| BellTeck |
Were any of you able to get the 0% Financing on your X? If not what are the best rates?
TECK! |
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| genemish |
| on the same subject, what's the current Money Factor Rate when it comes to leasing?? The APR should be below 6% for sure.. |
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| davegood |
| I think that my dealer said that his AHFC leasing rate was around 4.8% |
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| genemish |
| that is EXCELLENT!! |
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| davegood |
It is excellent, but this was my salesman, not my dealer's finance guy. You may want to lob in a call to be sure. Either way, as you mentioned, it should be sub 6%.
If you're leasing, check out the leasing site I mentioned before -
http://www.leasecompare.com |
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| davegood |
just as a for instance -- the money factor for the 2002 MDX is listed as .00227 -- to convert this to a rate, you ALWAYS multiply by 24 = 5.448%, and that's not even subsidized at all by Honda.
I'm not sure that I'll use a lease from the site, but I will definitely take a print out from it. |
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| genemish |
| what about Residual info?? Any 2001 LEASE-rs out there who got their baby EXACTLY a year ago.. what was the Residual for a Touring + Navi for 36/39/42 months??? |
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| davegood |
I think that this is also better via Honda. That website comes up with a 54% residual on a 36 month 15k/yr lease.
I seem to remember my dealer quoting me much higher residuals, but I don't want to quote it because I can't remember for sure.
Hopefully Roger or another dealer can quote some rates from early 2001s. The residual does decline a few % points over the course of the model year, though. |
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| genemish |
| that's absolutely correct and exactly why I decided to wait for 2002 .. the residual will be HIGHEST possible on 1st 2002s.. I do know that the residual differs depending on the model (touring, navi, touring + navi).. it is actually a few points lower for touring+navi comparing to the base model.. |
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| genemish |
quote:
Originally posted by davegood
just as a for instance -- the money factor for the 2002 MDX is listed as .00227 -- to convert this to a rate, you ALWAYS multiply by 24 = 5.448%, and that's not even subsidized at all by Honda.
I'm not sure that I'll use a lease from the site, but I will definitely take a print out from it.
where did you find this info? |
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| davegood |
Which info -- the multiply by 24 calculation, or the rate quote.
The multiply factors by 24 is just common leasing convention.
The rates and residuals I saw were on that lease compare website -- http://www.leasecompare.com -- just do the compare auto leasing rates and select 2002 MDX. It still has the 2001 price, but the residuals on the 2002 are clearly a higher % than on the 2001s. |
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| genemish |
| I meant the Bank Rate of 5.48%.. I will look on the website.. |
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| davegood |
| multiplied the money factor listed on that site by 24 -- i put is 2002 mdx touring nav, and it gave me a factor of .00227. |
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| genemish |
| residual is horrible.... it's gotta be somewhere in mid 60s% |
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| davegood |
| Like I mentioned before, I think that the residual was in the 60s, I just don't want to quote it, as I can't remember for sure. I will call my dealer at lunch and get a rough idea of the early 2001 lease residuals. |
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| GCK |
| I am getting a Line of Credit against the equity in my home. The interest rate is 3.25% for first 6 months and later goes to prime (5.5%). After tax deductions, this turns out to be 2% for the first 6 months and 3.3% later. Can't beat that! Anyone tried this route to finance the car yet? |
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| davegood |
| Great way to go, unless you see yourself moving anytime soon |
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| genemish |
| bellteck, let me know what your dealer says, thanks |
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| cyborfool |
GCK, great deal! i was planning on doing a similar deal thru Bank of America (in CA); 3% off an Adjustable Rate (currently around 7%) for 6 months, then moves to the Adjustable Rate.
planned to pay it off in about 1 year anyway.
if i may ask, what state are you in? what bank / financial institution did you use?
thank! |
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| GCK |
Cyborfool:
I am in CA. SF Bay Area. I am not sure which Bank, but my mortgage broker is coordinating this effort. Please send an email ( gopik@yahoo.com ) if you need his contact information. |
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| A2MDXer |
| I did a traditional auto finance loan for 6.5% fixed (offered it up to 5 yrs.) through a federal credit union. |
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| genemish |
| i would presume that the least figures are below 6%.. I'll let you guys know exactly what I am getting soon (on a lease) |
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| gokings55 |
| I was able to get a six year loan to buy at 6.25%- check out peoplefirst.com |
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| GCK |
Costco members can get auto finance rates as low as 5.84% from People First. This program is not available for residents of CA, ND, NH, NV, PA, and RI.
check out http://www.costco.com if interested. |
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| texrb |
Haven't seen 0% financing for any Acura/Honda products that are subsidized by AHFC. I wish AHFC did have a program running like a lot of the other auto makers right now.
I could have gotten 5.25% for up to 72 months thru Wells Fargo - that was the best straight rate I found. I opted to lease thru AHFC because I generally trade every 4 yrs and payments were less. Besides I am protected if for some reason the bottom falls out of the SUV market.
One interesting thing I found that Wells Fargo was doing - they are offering a balloon payment where you set the payment terms. For example, I could have done a 48 month balloon for $350/mo ($0 down) - but the downside was the balloon payment was about $30k. This is not the same program as the traditional "smartbuy" - just a way to have low payments & hope like heck you can sell your car for close to what the balloon amt is. (In this example there is no way the MDX is worth $30k in 4 yrs). The interest rate on that program was 6.25%
Banks are getting creative right now - so check out all your options. |
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