOLD trim level) instead of a tricked out Civic. The Accord is just bigger, roomier, and more comfortable then the smaller Civic... Plus this is America.. Seriously.. we are caught up on image and perception...

But basically, same logic. TLX (Accord) is a "nicer" car then the ILX... Doesn't really matter if you get the tricked out top of the line ILX... Most people will see Lowest trim level TLX and "know" it's a "nicer" car.... Which will also be HIGHLY reflected in the resale value... The cars that are the highest trim levels, absolutely lose the MOST resale value... (rare exceptions are a legit numbered amount or sought after car)

The ILX ASPEC and TECH packages WILL lose the most on resale value... 10 years from now, the person looking for a car to beat up on isn't trying to pay a couple grand more to pay more for your cool 10 year old ASPEC wheels and aero kit.... If you enjoy it while you own the car, FINE, but you are taking a DOUBLE cost hit... Both at purchase and at resale. My sister is NOT a car enthusiast or a car tech person...or even "oh cool wheels" person... Most people aren't.

paperboy42190

iTrader: (7)

I don't know about you guys but I am not paying anywhere near 4K for financing charges.... And definitely no need for gap insurance either. Why buy a car if you aren't able to make a sizable down payment?

aomechmarine

EXACTLY - But that's with a GOOD rate - MOST of the people I sold cars to had WAY crappier rates!!!

The money I didn't put in to the car I win - in two ways. I have a 5% interest gaining Checking Deposit account with Pentagon Federal Credit Union. So that is at least a 3.5% WIN... IF the car gets totaled out , then the loan gets paid off by the GAP insurance... So I will NEVER lose any of that money out of pocket.... PLUS IF i need that money for anything .. I have it...

If you do a $5000 down payment and your car gets wrecked 6 months later by a drunk driver... Your GAP insurance pays off the loan... Insurance pays out the "value" of your car....BUTaren't getting your $5000 back. Any money you front loaded into that car is essentially LOST.

paperboy42190

iTrader: (7)

that's only true with a lease. you will lose any money that you have put into the car as that's all sunk costs. If it's financed, any positive equity that you have on your vehicle, you will still get back from insurance. Either way, you are still only losing money on the depreciation, which would have happened if your car wasn't totaled anyway.

I get what you're saying about having money in your bank instead of having it tied up in your car though.

aomechmarine

Think this is what you mean right?
Separate insurance policies... Example... I owe $11,000 on my ILX now... So car gets wrecked... Navy Fed car loan financier, pays GAP, I walk away from the car. Car value gets paid out by USAA, my insurance peeps. So You are saying that I will only get the part that I have paid into the car? As far as I understand, that is not the case at all. But i will review the policy now...The policy I have, as I understand it... would pay out the replacement value of the car. Feel free to tell me how and why I'm wrong... I have thick skin and prefer to fully understand... describe how this scenario is not correct?? So lets say they assess that to replace it, it would cost $11,000. That's still a $22,000 SWING in my favor... Right?

Which is also why I don't see the point in buying a car in cash... Unless you just really have that much liquid cash just sitting around, and are using it because money talks and you are purchasing in cash money to get a MEAN discount...... But I'd rather have a cheap interest rate and have the money at hand free to use whenever, and gaining interest...

VS

Car gets totaled, you paid it off, or you put a lot into it, such as big down payment or paid cash..... simple numbers, lets say $20,000 car and You A)put $2,500 down B) Paid cash...

Scenario A) - 6 months in car is totaled. You made 6 months of payments. Car depreciated.You Have GAP insurance, so you walk away clean from loan, Insurance pays out depreciated value of the car. Bye Bye $2,500 Down, because that is probably the amount of the depreciation hit. And Bye Bye TTL costs (sake of argument, lets say it was $2,500). plus whatever you paid for 6 months...

Scenario B) 6 months in car is totaled. Car depreciated. Car paid off, no loan to worry about. BUT you bear the full brunt of the depreciation hit to replace the car. so $20,000 car, BYE BYE TTL ($2,500) and BYE BYE $2,500 in depreciation... PLUS bye bye 6 months of interest that $20,000 could have made for you in profit in various forms of investment accounts....

OR
Scenario C) Low interest percent loan, ZERO down- 6 months car gets totaled out... Have GAP, walk away from loan... have only made 6 months in payment... Still lose and say good bye to TTL (government always wins)... get paid out value of car replacement... although this would seem odd because then the person profits from the loss? So there is probably/most likely a point in time where you get paid out some money... and then there is point where you get actual car value...?

Think you mentioned you work in insurance so I'm actually curious to learn this...

usdmJON

I have zero idea if I made a "good purchase" in the sense of leasing verse buying and with down payments verse monthly, etc etc.

At the end of the this is what I know. I could not have bought a car with through the banks with my young credit. Lease I could do and it helped secure the great credit I now have.

After the two down payments I made ($2,000 to start a lease and a second $1,000 while "buying out" the car from the lease into a loan. Apologies if I dont use the proper terminology) I make monthly payments I can afford ($360) for a car I love to drive and mod. As well it has 100,000 mile warranty and will be paid off in the next few years.

Once it is paid off I will have a reliable car that should last a while. Once those $360 monthly payments are gone I will be looking into moving knowing my car is reliable and I dont need to stress about cost of ownership after the warranty is up.

Doing some quick math, looks like in total I will have paid $33 thousand for the 2013 Tech package the year it released (missed any good deals since I didnt wait) with 100,000 mile warranty. This purchase also got me from no credit to a score of over 700.

To me it seems all in all it was a good purchase. Unless of course you simply dont think the ILX is a good purchase. I for one though think it is a great looking car, peppy enough, and turns more heads than Civics or Accords do.

Just got back from Spocom thus morning. The response to my car was enough to make me even happier with my purchase. Sure a lot of people here hate on it. But I dont consider a lot of people here to really be part of any car/tuning scene. They are knowledgeable guys that know what they like and what they are talking about. Just not the type of guys who's opinions really matter much to someone with long term tuning goals. People were impressed someone modded an ILX verse making fun of it claiming there are faster cars out there. We had two ILXs out there. Mine and Corsi's which is rocking some aggressive as fuck Weds Kranze all cambered in the rear. Both VIP "inspired." We got love. It was nice.

musty hustla

You have a what? What PenFed product is this?

paperboy42190

iTrader: (7)

No , what I was saying was that you don't lose money by not purchasing gap insurance as long as you have a moderate down payment. After all, gap insurance is still a money maker for the dealers(or whoever sells the gap insurance).

Scenario A: You use cash to buy a car for 20k+TTL(22k OTD), drive it for 1 yr and it depreciates 5k. You crash the car and it's totaled. Insurance pays out 15k+TTL to you(yes, TTL is included, but it only pays you back for a pro-rated amount of your remaining registration).
Scenario B: You finance a a car for 20k+ TTL(22k OTD), drive it for 1 yr and it depreciates 5k. You crash the car and it's totaled. However, you've made 10k in payments, so you still owe 12k on it. Insurance pays out 15k+ TTL. Insurance pays off the 12k to lienholder first(plus any accrued interest for 1 year ONLY) and you get the remaining cash.

I can't remember where/if I mentioned that....but I do work for a car insurance company
You are essentially saying that when financing a car, whatever payments you've invested into the car is lost. That is not true. As long as you've got positive equity, you'll always get any remaining payout back, plus TTL. The only time that payments are truly lost is on a lease, and that's exactly why people say to put as little down payment as possible on a lease since if the car is totaled then everything is lost.

Also, that is not how gap insurance works. This is what it really does:
Scenario C: You finance a a car for 20k+ TTL(22k OTD), drive it for 1 yr and it depreciates 5k. You crash the car and it's totaled. However, you've made 3k in payments, so you still owe 19k on it. Insurance pays out 15k+ TTL. Insurance contacts your lienholder to see how much the buyout amount is, likely going to be a bit over 19k due to the 1 year of accrued interest. Insurance still only owes for 15k+ TTL, so it gives all that to your lienholder. Your lienholder says that's not enough, and turns to you and says you owe us money. This is when gap insurance says "we got this" and foots the remaining balance(likely 2.5k or so)

boosted180sx

gap insurance does not pay off the loan. gap insurance is only useful if you have negative equity on the car. as far as i know, it basically just covers w/e negative equity you have after the insurance pay off so you don't end up owing money on a car that just got totaled out.

I have always put enough down payment so my cars value is higher than what i owe on it so gap insurance is basically useless since the pay off from the insurance will always be higher than the amount I owe.

A)If your total cost for the car was 30k and you put a down payment of 0, your payoff would be 30k. Now you drive it off the lot and it depreciates by 3k, your car is now worth 27k with a payoff of 30k. If your car gets totaled out, insurance will give 27k to your lien holder and you would end up owing the lien holder 3k. That's when gap insurance comes in and pays off the 3k remaining balance for you so you don't owe anything on the vehicle loan. (at least that's how I think it works)

B)If your total cost for the car was 30k and you put a down payment of 5k, your payoff would be 25k. Now you drive it off the lot and it depreciates by 3k, your car is now worth 27k with a payoff of 25k. If your car gets totaled out, insurance will give 25k to your lien holder and 2k to you.

C)If your total cost for the car was 30k and you put a down payment of 10k, your payoff would be 20k. Now you drive of off the lot and it depreciates by 3k, your car is now worth 27k with a payoff of 20k. If your gets totaled out, insurance will give 20k to your lien holder and 7k to you.

So it's not like you LOSE any payment you put towards the car. The value of your car will depreciate whether the car gets totaled out or not so that's a constant in this scenario.

boosted180sx

sorry for the double post, I think I am too new to edit my post still.

should've read through the whole thread before replying, paperboy basically said everything I said except more detailed lol.

schen72

Forgive me if I'm mis-understanding it, but when insurance pays out your totalled car, it doesn't matter how much is still owed on the car, if anything. They pay out the car's blue book value. Whether you personally get any money depends if the lienholder is still owed something.

aomechmarine

Checking Deposit accounts... Most of the time they are just referred to as CD's. Or sometimes "Money Mutual" accounts or "Savings Deposit" accounts... I'm not sure what their current rates are.. I'm pretty sure this was a special rate at the time. Most of the time I put my stuff into Navy Fed CD's, they have given me as high as 7% before! But obviously, different account limits, minimum and max amounts... YMMV

aomechmarine

This is what my policy is... as far as I understand it... GAP pays off the loan... Their is most likely different versions of GAP as well... I was never told I would get TTL back....even at depreciated value...

As far as I know, the GAP people have nothing to do with my insurance paying me out the value of my car, TO ME. I'M the one paying them for insurance. NOT the lender. Therefore, they have ZERO reason to pay them directly. I would receive this money. THEN if I owe more money on the loan. I'm either screwed on that... OR saved by GAP paying off the loan.

BUT... there is most likely different types of policies and coverage... Regardless... I'm learning a bunch.... I also see your guys points about the down payments...

Joseph Park

So you know how to type, why write a novel? Also, what does your millennial rant or selfies have to do with anything?

I think honestly you have no clue what you talking about. Good for you that you purchased a used car, smart but again who cares. On the same token the first two cars I bought were CPO and I had nothing but problems with them (Honda and Acura), so while CPO financially makes sense no matter how clean the car looks you are gambling a bit. To compare your 2013? model to a newly refreshed 2016 is like comparing apple to oranges. I don't know if I want to ask, probably it will just make you go on some rant but you never mentioned if the car was CPO, how many miles, or what trim. But if you want to compare transaction fine. Again it's like comparing apples to oranges because I leased but... My negotiated price was $26,261, tax $753.85, acquisition fee $595. I had $1650 in cap cost reduction from a lease trade in (2016 RDX AWD Base) so the 1st months, DMV fees, and rent charges were paid for. $1650 cap cost reduction minus the cap cost left me with an adjusted cap cost of $25959.85 My residual value is $17,578.80. Money factory is .00011 or .2%. lease is for 24 months again 1st months paid for, so 23 months of $354 which is $8142 12k miles a year. Gap insurance is covered on all Acura leases BTW. I drive 7k-9k a year at most. So lets say after 23 months I love the car. Buyback of $17,578.8 and lets say I put 35% ($6,500 down) more or less to get roughly the same monthly on a buyout. I can secure a loan easily for 2.79% (that's on the high side), NYC tax 8.875%, $366 a month for the next 36 months. So after 5 years total paid roughly will be $28,818 total. MSRP is $30,840, factory is $29,292, and some people pay $28,000 before TTL. How did you get $35k again? While you let "someone" else take the hit for buying the car new I let the Acura take the hit in subsidizing the lease since they gave me close to $4000 in incentives to lease.

any car after 10 years will loose most of their value... God face...

Joseph Park

To explain how gap insurance works, you owe $11,000 on your ILX. Let's say it's worth $16k. With gap insurance they will payoff the $11,000 owed and give you $5,000 minus your deductible. Your notion that even if your car got totaled you would be ahead is true BUT this heavily depends on your car worth. With this being said let's say your car is a 2014 2.4 manual, good condition 36k. The car tops out at $18k retail and if it has mods it's even less. So $7k tops more total loss.

Honestly in this situation since you owe $11k gap insurance isn't needed. Just a waste of money unless you get it bundled in for free. For a lease when for commonly your upside down to begin with it makes sense.

aomechmarine

I wanted to clarify this a bit with some SUPER simple numbers. A LOT... and I'm VERY serious about this... A LOT of people are paying MUCH MORE then $4,000 in in financing charges. THEY SIMPLY ARE TOTALLY IGNORANT OF THIS. Dealerships are all about screwing you over.

$30,000 car x 1.49%(best rate offered by my 3 credit unions, a LOT better then most banks offer... and A LOT better then MOST people even come close to qualifying for)...
(30,000)x(0.149)=4,470

Then you got dealerships offering people 7%-10% interest probably like a normal rate... EVEN with down payment... probably normal rate was like 5-9%

And then you have people with CRAP credit... 12-15% interest rates easily man... I believe that in California, LEGALLY.. they can charge you up to 25% interest!! this dumbass guy came in to waste my time one time at the dealership... HORRIBLE credit wanted a tricked out Challenger.. tried to sell me his watch off of his wrist for $500 bucks.. dealer wanted $7500 down payment and some VERY high interest rate from him.. he said no... But trust me.. I've seen some people sign for some WTF? interest rates.. a lot of broke ass/ in debt people In America nowadays...on the surface they are are "successful"... But in reality they are just deeply in debt... for no real reason other then to keep up their fake ass image...

THAT is what I meant on my little rant... I actually just hate a lot of the fake ass people nowadays... Guess I'm a Holden Caulfield.. sick of all the phonies...

aomechmarine

My GAP was only $300 bucks...Not financed, simply one time payment. Dealer would charge about $1000... AT FIRST... hagglers usually get it down to about $500... BUT it's financed... which adds in MORE financing costs

I agree with your assessment that I would get screwed either way... I am simply trying to MINIMIZE the bleeding....Having sold cars.. I can tell you that... YES, I love them... They are a fun hobby... A necessary form of getting around...but are a MASSIVE money dump!! My policy actually covers the extra stuff I did... Pretty sure I'll get screwed on that if I ever comes to it... BUT iIm supposedly covered for up to an extra $5,000 worth of custom stuff on top of the car value.

boosted180sx

thats exactly how it works.
If the car gets totaled out and you have a lien holder on it, your regular insurance will pay the value of your car to the lien holder. The issue here is when you purchase a new car without enough down payment, you usually owe more than what the car is worth. So after the insurance pays your lien holder the "value" of the car, any amount that is remaining on the loan comes to you. So you will basically be paying the remaining balance for a car that just got totaled out.

This is where this "gap" insurance comes in. In the event that the car gets totaled out and you have a balance remaining because the value of the car was lower than your loan, the gap insurance will cover the difference.

It is too good to be true if you think gap will pay off the remaining loan for the car AND THEN your regular insurance pays you the value of the car. Gap is only there to protect you incase of a total loss when you owe more than what the car is worth. There is absolutely no reason to have gap if the value of your car is more than your pay off amount.

The Dark Knight

iTrader: (1)

Isn't 1.49% = 0.0149?

30,000 x 0.0149 = $447

And without knowing the length of the loan or early payoff date, it's impossible to know the real interest you will end up paying over time.

paperboy42190

iTrader: (7)

I am 100% sure that is NOT how interest works. When dealers give you a percentage, it is APR, annual percentage rate, it accrues as time goes on. For example, 1.49 apr for 5 years is going to accrue more interest than 1.49 apr for 3 years.
Here's a brief summary of how it's calculated. Take 1.49 apr, since it's an annual rate, divide 0.0149 by 12 to get the monthly percentage, so that gets you 0.00124(or 0.124%) each month of your remaining principle. Use any APR calculator to find out the exact amount you will pay for the loan. For example, a $30,000 loan at 1.49% apr for 5 years, you will pay $519/mo, and the total payments after 60 months will equal $31150. Now let's say you have extra cash and want to put more into the principle each month. The same loan and apr, if you put $853 into it each month, you will be paid off in 36 months and total payments equal to $30694.

BTW, 1.49% is 0.0149, not 0.149
0.149 is actually 14.9%

paperboy42190

iTrader: (7)

For a $30,000 loan, for simplicity sake let's say you want to pay it off in 1 year at 1.49% apr, you will have to make $2520.22 for 12 months. Let's look at this amortization schedule, remember what I said earlier about dividing 1.49 by 12? You get 0.0012416. Multiply each month's balance by 0.0012416, and that's exactly your interest for the next month. See how $27517.03 x 0.0012416 = $34.17?

Joseph Park

credit unions are a highly un-utilized asset in financing. With this said some of the APR offered through car financing companies simply can't be beat .9% to even 0% up to 60-72 months. Unfortunately Honda has some of the worse financing and a good promo for them is .9% but only for 36 months on select new car leases or 1.9% for 36-60 months.

One of the biggest misnomers in leasing is the money factor which is basically just a leasing term for APR. Th reason a CR-V costs less than a HR-V is that Honda still isn't doing great APR for HR-V leases, I think they are at 7% or so while the rest of the lineup is sub 4% more or less