I went to Acura dealer to see how much a Tsx would come out to be. I got price at $535 a mouth for 6yr plan, dose that seem right. Cause 535x76months= $38,520 I think it to much of mouth cause I got 7% interest and I was quoted 30,250 after taxes, so i cannt believe it 8,000 just in interest.Can anyone help me out cause I have never purchase a car before, I am 1st time buyer

 

Is your credit good?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by ISPhuevos &raquo;</TD></TR><TR><TD CLASS="quote">I went to Acura dealer to see how much a Tsx would come out to be. I got price at $535 a mouth for 6yr plan, dose that seem right. Cause 535x76months= $38,520 I think it to much of mouth cause I got 7% interest and I was quoted 30,250 after taxes, so i cannt believe it 8,000 just in interest.Can anyone help me out cause I have never purchase a car before, I am 1st time buyer</TD></TR></TABLE>

6 years = 72 months x $535.00 = $38,520.00 7% interest on $30,250.00 = $2,117.50
I just bought a '08 6 Speed Navi with the oem lip kit visors and trunk tray plus tax was $32,300.00 plus 7% interest. Make a few demands on the price you wan't with what you want and they will work with you.



Modified by HyNtegRa at 12:19 AM 2/18/2008

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by ISPhuevos &raquo;</TD></TR><TR><TD CLASS="quote">I went to Acura dealer to see how much a Tsx would come out to be. I got price at $535 a mouth for 6yr plan, dose that seem right. Cause 535x76months= $38,520 I think it to much of mouth cause I got 7% interest and I was quoted 30,250 after taxes, so i cannt believe it 8,000 just in interest.Can anyone help me out cause I have never purchase a car before, I am 1st time buyer</TD></TR></TABLE>

yeah 8,000 in interest for a 72 month loan sounds about right. oh yeah fyi they don't take 7% of $32k.. understand what apr means.. anyway, go to cars.com and use the car loan calculator. you'll see

 

...one more thing.. your credit is rated about averaged if you're getting a 7% apr. could've gotten lower but its koo

 

Well my credit score was 740. Has anyone got a new tsx and how much were your payments Oh yeah and Im not putting nothing down and no trade in!!

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by ISPhuevos &raquo;</TD></TR><TR><TD CLASS="quote">Well my credit score was 740. Has anyone got a new tsx and how much were your payments Oh yeah and Im not putting nothing down and no trade in!!</TD></TR></TABLE>

740 is better than the average person. you're paying just the right amount of interest. trust me on this..

 

with good credit you could probably get a lower rate to save a few$$$ probably 4-5% or so, worth getting your own financing if you ask me..

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by GRAVEDIGGER &raquo;</TD></TR><TR><TD CLASS="quote">with good credit you could probably get a lower rate to save a few$$$ probably 4-5% or so, worth getting your own financing if you ask me..</TD></TR></TABLE>

you're right on that but keep in mind that your income plays a big role in determining the interest rate. ALSO, the longer the term of the loan, the higher the interest rate.

 

another tip on buying the car with no down payment and no trade, cause that is one thing aginst you, is to go at the last day of the month. think about it, i work on commision and on the last 2 days of the month i try to give things away to make a sale. you have to do what you have to do. you are more likely to get a better deal in those last 2 days. GL with the buying hope to see some pics of it one day???

 

he got a better percentage than me i got 15.7 % intrest. i pay 621.00 a month on my 6mt. '04 tsx.. i have young credit is what they said

 

I was talking to my brother and he said a use 07 tl type s goes for the same price, but i guess I just the best car and paying has little as possible. My term for the 08 tsx was for 6 yrs.

 

IF YOU ARE GETTING A LOAN, DO A 5 YEAR LOAN ON BI-WEEKLY PAYMENTS!! ITS CHEAPER PER MONTH AND YOU SPEND LESS MONEY

 

penfed.org has really low rates.
i got 4.99 on my used tsx for 60 months.
7 imo is too high on a new car with a 740 fico.

 

Why would you ask to buy a car based on a payment amount?

 

your intrest rate (actual) isn't just as simple as 1.07 x $30,250.00. APR is just a quoting system for interest rates. It is not the actual interest rate, your actual interest is probably around 7.25%.

But you still can't take that rate and multiple that by the purchase price.

Most likely interest is compounded daily, you you take that interest rate and divide that by 365 and then multiple that by your purchase price. Do it for every day, and then minus out what your payments are each month.

I am no finance guy, so i don't remember the exact formula but it is something close to that. If you search on google there are some online calculators. Were you input your APR, payment, and length of the loan.

 

Given the low money factor on the current 08 TSX lease special, it might actually end up being cheaper to do that for 3 yrs and then buy out at the $16,750 residual.

That's what I'm doing, but then again I'm also not 100% sure that we're going to keep the car past 3 years, so I wanted the flexibility.