Couple of questions for guys who traded in Si for Type R

[aldo]

im looking to buy a Type R I have a 2018 Si with 10k miles for the guys who traded in their Si for Type R, what kind of money did you get for the Si and what loan interest rate did you get? If you like to keep it confidential please pm me thanks!

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[davemarco]

I got ~$19K for my '17 SI with about 19K miles. I feel like I got low balled on the trade by about $500-$1K, but I let it go because I was paying MSRP for a '19 Type R. I have a credit score of 820 and got saddled with (what I think is) a ridiculously high rate of 4%. I'll probably refinance that ASAP.

 

[aldo]

I got ~$19K for my '17 SI with about 19K miles. I feel like I got low balled on the trade by about $500-$1K, but I let it go because I was paying MSRP for a '19 Type R. I have a credit score of 820 and got saddled with (what I think is) a ridiculously high rate of 4%. I'll probably refinance that ASAP.

Thanks man appreciate that information, anyone else out there trade their Si for Type R?

 

[Harlaquin]

I did as well i traded a 15 Si i got 17k for trade but i had damage to the car and 26k miles. I paid msrp for R. My interest is 3.Something cant remember.

But really cant go off what we got. Trade ins are based partialy on where you are in country and how many are available there. Your credit score, age blah blah. The dealer. Tons of variables. When R first came out didnt matter if you were god you were getting 4.9 interest through dealers. Rarer cars they stick it too you.

 

[aldo]

I did as well i traded a 15 Si i got 17k for trade but i had damage to the car and 26k miles. I paid msrp for R. My interest is 3.Something cant remember.

But really cant go off what we got. Trade ins are based partialy on where you are in country and how many are available there. Your credit score, age blah blah. The dealer. Tons of variables. When R first came out didnt matter if you were god you were getting 4.9 interest through dealers. Rarer cars they stick it too you.

Thanks again, I’m getting a basic idea here where I should be, I’m guessing for my 2018 Si Coupe with 10k miles maybe $20K and the interest rate should run no more than 4%, this gives me a basic idea thanks again. I guess I can also look at trade in values from KBB and Edmunds, and also ask the dealership specifically what their rate would be.

 

[Harlaquin]

Thanks again, I’m getting a basic idea here where I should be, I’m guessing for my 2018 Si Coupe with 10k miles maybe $20K and the interest rate should run no more than 4%, this gives me a basic idea thanks again. I guess I can also look at trade in values from KBB and Edmunds, and also ask the dealership specifically what their rate would be.

Not sure youll get 20k trade. I can go right now to my local honda dealer and get an 19 Si for 21,900. I would say you'll get 18 maybe 19.
Back in 15 my Si was 26k on lot I bought for 20,500. They discount them a lot. And the tricky bastards can look up what you paid from your vin somehow. They did me on several cars i refused to tell them what i paid. They went back and in like 10 mins they knew what I paid.

 

[aldo]

Not sure youll get 20k trade. I can go right now to my local honda dealer and get an 19 Si for 21,900. I would say you'll get 18 maybe 19.
Back in 15 my Si was 26k on lot I bought for 20,500. They discount them a lot. And the tricky bastards can look up what you paid from your vin somehow. They did me on several cars i refused to tell them what i paid. They went back and in like 10 mins they knew what I paid.

I just checked the trade in value on my car, mileage, my area, KBB and Edmunds both coming in at $20K so I’m gonna stick with that number, of course you never know what deal you’ll get but that’s the bar.

 

[Harlaquin]

I just checked the trade in value on my car, mileage, my area, KBB and Edmunds both coming in at $20K so I’m gonna stick with that number, of course you never know what deal you’ll get but that’s the bar.

You know dealers dont go by kbb. Are not gonna do same condition you say your car is. And the books they use are lower. Ill bet 19k tops is what they will offer. They dont have the room on Rs so they short the trades. Mark my words.

 

[aldo]

You know dealers dont go by kbb. Are not gonna do same condition you say your car is. And the books they use are lower. Ill bet 19k tops is what they will offer. They dont have the room on Rs so they short the trades. Mark my words.

Maybe, we’ll see what happens.

 

[Drew03]

4% is basically the starting rate currently (maybe 3.99%) It’s much more regulated by the Fed Reserve and how the overall GDP/Stock Market is doing. Then it begins to factor in your own personal peramiters.

I went to buy my Type R with 3 cars with originally financed at over 30K done and paid off on my credit report. I have a credit history of 18 years. I have 1 credit card with less than a $1,000 balance and zero debt of any kind anywhere else. When Honda ran my credit it came back at 848. Literally 2 points from a perfect 850. They tried to lock me into Honda Finacing at 4.54% and I laughed and handed them my pre-approved 4.19% from Capital One and they countered with Honda Finacing at 4.15% and I accepted.

My point is don’t be too cocky. Don’t think it should never be above 4%. Because my last car I bought in 2013 I had way less credit history and tons of debt and I was locked in at 2.25% and now I can’t even sniff anything in the 2% financing range. Just don’t be shocked if a 5% number comes your way and you’ve already locked yourself into “nothing above 4% will be acceptable!”

 

[aldo]

4% is basically the starting rate currently (maybe 3.99%) It’s much more regulated by the Fed Reserve and how the overall GDP/Stock Market is doing. Then it begins to factor in your own personal peramiters.

I went to buy my Type R with 3 cars with originally financed at over 30K done and paid off on my credit report. I have a credit history of 18 years. I have 1 credit card with less than a $1,000 balance and zero debt of any kind anywhere else. When Honda ran my credit it came back at 848. Literally 2 points from a perfect 850. They tried to lock me into Honda Finacing at 4.54% and I laughed and handed them my pre-approved 4.19% from Capital One and they countered with Honda Finacing at 4.15% and I accepted.

My point is don’t be too cocky. Don’t think it should never be above 4%. Because my last car I bought in 2013 I had way less credit history and tons of debt and I was locked in at 2.25% and now I can’t even sniff anything in the 2% financing range. Just don’t be shocked if a 5% number comes your way and you’ve already locked yourself into “nothing above 4% will be acceptable!”

I appreciate all the advice, I’m starting to like my $23K 2018 Si at 1.5% interest rate more and more lol

 

[Drew03]

I appreciate all the advice, I’m starting to like my $23K 2018 Si at 1.5% interest rate more and more lol

Omg that’s awesome! Good for you dude. I would probably own 6-10 cars on lien if I knew I could get them all at 1.5% APR lol

 

[Harlaquin]

Maybe, we’ll see what happens.

Not trying to down play ya. Hope you get what ya want. But dont let 1k stop ya from this car. Let us know. Hope ya get it

 

[Harlaquin]

I appreciate all the advice, I’m starting to like my $23K 2018 Si at 1.5% interest rate more and more lol

My Si was 1 percent. Still traded it. The R is worth it.

 

[davemarco]

I appreciate all the advice, I’m starting to like my $23K 2018 Si at 1.5% interest rate more and more lol

There is no universe in which a Type R is the best financial decision. You only get one because you want one - that's it. I had <$9K left on my '17 SI, and my monthly payment was insanely low. I don't regret upgrading for a second though. I had the money for the R, it didn't impact my overall savings, and there's always the possibility that tomorrow I might drop dead. If that should happen, knowing that I got to own and drive the car I really wanted means I'll have one less regret.

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