Buy now at MSRP or wait for details on 2025

[Integra23]

I don't understand the automotive industry's current obsession with "primer grey".

I guess it has everything to do with consumer/marketing trends, but how uninspiring.

LOL not to mention that it cost most of us Canadians $1MM to live in a porta potty. Unless you can swing it, there is a small portion of canadians even concerned about auto ownership atm.

Lol. Just finance it.
I have seen the HGTV shows and it's crazy. Don't know how you swing home loans 10x + your income. Is financing different?

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[Ray92]

Lol. Just finance it.
I have seen the HGTV shows and it's crazy. Don't know how you swing home loans 10x + your income. Is financing different?

Not sure if we should laugh or cry. Probably the latter. Thats ok, our 50% tax rate on any decent income which lets us live in a shoebox goes towards our great "free" healthcare that only takes 12 hours to be seen in emergency, or months/years for critical surgeries! It's the best. I really don't know how people actually live day to day on average incomes here. I see individuals in the states complaining about 400K USD average priced detached homes. I think people here would go crazy for that. lol

Back to topic. I think with financing they just base it off your income and credit score... though I think paying 7.29% interest for a long term here, for an ITS would be beyond painful to see all those interest charges. 90k for an ITS, lol. Probably best to pay for the majority of the vehicle in cash unless some investment is pulling a greater return.

 

[SilverRocket]

Not sure if we should laugh or cry. Probably the latter. Thats ok, our 50% tax rate on any decent income which lets us live in a shoebox goes towards our great "free" healthcare that only takes 12 hours to be seen in emergency, or months/years for critical surgeries! It's the best. I really don't know how people actually live day to day on average incomes here. I see individuals in the states complaining about 400K USD average priced detached homes. I think people here would go crazy for that. lol

Back to topic. I think with financing they just base it off your income and credit score... though I think paying 7.29% interest for a long term here, for an ITS would be beyond painful to see all those interest charges. 90k for an ITS, lol. Probably best to pay for the majority of the vehicle in cash unless some investment is pulling a greater return.

Pretty much.

Here's my take on it and literally the money is where my mouth is, this is my own personal situation.

Out the door costs with all our lovely taxes and fees in La Belle Province was $69k CAD. I put down just over 20% and specifically played with the down payment amount to get a $400 bimonthly payment over 7 years at 7.29% with Honda Financing. If I didn't pay early by the end of 7 years I'd be looking at almost $16k in interest for a whopping total of $85k total cost to own.

However since it's an open loan I can make as many early payments as I want, if I pay off another $20k within the first two years which is feasible for me, and continue much smaller advancements thereafter, I can get as low as $4k in total interest. Realistically let's say $6k total which is what I'm targeting.

At the rate inflation is going, that $6k (10% of the value of the vehicle before tax) is a joke considering Acura already bumped the price up in the states $1kUSD, I expect much more base price increase over the next 4 years *at the current trajectory*. It's not that much of a stretch of the imagination and I fully expect that I'll be happy to pay the $6k interest to have locked in the price but time will tell.

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