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Thanks for the help.
If you live there, you can't buy it on-line.
regards,
kyfdx
visiting host
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You can buy it with the cheapest price and options up until you have 6k miles on the car. You can't purchase at all once the base 36/36k warranty expires.
I would print out the online prices and tote them to the dealer when you go to buy the car. If they can't (or won't) match the prices then just order online. It is all the same thing - as long as it is HondaCare from a Honda dealer.
Dennis
thanks,
Dennis
From what I'm reading, the online HC purchase is the way to go (if buying one) unless the dealer will match. I want to be sure that this extra expenditure is worth it in the long run. (And I realize you still come out ahead ... in a sense ... if you don't have to use the warranty.) Currently on the fence on the HC ... and a new CRV!
I think if you are like most folks and trade cars every few years you would not be likely to ever need it. If you keep your cars until they are wore out, then you may need it. A lot of folks buy it for the peace of mind - most of the major stuff is covered - stuff needed to keep the car running. If you sell your used cars or pass them along to a family member when done, then having a HC plan can makes it nicer.
Dennis
For most folks it can be a tough choice, for someone who KNOWS they will be out of the car in 3yrs it seems pretty easy - don't bother with it. Stick that money in the bank and in 3 yrs time you will have more money - in case you go over on miles or (unlikely) have to pay for a repair.
Dennis
$24,981 for a 2007 EX-L V6 AT without Nav is a bit high this time of the year unless you received ALOT of accessories with it.
If you were in my situation, between 8.34% APR and 6.07% plus $850 extended warranty 6yrs/100K, what should you choose? Although it wouldn't help for me because I already bought it, I think it would help the others who are making their decision. Thank you.
If you paid the amount the dealer "quoted" in his email, then you paid his asking price.
If you want to purchase at a lower price, you go IN PERSON and OFFER in writing to buy for some lower price. I'd bet you that one or more (maybe all) of those 8 dealers would have GLADLY sold to you for less than you paid.
But it's too late for you 'til next time.
Suppose there are two dealers in town. Dealer #1 gave me a quote $25,000. After forwarding this quote to dealer #2, it dropped to $24,900. However, the dealer #1 says that they can't beat that price when getting that quote I forwarded. I'm wondering why they let a potential customer go to dealer #2 while they actually can sell at a lower price, let say $24,850? Did you mean the dealer would be likely to sell a car at a lower price than its competitors if the customer go to the dealer and negotiate IN PERSON, rather than via emails?
In my case, I contacted all other dealers and asked them whether they could beat that quote. I gave them one week to response. You know what, two of them replied that they couldn't beat that quote. The rest kept silent. How would I explain their actions? They wanted the customer to come? No, I don't think so!
You're right. The quote was what the dealers asked me to pay. But that quote was computed based on what their competitors did.
I don't want to challenge you. But if there's a lesson, I should know and learn it. I'd appreciate if you help me. In the next three months, I will probably have a chance to purchase one more car for my family. Would you show me some tricks to win the negotiation? Thank you.
Unless your credit is bad, you should get pre-approved for a loan from your bank, credit union, or online at CapitalOne. The current 60 month new car rate online is 6.35% . You challenge the dealer to beat your pre-approved rate and if they can for a simple interest, no set up fee loan, then you go with them. If not, you use your pre-approved deal. It is AMAZING how quick the dealer's rate can drop when it is either make nothing extra off of financing or make a little.
Then you go online at places like Bernardi and Saccucci and price out the same extended warranty plan. Again (assuming you want HondaCare) you challenge the dealer to match or beat the online prices. If they can, buy from them, if not then buy online later.
If your credit is poor, then you may have little choice than to accept what the dealer can offer you - but given that they offered you a 6% rate I would guess you have good credit.
Finally, I think if some dealer tried to pull that "buy this and get a lower rate" crap-o-la on me I would tell them to stick it and walk away. I would find someone to sell me the car for a similar price w/o any of this finance trickery.
Research the prices of the cars, invoice, incentives, etc. Get your money lined up. Get your extended warranty prices lined up, if desired. Then start car shopping, then no buyer's remorse or last second decisions need to be made.
Dennis
I read that Honda is having a clearance sale and that some dealers are selling the Accords for $4000 below invoice? If so should I wait till end of July?
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and see if they can come close too that.
My experience was for Odyssey 07, and I was't able to get lower than $1200 for 7yr/100K, and therefore will probably buy online.
If you live in the following states your dealer must charge sales tax.
Arkansas
Kansas
Ohio
Virginia
Connecticut
Louisiana
Pennsylvania
Washington, D.C.
Florida
Nebraska
South Dakota
West Virginia
Hawaii
New Jersey
Tennessee
Wisconsin
Iowa
New York
Utah
Gardiner
MyHondaWarranty.com
Regards,
David
Gardiner
MyHondaWarranty.com
I live in Pa and priced it out on your page.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I declined LoJack (negotiated to $1100), 7 yr. extended warranty (got them down to $1200 with AAA pricing), interior/exerior protection, gap insurance ($395), etc. Maybe a little risk with the short 3 year warranty, but I trust Hondas & won't park in shady areas.
Car purchase price as follows:
$26,499 (below invoice, includes destination)
+ $699 (running boards)
+ $235 (cross bars for roof)
+ 8.25% CA tax
+ fees
Total $30,007 OTD.
If you are happy with your purchase then enjoy your new car. If you wanted that lower rate and don't want the warranty then just cancel the warranty after you get your first payment statement and they will credit that to your loan. Your payment will stay the same but you will owe that much less.
if it was me I would keep the HC plan.
Congrats on your purchase.
This is new to me. With all the papers I signed, am I able to cancel the extended warranty and still get the 6.07% APR?
BTW, I heard some mechanics complaining about the Accord V6 transmission. That partly affected to my decision getting the 6yrs/100K extended warranty.
Actually, I'm happy with this purchase as well as the car. What I'm concerned was if I did something wrong, I should know and learn it for the next purchase. Like I said, I will have to buy a new car for my family in the next 3 months. It's probably a CR-V.
Thank you for your sharing.
What the finance manager did was play a game with you by pressuring you into buying the warranty by offering a lower finance rate. he makes a profit off the warranty. I don't think it is illegal but it certainly is unethical. You should not have had to accept the warranty to get the lower rate. Since you wanted to buy the warranty anyway and the price of the warranty seems pretty good, the point is moot. If you didn't wnat the warranty, you could simply cancel it like joel0622 suggested after your first payment. You keep the rate and they credit your account the cost of the warranty.
When you buy your CR-V, just keep this in mind.
As long as it is a HondaCare warranty you have 60 days (IIRC) to cancel the policy for a full refund. As Joel said, if you financed the policy the refund will likely go back to the bank and not to you. They will apply it to your loan - you will pay the same payment each month but have fewer of them.
Then, if you want to get HC you can do that from one of the discount HC dealers we talk about in the forum here and save money. They you get the low rate and a better/cheaper HC policy. Finally, you get to "Stick it" to the F&I person that was jerking you around about the rates and requiring you to buy the HC plan to get a lower rate.
As I posted in another message to you - always take your own approved financing to the dealer when you go. If they can beat your pre-approved rate from your bank/CU/online bank like CapitalOne then let the dealer do the deal, if they can't then use your pre-approved money.
Know the price to pay for the car, the price to pay for the warranty (if you want one), and know what you can do for sure for financing before you talk to a dealer. You get a better deal and save a lot of grief.
Dennis
Dennis
(Note: threshold might differ between years/models. Above is true for Civic)
Is it really necessary to spend the extra money on an extended warranty?
1. The consumer cannot come back and say "no one told me I was buying a warranty, you hid it in my paperwork"
2. The consumer cannot come back 4 years later needing $2500 in transmission repairs and claim no one ever offered them a service contract.
The dealer has burden of proof. There have been dealers in California who have had to pay repair bills because they could not prove the Service Contract was offered at point of sale.
So, I can just purchase a new 2007 Pilot, decline the extended warranty from the dealer, and then purchase it directly from your site the next day (I live in Washington State)?
--Kevin
If you're going to buy a Pilot, you might see what the warranty would cost using one of the dealerships recommended here. Then, when you're negotiating, you can tell the dealer that you'll buy the warranty there if they match the price. If not, no big deal.
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On my American car purchases I've always bought and used the extended warranties but not on my foreign car purchases.
I plan on keeping the car for a long time. I know we can't predict the future but I just wanted to get your thoughts.
If I do go through with it I will either use Bernardi or Saccucci if my dealer won't beat their price.
So how does this online warranty work? I live in NY and looking to purchase the warranty from a dealer in Ma or Ri. Do I just bring the car with problems to any dealer and they honor the warranty?