Topic: 2022 Honda Civic

[dirtyjeffer]

Let's not get too carried away.    The finance rate is 5%.  But point taken.

my apologies, it's dropped since i last looked at it when it was 6.99% (although, now that i think about it, that was for 84 months).

Not doing the math on this but the cost between 0% and 5% over 5 years is substantial on a 40K-50K unit tax in.  And, YES, essentially all new vehicles are financed.  Even at 2%, one can earn more after tax in a Canadian Bank stock.  More if they have TFSA room.

i'll do it...let's split the difference and do $45k all in...at 0% (Ford), the payment is $625/month for 72 months...at 5.09% (Toyota), the payment is $726.60/month for 72 months...just over $100/month higher payment, for 72 months...total interest is $7315.35.

[dirtyjeffer]

All of their cars were mostly crap. Especially GM - every single time it seems they said "there, that will do" and left it. Such uninspiring mediocrity.

The Koreans, OTOH, are killing it in every segment they continue to be in. Especially their CUVs and SUVs. Their model caters to the new car sale, a vehicle for "now" and sales proves it.

Indeed. The only problem with the Korean cars now is depreciation. The resale is horrid.

the resale may be lower, but only lower than the typical leaders like Honda, Toyota and Subaru...as well, due to their low finance rates, their overall purchase costs are much lower as well, likely reducing that delta somewhat...my colleague just bought a new Ford Escape Hybrid Titanium...sure, lower resale than a RAV4 hybrid, but you have to wait 4 months (or more) for one of those and the finance rate is 0% for 72 months (Toyota is almost 7%)...so while the Toyota will be worth thousands more when you sell it, you paid thousands more for it in the first place.

But the Toyota is a better vehicle.

it is, but it's also considerably more expensive and you have to wait months to get one (hybrid)...i think the Escape gives them good value.

[dirtyjeffer]

It’s only more expensive if you can’t afford the cars in the first place. IE you’re financing over these long terms.

there was an article that came out maybe a year ago stating something like 80% are 72 months or longer...in some cases, it's not that people "can't afford" it, it simply because it maybe better to borrow at 0-2% and let your money earn you 8%+...but yes, i'm sure a lot of people take the longer terms (myself included), just to keep the payment to a minimum to provide for better cash flow if something changes down the road...this isn't the 70s anymore when people paid cash for cars or didn't buy a car...the auto industry would collapse if that was the case.

[Ontariodriver]

It’s only more expensive if you can’t afford the cars in the first place. IE you’re financing over these long terms.

there was an article that came out maybe a year ago stating something like 80% are 72 months or longer...in some cases, it's not that people "can't afford" it, it simply because it maybe better to borrow at 0-2% and let your money earn you 8%+...but yes, i'm sure a lot of people take the longer terms (myself included), just to keep the payment to a minimum to provide for better cash flow if something changes down the road...this isn't the 70s anymore when people paid cash for cars or didn't buy a car...the auto industry would collapse if that was the case.

Majority of people are buying cars they can't really afford, these loans pushing 8-10 years, you could end up owing, more than the car is worth, a lot of the time. Look at the average spend on a car, and what they make. The 70's, people had more money, wage disparity has been on the rise for over 30 years and so has the increase in super long car loans. Like I said before, cars are no longer sold on the final prices, but, on what cost per month. it's even down to bi-weekly. you don't even get to hear the monthly sometimes. I prefer to buying a cars for cash. I really like not having a monthly car payment of $450 bucks or more, for next 8 years.

https://www.youtube.com/watch?v=nRAJwaLV-iU

[PJungnitsch]

Not just cars, all kinds of things are payment based now. A lot of people are a paychq or two away from not being able to pay their bills

I've been on year to year contracts for the last 12 years, that kind of living would be way too stressful

[dkaz]

And here it is, the 2022 Civic Type R hatch.

[JohnnyMac]

And here it is, the 2022 Civic Type R hatch.

Like how is that a hatch?  Hate it when companies do the back hatch like it's a lift back and you lose so much utility.

[Seafoam]

 I see they couldn't resist keeping the spoiler. Looks okay otherwise.

[Scaerio]

Here's a red hot hatch for you boys...

[rrocket]

I'm in the minority probably...but I like the old boy racer one better.

[Seafoam]

I'm in the minority probably...but I like the old boy racer one better.

I like the previous generation too ,without the wing though.

[Gurgie]

Here's a red hot hatch for you boys...

 

[dirtyjeffer]

Here's a red hot hatch for you boys...

 

[david_mechanic]

Looks weird at first but I kinda like it. Waiting for prices and more details

[Ontariodriver]

Here is the 2022 Honda Civic, in the flesh, It's been leaked.

https://www.civic11forum.com/threads/2022-honda-civic-leaked.190/

[2JDM]

A more conservative look for sure, but aesthetically pleasing.

[EV Dan]

2.4L it would seem, and parking sensors. SI or a top trim? I think they found the current design too polarising...
I like it.

[Ontariodriver]

2.4L it would seem, and parking sensors. SI or a top trim? I think they found the current design too polarising...
I like it.

I agree, I found the previous dated very quickly and there was just too much fake plastic trim chrome at the front.

[OliverD]

Front looks like an Accord and the rear looks ultra generic.

[tortoise]

I think I might prefer the current generation. I'm not a fan of that Accord style nose.