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2013 and earlier-Honda Accord Prices Paid and Buying Experience

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Comments

  • oojasoojas Posts: 6
    hey please tell me if this is a good deal and what should i watch out for tomorrow ( i met with the dealer today, they gave me form that had break down of all the fees). Tomorrow i am going in to sign the deal

    the dealer called the manager who told me that he will run to his boss to discuss the numbers i was quoting them. Manager said that this was ridiculously low number and he will do it only if i give him my credit card to show that i am a serious buyer blah blah blah

    36 month lease
    12,000 miles
    state tax % 855.75
    msrp: 26 195
    negotiated price 24,500
    dmv fees 275
    bank acquisition fee 795

    they charged my credit for 500 as a deposit. i knew i should not have let them do it, i gave them my AMEX, i hope i could dispute it in case they try to pull anything

    please tell me what you think about this deal, If i dont like something in the contract tomorrow whats the best way to make them return $500

    thanks
  • ltlladyltllady Posts: 27
    If this is a 2013, the price does not seem great. It is certainly not a ridiculously low price.

    One cannot judge a lease unless one has the money factor and residual value. The money factor can be converted to the interest rate by MF X 2400.

    There is rarely a need to give a dealer a deposit. Certainly not without a written document assuring the deposit will be returned if the vehicle is not purchased.

    When leasing a vehicle it is not a good idea to put any money down on the lease. All that should be paid is the first month's lease payment.

    On a lease it is important to note if the actual lease includes GAP coverage. Acura does but I am not sure about Honda. If not it is usually better to buy such coverage from your insurance company if it is offered as dealers charge a grossly overpriced amount for GAP.
  • ken117ken117 Posts: 179
    Edmunds TMV is $23,999. Obviously a price of $24,500 is not low. Personally I would request any lease be computed using the $23,999 or less as the capitalized cost.

    Honda has a lease deal on this vehicle with $0 down and 12,000 miles a year for $310. Check Edmunds incentives tab.

    Regarding the salesman's use of the phrase "ridiculously low number," always remember it is never wise to believe anything a sales person says. A sales person is not you friend. Their sole job is to sell you a vehicle at the highest possible price. That is obviously not your objective.
  • oojasoojas Posts: 6
    i requested to have 245000 including the destination charge, I am yet to meet with their finance person and i am sure i will get a lot of surprises. I have no problem leaving dealership, but they got me on their playground so far with that 500 credit card charge
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,039
    edited July 2013
    Close your eyes take a deep breath and pray you have no more surprises in finance rm. Let this be a lesson learned.. Never, Never give a deposit that is not refundable or buy/ lease a vehicle where you have No written proof that this is the Sale price, and total OTD numbers to buy/ lease.

    Make sure you have the right residual/ Money factor and Cap cost before you go into dealership. Call your ins. and find out what gap ins. is on your model just incase honda's lease does not cover it.

    One last tip
    look over your lease and buyers order make sure dealer did not add your flex cash incentive money to the sale price of your vehicle to get you to that $24,500 number. You will see a 500 or 750 minus charge on that bill. Of coarse now that dealer has your deposit and you did not inquiry about flex cash first your not going to get it.
    IF LIKE I SAID ITS ON YOUR BILL... Tell dealer that money is to be applied to your sale price of $24,500 or you walk.

    Good luck

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

  • huskerfan5huskerfan5 Posts: 163
    If your lease is with Honda Finance, it would include GAP insurance but the Honda Finance fee is $595, not $795, so the dealer is either marking up the fee or is using a third party leasing company the charges a higher fee. Stay away from third party leasing companies and if they tell you it is Honda Finance, ask them why they are marking the fee up. That will put them on the defensive.
    Doesn't seem you have reviewed recent posts regarding what people have been paying for the EX. The more you know, the more confident you can be in your negotiations.
    Without any signed documents, you will get your credit card deposit back. If the dealer won't (and I'm sure he will), the bank will. In fact even if you signed something, until you execute the actual lease agreement, I would expect you to get your money back.
  • usmcddvusmcddv Posts: 1
    OK, guys thanks for all the pointers and help during this process. I think I got an excellent deal in Virginia. here is the breakdown:

    Price: $27142 includes destination fees and taxes
    Registration, Tags and fees: About $150
    Dealer Transaction fee: (whatever the thing is where they get you over a barrel) $499
    Honda Finance Cash: -$500 (a credit for a 10k financing agreement at .9 able to pay off in 3 months)

    Price on fully loaded 2013 4 Cyl. EX-L with navigation and appearance package (wheel locks, trunk tray, mud flaps and some other stuff)

    $27, 290 OTD
  • dclivedclive Posts: 35
    edited July 2013
    OTD doesn't tell anyone (unless they're in your state) anything.

    What did you pay for the actual car, including the car, the destination delivery fee, any dealership-specific fees, and absolutely nothing else?

    In other words, take that $27142, add $499 dealership "fee" for the privilege of selling you a car, then remove any taxes and state-related fees. That's the real price of the car your dealership sold to you.

    And list out the "other stuff" you got. People price comparing would like to know.
  • guptas4guptas4 Posts: 2
    I ended up paying 24573+ 790 Dest Fee = 25463 + NJ Tax, 299 Doc Fee + NJ Registration 296 + Tire Fee etc OTD for $27750

    The dealer had me get AHM financing and this deal involves getting $500 back from AHM

    Not sure how good or bad this deal is but I only had the saturday to buy the car.

    comments?
  • juliankryejuliankrye Posts: 51
    Which dealer was this if you don't mind me asking? thanks Julian
  • earlecearlec Posts: 5
    edited July 2013
    Edmunds TMV has 2013 Accord EX-L (NO nav.) for $26,715. I've just started shopping last week with a probable purchase late Aug or late Sept. First saw the Sport model at the dealer and got an initial quote on that of $23,682. We never went further as I was not buying at the time. The salesman did mention that the EX-L came in the forward collision warning and lane watch along with leather and moon roof. That sold the wife. Sent out requests for quotes via e-mail. So far four have come back anywhere from $24,187 to $24,760 (all w/o tax and tags). My questions are 1) Approx how much more negotiating room will I have on the lower quotes? 2) How will I know ahead of time if the dealer has any un advertised incentives that I could work into the deal in my favor? I would prefer to deal via e-mail and go face to face only when it's buy time which will be at the end of the month. I'm thinking $800 under invoice is a good bottom line. I'm insisting on an out the door price and will walk if any finance guy tries to sandbag me with b.s add on's. This my first time at this for a new car - am I on the right track? ANY help would be appreciated!
  • guptas4guptas4 Posts: 2
    Julian - it was Autosport Honda in Bridgewater NJ
  • karhill1karhill1 Posts: 98
    The Edmunds TMV is an average price. TMV should, IMHO, be viewed as a maximum. Since average, by definition, means half buyers paid less it makes sense to be in the half that pays less.

    Also go to True Car and get their target price. That price is also overstated but gives you another bit of information. At a minimum the TC price is overstated by $300 which is the fee dealers pay to TC for each sale.

    A good method to develop a price goal is to take the invoice price, reduced by the dealer holdback, available on Edmunds, then reduced by any customer cash or dealer cash, also available on Edmunds. That gives you a reasonable estimate of the dealer cost. I say reasonable because there are often additional incentives for the dealer which are very difficult to obtain.

    Work your deal up from that number not down from the dealer's number.

    In the F&I office it is often advisable to let the dealer offer financing, provided you have obtain actual financing information from your bank or credit union. Dealers can sometimes beat that financing. It is usually smart to take any OEM financing if available.

    In the F&I office, just say NO to any product offered. All, including the extended service contract, are vastly overpriced and represent a significant profit source for the dealer. Profit for the dealer means cost to you.

    You can work with dealers using email. However, the best deals will almost always be attained via a face to face negotiation session. Use the internet to identify dealers who have embraced the internet. Avoid any dealer who refuses to provide a price.

    When you get to the dealer tell them your price. There is no need to play games, that just wastes time. Present your price, if it is reasonable they will negotiate something close to that number. If not, they will come back with a much higher price. At that point you need to decide if your price is too low or if you would be better served looking elsehwere.

    In a car negotiation a buyers most valuable tool is their feet. At any time simply say thanks and walk away. At that point you will learn if your price is reasonale or if the dealer will deal. No dealer will let you walk if your price is reasonable. They know if you leave you will most likely not be back.
  • karhill1karhill1 Posts: 98
    There really is never a good reason to put a deposit down for a vehicle. There is no law or regulation requiring a deposit. Dealers try to get buyers to place a deposit because they feel it places more pressure on the buyer to buy the vehicle.

    When buying a car it is important to recognize the dealer must sell you the vehicle. Sure another buyer might come but every day costs the dealer money, they want to sell to you. You can always use your feet and go elsewhere.

    Dealers need you more than you need them.
  • huskerfan5huskerfan5 Posts: 163
    Nice post, but your definition of "average" was actually the definition of "median" :)
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,039
    edited July 2013
    LOL..... I enjoyed your post. Only one comment... Honda buyers do alot of walking in an out of these dealerships making reasonable pricing requests. The question is how and when to buy?? Here is my point.. I could call/ email about 50 dealerships in 1 hour and find out price and or buy my vehicle.This is done at the end of any month on the last days.. How long would it take you to visit 50 dealerships on foot and get your answers.. Internet buying to me is the only way to go today. Its Quick, Easy, direct, very effective,,,It cuts out that whole salesman to manager Nonsense. The best part is A Internet buyer could cover 4 or 5 states and find out market pricing within 1 hour. Having dealer send over a faxed buyers order to sign for the sale. On occasion i do walk into a dealership with a price but i'm a expert in New Car Negotiation buying. I see that the game has not changed much in many dealerships.
    The Salesmans job is to lie, deceive, hold you there , wear you down and make as much money off you. Once a salesman identify's you as CLUELESS his manager comes in for the knock out. And thats where the fun begins for your hard earned money...LOL

    The bottom line here is Knowing How and When to buy. If your not a good negotiator or your a first time buyer You must read thur these post and Educate yourself on pricing and what not to do when buying. There are many posters who have good techniques on buying and experiences .

    Use them to your advantage.

    And for your money's sake stop trying to buy cars in the 1st,, 3 weeks of any month. You start your buying process the last week. Buying on the last days of the month.

    last poster karhill made a good point and i just wanted to add something to that.
    Other dealer incentives are hard to obtain. Very true thats why in addition to the dealers invoice price, minus hold-back, and incentives do to consumer You take dealerships doc fee's and add them onto your asking or target price.

    If and when you guys are ready to step up to the big leagues in the buying game. We could talk about internet buying and some tips/ tricks to getting the best possible deal.

    If your not having fun your not buying a car the right way.

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

  • jplatt2jplatt2 Posts: 24
    Brian, how exactly did you buy your car?
    Thanks
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,039
    edited July 2013
    At 25 mins before closing at 9pm i squeezed my local dealership into matching almost my best offers from other dealerships on Feb,28th. I took a shot at assuming they would match and they did at 775 below dealers invoice for a exl v-6/. I was actually on the phone closing the same deal with another dealership that night if my local dealer said no.

    To answer your question excluding my Accord that i bought feb,28th and posted buying details in early March...............

    I bought 3 Accords for friends on line with buyers orders faxed to them in the last 4 months I also negotiated a deal for my neighbors Accord on line and went into Brooklyn to Bayridge honda to pick it up with her.

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

  • rsvrrsvr Posts: 21
    What a NIGHTMARE.....

    So I went to the dealership to pickup my Accord Sport CVT on July 5th, and I had to wait for more than an hour to finally take a look at the car and go through the checklist. During that wait time, I signed a personal reference paper and they wanted insurance papers, so I gave them my old car papers and they wanted me to change the insurance to the new accord and handed me the VIN #. I told them that I would do that only after I take a look at the car and so finally they said the car was ready to be inspected. I walk out to the car and within a minute notice a scratch on the hood. So I requested them to fix it. They asked me to sign the papers and take the delivery and they will fix it in a week as the body shop was closed. So I asked them how are they going to fix it and they were like...scrape the paint off and then repaint it. As I didn't want that to be done to my brand new car, I asked if they would replace the hood with an OEM hood. They said they can't do it as the serial numbers do not match. So I asked them when their next truck load was coming and it was in the 2nd week of August but the model I wanted was already sold. So my option was to order a new one and it would take 90 days to get it. After sometime, I was informed that the car that's going to be here in the 2nd week of AUG is now available. So I decided to wait and bought a $3000 pickup truck for the next month and a half as I didn't want to lose $1200 by renting a car. It's a freaking nightmare buying a new car at a good price. Wish other dealers would match the price I was getting here.
    So should I take the delivery of the car in Aug or wait couple of weeks and buy a 2014 model? Is there a confirmed date as to when 2014's will be available?

    Thanks!
  • pootmapootma Posts: 2
    In Albany, NY, just got 2013 Accord EX-L w/out Navi

    for $25,675 + 7% tax + $222.50 title reg/lic plate - $500 AHM Flex bonus = $27,194.75 final price. Financing w/ 0.9% over 36 mo.

    The dealer also gives 5 free oil changes and free state inspection for the life of the car. I figure this is worth at least $500.

    I think it's a decent deal.
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