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What about the warrenty package being offred by dealer?
Closed deal on Silver/Taupe MDX on last saturday. Here are the details.
Sale-39433.55,Dest-810,Doc-214,Tax-2427.55,Lic-162,OTD-43047
Thanks to all forum members and [nbh] #9085 in particular for helping to get a good deal.
Price 36,900 (includes Destination, Body Side Molding) Black / Taupe
..only other charges DMV and Taxes
Other Quotes/Prices from other nearby dealers in the Area ....(without Molding)
$ 36,800
$ 37,500
$ 38,000
$ 37,200
I believe I did OK, however I see there was some pricing from the other posts for 35,000 ?? .... I didn't get the impression that there was any more give....
Thoughts?
If you are willing to travel a bit, I would suggest you expand and target your search to dealers with more than average inventory of cars. They're likely to be more flexible w/ price given that the 2010s are right around the corner.
Anyway, I wanted to pay at least $20k with my AMEX card because of the points they give me, but the dealer told me the most they would take on a credit card is $5k. Is that the norm everywhere? Or did they just want me to take a bigger loan so they get a bigger kickback from the bank. The 4.85% financing was definitely not a steal.
I asked a few dealers in VA and was told they will arrive in a week or so.
Given the 2010 model is arriving, is it easier to get a good deal on 2009?
If not, is it better off to wait for 2010 model?
Anybody knows what kind of incentive we can expect for 2010.
2010 BASE model has some new added features such as 6 speed and power tailgate and rear view camera:
http://www.caranddriver.com/reviews/car/09q3/2010_acura_mdx-first_drive_review
http://www.cartest.ca/honda_cuts_prices_on_2010_mo.htm
Purchase Date: 12/6/2009
Model: 2009 MDX Tech Silver/Ebony (1 mile on the odometer)
Price Paid: $39544 + TTL
Method: Financed 60 months at 2.9%
Longer Version:
Just purchased a 2009 MDX Tech Silver/Ebony last night for $39544 + TTL.
Inventories are low!
First went to a small volume dealership the day before. They are down to one new 2009 MDX on the entire lot, a blk/blk tech. Was told that their very last 4 2009s are coming in later this month and one is already spoken for. Salesman was nice and upfront with pricing. He came right out with $41500 for a color combo that he would have to go trade for. I countered with $38500. He took it up with the manager but was unable to even get a counteroffer. Manager was pretty firm on $41500 so we walked.
Yesterday I stopped by the dealer closest to my house. Their inventory was a little better, with a total of 6-7 '09s on the lot. All were either tech or tech/ent. No base or sport. We found a color combo that was acceptable to us. It was freshly off the truck, still wrapped in plastic and with 1 mile on the odometer.
Negotiation took a while. At one point they would not budge on $39588 and we were stuck on it for about 40 minutes. Finally, after I actually walked out of the door, we settle on $39544, an odd figure, in the parking lot. Given their stubborn stance over the final $88 gap, I figure the negotiated number is probably good enough in light of the loss of the $1500 rebate this month. I probably could have pushed closer to $39K, but supporting a local business and helping a salesman make ends meet was worth more than the hassle. Besides, we really wanted a 2009 because of wife's distaste for the look of 2010 and my fear of the new 6-transmission bugs. In addition to no confirmed delivery date, the 2010 would also cost $5-6K more in the initial purchase price and over the course of the loan (2.9% v. 5+%). The decision was easy for us.
For those still looking to jump on an '09, don't wait. If you still want to have some choices in terms of color combination, better start paying your local dealers a visit. Good luck and happy motoring.
1. Consent to let them run your credit (even if you already have financing arranged) - some salespeople get a spiff for this
2. Entertain their financing offers if they can beat yours (they will make more on this than on your car purchase, even if you don't negotiate hard)
3. Have your vehicle serviced at the dealer
4. When you get post-sales surveys, give your dealership the highest rankings (unless they really screw you around)
5. Haggle the car price lower but purchase some accessories. Again, much better margins for the dealership here.
6. Tell your salesperson you'll leave them a gratuity if they can get the price you want. If Starbucks cashiers can ask for gratuities, so can car salespeople.
All dealerships are struggling, be it Acura or BMW. The above are easy ways to alleviate guilt while still pushing for better prices. I don't understand the logic for not being aggressive in negotiating on price. An Acura dealership selling 100 cars/month is not going to let a deal by over $1k when they know they will earn it back in other ways (loans, accessories, service).
JMHO.
1) Running credit. Why on earth would you tell someone to lower the credit score?
Every time it's run it dings your score. I’ve worked all across this country and never seen a spiff for getting a finance application.
2) Finance Offers. On Special APR like the ones Acura offers we make NO MONEY.
3) Of course service your car your dealer they're the ones with specially trained techs.
4) Surveys. Answer them honestly we want to know the best way to service our clients
5)The margins on the accessories are extremely low due to competition. Example
Running boards on a MDX earn us around $60.00 Some profit margin.
6)This is the best one. Offering a salesperson a gratuity is called conflict of interest and he or she would be terminated immediately.
Guess What I will let you walk over a $1000.00 The industry is changing. Do you know why Ford posted a profit third quarter? Cause the lowered there incentives monies. Your gonna see that happen through out every car maker and with lower production guess what prices will get higher due to the simple fact is we will have to earn more per unit to stay afloat. I really wish everyone out there would get off our backs and let us earn a living. You pay more percentage markup and advertising on a pair of NIKE shoes. Where’s the blog about that?
Seems everyone is and expert in the Auto Industry. Guess what? Your not. Your too busy hiding behind a PC and you think when someone blogs about something it's real.
Also, you completely lost me with your "credit on credit" comment. What does that mean? You realize that the credit card and car loan are being used to pay different parts of the car's price, right?
Finally, the 4.85% was extended by Chase. If you follow the banter on this blog, several people mentioned thay got a car loan with an interest anywhere between 0 and 2.9%.
The 2.9% is a new car rate. You purchased a certified MDX which there is a special rate which is 4.9% and the dealership got you 4.85% which is an amazing rate. Be proud of where you are. Also remember this is not a mortgage the difference in between 2.9% and 4.85% might save $12 a month. If $12 a month is gonna break anyone shopping an MDX they shouldn't be shopping for this caliber of car.
FYI there is no 0% offered by Acura. This is why I stated earlier that blogs are useless. There no responsibility on what someone post.
I agree Doc fees and such are a rip offs. This is done so dealers can stay afloat. Everything a showroom does is caused by the consumer not the dealer. You want invoice, well now the showroom has to find another way to improve their bottom line. Regardless of what you have read invoice is what we own a car for period!!
Our showroom has been here for 20 plus years. I think we'll be around for a few more. Cause we are making a profit and letting someone walk over a $1000 is necessary when it could mean the difference between making money and not making money.
I will preach cause you DON'T understand the business. You pay more markup on a DVD Player verses what we make on a car. Where's your blog about Samsung making $150 on that $299 DVD player? That’s a 50% margin we struggle to get 5% The best thing that could happen is the industry go to one price selling. Everyone would get the same price. So thats a win win for both the customer and the showroom.
You are also spreading half truths and mixing in false statements with your comments.
All auto dealers make money through commission or other incentives from banks and financial institutions. This is also true of insurance brokers, investment brokers, mortgage brokers, and loan officers. It is utterly false to say a dealer does not profit from providing or arranging financing, or they wouldn't offer it.
I don't know how your shop prices accessories, but at the dealership where I purchased, sport running boards cost $571 + labor. I can order the same part from any number of online vendors for $425-$450 (incl. tax and shipping) and have it installed for less than the cost of the part directly from my dealer. I'm sure you'll tell me the online vendors are only making pennies on the sale of the accessory too.
Margins on vehicles vary as well. You know full well the margin on a MDX is greater than the TSX. You also know a car that's been sitting on a lot over 90 days will have a more difficult time being sold since the dealer now owns it and probably lost their holdback, whereas a car that just arrived may move quickly since the dealer can make greater margins through holdback and other incentives for moving it fast.
Dealerships make margin on used car sales, at least that's what all the people I know tell me, just like Gamestop makes most of their profits on used games. They'll buy that 2008 MDX Sport at auction for 10-25% below it's KBB WHOLESALE price, clean it up, and someone will buy it. I don't get why, but people would pay $38k for a 2008 MDX Tech w/20k miles when they can buy a new 2009 MDX Tech for $39-40k. But the margins are totally different on the 2 vehicles and it's not worth losing the sale AFAIK on that 09 when they can make better margins on the 08 used.
Incentives also vary from region to region, month to month, and from dealership to dealership (volume incentives, etc).
And while your dealership may have a higher level of ethics and standards, the fact is there are more lousy dealerships than honest ones. The dealer where I ended up buying tried to pull all sorts of lies and tricks, including asking me for my SSN on a credit application "because per the Patriot Act we need to make sure you're not a terrorist before we sell you a car" when I went to take delivery.
You also can't compare Ford to anyone else. They had the benefit of Cash For Clunkers, from a weaker dollar, and from government backing more than manufacturers like BMW or Acura (making the MDX in Canada is losing money on the exchange into US currently).
I don't get the hostility. Where I live, there are plenty of Acura dealerships, and a good number of them are high volume that don't need big margins on vehicle sales to generate healthy profits for the dealership. They wouldn't sell MDXs for a loss, so even at 34.1k like lexluthor paid, clearly the dealership broke even or made a profit or they wouldn't sell it for that much.
Of course the margin increases as you move up the models. It still works out to be approx 6% of invoice. As far as auction are concerned no we are not buying them 10-25% below KBB. FYI no dealer uses KBB for wholesale value. Black book is what Acura uses and we use NADA. KBB is nothing more than bank site. Read the disclaimer at the bottom of the page. It says values given are an opinion and only intended for the person who printed them. Again not a real number. Lets address this little more. First we buy the car at an auction. Now we have to pay auctions fees, then transportation fees, oh yeah then we have to Certify the car. Guess what EVERY MDX requires close to $1500 to bring it up to snuff. Then we have to pay for the certified warranty Where’s all this profit we're suppose to making? Has anyone every thought about the costs incurred or do you think we buy a car and sell it and keep every thing in between? If this is the case I have a Bridge for Sale
You're right with a higher volume dealership you can take a shorter deal and make profit with volume. If lexluthor paid 34,100 for his MDX we'll take 100 at that price. No responsibility for what is written. I could say I paid $32,000 Doesn’t make that figure real and his figure isn't real. I see the debits from our accounts. I know what we pay for the cars. He may have gotten one that had transport damage and the dealer took a looser on that car.
Unfortunately the Patriot Act is a real thing. We are required to run OFAC report on every client. Along with a proof of I.D. purpose of this is to try and help lower I.D. theft. SS # is not required to run a OFAC report
I have to ask a question. Why wouldn't you put your SS # on a credit App? That is required to secure a loan. Or did you pay cash in which case the dealer should've used a different form. If we don't run an OFAC and Proof of I.D we can't sell the car period.. NO EXCEPTIONS.
Yes there are good dealers and bad dealers. I have been lucky and never worked for a bad dealer. The major issue I have is there is too much miss information out there. All these heavy incentives are going to end. I'm already seeing it with other manufacturers and Acura. Bottom Line is the manufacture can't buy a loan at 1.5% and sell it for 0 and expect to be stable.
Also, you are going to validate what people think about dealers being sleazy and it's going to affect some dealership out there when someone reading this thread goes to buy a car.
Most dealerships finance managers act like loan brokers. They get your SSN and then see what prequals are available and offer something which is mutually beneficial. I don't see what the problem is if I get a rate at which I'm happy and the dealer gets a commission from the bank or lender. This *should* help sales by making it less about margin on the new cars.
I know dealers use NADA, but not when dealing with customers, so it's moot. My point was that consumer has no knowledge of what a car is selling for at auction when they walk in to buy a used car or to trade in their existing car, but the dealer does. And, no dealer I've ever heard of shares this information with a customer.
If a customer walks into a dealership with a trade-in, dealer references KBB. The dealer will give them an offer based on KBB trade-in, knowing full well the price at which they can profit by selling at auction based on reports on what's sold in the last week.
Likewise, when customer comes in to buy a used car, negotiation is not from NADA auction prices from the last week, but from KBB. If MDXs stop selling well at auction for whatever reason (oversupply, lack of demand, whatever) it would not affect a customer's price in negotiations with a dealer.
So back to the original point - why not push dealers hard on new 09 MDXs? They don't want them sitting on lots longer than 90 days, especially with sales slowing, tax credits expiring this month, and 2010s coming on the lot sometime soon?
Further, the only thing a consumer will know walking in to an Acura dealership is what other people paid. So I understand your position but you shouldn't fault consumers for aggressive negotiations since the dealership is doing the same. The idea is to find a price both can agree with and the dealer knows better based on all the ways they can earn revenue from a single sale and they won't start from their bottom line.
Yes we do act like a loan broker when there is no special financing. When there is we are pencil pushers and this is why all the items in the finance office are offered. That’s why it is about margin. Example. Our cash transaction on cars year to date is 47%. Almost 1 out of 2 the people write a check. No opportunity of finance and no flat. So what do I do? I sell, value added items, yes I am very good at it, however if a client comes in my office writes a check and buys nothing I make nothing. Everyone in a showroom is commission. Regardless of what you have read things like incentives to the showroom from the factory very rarely happen. I’ve worked with close to 10 manufactures and over the course of time I’ve seen that happen about a half a dozen times.
No most dealers use NADA for trade in and retail values. KBB is a bank site it is not intended for real value. We pay more for a trade versus and auction due to the fact that we can do a more accurate inspection. When you buy a car at the auction you don’t get to throw it up on a rack and find out that a bearing is bad. So how is that relevant? You are right we don’t adjust our prices on lot if the auction slows down. Do you know why? Cause cost is cost. The auctions don’t reimburse us 30 or 60 days later. Yes every dealer takes a loosing deal it’s part of doing business.
I don't fault people for wanting a fair price. I want one as well. I also want a level field. By that I mean if there is to be full disclosure in my industry then there should be full disclosure with every item on the market. I find it crazy that my local music shop makes close to $200 on some of there high end cymbals.
This is why 1 price new car priceing is the best thing for you and me. No games no fake fees no BS.
1. Nobody said that a 1.95% higher interest is going to break the bank, but you are grossly understating the cost. My car cost $42.7K plus another $3K in taxes, registration, document fees and god knows what for a total of nearly $46K. I made a $14K downpayment ($9K trade-in and $5K on Amex), leaving a $32K balance on the loan. The monthly installment on a 5-yr $32K loan with a 2.9% interest is $574; with a 4.85% rate it goes up to $602. So, the difference is $28/month, more than twice the $12 figure that you quoted - or $1,680 extra interest over the life of the loan.
2. Adding $5K more debt is "unlikely" to change your credit profile so much that it would bring down your FICO score. At least in my case it did not; I know that because I subscribe to Experian's Triple Advantage service. According to your own post, only a certain kind of people "should be shopping for this caliber of car". Do you think $5K additional credit is going to have a meaningful impact on the credit score that kind of people?
3. You still fail to explain why paying with credit card is "illegal". You said making a down payment with a credit card is "against federal banking regulations". Why would a dealer be aiding and abetting anybody in violating federal banking regulations? They run a business themselves; so certainly they would not be doing anything so publicly to run afoul of the law!
4. "Credit on credit" is a bogus term. I Googled it and the number of results I found was ZERO. If I understand correctly, what you are alluding to would be similar to retail investors borrowing on credit card (or a bank loan) and using the proceeds of that loan as a margin to get additional margin loan from the brokerage house to buy shares. And clearly, that's not even close to what I was trying to accomplish here.
Your credibility just went down the toilet.
BTW, where in SoCal do u live? I lived in LA between '91 and '96. I lived in a number of different neighborhoods there, but spent the longest part in Santa Monica, 2 blocks from the 3rd St. Promenade.
That seems like a good price with technology pkg. What dealer in socal? I am in PV and looking as well, but I also want entertainment. The best i have so far for that combo is $40,800.
Corsche
about our Linance manager blogging,I think everyone on board now understand what his act was about..I dont know if he deliberately meant to bash our thread or it's just a act of bored man sittin in his office since there's no customer's in his dealership (probably they let'em go over 1000$ argument :P )
How easy/hard was it to install roof rails
Thanks
E-mail the two dealers back and tell them what you want to pay, that your offer is firm and that you are ready to close immediately. They will counter with some other value. Take the lowest value from, say, dealer A and send an e-mail to dealer B offering dealer A's quote minus $500 and say final offer. If dealer B agrees, buy from him. If dealer B counters with a lower quote but not what you asked, repeat the same process using dealer B's new offer with dealer A. At some point you'll reach a value that you and one of them will agree is a deal.
You should be able to do the deal for $41k, shoot for $40k.
I do not care about what they are saying right now because, if all 2009 MDXs are gone at the end of this month, I will look at another option. I mean Acura MDX is not a one and only option for me at all.
Right now I wait and keep looking for 2009 MDX in my budget.
-Navigation
-Power liftgate
-Upgraded sound
-Solar sensing climate control
-Easier cellphone address book importing
Only you can decide if those options are worth the extra $4k or so. IMO you are paying mostly for the nav system. An audiophile might appreciate the upgraded sound system but if you are toting kids how much are you going to notice. The others are small beer, worth a few bucks maybe but not for me.
Up to you, I didn't want the Nav so I went with the Base model, and it still has enough tech - bluetooth handsfree phone, sat. radio, tri zone climate control, power seats/windows/mirrors/steering wheel, remote entry, 2-person driver seat/mirrors/steering wheel memory, auto dimming rear view, AUX input port. I couldn't justify the price difference + depreciation.
http://www.acura.com/ModelLanding.aspx?model=MDX
I was really looking forward to it. We have prepared to purchase one end of Dec - beginning of Jan.
I had come to accept the new grill, but is the wood grain dash really the only option?
It is hideous and doesn't fit with the interior. This really is probably a deal breaker for me and especially my wife. Now what should we buy?
:mad:
I agree, the new wood trim looks 'off' with the grey interior. I think it might only go well with the parchment or maby the black as well.
Talked the local dealer into selling me his 2nd to last 2009 MDX Base Black/Parchment for $36,562 inclusive of all incentives and a set of roof rails. Without the info on the forum I wouldn't have known how hard to push before I got a decent deal.
Regarding 2010s - Dealer told me financing deals remain in place from 2009 on APR and money factor (.00162). MSRP on Base is up roughly $1,200.
Good luck to all those looking to buy MDX's.
Good Luck
It is possible that a 2010 MDX packaged to the max could be over 6,000 lbs GVWR, and thus full under section 179 expensing rules. Maybe. Does anyone have the GVWR for a 2010 MDX?
Curb weight mdx 2009: 4564lbs
GVWR mdx 2009: 5952 lbs (just 48lbs short)
2010 curb weight:
MDX with Advance Package 4,603 lbs
MDX with Advance Package and Entertainment Package 4,627 lbs
MDX with Technology Package 4,550 lbs
2010 MDX GVWR: unknown. Does anyone have this? The 2010 MDX with Advance Package and Entertainment Package will likely have a GVWR above 6000 lbs.
Haven't got the clear bra yet and decided to nix the chrome lip (wife made that decision for me).
If I purchase a 2010 MDX with Tech at
Invoice compared to a 2009 MDX with Tech at Invoice minus $2,000 rebate I think the 2010 model is a better deal.
Go ahead and compare. Thus, the incentive on the 2009 models (if there are any left) is likely to increase in January.
I prefer the 2010 model with tech at invoice. For about $2000 more you get 6 speed tranny, milano leather, nicer rims, fatter steering wheel, paddle shifters, revised exterior, etc.