[JLee]

Dealer offered 5.9% financing for 60 mos the MDX. Is that good ?

Honda financing for Honda cars is currently 4.9%, not sure if I'm being ripped off.

Thanks


Jeff

 

[Fireblade6]

Dealer offered 5.9% financing for 60 mos the MDX. Is that good ?

Honda financing for Honda cars is currently 4.9%, not sure if I'm being ripped off.

Thanks


Jeff

5.9% is reasonable but an offer of 4.9% from Honda Financing is better..Something to keep in mind when you see like 1 - 4 percent financing from manufacturers is that you have to have like AAA credit rating. Your FICO scores have to be in the high 800

 

[wpf]

I'm in Mass. and AAA has 4.99%

 

[Pauls MDX]

financing

5.9% is excellent, you will probably not get the same as a honda because an Acura id considered a luxuary vehicle and honda is not. The rates on the upper end vehicles are not as attractive as the common car. If you can get 5.9%, I would take it and run. Except if you do what I did and put it on a Home Equity Line Of Credit against your home and get 4.75% and a tax right-off which makes it even lower.

 

[Markedoc]

5.9% is good but why not use AAA (4.99%) as previously suggested? I used them for my last financing. Piece of cake, all done over the phone, and you don't have to be a member.

Go to www.aaa.com for details.

 

[toby267]

Check with your local credit union also. We are getting 4.75% for 60 mo thru ours.

 

[jskibi]

Markedoc:
I checked on the 'AAA' website. They are currently offering roughly 6+ to 11% for auto loans. Unless there is some specific application that needs to be completed or need to talk to a rep personally, they are advertising a relatively higher rate than what you received. Any thoughts?

toby267:
Is there a specific credit union that you applied through?

The application I filled out through the Acura dealership for financing came back at 5.9%. They said I had perfect credit...hope the offer is still good at delivery since they are refusing '.com' financing.

 

[Markedoc]

Well, I am not sure how AA works - maybe the rates are regional. I just checked - for New England they are 4.99% for 36 - 60 mos, 2001 and 2002 vehicles.

Here's the link:

http://www.aaa.com/aaa/240/sne/finance/autoloans.html

Mark

 

[GCK]

I was offered 5.9 by the dealer too. It's different than a Honda as they are trying to get rid of Honda Cars, and they can not make enough of the MDXs.

As an alternative, you may try to get a Line of Credit against your home. It will work out much better.

 

[Markedoc]

>>As an alternative, you may try to get a Line of Credit against your home. It will work out much better.<<

What happens if you miss a payment - is your house at risk?

 

[GCK]

Naah ... They are usually better in dealing with LOCs than the car loans.

 

[Willoughby]

I bought my 2001 MDX last Friday from a local BME/Lexus dealership and got 5.9% for 60 months, and the X was considered used.
My rating is in the mid-700's.
I hope this helps.

 

[JLee]

thanks everyone, picked it up yesterday

took the 5.9% cause i figured, "hell i'm already paying full sticker, and I think I still have some blood left in me...why not.."

jeff