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2013 and earlier-Honda Accord Prices Paid and Buying Experience

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Comments

  • mjk14mjk14 Posts: 12
    I myself have been looking into the sport in NJ and have found that they are somewhat limited in the lots. Anyway, I received prices from 22329 including destination up to 23400. Some offered flex cash others didn't. Also I was quoted with a doc fee of 350 in NJ. Not sure if others have received the same.

    Does anyone know if the current financing of 0.9 for 36 and 1.9 for 60 will lower after July 8 when it expires or will it stay the same. I cant imagine that the rate will increase being that the 2014's are coming in a few months.
  • mjk14mjk14 Posts: 12
    On July 8th I was told that the current financing offers will expire (0.9 for up to 36 months, 1.9 for up to 60 months). After this date does any have any insight into possible rates or what has happened previous years. I was thinking or at least hoping the 1.9 will be lowered to .9 for 60 months.
  • huskerfan5huskerfan5 Posts: 163
    Two things to predict. First, the credit markets around Jul 8 and Honda's marketing plans. At 1.9%, I would expect that Honda Finance is currently making money on five year money it acquires but I don't think that would be the case of at .9%, after all, the 5 yr Treasury rate is over 1%. Of course, the marketing department could believe that negative interest rate spreads would be offset by a significant sales increase. Bottom line, I'm not smart enough to predict and if I was, I'd be on the Rolls Royce forum :)
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,350
    We never knew!

    Honda never let us know until the day it happened. People would hold off buying with the hopes the low rates would continue or drop even further only to find out the programs ended.

    The difference between paying 1.9 % or .09% doesn't amount to squat when you get down to it. Not like buying a house with a 30 year loan.

    I remember every time I tried to guess or predict, I was usually wrong.
  • ohenryxohenryx Posts: 285
    to be more precise:

    1.9 % APR on $20,000 borrowed for 60 months will cost you $349.68 per month. Lower that to 0.9% and your monthly payment drops to $341.01. The difference is $8.67 per month, a total of $519.98 over the period of 60 months.

    I wouldn't make too big of a deal out of $8 per month on a new car purchase, but yes, every little bit helps.
  • blueiedgodblueiedgod Posts: 2,803
    I got option D. They all tried to give me 72 months. I had told them that I wanted that payment with 60 months financing.
    In the end, the paperwork said purchase price of 23,336, 1.9 financing for 60 months and $3000 for the trade in and a $500 down payment. IMO, they inflated the value on my trade in by 1000 to 1500.

    Was D not a good option either?


    Well, at least they didn't get you for the 72 month loan. :)

    If you are OK with paying $23,336 for it, then it is all that matters. Depending on where you live, most of the $3500 probably went to taxes and fees...

    You've got a great car. Enjoy it!
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,350
    8.67 a month...519.98 over five years?

    Yeah, I know to some people that could be a big deal, but suppose they changed the program and RAISED the 1.9 to 2.9?

    Could happen and I've SEEN that happen many times.

    People take these giveaway rates for granted and expect them to always continue or even get better and that doesn't always happen.

    That was my only point.
  • fields102fields102 Posts: 6
    I posted all the details on my purchase a couple of pages back. I arrived at my 385 monthly payment with a 22,400 purchase price, $2,000 trade in, $500 down payment, $80 dealer fee, financing rate of 1.9% and CA tax and fees. I didn't care if they played with the purchase price, trade in value and/or the financing rate to hit my $385 number.

    They jacked up my trade in value to make the deal. KBB was $1650. I did my research prior and didn't think I'd be able to sell it private party for more than $2,500(even that might have been too optimistic). I wasn't interested in trying to sell it on my own in order to reduce a variable in the car buying process.

    For my pilot i bought about a month ago, they gave me .9% financing on 60 months even though their program was .9 for 36 months and 1.9 for 60 months.
  • vadcvadc Posts: 8
    I would like to buy a Honda accord EXL or EX in northen virginia. Any suggestion, how much should I pay OTD? anyone bough recently? Thanks for your help
  • Suggest you go through internet department via cars.com and check off said dealership. You should get a reply from Brice.
  • ltlladyltllady Posts: 27
    An OTD price is not standard as it depends upon the registration fee and sales tax. As a buyer you should compare the price of the vehicle. Remember the only real fees you are required to pay are those imposed by the state such as registration and sales tax. Any other so called fee such as documentation fee or deal preparation fees are actually part of the selling price of the vehicle.

    Dealers try to separate these from the price to deceive buyers into believing they are paying less for the car. For example if you settle on a price of $20,000 and the dealer adds a $500 documentation fee the actual price of the vehicle is $20,500. Dealers use the term fee to make such charges seem legitimate.

    I have bought several Honda vehicles in the past few years in the DC area. I suggest you contact Pohanka, Criswell, Sport Honda via the internet and request pricing. Those dealerships have been very competitive and upfront with there pricing. Criswell has been very reasonable with trade values always offering KBB.

    Always a good idea to access the various Honda dealership websites to see which dealership has the largest inventory. Often times a higher inventory will result in a lower price. High volume dealerships often sell at a lower price.

    Go to True Car and get their target price. That target price is not the lowest but does provide the highest price you should pay. However, you should be able to negotiate a lower price. Do not access any dealer via True Car.

    To come up with a starting point for negotiations, go to Edmunds incentives and learn the Honda holdback and any incentives available to both you and the dealership. Take the invoice price for the vehicle, available on Edmunds and subtract the hold back and any incentives from that invoice price. That will provide a general idea of the likely cost of the vehicle to the dealership. Negotiate upwards from that number.

    I also suggest avoiding College Park Honda and Ourisman Honda as I have found those two dealerships seem to play too many games. I think it unlikely you will get the best price at these two dealerships.

    Also, in Maryland the dreaded dealer documentation fee is $200 while in Virginia it is $400 or more. While you should not pay that fee, which is really part of the vehicle price, if you buy in Virginia you should not pay more than the $200 Maryland dealers try to get a buyer to pay.

    Always good to remember you, as the buyer control the process not the dealer. You can walk and the dealer knows if you walk you will not be back. The pressure is all on the dealer as you can always go eleswhere to buy. Do not be afraid to use you best negotiation tool, your feet. If something does not feel right walk away.
  • What a great post! The only thing I would add is Truecar no longer includes the discounted vehicle pricing in its evaluation. The CEO made an agreement with the Dealerships so Truecar could make their $250 plus commission on each car sold - so as the post explains, don't go through Truecar (true rip off is what it is), but it does serve as a basis for a starting point. Typically on Honda's you should see at least a $ difference between The truecar price and what you get quoted from the dealerships via the internet. Finally, use those quotes as leverage with the other dealers in that Area.

    Criswell is outstanding, but Oursman could be a silent player if they haven't met their quota and don't play games with you. Many thanks to LTLLADY again, what a awesome post.
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,012
    edited June 2013
    Just to add onto last post if your buying.

    On doc fees

    Doc fee's.... very few dealers remove this charge, some may reduce them.
    always add your dealers doc fee's onto your asking price.

    Start your buying process the last days of any month with the price formula of,,, Invoice price, minus hold-back , incentives, minus doc fee's / prep fee's etc. As we get closer to Dec 2013.... Prices will and are ranging between 5/600 below invoice to almost 1500 on all accord models. Some area's are close to 1200 below right now.

    True car, Costco, E-price quotes are all good starting points but the real negotiations are done on the phone or in the showrooms at the end of the month.

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • sm31sm31 Posts: 2
    Short story:

    $21,300 (including destination) + TTL, SW Ohio.

    Long story:

    An interesting buying experience.

    Monday: not really in any big hurry, but just starting to zero in on options, with Accord Sport and Mazda 6 at top of the list. I stumble on TrueCar to see what it says about Accord pricing, and end up accidentally sending out requests for quotes from dealers.

    Not surprisingly, I immediately get calls and emails, which I either ignore, or explain that I'm not ready to buy, made a mistake, etc.

    But I notice one of the quotes is really good: $21,300. The sales guy also seems reasonable, and not too pushy.

    So I explain my situation and tell him that I still needed to test drive the cars, but I may be getting back to him in a few days.

    Thursday: test drive Honda, Mazda, and Kia Optima. I test drive the Honda at another dealer, which is closer to me.

    Friday: tough decision made to go with Accord. Now to close the deal.

    Dealer I test drove with sends me a "great" offer close to $23,000, which I tell him is way more than I'm looking to pay.

    I also get annoyed by his insistence I need to go with Honda financing, since I already told him I am preapproved with my local institution and not interested.

    Not only does he not accept my counter-offer; he doesn't even reply.

    Oh, and during the test drive, he had told me the splash guards installed on the car are a required $200 option (I don't mind paying for splash guards, but don't like being told I have no choice; also seems a little pricey).

    In parallel, I've gotten in touch with the original dealer with the low quote (who, all else equal, I would have gone with anyway), and we get transaction rolling, with zero hassle. Much more pleasant to deal with.

    I think we're almost done when I get a call back from the dealer that they had a miscommunication, and already sold the car to someone else.

    BUT, without hesitation they volunteer to get me another, which they do on Monday.

    Here's the kicker: it's the exact same car I test drove from the other dealer!

    Oh, and no, I didn't have to pay extra for the splash guards!

    Aside from the little problem, a smooth experience, and happy with the car, the dealer, and the price.
  • vadcvadc Posts: 8
    Thanks you ltllady and all, this is amazing and great help to start with. I will post as I talk to dealers and will seek help again. However, what a great start with help from you all, a great community give back.
  • Thanks to all for the help!
  • vadcvadc Posts: 8
    What is the correct invoice price? Costco says the invoice price is:
    $25,609 but in KBB it is $26,399 ( with destination fees). Which price should I consider as invoice price when I negotiate with the dealer?

    (To start with invoiuce -$1200) and pay max (Invoice -$600) + tax. Is it sound right/fair?
  • jatanjatan Posts: 92
    edited June 2013
    EXL $25609 + $790 dest = $26399 invoice (Costco shows the dest fee separately)

    Also take into consideration the doc fee -- if your state has laws to limit doc fees then you're fine ($80-200 is reasonable), but if your state lets dealers choose then they may offer a cheaper price but add a $400-600 doc fee

    Dealers should have plenty of EXL inventory so easier to negotiate on that model -- $800-1000 below invoice for car +dest + doc fee should be doable

    Check the last few pages on what other people paid at the end of May to get an idea
  • vadcvadc Posts: 8
    Thanks jatan.

    $800-1000 below invoice for car +dest + doc fee should be doable

    PLUS state Sales tax, correct?

    Thanks for all your help ...
  • jatanjatan Posts: 92
    $800-1000 below invoice just for the car w/ dest & doc fee -- plus tax/title/plates/any state or government fees that they normally charge. If the car has extra accessories (all season mats, trunk tray, mud flaps, etc) then you can negotiate prices on those since they'll want you to pay retail or find a car that's in stock without accessories added on

    You probably won't get the best price until the end of month, but start asking around now -- if a dealer has a slow week then they may offer you a deal just to get a sale (happened to me mid-month when I bought my Civic a little over 2 yrs ago)
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