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Honda Fit Prices Paid and Buying Experiences

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Comments

  • chas0215chas0215 Posts: 40
    Congratulations! You truly got a great deal. Not sure how your dealer can stay profitable giving cars away for below dealer cost. Doesn't make sense to me but their loss is your gain. Always glad to hear about consumer success stories.
  • my older cousin just bought a honda fit base black auto with protection pack and window tint out of door for $12,683.81 with an air check for a 96 toyota corolla.and he bought the keyless entry pack for $400 as well.that dealer is old but they say they are number one in texas.sounds like a good deal.
  • Do not forget that 5-7% of invoice is usually kicked back to the dealership which is called a "holdover" in salesperson lingo. Also- has anyone ever researched how much it actually costs for Honda to produce this car? Honda is making great profits. A car can cost as little as $5000 to actually make. That is why I do like the TMV pricing.
    It includes what might represent Holdovers, calculated into the price.
  • Just made a deal for a brand new Honda Fit 2009 Sport Trim Level w/ manual transmission(without navi). Edmunds.com was right on about everything! They did not pay me to say that either. What a blessing this site is. My price including destination charge was 15,968 in Savannah, Georgia at Grainger Honda. The nearby Edmunds.com premiere agency Hughes Honda also :blush: matched that price; but could not beat it. My OTD was $17,661.

    I used this website for: searching used cars, ceritified cars, new cars, TMV pricing rocks! How to negotiate: PERFECT information. Everyone MUST read the artcle of the "under-cover" salesman. It changed my whole perception of the purchasing/negoitating process. Car salesmen; although fully trained to take advantage of customers, actually deserve a lot of sympathy and respect for what they do. Be nice when they approach you. You can handle them if you study here at Edmunds.com.

    I was always amazed at how little bits of advice spared me from making a deal I didn't want. I am a young adult woman- 40ish- who had never purchased a new car by herself. I did all shopping, test-driving and negoiating by myself. I only called my husband once on the cell phone.

    I was torn between the 2009 Matrix Sport Level and the Honda Fit 2009 Sport Trim. Although I was completely sincere in my struggle, it made a great negotiating tool for motivating the sales folk in my favor.

    I got one saleman to offer me a Toyota Matrix 2009 manual for the match price of a Sport Trim level Honda Fit! ( $3000 discount from INVOICE!!!) I ended up not taking that offer because it demanded I purchase that day. I was hungry and tired, but had brought food(a tip was never negotiate when hungry.)
    I ate the food in my car and felt more clear-headed. I turned around and turned that offer down, much to the shock of the salesman. The car he offered did not have a sunroof and it wasn't right. I felt a bit too clostrophobic without the sunroof and the salesman said he couldn't get the Matrix I was looking at with a sunroof. I turned down this amazing offer because it was worth a $3000 loss to be able to just go home and think about things. You should have seen his face! Even though he said the offer was only good that day guess who called me the very next day to try and work it out...........I have learned to never, EVER settle if an offer is "only if you buy today!"

    The next day I went to the local Honda agency and was able to test drive the manual Honda Fit 2009. Incredible difference!! I was shocked. I had tested the automatic Fit initially and didn't like the cheapness of the interior, but the ride of the vehicle was also not as smooth as the manual!!. So that day I got a price quote for the manual 2009 Honda Fit. The salesman knew I did research already(I kept making a big show and discussion of all my Edmunds knowledge about prices and features), and that I knew what invoice vs MSRP pricing was, so he didn't pull any tricks. My quote was $273 above invoice, but $400 below the TMV pricing! This price was also $1,500 below MSRP! Then I went home and promptly contacted the Edmunds-recommended premier agency that was 155 miles away to see what they could do(I had been interacting with them all along via the Internet-another tip from the "undercover salesman author.") The premier agency could not beat that price, but only equal it. I knew I had the best deal!!

    The one new piece of advice I would add to this wonderful website is about this whole phenomeneon of "building" the new car you want online.
    Watch out! For example, I thought I could buy the manual Honda Fit 2009 Sport Trim, in any of the snazzy colors featured on the website. It turns out it is all based on actual production. Sometimes customers create cars that can't be built too. I will have to wait 3-4 weeks for
    a RED Honda Fit manual to be built and arrive...thus causing the expense of renting a car for several weeks to be incurred.

    I can not describe the thrill of negotiating successfully! I have learned why people do not do research, nor struggle with making comparisons. It was a lot of work and it required doing some math problems. Having the figures handy, figuring the costs, researching the value of products requires time investment, and can make a person's brain hurt. There were times when I had to call local mechanics, auto body shops and other professional experts to get their opinions about
    features that salesmen try to put in the deals. It also takes self-discipline to not get swept up into the emotionality and high-pressure some of these sales folk use. I hope this share has helped those who have read. Thank you Edmunds.com!!!
  • chas0215chas0215 Posts: 40
    With all due respect, where are you getting your numbers from? The industry standard for "holdback" is in the 2-3% range. How do you know that a car can cost the manufacturer as little as $5000 to make? What is the source of your information? Even a 7% holdback would not account for the prices well below dealer invoice that are being quoted in this forum. I'm just a consumer like everyone else. Please educate me. Thanks.
  • ds61761ds61761 Posts: 3
    as i understand it, the purpose of the dealer holdback is to cover the dealer's interest expense on the financing for their inventory. in other words, the dealer has borrowed money to purchase the inventory sitting on their lot, and they must pay interest on that borrowed money until the vehicle is sold and the money is repaid. if a vehicle sits on the dealer's lot for more than a few months, the holdback is consumed by interest. in my case, my white fit sport w/ navi sat on the dealer's lot for over 4 months before i bought it, so my best guess is that my dealer broke even in selling it to me at invoice price. they were probably just glad to get the vehicle off the lot to make more space for the pilots and odysseys that they make more money on.
  • Hello toscabella,

    I enjoyed your post very much! Since I am short on time, I want to make a couple of quick responses.

    I agree that everyone should read the undercover salesman article. It is completely empowering and puts you in the driver's seat once you understand how the dealershp and salesman are viewing you, what they are thinking about you, and what they are saying about you etc. etc, You might want to post the link for others if you have it handy.

    Second, while I am glad you are happy with your deal, I can tell you that the majority of the dealerships used to laugh in your face when you mentioned Edmunds. It is a place that us laypeople go and it really does not give the total picture of the costs of the car, just an illusion so really when you talk about Edmunds, a lot of times it shows how little you know about the industry, not how much you know. Instead, I keep the info in my head by never bring papers or quote Edmunds. They make money I believe from car company ads and so they are not really giving away any secrets. Now, as you can see, Honda is using Edmunds as a tool in the "true cost to own a Fit" ad on TV...

    Third, your experience with the Matrix dealer is exactly the positive result from when you are truly in the frame of mind of not being desperate for that one particular make or model (they smell it on buyers when they walk in)...Being open to various makes and models is always good advice as a way to get the best deal in terms of actually seeing who offers the best deal, but it also keeps you from feeling desperate when you are really test driving and sincerely just looking so to speak. It is very liberating to walk in and out of dealerships not feeling like "Oh i have to get a deal on this make and model, I wonder what price i can get" This way it is in your hands...gee i am not sure what I want, I will think about and decide etc, etc...So the big rule is NEVER FEEL DESPERATE when car shopping or it will SHOW!

    Fourth, your idea about having food with you is very good too because hunger can mess everything up!

    Fifth, I would never try to build a car from scratch since you get your best deals from current inventory, good point!

    Sixth, I think a same day deal can be ok if it is your suggestion. I have done that in the past. I tell them I will buy that day if they can give me the price I want...It worked two times for the last two FITS. There were other factors involved but the key element was that they KNEW I was READY and that I was not playing with them...they know when they have a serious buyer. If they sense the buyer is not ready to buy that day, they tend to not offer very good deals sometimes (I am no expert so if I am wrong, i am only speaking from my perspective)

    Seventh I agree with your last point about self discipline and not getting caught up in the emotion. It is important to be friendly to make it an enjoyable phone call, email, or visit but it is also important to tell yourself you will not get caught up in emotion which is why I have said in past postings that it helps me to know what the car is worth to me and have a number that they need to get to and if they do not get to that number, I try again somewhere else but by standing your ground and setting a rule for yourself, you cannot get caught up in something that you are sorry for later.

    Finally, there is an overstock of FITS so while you did a great job and i hate to even dampen your celebration, you have to understand that your research combined with the current high inventory is what allowed you to get a deal you are pleased with. This situation could not be replicated if we were not a recession.

    I got out for 17000 for my 09 sport Auto...pure LUCK!!!! timing is everything.

    The main thing is that you are now comfortable and know how to buy a car and so next time if we are not in a recession, your skills will serve you well b/c you will need to find the person who wants to sell you a car that month more than someone else!

    thanks for the post!
    sue :)
  • Hello.

    The 5-7% number is listed in Edmunds.com website under "Tips for Buying a New Car." The number $5000 is approximate( a knowledgable friend of mine tossed it at me one day in conversation) and as I stated in my post, I wasn't claiming it was accurate. I was inviting others who might know for absolute certainty to share. I do think it is a GREAT question to ask and consider. Just exactly how much profit are these corporations making off of consumers? I think it is obsecene that car salesmen often work 50-60 hours per week , not even receiving an hourly wage and get small "bonuses" when the corporation is making a killing on each sale. And buyers should be intensely aware about this whole "holdback" issue when negotiating for the purchase of a new car. Don't ever feel guilty about asking for $500 below invoice as a starting point for negotiations.
  • chas0215chas0215 Posts: 40
    During the current global recession, Honda is NOT making anywhere near the profit you seem to think they are. No car manufacturer has been immune. See the link below.

    If you want to vent your anger or frustration about corporations making obscene profits start with big oil companies like Exxon Mobil and go from there. American Honda either directly or indirectly employs a lot of people in this country and we need Honda and car companies like it to stay profitable for a better U.S. economy.

    http://www.nytimes.com/2009/04/29/business/global/29honda.html
  • As we speak there is a fleet of Honda executives that are rolling in fat cash from years of mega-profits. Salesmen may have made money, but not like the fat cats. Do not expect any sympathy from me for any corporations.
    For some reason you are invested in protecting Honda. I think it is totally fair to ask the questions I am asking. Don't think I haven't noticed the obsenity of oil companies, AIG, etc. All corporations employ people as it pleases them. At any moment they could bail and go abroad. Usually it happens when profits are at a premium. Corporations are fair-weather friends. Also consider all the dirty low-down tricks sales departments do to get people to spend more than they can afford, or trick them into buying cars just because it needs to get off the lot. Ther is a lot of pressure at many agencies on sales staff to MAKE THAT SALE..customer be darned.

    My ultimate goal is to use the car as little as possible. Or not even at all. Fossil fuel won't last much longer. Our generation will get through...probably around 2100 no more fossil fuel. The world will really be in a pickle then and we will have destoryed a great deal of the paradise we have been given.
  • chas0215chas0215 Posts: 40
    My only interest as a consumer like you or anyone else is to pay a fair price for a product and to see our economy turn around. Price gouging aside, profits and rewards are not equal in a free enterprise system nor should they ever be. When people and corporations work hard and in an honest manner, they are entitled to profit from their work.

    This is my final comment on the subject. I never really meant to get off on a tangent like this given the subject matter of this forum but you seem to reject our free market system and it just provoked this type of response from me. My comments are not meant to offend you in any personal way but I simply do not share your views on how our free enterprise system should work. As an educated consumer, you always have the option of not buying a particular product or going to a competitor if it pleases you. Don't begrudge people and corporations who make a lot of money. Hard working people and their enterprises are what has helped make this country great.
  • jsteph67jsteph67 Posts: 1
    Chas, you need to step away from the bong bro. So those evil honda corporate fat cats are putting a gun to your head eh, to make you buy that car?

    Hey I came here to see about the fit and I see these crazy writings that forced me to have to register and log in.

    And the oil companies are not rolling in the dough, they make 8 cents on the dollar. Wal-mart by comparison makes 4, although last year, 3.3. A well run auto company probably makes about 10 cents on the dollar. If you want evil, look no farther than Credit card companies, 20 cents on the dollar, of course, they also are not putting a gun to your head to use their product.

    So yes when oil prices and gas prices spike, Oil companies make more total money, yet their profit margin stays at around 8%. If last year they spiked their profit margin to 20%, then I would join you in protest.

    And as far as fossil fuel, while we may not be using gas as we know it today, our cars will be running on something very much like gas, be it bio-diesel or some other manufactured product, for a very long time. The energy punch of gas and diesel just blows everything else out of the water at the moment.

    Anyway, please people tell us the deals you got, because I see used fits going for what some of your are paying new and that is important information in my book.
  • chas0215chas0215 Posts: 40
    No one has a gun to my head ... bro. I bought a Honda Fit because I, like many other people, simply like the product. Nothing more, nothing less. There's nothing sinister going on here, bro. Just trying to be an educated consumer like everyone else. Let's agree to disagree in a civilized tone and move on.
  • kyfdxkyfdx Posts: 27,597
    Moving on.. good idea... :)

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • cassadcjcassadcj Posts: 4
    I have a new 2009 Fit Sport with manual transmission and no accessories.

    $16,264 vehicle price (including destination charges)
    $569 tax (2.5 % AL state tax, 0.75 % city tax, 0.75 % county tax = 3.5 % total)
    $16.50 title fee
    $149.50 documentation fee

    $16,989 out-the-door total

    I did not finance through the dealership and no extended warranty or service was added to the price. I contacted 4 dealers in the region through the Edmund's quote system. Fortunately, my local dealer gave the best price. They found the exact car that I wanted (even color) from another dealership in the state and got it for me.

    That's very close to the Edmund's TMV price. I'm pleased considering that I didn't haggle and the salesperson was very friendly and low pressure.
  • Which dealer did you use? I'm in Alabama and in the market for a Fit.
  • Hello.

    I ended up with Grainger Honda. I would recommend Hughes Honda, which Edmunds.com lists as a premiere agency. I interacted with them via internet and phone calls. They are about 155 miles away and they could only match my best offer from Grainger, not better it, so I ended up with Grainger Honda. Hughes has excellent customer service and prices.
  • What color did you want? I wanted red and I have to wait until mid July for it to arrive.
  • kayak007kayak007 Posts: 1
    Here is the best offer on the Fit I want: Sport w/AT and 1st choice color. Anyone got a better deal in Sacratomato Area?

    Price; $15,500
    Gov't fees: 276.15
    Tax: 1298.18 (8.25%)
    Doc: $55
    Accessories: $180.51 - wheel locks, bumper applique
    OTD Price $17,310.44
    Thanks, K
  • cassadcjcassadcj Posts: 4
    I bought from Townsend Honda in Tuscaloosa, AL.
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