Better Deal On My Car Note

Great morning everyone, Happy Thursday! I hope this message finds everyone well!
I would like to know HOW I can get a much BETTER deal on my financed car. I would love for any Acura Sales Rep in the NJ area to tell me the Money factor, residual, and loyalty credits (if any) for my vehicle.

I have a 2021 Acura RDX A-Spec. I am currently paying $852/mo and my finance deal is for 72 months. Acura Reps in the NJ area please respond to this thread with information on how I can get a much better deal. My credit score is in the 800’s by the way. I look forward to hearing back from you all!


I’m not a finance expert at all, but this looks like you’ve financed the car to purchase it, or are you leasing it? The “money factor” and “residual” sound like lease terms, but the 72 months and over $800/month payment seem more in line with a financed purchase. If it’s a financed purchase where you own the car once all the payments are made, you might check with your bank and see if they’ll refinance it at a lower percentage rate than where you have the loan now (Acura, I’m assuming).

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Financing a car for six years means throwing away a lot of interest. If you want to save money, you should be sticking with a shorter term. (If you can’t afford that, then you should have bought a less expensive car.)

Also, with that term, your loan is likely to be upside-down for a while. That’s generally not a good situation.


Acura reps don’t hang around on this forum as far as I know. None of the regulars here have ever said they were employed by an Acura dealer.

You would be FAR better off talking to your local bank, or better yet, credit union about refinancing your loan. Your interest rate on this loan should be clearly displayed on the paperwork you signed. If you can’t find it, the bank or credit union can.


Even if someone who works for Acura they can’t help you . As said you need to talk to a bank or your Credit Union . I would be surprised if you got a lower interest as this is now a used vehicle.

I don’t mean to be flippant but the way to get a better deal on car financing is not to commit to paying $852/month for the next 6 years. It’s hindsight now but a larger down payment would have lowered your payment from the beginning.

At this point you may be stuck for a few years. Interest rates are higher now than they were 2 years ago, and the value of the car is likely less than what you owe on it. In a few years you may be able to refinance to a lower payment with another 6 year loan, but then you will be in the position of owing money on an 8 year old car.

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Acura rates are set by Honda. They have always been in the 2-3% range. If you have an offer from someone else such as a credit union, Honda will match that offer. At least in Minneapolis they did for me. Times are changing and rates will be skyrocketing so grab what you can now. Over the past 50 years I’ve paid from 2% to 18%. You get the best deal you can when you have to have a car. Yeah the 18% was during Jimmy’s reign.

You can check, but rates are going up and I doubt that you can find a better rate now. If you can, you overpaid to begin with.

Got 3.6 % rate from my credit union on a used 3 year old car.

By “Better Deal” do you mean a lower interest rate or lower total interest cost or lower monthly payment?
Since you didn’t supply your interest rate or your amount financed (which would allow us to calculate the interest you’re paying), there’s no way to answer.

The solution is to make an appointment to talk to a bank or credit union to discuss your options.

Credit unions often give better rates, but like @jtsanders said, interest rates are due to go up (not by much, but more than they were when you got the loan) so the likelihood of you getting a better rate is somewhat low.

You can, of course, get the equivalent of a better rate if you pay the loan off early. That might require giving up expensive dinners out or vacations, or at least moderating them for awhile, but if you’re really set on spending less over the course of the loan, it’s probably the best option.

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You don’t give enough information to answer the question. You don’t say the price you paid for the car, the amount of money you put down or trade in value. Did you pay the sales tax or roll it into the loan? Did you have a previous loan you did not pay off but rolled into this one? Is an extended warranty part of the $852

No one expects you to answer these questions on this forum, but you should be aware that all these affect the answer to your question.

Unless a manufacturer gives financing deals to sell slow moving model, the dealer is seldom the best place to borrow the money and you are not going to get those deals because they already sold you the car.

The only time I financed a car from a dealer or manufacturer was to get a $5000 rebate on a $19000 car from Chrysler Financial. I was omly required to finance $5000 of the payment and I paid it off before I got the payment book. It cost me $12 in interest.

I have not financed a car otherwise in many, many years but when I did, I got the best deals at banks I already had an account at or one time from my car insurance company.

Results will vary as they say. The bank’s normal rates were always 11% (this is going back to the 70’s). Then it was 18% during the crazy years. Then GMAC in 86 was 7 1/2 in comparison. Later on Credit union was 3 1/2, and Acura has been 2 or 3%. 81 was the last time I went to the bank. Credit Union or MFG. Houses same way. 9% to 5% to 3%. These days are coming to a screeching halt though I think.

We’ve had the discussion before though on paying cash. Last year our mutuals gained 27% so makes no sense to pay cash. OTOH our cemetery just renewed a CD. Went from 2% down to .4%. So just depends on where the money is on balance.

What is your goal? If your credit score was in the 800’s to begin with then you likely got the best interest rate available when you bought the car.

You probably won’t get that here. I don’t think we have any reps for any car company that post here. Also money factor and residuals are only factors in leasing. If you’re buying/financing a car they are irrelevant.

How much over sticker did you pay? That trim level tops out at around $52k. You’re set to pay over $61k, and you should’ve been able to get a good interest rate give your credit score. This doesn’t really add up. Were you upside down in your previous vehicle or did you say yes to every add-on in the F&I office?

The thing is if, you already got a good interest rate, but negotiated poorly/not at all and/or paid ADP, then that’s a done deal, and they aren’t going change it at this point. You’d have to sell the vehicle yourself and hope you can get enough to pay off everything you agreed to at the dealership when you bought the car.


Plus, once the deal is struck, any financial issues are handled by the finance department, not the sales person. And if it’s a loan, not a lease, it’s probably not even handled by the dealership’s finance people, because they often are just brokering loans for a bank.

You meant to type Gerald, but that’s okay.