Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
Options
Comments
$23,356 (includes $515 destination, and the above mentioned accessories built into the price also. They were all listed on the order/bill of sale as part of the car so they're covered under the full 3yr/36k warranty & any HondaCare extended warranty that we may decide to buy later on.)
$1401 Tax
$52 Credit app fee
$52 Co-applicant credit app fee
$189 Doc Fee
$242 DMV fee
$7.50 Tire fee
$25,300 Out The Door Total
Obviously, this deal was lower than (invoice - holdback - $750 April incentive). Not bad considering the couple of B.S. fees. Also, the accessories are over $1k retail just for the parts, if anyone would pay this much for a wing, fogs, & auto day/night mirror. The dealership was in NJ, so maybe that will help people out there as a gauge to go by. Just adjust for any difference there might be in May's incentive versus the $750 they had in April, maybe even knock off a bit more to be more aggressive for later in the model year? Good luck!
Enjoy your new car.
Dennis
Orisman Honda in Bethasda (Washington DC eare).
According to this website:
MSRP $17,995 + Destination $515 = $18,510
Inoice $16,201 + Destination $515 = $16,716
our deal:
$14,200 Car price (no options)
$515 destination fee
$614 all others (including 3% tax and all process fees)
out the door price:
$15,314
what contributed to this great deal? Here is my 2 cents:
a. End of month sale. Look like the dealer wanted sale as many cars as possible even possible losing money!
b. The dealer Ad said to beat the best internet price (DC eare) by $500, they honord it.
Transaction was smooth, got everything done within 4 hours (most of time were waiting. They were really buzy!), and drove the new car home!
You mentioned that you have a url where the Honda monthly sales are posted. What is that link? Also, I am sure hoping that Honda ups its incentive or lowers the financing for May!! Thanks.
mister22
is one place. These numbers are released monthly in press releases for all the car companies and can be found lots of other places - but nothing so far.
Dennis
Does this mean the end of incentives? Who knows?
Dennis
Month-to-Date Year-to-Date
April April DSR** April April DSR**
2005 2004 % Chg. 2005 2004 % Chg.
Accord* 35,235 31,261 8.5% 112,606 114,492 -1.6%
Memo: Accord
Hybrid 2,023 5,545
Civic* 31,557 27,477 10.6% 90,812 100,626 -9.8%
Memo: Civic
Hybrid 3,466 3,041 9.8% 8,884 9,023 -1.5%
I have had a LE camry for 10 years and loved it. But I saw the new Camry XLE and the Honda Accord EX, and I liked the Honda better. Perhaps variety is the spice of life.
Some questions.
I understand the new 2006 are coming out this summer, has anyone heard of what changes the 06 will make? I understand the whole body will change? I am not in any great hurry.
I have read the forums and many are getting online deals, what precautions are you taking to protect yourself?
What the difference from a coupe to a sedan? Besides the coupe being a little more sporty. I didnt get a chance to see the Coupe.
What is the average price for the best deals for a EX-Honda Accord sedan V6 with
Nav ? You think my broker can beat it?
thanks in advance.
Stingray,
Read these boards and do some test driving at a dealership. Tell the dealer you're just looking and are not ready to buy so they don't take you into one of those "little rooms"! Once you know what you want get a quote from your broker and compare it to an internet quote from Spirit Honda in El Monte. Spirit will give you an internet quote for all their models if you're not sure which one you want. Tell the dealership where you did your test driving what your best quote is. Be very specific when you email a dealer as to model, AT or manual, color and extras. Get an out-the-door quote. Make sure the car is in stock and bring a printout of your email correspondence. Test drive the vehicle and make sure everything works. I did this last weekend at Spirit and it was a very easy process, absolutely no problems. We got quotes at the beginning of April and at the end. Sometimes prices go down the last couple of days of the month. Good luck
Louise
with the use of the internet quote and CarsDirect, have a deal on the table and basically just need to go in and sign it. Wanted to see if people thought this was a good deal. We live in the Indianapolis area and from a local dealer got the following:
Accord EX-L Sedan 4 cyl automatic (MSRP: $25115), black
rear wing spoiler ($699)
splashguards($149)= $25814
got the price for $23000 (including accessories, invoice w/o acc. $22651, this includes destination). After tax and fees, out the door price is $24494, got the 4.9% APR for 60 months.
In case this deal goes sour, I have a red EX-L at a dealer in Chicago that has one also with a spoiler + wheel locks and has offered $22480 and after fees, out the door would be $23899, so $595 less. He would drive it down from Chicago with no delivery charge, but it would have ~250 more miles on it. He made this offer after we agreed to the Indy deal, but is leaving it on the table in case things go bad. Also 4.9 % APR there as well.
This may be a bit off topic, but in terms of GAP insurance and an Accord, what do people think? We can put as little as $0 down, or do people recommend putting the 20% down or go with the GAP? I heard GAP insurance is much cheaper through my insurance agent than the dealer, true? I have GAP on my leased BMW, but not sure about a financed car. Alot of questions, but I am closing one of these deals tonight.
thanks!!
Looking at H&A (Handa) the rear wing is $499 retail and $371 their price. Splash guards are $62 with a $94 retail. Neither price includes install, of course.
So if you add $22,151 + $371 + $62 = $22,584 Then figure some dealer doc fee of $100-300 then you end up close to your price. An OK deal, but you could have done several hundred better on Saturday. It is also possible than Honda will put incentives on the Accords for May as well - if so then you can get a better deal this month.
I would not worry about GAP insurance unless you are leasing. You are getting the car "cheap" (at or below invoice) and the Accord holds value well. Worst case if the car is totaled or stolen right after you buy it the insurance may try to offer you less than you owe on it. In this case just insist that they replace the car for you with another. The 20% down you are talking about could be left in the bank to cover any extra you might need IF this happens. After the first year or so the car will probably be worth what you owe or more.
Dennis
Now if I went with the Chicago car at $22480, thats below my target price, but it would have been driven on I-65 from Chicago, risking some rock hitting it or something plus the extra 300 "break in miles". Also the car in Chicago was our second color choice, I am paying about $11 more a month if I go with the Indy deal, or about a hand of blackjack in Vegas (like the $10 tables!).
Now, I have gotten offers of 25,450 incl destination fees but not including taxes, etc.
What is the best way to get a OTD prices from the internet dealers. I read some of the threads and it seems that it averages a $2,000 additonal cost when you inlclude taxes, etc.
If, in your state, you pay taxes at the dealership and then they send in the tax payment, you simply need to tell them you want an out-the-door price, then enumerate what this includes:
1) Price of vehicle
2) All dealership fees
3) Tax, title, and license fees
If you do not want an extended warranty or anything, make sure you let them know up front. After you get an OTD price, make it clear that if the price goes up at any time while you're completing your paperwork, you'll be leaving.
kirstie_h
Roving Host
Host, Future Vehicles & Smart Shopper discussions
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
1) The car
2) The destination fee
3) Any dealer or doc fees
So all your quotes will be the same - car,dest,dealer fees. Just add tax, title and license which should be the same for each dealer. If you get a better deal out of state, you can buy the car for this price and pay the tax and tags when you title the car.
Where do you live? Someone here may know how to figure your sales tax or we can look it up. Where I live we pay $80 for local taxes, then 7% on the full purchase price (less trade in tax credit). Title and tags would run about $80 more.
Dennis
Now, I have gotten offers of 25,450 incl destination fees but not including taxes, etc.
What is the best way to get a OTD prices from the internet dealers. I read some of the threads and it seems that it averages a $2,000 additonal cost when you inlclude taxes, etc.
A reputable dealer will give you the OTD price by email. I think you said you live in Southern California. Tax will be 7.75% unless you live in a city or county that has additional local tax. The title and license fees will be around 1.5%. When I bought my Accord in Southern California last weekend the breakdown was:
purchase price $21,451
document fee 45
sales tax 1665.94
license fee 198
CA tire fee 8.75
total OTD $23,368.69
My fees came to $1917.69, so plan on an additional $2000.
Louise
Dennis
I'm a newbie in car buying & am looking for a 2005 Honda Accord LX Sedan, w AT, w/o Nav (CM5645EW), in Southern California. From the forum it seems to me that the true OTD price to negotiate would be:
Invoice Price (included destination charge) + Fees (7.75% Cali Tax + Doc fee + DMV fee + Tire fee) - Incentive - 3% holdback.
The problem I have is:
- I don't know what is a decent Invoice Price in Southern Cali & the incentive here.
- What is a good APR from Honda dealers now?
Any idea?. It seems to me that Invoice quoute from Atlanta & MA is cheaper than in California about 1K !!! Any reason for this?
Thanks.
I think the Honda incentives are nationwide, but there are no known incentives right now.
Honda has not announced any finance deals for May either. They had 2.9% for up to 60 months in March, then 1.9% for 36 months for April. If they don't have a special rate, check into a loan from your bank or credit union or Capitalone online. If they offer a better rate just use your own financing.
Dennis
My experiance:
Accord VP $15700, including destination, the other fees are standard...
Bought Sunday 5/2, could have been $250 cheaper at the end of May...
2005 Accord Special AHFC 1.9% A.P.R. Financing
Special AHFC A.P.R. financing available on all new 2005 Accord models. 1.9% APR financing for 36 months. Not all buyers will qualify. Example for 2005 Accord EX: 36 months financing at $28.60 a month for every $1,000.00 financed. Dealers set actual vehicle sales prices. See participating dealers for details.
Offer valid from 5/3/2005 through 5/31/2005, on new and unregistered 2005 Accord Models. Only on approved credit by American Honda Finance Corporation through participating dealers. American Honda Finance Corporation's standard credit criteria apply. Example for 2005 Accord EX: 36 months financing at $28.60 a month for every $1,000.00 financed. Not all buyers will qualify. See dealer for details. Dealers set actual prices. Limited time only.
Dennis
I'm willing to drive to the Cleveland area if the price is right.
Invoice $22,136 +
Destination $515
---------------------
Total = $22,651.00 (based on edmunds.com)
... the last decision was what color???
Initially wanted the Eternal Blue Pearl and I used Edmunds.com 'Local SF Bay Area Dealer Quote' links.
The first quote I received was from Autowest Honda Fremont for $21,086.00 "+ fees", ... I thought wow! The best my credit union rep. could get was $600 under invoice, or around $21,635. so we're going the right direction. I emailed Autowest Honda Fremont the next day to have them spell out what the "+ fees" were, which they eventually sent.
Later, the next email quotes came in @ $21,436 from Stevens Creek Honda, Santa Clara.
Anderson Honda, Palo Alto didn't email at first but followed up by a phone call and I was informed my price would be $21,786.00. I asked if he price match, I referred to my $21,086 email quote from Autowest Honda and he said that they do. He asked if he could send me an official email quote and since his $21,786.00 price is a template, it would still reflect his first quote $21,786, although matching $21.086 was no problem.
Anderson's email quote was complete with all fee's spelled out! The other emails or phone calls were just their price quote with the obligatory applicable "+ fees."
Since I live a few miles from Palo Alto, I really wanted to deal with Anderson and after carefully reading their email, I notice that their Low Price Guarantee will actually BEAT the lower quoted email price by $100!!! So, that would make it $20.986.00! :surprise:
After a few day's, basically waiting for 2 other Dealer quotes, which finally came @ $21,786, ... $21,586 by Capitol Honda San Jose & Larry Hopkins Sunnyvale respectively. Phone discussions with each didn't improve my lowest quote. Capitol Honda actually ??? matching and mention about the ending May 2 incentive (which I read about @ this Forum - thanks Dennis) and would check, ... but he never called back.
So, ... it was time to make an appointment with Anderson Honda in Palo Alto.
When I called in the morning, getting an appointment for May 4th was no problem, but getting a Eternal Blue Pearl was. They completely sold off their entire inventory of Accord 4 cyl. AT EXL sedans. The few they had were already sold or demo's, but since we (actually my wife) still wanted to test drive one and check out the colors during the daylight, we made our appointment for 5 pm.
After lunch about hour after my initial call, ... they called back to see if I wanted the Eternal Blue Pearl Accord that they found in Santa Cruz which they can get thru a Dealer trade, but after I was informed that it would have an approx. 80 miles on it since they will drive it to Palo Alto, I decided NO! They traded anyway so it was at the lot when we got there. While we were walking around Anderson's lot looking @ the different Accord V6 colors (Eternal Blue looked darker in person and the Desert Mist Metallic w/Ivory looked really nice), I had the salesman run over to the Santa Cruz Eternal Blue Pearl Accord and check the mileage (car was in their garage), ... it had 110 miles on it! Glad I didn't approve that, ... I want to put the first 100 miles on it!!!
After our test drive (Silver Accord 4 cyl. AT EXL sedans), he checked his computer log and the next three coming Accord 4 cyl. AT EXL sedans will be between the 6th to 9th (?) and their colors were Black, Silver and Desert Mist (which he called Beige). So we choose Desert Mist.
Final tally @ Anderson Palo Alto:
Price: .........$20,986.00
Tire Fee: ....$8.75
Doc. Fee: ..$45.00
8.5% tax: ...$1,735.06
DMV (Est): .$191.00
======================
TOTAL: ..... $22,965.81
We put $500.00 down to put our name on the coming Desert Mist Metallic Accord 4 cyl. AT EXL sedan (I have the VIN # :shades: ).
Anderson Honda in Palo Alto internet sales were very professional, polite, well informed about their cars and friendly. The whole process was extremely positive, probably the best experience vs. our past new car dealings.
Thanks for all the contributor's in this forum, with special recognition to Dennis (dwynne) excellent and very informative posts. ... for helping us to be fully informed prior to purchase.
Now the wait, ... it's either on the dock, train, or truck!?!??
Phil
I would not be so "anal" about the miles - I used to be like this, but on a family car it is unlikely that anyone abused the car during a test drive or something. The "runner" who picked it up from the other dealership may not have been so nice, so that is a little bit of a concern.
Unless you are looking at something like an S2000 having a few test drive miles on the car does not bother me. Of course it is nicer to get one with 2 miles on it if you can, but I would not walk away from a deal just because it has a few miles on it.
When I test drive (just for kicks) I always ask if they have a demo since I WANT to wind the motor up and drive it a lot rougher and I would not want to do that on what will be someone else's new car. Can't always do that, however....
My wife thought the blue was too dark as well. She liked the dark gray, but her favorite (and what we got) was the "desert mist metallic" AKA beige. It is a really nice color and looks spectacular in the right light.
Dennis
[Quote]
"The "runner" who picked it up from the other dealership may not have been so nice, so that is a little bit of a concern."
[unQuote]
That was one of my concerns also, the other one is that there is a mountain between Santa Cruz and Palo Alto (Highway 17 summit is 1,808 ft. - snow will sometimes close HW 17).
From Wikipedia, the free encyclopedia.
Highway 17, officially called California State Route 17, is a freeway and expressway that runs between San Jose, California and Santa Cruz, California. Much of its length goes through the Santa Cruz Mountains, where the four-lane expressway twists and turns along switchbacks from the Santa Clara Valley up to a summit point and then back to sea level in Santa Cruz.
If the car came from one of the several Honda Dealers within 10 miles of Palo Alto, I might be getting a Eternal Blue Pearl Accord (until my wife saw it - we can relate)!!!
Anyway, I plan to break-in my car on level ground for the first 500 miles or so, ... then maybe tackle a mountain road when we go up to our vacation house (3,800 ft. above sea level) in the Sierra Mountains later next month.
FYI: Already purchased - sent yesterday - Sche. Delivery today!: :surprise:
1) Splash Guards, set of 4
2) Heatshield windshield shade
Total: $74.79 w/CA tax and shipping from HandA-Accessories.com
Phil
Dennis
Terms and Conditions
2005 Accord LX Sedan Special Featured $199 Lease
$199.00 per month for XX months.
$1,499.00 capitalized cost reduction.
$2,493.00 total due at lease signing (includes first month’s payment, security deposit, capitalized cost reduction and AHFC upfront acquisition fee; total net capitalized cost and base monthly payment does not include tax, license, registration, options and the like).
Model CM5645EW (2005 Accord LX Sedan with Automatic Transmission).
Special lease rates available on all new 2005 Accord models. Offer valid from 5/3/2005 through 7/5/2005. Not all buyers may qualify. Subject to limited availability. The specific featured lease listed is not available to New York residents. New York residents should contact their dealer for New York featured lease. Terms and conditions vary for New York Residents. In addition, AHFC limits leasing terms to 39 months or less to residents and dealers in the state of Rhode Island.
Offer valid from 5/3/2005 through 7/5/2005 for new and unregistered Accord vehicles only and only on approved credit by AHFC through participating dealers. AHFC standard credit criteria apply. FEATURED SPECIAL LEASE: Closed-end lease for 2005 Accord LX Sedan with Automatic Transmission (Model CM5645EW). MSRP $21,090.00 (includes destination). Actual net capitalized cost $18,222.24. Dealer participation may affect actual payment. Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $7,164.00. Option to purchase at lease end $11,388.60. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year. SEE DEALER FOR DETAILS. The specific featured lease listed is not available to New York residents. NY residents should contact their dealer for NY featured lease. Terms and conditions vary for NY Residents. In addition, HFS limits leasing terms to 39 months or less to residents and dealers in the state of Rhode Island.
Louise
The price quoted was $17900 and $17800 for Honda Accord LX.(including destination charge) Edmunds quotes invoice at $18591.(automatic transmission/side airbags and all the other standard features on LX)
Any idea on why such an attractive price in the first go? I was all set to negotiate and now this just throws all my plans apart :-). Earlier - I had used edmunds and KBB as a reference to negotiate and get a car at invoice (a little below invoice). But that took several rounds. This price is in the first round itself. Is Edmunds showing the right price or do I need to be be aware of some fine print.
$17800 was the costco price. However, $17900 was straight from internet. Even costco prices are more than invoice according to my experience
Someone posted that SoCal dealers were getting a $1,000 or $1,200 incentive on the Accord. Hold back is $632 so the "dealer make no money" price would be $19,074 - $1,000 - $632 = $17,442 . If the incentive is $1,200 then $17,242. So with either number the dealer quotes you got indicate they will make some money on the car. Also, if you quotes do not include dealer fees then that will be more profit for them.
You are right, it is really hard to bargain down a price that is well under published invoice
Dennis
"Congratulations Phil on getting a good price. I got the same quote with AutoWest Honda, just didn't want to drive to Northern California. I ended up paying about $400 more than you did, OTD, because I live in Southern California! "
[UnQUOTE]
Thanks Louise!!! I read your posts above and Congrat's on your new 2005 Accord!!! What color did you get???
If you lived here, you'd probably use AutoWest Honda's quote to get another $100 off @ Anderson Honda in Palo Alto like I did!
FYI: I've heard shady stories from my Credit Union Rep and others about AutoWest Honda in Fremont.
UPDATE: Took delivery yesterday, ... I HAVE MY CAR!!!
I used the wrong Edmund's Invoice figure for my Accrod, ... this car I got has the PZEV engine so its a little more ...
2005 Desert Mist Metallic Accord 4 cyl. AT EXL PZEV Sedan
Invoice ......$22,171.00 +
Destination .....$515.00
------------------------
Total = ......$22,786.00 (based on edmunds.com)
------------------------
Final tally Anderson Palo Alto:
Price: .........$20,986.00
Tire Fee: ...........$8.75
Doc. Fee: ..........$45.00
8.5% tax: .......$1,735.06
DMV (Est): ........$187.00
======================
TOTAL: .........$22,961.81
My car had 5 miles on the Odometer when I looked over the car while the Internet Manager was inputting my INFO into their computer and I put another 5.5 driving home last night!
Didn't have much time to read the manual or look the car over since I had a group of family and friends over for my usual once or twice a month Friday NITE DVD presentation. Drove home just in time to say HI and start the movie around 7:30 pm. Oh yeah, we watched "National Treasure" on my 50" Toshiba HDTV. Dolby Digital 5.1 (I forced ON the Matrix-6.1) by JBL S-Series with LFE duties by my SVS 25-31PCi. (REFERENCED Calibrated using Dolby LABS DD-EX Test Tones)
Anyway, I did sneak out during the movie and I took some photo's just before sunset, ... you can see my 2005 Desert Mist Metallic Accord 4 cyl. AT EXL PZEV Sedan digital pic's HERE! :shades:
FYI: Here's my wifes 2004 Sage Brush Pearl Pilot w/NAV digital pic's album.
Well, gotta' go and read my manual and put some break-in miles on my car!!!
Have a great weekend,
Phil
Phil,
My new accord is Graphite Pearl. It's also a PZEV. I saw the pictures of your new family members.....good lookers!
Louise
Russell and Smith $23,619
Goodson $23,868
Gilman $24,300
McDavid $24,200
Today I took delivery from Russell and Smith. Driveout price was $25,331. I got 1.9% financing for 36 mos
THANKS
There isn't any other car as good for the price
Thanks
If it's a EX V6 with navi (you didn't mention V6), it sounds like a good price.
The only reason we didn't jump at the great deal was our anticipation of the 2006 model.
[UnQUOTE]
According to Consumer Guide Automotive ...
News
Honda reportedly plans a freshening for the 2006 Accord, which may include antiskid/traction control as standard or available for all models. A full redesign is said to be in the works for 2008.
----
The Internet Manager basically said the same to me when I ask about the rumored full redsign. Another 5-year design (2003-2008) cycle.
Phil