Honda CR-Z Hybrid Car Forums banner
1 - 14 of 14 Posts

·
Registered
Joined
·
10 Posts
Discussion Starter · #1 ·
Hey all been reading the forums and finally decided I am going to buy me a crz here in Canada. Can anyone tell me whether it's worth it to wait till jan for hondas usual low financing/leasing offers on 2011's or just get one now at current rates. ATM it's 5.9 but in jan I imagine it will be down to 2.9 maybe 1.9.. Thanks
 

·
Registered
Joined
·
10 Posts
Discussion Starter · #3 ·
Thank you bizzy that's exactly what I was wondering.. Do you have any idea how much they might negotiate the interest rate? I'd like to be at 3.9 ... Anyone in Canada have any luck getting that down? Thanks
 

·
Premium Member
Joined
·
5,333 Posts
i only bought 1 new car in my life and i was so excited that i didn't even pay attention to that APR stuff lol... i just took what they gave me and left with the car... now that i know i can negotiate the APR, i'll do that when buying my CR-Z...

maybe someone from Canada that has bought new cars there can chime in here?? :popcorn:
 

·
Capt'n Jack
Joined
·
9,499 Posts
Gotta be careful here. Some folks use their own financial institutions and come in with basically a check/cash for the car. Sometimes that is a better deal. You got a good deal with your bank/credit union @ 3% or whatever your credit allows and negotiate with cash at the dealer.

Or, you look at the financing options the dealer has. They have of course Honda sponsored credit and usually also have deals with local institutions. With the local institutions they may have some playroom on rates depending on your credit score. Don't want to say they have back room deals with them, but am sure there is some type of bonus when a dealer or rep points a customer to a local finance resource.

Example, you have that pre-approval from your bank/credit union at xx%. They then try to make you a deal for lower percentage at their preferred institution. Can sometimes work out to your favor. Be careful though. If you playing the monthly payment game as opposed to total purchase price, it can get dicey.

If you have a good bank/credit union, sometimes it may be better to just stick with them instead of going to an unkown. Even if it is a half percent more. On any loan pay an extra 30-50 bucks a month and you effectively save 100's if not more on the interest negating a interest point or 2 or 3.

Scott
 

·
Registered
Joined
·
10 Posts
Discussion Starter · #7 ·
I test drove the crz on sat and loved it. I know a lot of people say it's neither a true sports car nor a true hybrid but once you drive one you realize how great the car really is.. What bothers me is I have to lease the car at 4.4 with downpayment.. Long story short I was leasing a car that I put down too much on and now not happy with that car I've lost most of that money.. So safe to say I am not happy with leasing.. I got the car for 500 under msrp for 260 over 48 mths with a buyout of 12000. My problem is who knows whether or not this car will keep it's value(Honda usually does) and it's only a two seater. Although I don't need 4 seats it's handy to have for those rare situations that I would need to take family around.. So since Mazda has 0/2.9 financing on 2010's I could get a gs for 300 month with the same downpayment and lower interest rate.. In four years I would of paid off more on the car than I would of leading the crz... Plus after the lease is done what are the chances the interest rates will be low to buyout the car from honda probably not in my favor Ugh .. What a mess...
 

·
Registered
Joined
·
3,040 Posts
I test drove the crz on sat and loved it. I know a lot of people say it's neither a true sports car nor a true hybrid but once you drive one you realize how great the car really is.. What bothers me is I have to lease the car at 4.4 with downpayment.. Long story short I was leasing a car that I put down too much on and now not happy with that car I've lost most of that money.. So safe to say I am not happy with leasing.. <SNIP>
I can feel for you, man! I leased my first SI... wont ever lease again! Dealer / bank makes lots of money, we just take the loss.:angry:! Some people like it.. but I will pass! Good luck with that .. hard place to be!:sadwavey:
 

·
Registered
Joined
·
1,285 Posts
usually "special" rates don't apply to limited production cars... so i wouldn't count on anything changing by Jan time...
:yeahthat:

If you're ready to get one, go ahead and get one. Email the dealership. I know in the U.S. you generally get a better, mostly hassle free price on the car. Trade-in's a different beast all together.

Good luck. Hope you get what you want. :hi5:
 

·
Registered
Joined
·
674 Posts
My CU (I think anyone can join it now) has 2.99% APR on new cars right now. I don't do car loans, but @3% it's hard to pass up and I can't get a biz loan that low, so the money will go into the company for now.

As far as purchase price - looks like $1K+ off MSRP is a good start these days.
 

·
Registered
Joined
·
168 Posts
I got a really good rate from Honda Finance, 3% APR which is pretty good in this day and age! The clincher for me was finding a dealer that was a bit more flexible about financing as most Honda dealers seem to be pushing the 3-year GFV deals. I took out a longer deal so I can keep the monthly payments low and use the extra cash to put together a deposit for a house. Then I'll have the freedom to pay lumps off the car as and when. The Accord was paid off so I'm spending more per month, but now I know that for the next three years all I'll have to pay for is tyres, brakes and fuel. I find unexpected bills one of the biggest obstacles to saving up a meaningful sum of money.
 

·
Capt'n Jack
Joined
·
9,499 Posts
What bothers me is I have to lease the car at 4.4 with downpayment..
Your right to be concerned. I believe on a vehicle that has been around for a while with a proven track record of good resale or trade in value, a lease can work in certain circumstances. But on a new model? Two seater. Although we all love our CR-Z's, that may not translate into something others want 3 years from now. But then again..?

We can give you some 10,000 foot level advice, but comes down to how bad do you want one and your personal financing situation. One thing for sure, if you can, would take the time to find another dealer in your area and see what they say - Even if you have to drive a ways. At least your have some comparison data.

R/Scott
 

·
Registered
Joined
·
314 Posts
Your right to be concerned. I believe on a vehicle that has been around for a while with a proven track record of good resale or trade in value, a lease can work in certain circumstances. But on a new model? Two seater. Although we all love our CR-Z's, that may not translate into something others want 3 years from now. But then again..?

We can give you some 10,000 foot level advice, but comes down to how bad do you want one and your personal financing situation. One thing for sure, if you can, would take the time to find another dealer in your area and see what they say - Even if you have to drive a ways. At least your have some comparison data.

R/Scott
No, no, NO, you've got it all WRONG! Our first-year CR-Z's will gather cult status at some point so that any of us that eventually sell them will look back decades from now and say "DOH! What an IDIOT I was for selling my CR-Z back then!" That's my story and I'm sticking to it! :pP:
 

·
Capt'n Jack
Joined
·
9,499 Posts
No, no, NO, you've got it all WRONG! Our first-year CR-Z's will gather cult status at some point so that any of us that eventually sell them will look back decades from now and say "DOH! What an IDIOT I was for selling my CR-Z back then!" That's my story and I'm sticking to it! :pP:
Your right. What was I thinking? Sorry. :blush:
 
1 - 14 of 14 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top