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Acura ILX
Exterior“Sporty, aerodynamic exterior”
Exterior
Interior
New Car
New car — Features
2018 Acura ILX Sedan● FWD & 2.4L● Technology Plus Package● MPG: 25 city, 35 hwy● Automatic transmission● Auto-dimming rearview mirror● HomeLink (garage door
transmitter)● Beverage holders, A/C● Illuminated entry; speed control
● Distance pacing cruise control● Power windows & seats● Remote keyless entry● Emergency communication sys● Navigation system● Power moonroof● AcuraLink & Bluetooth● AM/FM radio: SiriusXM● 10 speakers; 15 GB memory● Leather
New car — Features
2018 Acura ILX Sedan● FWD & 2.4L● Technology Plus Package● MPG: 25 city, 35 hwy● Automatic transmission● Auto-dimming rearview mirror● HomeLink (garage door
transmitter)● Beverage holders, A/C● Illuminated entry; speed control
● Distance pacing cruise control● Power windows & seats● Remote keyless entry● Emergency communication sys● Navigation system● Power moonroof● AcuraLink & Bluetooth● AM/FM radio + SiriusXM● 10 speakers; 15 GB memory● Leather
New car — Expenses● Purchase price (MSRP): $34,095● Registration fees & taxes: $3,079
Total price: Purchase + Fees = $37,174
● Down payment: $5,000● Loan principal: Total - Down = $32,174● APR for 650-699 FICO score: 7.66%● Time: 5 years
Monthly Payment: $647.15
New car — ExpensesTotal price: Purchase + Fees = $37,174
● Down payment: $5,000● Loan principal: Total price - Down = $32,174
Monthly payment: $647.15 (annual = 647.15*12 = $7,765.80)
EXPENSES:
Total payment: Down + Monthly*(time in months) = $43,829Finance charge: Total payment - Total price = $6,655
$38,829
(Let x = # of years)
New car — DEPRECIATION
Value decreases
Bought at MSRP
New Car — E(x) & D(x)Intersect: (2.83, 26996.72)Value = Paymentsafter 2.83 years &at $26,996.72
If I sell at D(x) = E(x),I’d still owe:$43,829 - $26,996.72= $16,292.28
Total expenses at end of 5yr loan: $43,829
paymen
ts
value
Used Car
similar features to new car
Used car — Expenses● Purchase price (MSRP): $18,943● Registration fees & taxes: $1,332
Total price: Purchase + Fees = $20,275
● Down payment: $5,000● Loan principal: Total - Down = $15,275● APR for 650-699 FICO score: 6.35%● Time: 5 years
Monthly Payment: $297.80
Used car — ExpensesTotal price: Purchase + Fees = $20,275
● Down payment: $5,000● Loan principal: Total price - Down = $15,275
Monthly payment: $297.80 (annual = 297.80*12 = $3,573.60)
EXPENSES:
Total payment: Down + Monthly*(time in months) = $22,868Finance charge: Total payment - Total price = $2,593
$17,868
(Let x = # of years)
Used car — DEPRECIATION
Initial miles:32,208
Value decreases
Nice deal
Used Car — E(x) & D(x)Intersect: (3.68, 18143.96)Value = Paymentsafter 3.68 years &at $18,143.96
If I sell at D(x) = E(x),I’d still owe:$22,868 - $18,143.96= $4,724.04
Total expenses at end of 5yr loan: $22,868
payments
value
SuggestionS Buy USED! Here’s why:
It costs MUCH less (~45%)$37,174 VS $20,275
Suggestions
Monthly payment
Meaning:
$297.80 < $647.15
Owed $ after D(x) = E(x) $4,724.04 < $16,292.28
Suggestions
payments
value
Payments: $43,829
paymen
ts
value
Payments: $22,868
Value: $17,212
Value: $23,627.58
Net loss: $20,201.42
NEW USED
Net loss: $5,656
Sources & Image Credits● https://www.credit.com/loans/auto-loans/● https://www.dmv.ca.gov/portal/dmv/detail/portal/feecalculatorweb● https://www.elkgroveacura.com/new/Acura/2018-Acura-ILX-915f
e7f60a0e0adf5ba43892777cc87d.htm● https://www.acuraoffayetteville.com/acura-ilx-interior/● http://acurasuggestions.com/2018-acura-ilx-concept-and-review/● https://www.acuranorthscottsdale.com/2018-acura-ilx-exterior/● https://www.losgatosacura.com/acura-ilx-exterior/● https://www.nadaguides.com/Cars/Acura/ILX● https://www.desmos.com/calculator
Th nk You!