Last post on Dec 09, 2013 at 8:33 PM
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Acura RDX, Car Leasing, Car Buying, SUV
#714 of 2248 Re: new incentives? [tommy_gunn]
Jan 06, 2009 (5:21 pm)
Well the all cash and financed deal were the same untill monday, now it seems like the financed rebate has been reduced while the all cash rebate has been increased, so under the current incentive plan the all cash deal does provide more bargaining power. In terms of 2010 RDX - it will not be in showrooms for quite some time but wil be unveiled in 2 months at the NY autoshow with a styling refresh as well as most likely an updated nav that will have improved ipod integration and USB (same as other current acura models) there is also a chance that the engine will be revised addressing fuel economy which is ultimately the achillies heel of this car. Regardless of the outcome the march unveiling should make the 09 RDX a tougher sell without further discounting
#715 of 2248 Re: new incentives? [baltik]
Jan 07, 2009 (2:45 pm)
This is really a shame. Acura is actually giving worse incentives this month! They increased the cashback to $2500 from $1500, but they won't allow us to get their promotional financing. So even though the price looks good, assuming you get your own financing at 6%, over the term of the loan you actually will pay $2000 more over 60 months even with the additional $1000 off this month. Before you could save a ton in interest since you could get the $1500 cashback and 2.9% for 60 months.
#716 of 2248 Re: new incentives? [chewy734]
Jan 07, 2009 (3:28 pm)
I think it's rather insane that people are using financing in this economy, if people don't have sufficient liquid cash to purchase this vehicle, a used forrester will get the family to the snow just as quick. Since job, investment and savings stability are declining, it's irrational to not assume a worst case scenario. And since we are in a 0 interest rate environment it's not like people are going to put the money in a CD and realize a material return. Yes I realize that this is off topic and may come off as condescending but I had to tget it off my chest.
#717 of 2248 Re: new incentives? [baltik]
Jan 07, 2009 (7:34 pm)
You do have some good points... but most people don't have enough liquid assets to safely withdraw about $30-35k for a car and not feel it. Even if you have $100k saved up, that's a third of your savings! I think it would be a risky transaction not to finance it, unless you have a ton of money lying around, which most don't.
It just sucks these car dealers are playing a game where the upfront price is lower, but they are more than getting their money back through their really crappy finance rates. In this bad economy for most people, they should be offering close to 0% rates with all the other cash incentives possible.
Now we might be looking at a used BMW since they are offering 0.9% for 60 months AND the first two payments made by BMW (on most '06 CPOs). That's what I did a month ago to get my new 330i, and that's what I'm telling my gf to look at now. The RDX is a great compact SUV, but they aren't really giving us great prices and financing after running the numbers.
#718 of 2248 Re: new incentives? [chewy734]
Jan 07, 2009 (11:19 pm)
Baltik makes a necessary point, but unfortunately it is not relevant for all people. In some cases it does make more sense to finance, if you can get .9 or 2.9 financing, and free up your cash for other needs or emergencies. For many, plunking down 30k cash would eliminate all or much of their emergency fund or savings. The argument there of course is if that is the case, then you cannot afford the car.....
But chewy you need to look in the mirror man. On one hand, you say how 30k is a third of your savings if you have 100k, and make it sound painful. Which it is. Then on the other hand you are crying about the difference between 2.9% and 6% financing, yet you go on to say you just bought a $40k+ bmw 330i, and are also considering either a new RDX or another 330i. You are talking about $80,000+ in new vehicles, yet fussing over $2000 in interest costs. Either you are in way over your head in automobile debt, or you don't know math and money very well, or both. And then you talk about ditching the Acura for a CPO or new BMW? That is an entirely different class / brand / reliability of vehicle.
In any case to get off your personal discussion, I do agree the Acura scenarios do not make much sense. Nissan and Toyota (and all US auto makers) are massively advertising 0% rates across the board, yet Acura was only going down to 0.9 + 2.9 rates, and even now pulled those. Not sure of the logic there. But you must realize that your local dealer benefits less now, because I don't believe they get much or any of the financing profit. That goes to Acura/American Honda Finance Corp. The dealers only get profit from the sale of the car and its margin. If they get anything from the financing, I doubt it is much.
I will call my Acura rep this week to confirm the deals on the table. If the stories are true, I will tell him my purchase is on hold. I can drive my old camry until the deals get better. Running out to get a CPO BMW would be flat stupid.
#719 of 2248 Re: new incentives? [chewy734]
Jan 07, 2009 (11:22 pm)
The Acura website still shows the financing offers as available...
0.90% APR for 24-36 months or 2.90% APR for 37-60 months
#720 of 2248 January Incentives
Jan 11, 2009 (8:58 pm)
Just went to an Acura dealer outside Chicago yesterday, and I can confirm they are still offering 0.90% APR financing for 24-36 months or 2.90% for 37-60 months on the RDX if you qualify for their top credit category. Apparently this will run at least until 2/2.
Thanks for the info about the 2010 refresh. Hopefully this may mean there is more room to negotiate selling price, if they think people are going to start holding out for the 2010 model.
#721 of 2248 negotiating price
Jan 13, 2009 (3:10 pm)
Will I be able to get a lower out the door price by taking the current financing offers or getting my own financing/paying cash?
#722 of 2248 Re: new incentives? [baltik]
Jan 13, 2009 (11:11 pm)
Just leased 09 rdx w/ tech for 435+tax/month $1000 down 3year 10kmiles/year. Dealer sold the car for $33,211