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Old 13th July 2016, 20:37   #5401
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by VPSuchin View Post
I am aware of Home Equity loans but have not heard of an Auto Equity Loan till now. Unlike a House, a car is a depreciating asset so I don't know how well that might work out as a collateral. Looks like your car needs to be paid off though.

I found out that Wells Fargo has some gyan on Auto Equity Loan
DCU provides Auto equity loan if its financed through DCU or if the car is paid off or purchased cash down. One of my friend bought a car cash down and within a week financed it through DCU.
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Old 13th July 2016, 21:21   #5402
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by maddy42 View Post
Anyone has tried taking a loan on the cars equity? Like a personal loan but at the car loans rate of interest. DCU offers a fairly good service as well as rates.

Maddy
I had taken my auto loan from DCU; given my credit score, I got a 20k worth loan for 3 years at 1.24%. The least they charge is generally 1.74% but there was some offer going on and I qualified.

DCU also has this: for every three consecutive on-time payments, they'll reduce your APR by .25%; subject to a min. of 1.24%.

The only downside is that getting through to the operator is a challenge, the hold can last hours.

FYI: always take a loan from a Credit Union. The APR will always be lower than that offered by a bank, and the fees minimal.

Last edited by libranof1987 : 13th July 2016 at 21:46.
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Old 13th July 2016, 22:40   #5403
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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The only downside is that getting through to the operator is a challenge, the hold can last hours.
I guess I was lucky that they had a branch a mile down from office! I got direct line to the person who handled my loan.
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Old 14th July 2016, 01:00   #5404
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by rajushank84 View Post
This is America. We are always upside down on our loans, driving cars we can't really afford to own.

On that note, the new E class looks good..
Yup! I was falling for the STI but after doing this i guess i will own my Gen for 3 more years.

Quote:
Originally Posted by VPSuchin View Post
I am aware of Home Equity loans but have not heard of an Auto Equity Loan till now. Unlike a House, a car is a depreciating asset so I don't know how well that might work out as a collateral. Looks like your car needs to be paid off though.

I found out that Wells Fargo has some gyan on Auto Equity Loan
Its basically a car loan for a longer period of time. Instead of paying off the dealer, they give you the money.

Few things i noted while applying.
I began by applying for a Personal loan which had a interest of 10% and my approval amount was lower than what i needed. Thats when the agent recommended going for a auto equity loan. My car would have been paid off in 1.5 years, now i pay it off in 3.

Interest: 2.4% if you have a DCU checking account. Mind you, you can use any atm to withdraw cash and they will refund 5 bucks back to you.
Term can be anything upto 60 or 72 mos, but no prepayment penalty.
They do check NADA for the value of the car, it comes abou 15% higher than KBB.

The only thing which the lady recommended is do it in emergencies, not recommended if your going to take a trip with that cash

The amount was transferred in a day, now time to remember my user id and password for this account!

It is a good choice. Certainly gives a relief.

Maddy
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Old 14th July 2016, 01:34   #5405
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by maddy42 View Post
Its basically a car loan for a longer period of time. Instead of paying off the dealer, they give you the money.

Few things i noted while applying.
I began by applying for a Personal loan which had a interest of 10% and my approval amount was lower than what i needed. Thats when the agent recommended going for a auto equity loan. My car would have been paid off in 1.5 years, now i pay it off in 3.

Interest: 2.4% if you have a DCU checking account. Mind you, you can use any atm to withdraw cash and they will refund 5 bucks back to you.
Term can be anything upto 60 or 72 mos, but no prepayment penalty.
They do check NADA for the value of the car, it comes abou 15% higher than KBB.
Never knew DCU before. Thanks for sharing the information.
I took my car loan with CEFCU and they paid 100% of the car value @1.98% interest for a 2010 yr car. Awesome service and I've never waited in a line for more than 2 mins.

Last edited by Technocrat : 14th July 2016 at 19:20. Reason: Please quote selectively as a long quoted post causes inconvenience to our mobile readers, thanks
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Old 14th July 2016, 21:07   #5406
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by navin_bhp View Post
Never knew DCU before. Thanks for sharing the information.
I took my car loan with CEFCU and they paid 100% of the car value @1.98% interest for a 2010 yr car. Awesome service and I've never waited in a line for more than 2 mins.
Thanks, in some circles they are called "Desi credit union"(DCU).

Maddy
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Old 15th July 2016, 03:03   #5407
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

Hi there - Did you make a decision on the CX-5?

I recently moved to NJ/Jersey City and am in the same boat as you are. Would be interested in your experiences ...

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Thanks for the input. Your comments closely match the ranking in Consumer Reports website. See the screenshot below. I will take a TD for Forester and CX5.
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Old 15th July 2016, 03:05   #5408
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Originally Posted by pow3r2dawh33ls View Post
Hi there - Did you make a decision on the CX-5?

I recently moved to NJ/Jersey City and am in the same boat as you are. Would be interested in your experiences ...
Good timing. I am currently negotiating with a dealer for a CX5 GT with Tech package. Since the 2017 model is expected soon, I am expecting to get a good deal. Btw, I did TD of almost all the options in the price range and sort of narrowed down to Ford Escape and CX5. Mostly I will go for later, if I get good deal.

Last edited by vasoo : 15th July 2016 at 03:06.
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Old 15th July 2016, 03:12   #5409
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

That is exactly my shortlist!

Currently browsing inventory at dealers closeby - I gather out the door is around $29k for a GT with a sun / moonroof.

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Good timing. I am currently negotiating with a dealer for a CX5 GT with Tech package. Since the 2017 model is expected soon, I am expecting to get a good deal. Btw, I did TD of almost all the options in the price range and sort of narrowed down to Ford Escape and CX5. Mostly I will go for later, if I get good deal.
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Old 21st July 2016, 19:29   #5410
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Thumbs up Re: Buying, Owning, Driving and Maintaining a car in North America

2017 Ford Fusion Sport

If anyone's considering an American sleeper, this one looks to be a good choice. 325 HP, 380 Lb/ft turbo V6 with a possible 0-60 in the 5 second range, and to any passerby looks like a normal fusion (which has been getting good reviews for 2017).
Comes with Ford's Pothole detection, AWD only, 6 speed Automatic only.


Here's an article detailing the Sport model:
"But power isn't the Fusion Sport's only trump card – there's also the price. At just $34,350, it's a staggering performance bargain. It's not a BMW, but the starting figure is just a smidge more than the $34,145 320i – that's the base 180-hp model – and it's $12,445 less than the 340i. Things are even better when you start ticking option boxes, because a well-equipped Fusion Sport – navigation, adaptive cruise control, vented seats, 19-inch wheels, and dual-zone climate control – is available for less than $40,000 ($39,855, according to the online configurator). Now, let's not be silly – we don't realistically expect the Fusion Sport to match the 340i in every dynamic metric. But if all you care about is straight-line grunt (and that's probably enough for most Americans), the Ford is a hilarious bargain..."

Source:http://www.autoblog.com/2016/06/09/2...#slide-3763730


No reviews have been posted yet but inventory is already available.
Looks like dealers are giving big discounts on them as well. Saw this one Listed in Houston with over $3500 off the MSRP. IMO it is a great bargain sporty sedan.

Buying, Owning, Driving and Maintaining a car in North America-sam85741.jpg

Buying, Owning, Driving and Maintaining a car in North America-2017fordfusionsport0051.jpg

Buying, Owning, Driving and Maintaining a car in North America-2017fordfusionsport0081.jpg



Last edited by VPSuchin : 21st July 2016 at 19:30.
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Old 22nd July 2016, 02:10   #5411
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@VPSuchin : I am planning to test drive it this weekend. Not in the market but just to compare it to my STI.
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Old 22nd July 2016, 07:54   #5412
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Thumbs up Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by dr.abhijeet View Post
@VPSuchin : I am planning to test drive it this weekend. Not in the market but just to compare it to my STI.
Great!
Will be waiting for your review. I am sure the STI will blow it out of the water when it comes to handling due to that superior AWD system. But, it will be interesting to compare this against the German sport sedans, especially BMW and Audi
http://www.tflcar.com/2016/06/2017-f...t-at-bmw-audi/

This might become an underrated American-Alternative Value for money sleeper like the Chevy SS and the Taurus SHO
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Old 25th July 2016, 08:22   #5413
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Great!
Will be waiting for your review. I am sure the STI will blow it out of the water when it comes to handling due to that superior AWD system. But, it will be interesting to compare this against the German sport sedans, especially BMW and Audi
AWD has nothing to do with handling. Traction and power delivery, yes, but the only things that contribute to handling are the chassis and suspension and tyres. Though having power delivered to all four wheels increases straight-line traction, it does nothing to improve cornering or braking. The STi will be better because the chassis is stiffer, the suspension is tuned for cornering and the tyres are probably extreme performance summer and not cheap all-seasons. The performance may be better than the Fusion sport because it's a lighter car (by 300 lbs) and shaped differently (aero).

Just for math fun ->
STi power to weight = 305hp/3385lbs=0.09;
Fusion Sport power to weight = 325/3681lbs = 0.088
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Old 8th August 2016, 00:17   #5414
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

I recently relocated to Dallas Area from Bangalore and am in search of a used vehicle. With 2 kids we want a sub compact SUV not exceeding OTR 20k max, am looking both at interior features, looks, space and resale.

Shortlisted a 2013 Santa Fe Sport 2.0 Turbo with AWD, with premium package including full leather seats, single owner with 43k miles. I liked the car very much and the price is in my budget, the thing is resale worry, as everyone I talk to is asking to go for Toyota or Honda !!

I hate the CRV looks, can live with RAV 4 but somehow the fit and finish of Santa Fe is way better than that I saw in the Totoya. Listen to heart or mind, not sure how much will be resale difference say 2 yeas down the road.

Any advice will be appreciated from fellow members.
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Old 8th August 2016, 01:41   #5415
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by Avenger_123 View Post
I recently relocated to Dallas Area from Bangalore and am in search of a used vehicle. With 2 kids we want a sub compact SUV not exceeding OTR 20k max, am looking both at interior features, looks, space and resale.

Shortlisted a 2013 Santa Fe Sport 2.0 Turbo with AWD, with premium package including full leather seats, single owner with 43k miles. I liked the car very much and the price is in my budget, the thing is resale worry, as everyone I talk to is asking to go for Toyota or Honda !!

I hate the CRV looks, can live with RAV 4 but somehow the fit and finish of Santa Fe is way better than that I saw in the Totoya. Listen to heart or mind, not sure how much will be resale difference say 2 yeas down the road.

Any advice will be appreciated from fellow members.
My wife drives a 2010 Hyundai Santa Fe Limited (3.5 ltr V-6) that has all the bells & whistles such as leather seats, sunroof & a 11 speaker infinity sound system. She has put 43,000 kms in 6 years (bought it brand new in July 2010) & no problems so far. We have undertaken multiple long trips in it including one from Vancouver to San Francisco & it performed flawlessly. She likes everything about this car except for its ride quality, 2013 might be different animal though. She did test drive RAV 4 and CRV but settled for Santa Fe as we camp a lot & its boot was far bigger to accommodate our camping gear.

You may also want to have a look at Ford Edge also; I’m driving a 2013 & have put 89,000 clicks on the clock so far & couldn’t be happier. Much better ride quality & better fuel efficiency than my wife’s Santa Fe but as I said you’re considering a 2.0 ltr Turbo so it might be more fuel efficient than the 3.5 ltr V6 that my wife drives. By the way would you really a AWD vehicle in Dallas?

As far as Honda & Toyotas are concerned, these will always command a slightly higher resale value as compared to Hyundai however Hyundai has come a long way in last few years and that gap is very narrow now. Indians are obsessed with Honda & Toyota so I’m not surprised that everyone is recommending these. They have good reliability (not that Hyundais have any less) so nothing wrong there. I would suggest you drive all three & then make up your mind.

It is already a pre-owned vehicle so two years down the line it wouldn’t really make a difference from resale standpoint. Good luck!

Last edited by Vikram Arya : 8th August 2016 at 01:45.
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