Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier-Honda Accord Prices Paid and Buying Experience

1107110721074107610771570

Comments

  • mikefm58mikefm58 Posts: 2,882
    Negotiate on an OTD out the door price with the dealers, and let those details fall out wherever they want them.

    That's fine if that's all that matters to you, but you still have to be informed on how things like sales tax is calculated. I once traded in a leased Honda Odyssey that I was first purchasing as the trade in amount was more than the lease buyout amount. The dealer forgot to charge sales tax. I even questioned him on it before driving away. They called a few days later and refused to honor the negotiated OTD price as none of that was written in the purchase contract. The paper work you sign lists selling price, dealer fees, different state fees that all add up to an OTD price.

    There's also a clause in there that stipulates if the dealer miscalculates sales tax, they have the legal right to come after you. So legally they had me, but when I offered to return their "new" Accord, now with a few hundred miles, they relented.
  • szerszer Posts: 80
    Alright guys I just submitted my $500 refundable deposit and collecting my Silver 09 Accord on Monday. no financing involved, also no trade in involved.

    Sale price: $27,561.26
    Doc fee: $150
    Tax (7% IN): $1,939.78
    IL 7 day permit: $10
    Total : $29,661.04

    This is the best deal that I can get so far and I'm happy with it. I know that this deal is ~$100 lower than the earlier quote, but the earlier quote "was a mistake" according to the earlier dealership, claiming that they forgot to add the destination fee. Boooo at bait and switch
  • does anyone know what the rebate/incentive situation is going to be for november?
  • szerszer Posts: 80
    I don't think there will be any change from rebate/ incentive for the 09. For the 08, probably it will still be a $500 rebate. Even for the 08 CRV, and civic, there is still no cash rebate available.
  • I hope they more incentives for the 08's. I was quoted 23,500 + TTL for the 08 EX-L Couple (auto tranny). maybe I'll just try to negotiate bluetooth and tint and just snag that one.
  • You got a nice deal paying in cash!
  • szerszer Posts: 80
    Yeah... I guess the dealer earned $150 from the doc fee though, but I don't really care as long as they stuck true to their quote.
  • I went into the dealership and was offered the following deal:

    2008 Accord LX-P Lease $1000 down and $450 per month for 48 months

    I'm trading in a 2002 BMW with 71000 miles which I'm upside down on by about $2500-3000. They're going to take the BMW and put me in a lease with an option to buy. I'm not familiar with this "lease option to buy" stuff so I don't know if this is a good deal or not. I'm looking to get something reliable and with reasonable maintenance cost, but I don't want to end up being upside down again with this car.

    Please tell me what you think? Are there question you can suggest that I ask? When I got home I realized that I was so focused on the down payment and the monthly payment, that I never found out what the actual total cost of the car will be. I assume this would be important especially if I decide to buy it at the end of the lease.

    I did get the feeling that I could negotiate something better, but just wanted to get some input.

    Thanks in advance for your help!
  • I guess the details would help here. on its face, that seems kind of high for an lx-p to me, but it really depends on the terms (I know two people who have luxury cars...benz and lexus, and they both pay less than that after applying your approximate net down payment [negative equity + down payment] ). you can plug in the numbers for yourself here:

    lease calculator

    I just started looking around myself, so I hope someone can chime in if I am off base.
  • rm_1rm_1 Posts: 2
    I was wondering if this is a good deal. The certified Accord EX-L has 36K miles and the dealer is offering it for $16.5K, not including taxes. It seems like because of the economy, cars are selling far below the book prices and so I don't feel like this is necessarily a steal. A few months ago maybe it was a steal, but I'm not so sure it is today. For those recent buyers, what are the prices some of you are buying '06 4dr EX-Ls? Also, what are some fees, tax policies/ambiguity, etc that I should be aware of before I agree to a deal? Thanks! All of your posts are extremely helpful.
  • mikefm58mikefm58 Posts: 2,882
    I've leased one vehicle in my lifetime and compared to simply buying a vehicle it is so much more complex trying to negotiate and figure out what a good deal is. Every lease has an option to buy at lease end, so they didn't give you anything special.

    Your lease payments total $21600 which is more than Edmunds TMV for that vehicle for an out right purchase. How did you expect not to be upside down on a new vehicle when you were already upside down on your trade by 2500-3000? That just doesn't disappear. Unless you put up a sizeable down payment in either cash or a trade with positive equity you will always be upside down to start.

    Maybe others have a different opinion than myself, but I think your salesman "clubbed you like a baby seal".
  • to look at it another way, if you were to by it outright with the same factors:

    sale price: 16.5
    down payment: 1k
    amount owed on prior car: 3k
    loan term: 48 months
    loan rate: 8.09 (edmunds defaulted to this...you can likely do better)
    estimated tax and title: 1073+248

    payment: $484. if the loan rate is lowered to 3.9, the payment goes to $439. it's like the salesman gave you a lease price with no residual.
  • sale price: 16.5

    16.5 for a LX-P? Can I get this for purchase as well? If yes, where?
  • I'm sorry, I read posts 2279 and 2281 as from the same person. I guess that will teach me to post as soon as I wake up. those numbers I posted are wrong (please delete if possible?). hooplvr: if you post the specifics of the deal, I'm sure some of the people who are knowledgeable about the subject will chime in.
  • jhinscjhinsc Posts: 397
    2008 Accord LX-P Lease $1000 down and $450 per month for 48 months

    I'm trading in a 2002 BMW with 71000 miles which I'm upside down on by about $2500-3000. .....


    You would be better off paying off your upside down amount, then go into a lease with $0 down. My local dealer is offering $0 down and $299/mo for the LX, so the LX-P shouldn't be much higher. I got my 08 EX-L V6 with $0 down and $359/mo. Good luck to you.
  • I've leased one vehicle in my lifetime and compared to simply buying a vehicle it is so much more complex trying to negotiate and figure out what a good deal is.

    Leases are not more complex then a purchase. On a purchase you have two factors, price and interest rate. On a lease you have three factors, purchase price, interest rate, and residual. The same thing that makes a purchase a good deal is what makes a lease a good deal, what is the selling price of a car?
  • Well i got a brand new accord EX-L v6 for 25k! The tag was 30k but i bargained real hard!!
  • jhinsc:

    Could you post the specifics of yourr lease; M.F., msrp, cap costs, costs added into the lease and the terms of your lease. BTW, does dealer add the extra costs (dealers fes, etc) back into the lease when there is a $0.00 down lease, which will then be added to the cap costs over the lease term.

    I am in the market for the same car and my credit is 720 score. I am using leasing guide.com to help with the payment calculation

    Thank you,
  • mikefm58mikefm58 Posts: 2,882
    Leases are not more complex then a purchase. On a purchase you have two factors, price and interest rate. On a lease you have three factors, purchase price, interest rate, and residual. The same thing that makes a purchase a good deal is what makes a lease a good deal, what is the selling price of a car?

    What about residual value, miles allowed per year, drop off charges (if any), excessive wear and tear charges (always subjective), acquisition fee, etc, etc, etc. And how many people know that interest rate = money factor?
Sign In or Register to comment.