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Then educate us:
Go to the Edmunds new car page here and see what it shows for MSRP and invoice, and selling price (TMV) for the car you got the report on. See what incentives it says (none, since it is an Accord). Edmunds will also show you than hold back on a Honda is 3% of base MSRP.
Go to carsdirect.com and put in your zip and see what it shows for MSRP, invoice, and selling price.
Go to kbb.com and look up the MSRP, invoice, and "KBB price" for that car.
How do they all compare to what you paid $12 for?
The hold back is no mystery, it is simply (on a Honda) 3% of MSRP w/o any options or accessories.
Any time there are price changes mid year, normally the price changes for both dealer and MSRP. So if Honda raised the MSRP $100 in Feb, then the dealer invoice went up $100. So if you see a car on the lot with a slightly different MSRP, you can use the difference to calculate the slightly different invoice.
So educate us on what is is exactly you are getting better for $12 than we get for free over the Internet. I am a long time CR subscriber and I really thought I could get a ROI on one of their $12 packages I would spend the money - but I do not. Perhaps you can show me the error of my ways?
Thanks,
Dennis
So, for those reading this Forum, I want to say that my purchasing experience @ Anderson Honda in Palo Alto mimic's Louise's, including paying cash!!! The owner of Anderson Honda called Tuesday May 10th to see how everything is going, etc. and now I'm just waiting for the survey to come in the mail!
I want to thank Edmunds.com for hosting this Forum!
Thinking back, between April 29-30th, ... while I was still doing my research on the Accord 4 cyl. AT EXL, etc., ... naturally, ... one of my internet Car REFERENCE INFO sources is Edmunds.com.
Looking deeper @ Edmunds.com menu, I found this Honda Accord Forum and started reading all the posts in "Honda Accord: Prices Paid & Buying Experience" dating back about two weeks!!! Reading all of Dennis (dwynne) posts were Very Informative and Helpful!!! Thanks Dennis!!!
But the post that got me to take the next step and gather a number of Dealer email /phone QUOTES was, ... Louise post #7514 - Apr 29, 2005. One of the email Dealer Quotes she got came from my neck of concrete buildings, ... and that was from AutoWest Fremont! I live about 20 min's from there which is located on the east side of the SF Bay. Thanks Louise for taking time to post your buying experiences!!!
Now in hind sight, in my case the whole process happened rather quickly ...
1) Sunday May 1st - "Get Dealer Quotes" Edmunds.com option (got 6 Dealer QUOTES)
.... a) Quotes ranged between $600 to $1,700 below INV w/Dest.)
2) Monday May 2nd - Worked an email/phone deal with Anderson Honda
.... a) Verified they will Beat my lowest Dealer Quote by $100 - which made it $20,986 + fees
.... b) Anderson emailed me OTD estimate, ... which was a little more than what I finally paid = $22,961.81 OTD
3) Wednesday May 4th - Made an appointment to test drive, choose a color from the coming three 4 cyl. EXL Sedans
.... a) They sold all their remaining NEW 4 cyl. EXL Sedans last Sunday May 1st - the last 2 were Graphite Pearl.
4) Wednesday May 4th - Choose Desert Mist Metallic and put $500 down, later they emailed me the VIN #
.... a) The other 2 colors were Black & Silver - all 3 cars arriving between May 5th to 9th.
.... b) Now the wait! ...
5) Friday May 6th - Took delivery
.... a) Like Louise's experience, we were there about an hour and a half
.... b) No hassle or haggle - all were professional, knowledgeable and friendly.
Phil
Pic's of my 2005 Honda Accord 4 cyl. AT EXL PZEV Sedan
What exactly are the 6-Speakers and where are they located?
http://www.edmunds.com/insideline/do/Drives/FullTests/articleId=76668/pageId=32854
It says: Speakers include a bounteous pair of 6-by-9s on the back deck, plus a pair of 6.5-inch full-range drivers in the front doors. These are complemented by a wonderful pair of tweeters tucked into the corners of the dashboard, firing upward into the windshield glass and reflecting into the cabin.
Louise
No attitude, just let the rest of us know what is better about the service. If it is indeed better, then you would be doing the rest of us a service by showing us.
Dennis
Tricket seems really nice, but they also seem small time - and really don't deal well on price and are not in the same league for deals as other dealers.
The Redell sales manager is really nice, but again they were not interested in selling a car and making just a little.
Waltrip will deal, you have to work them pretty hard, but they will deal. They have a $298 doc fee so you have to always keep that in mind when shopping.
Lucky for me, I found the forum before we got my wife's new Accord. I found a dealer in the Atlanta area they gives out nice prices through a posting here. Then I found a dealer in KY through folks here that can normally beat or match those prices. In the end for us, Waltrip got "close enough" and we got the car from them and saved the long drive. Without knowing from posts here and elsewhere about factory to dealer incentives I would have probably accepted a price a little over invoice as a "good" price - instead or well under invoice we paid.
Dennis
College Park Honda in MD quoted me a price of $24500 for Accord 4 dorr EX V6 with NAV. Is this a good price. Why don't Honda make 4 door V6 with Manual. It would definitely make my life easy??? BTW MSRP is $28800.
Thanks
What they quote (in this case less then invoice) and what they actualy sell you the car for OTD is very different. I take a quote like a grain of salt.
If an OTD price involves a demo or a trade I also take that with a grain of salt.
Congratulations! I'm glad you found the Forum and our members to be so helpful. It's great to hear about a positive buying experience, and the pics look great. Enjoy your ride!
kirstie_h
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Current Invoice is $26,471 including destination, which is the same $515 to the dealer.
So I bet on your quote the dealer will add the $515 to your "quote" to get $25,015 which is still way under invoice.
Hold back on this car would be about $880. So if we take invoice - hold back we get $25,591 - and your price is more than $500 below this.
I would guess either MD dealers are getting an extra incentive or they plan on tacking dealer fees on the deal or ripping you on a trade. It could also be a "demo" car or something as well.
I would ask them for a cash price for the car including destination and all dealer fees (but no tax or tags) and no trade and see what they say.
Dennis
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&category=6254&item=4550134627&rd=- 1&ssPageName=WDVW
that looked like a very aggressive price. Any objective opinions would be welcome. I'm willing to travel within or even outside the tri-state area if anyone has a dealer or salesperson that they recommend.
One last question. My local dealer told me today that if I purchase the car from another dealer, they are not required by Honda to service the car. And that they have so much service business from "their" customers that they will turn away customers that didn't buy the cars from them. There is a sign in the service department that customers that buy the cars at that dealership will have "priority" but nothing about flat-out refusal to do the work. I figure that this is just a scare tactic but I'd be interested to hear if anyone else has been told anything similar at their dealer. FYI... I've purchased my last two Honda's (Odyssey & Pilot) at a different dealer and service at the local dealer has never been a problem.
Last year my car suffered minor hail damage. The repairs were done at the dealership and instead of dinging out the dents, they replaced the trunk, hood and top roof(this was done on the advise of my insurance company who said that it would retain the structural integrity of the car). My insurance company paid the dealership $7K to get it fixed. Since they were replaced with new parts, the car looks like new. They also took care of the few door dings that were present.
My question is. does this hail damage effect the selling price of my car? If so by howmuch? What will be a price I can sell it for?
Any information is appreciated.
Thanks.
AMT-
Price: $16,200 +TTL
That's what I paid for my EXV6 with Navi. My only option was factory installed mud flaps. Depending on the monthly factory to dealer incentive, You may be able to get it down another $300-$1,000.
Thanks.
The service department stuff is just BS, they can't refuse to work on the car. The COULD make you wait or treat you bad. But most car dealers and service departments thrive on "ratings" by customers. That can determine rewards, trips, and even allocation. If you had problems getting a car serviced you would give them a terrible evaluation on the service survey and complain to Honda HQ every time this happens. Most dealers would not want this kind of attention. Besides, its a Honda - so all you are likely to need is routine maintenance anyway
Dennis
True "OTD" prices are completely meaningless here, since we have no idea what kind of taxes and fees are due in your state.
I can tell you that invoice on the car is around $26,500 and most dealers don't deal NAV cars as cheap as non-NAV cars so $27,000 might be a decent price for one.
You can price the mirror, lights, and trim and H&A (Handa) and see the parts at a discount are $600 or more (depends on how many wood parts you are getting). The fog lights are a pain to install, so figure $100-150 in labor.
Given all that, if you got the car, destination, accessories, and dealer fees for $28,300 it would not seem like a bad deal. If the $28,300 was a REAL OTD price including all taxes, tags, title, and other area fees then it would be a really nice deal.
Dennis
Dennis
I am quite pleased with the purchase and glad I did not go with the LX trim since it offers amenities that I do not use (cruise control, map lights, center arm rest in rear seat, power mirrors, keyless entry). For me, those extras are not worth the $2000 extra.
I really tried to convince myself to go for the LX, but in the end I realized that I could buy a plasma TV for the $2000 I save (or put a bit more money into my investments).
So, 26,468 + $1,716 tax = $28,184
I also paid $101.85 for Gov't Document Stamp Taxes, $202.35 for Registration.
Here's where it got interesting.
We initially started off with a 60 mos loan at some rediculous interest rate. 7.4% or thereabouts. Interest rates have risen a good bit. Have been tracking my FICO on Equifax and according to Equifax one should be pretty happy with a 6.594% rate if your score is 690-719. I am a 708. Here's what Equifax is stating is average auto rates for Florida:
720- 850 5.744%
690- 719 6.594%
660- 689 8.598%
620- 659 10.420%
590- 619 13.540%
500- 589 15.532%
I told the finance guy flatly that I understand it's his job, but if he didn't give me a shiny happy number, I was prepared to simply walk away.
I was there in the finance office about 1 hour. I had printed up stuff from bankrate dot com and according to them an excellent rate for Orlando banks is 5.5%.
My goal was to get under 6.5%.
When I showed the guy the Edmunds page with the 3.9% for May he 1st stated that one needed a 730 or above to get that even though it states no restrictions.
So, he seemed to stick with high interest 60 and super high (10%+!) 72 mos loans for a while, but I just wasn't ready to swallow that.
I asked again about the 3.9% deal. Now he tells me that is a "package deal". Uh, huh.
Situation was that I had a bankruptsy 9 years ago, and this was my 1st car loan. So, that 3.9% went to 4.9%.
In order to GET that 4.9% I had to swallow pure dealer profit items as follows:
Tire/Wheel Plan - $299
Extended Warranty - $835
Maint Contract $492.00
So, the two items above plus the dealer "package" that I was "forced" to take came to $1867.20
I even told him the items above were pure dealer profit items and he knew it.
I asked him to print up both the 4.9% with those items and a 72 mos loan.
The total amount financed on 4.9% is $29,051.81and the monthly came to $546.91
Looking at the 72 mos loan was just too rediculous even if it saved me $40/mo now...it was over 10% APR. No way.
Oh. One cool thing was that since I was only putting $1k down the bank (Honda Financing) would only allow $1k in dealer options. So, I decided not to get any options.
Thing is- they had to get my Graphite Pearl w/ Navi from another dealer and they had mud flaps, wheel locks and the trunk tray already on it.
I kept wondering when they were going to take the stuff off, but they didn't.
So, at least I got mud flaps, wheel locks and a trunk tray for free.
Am I happy about having to swallow those dealer profit items? Nope.
Thing was that I *had* to have transportation starting Monday AM as I'm starting Real Estate school, and did NOT want to rent a car.
Also, the next clostest dealer contacted me once, but wasn't agressive at all...and was $500 more than this dealer to start with.
I asked him if they'd match the initial price and he hesitated...then said Yes...but it didn't sound solid.
All in all, I'm pretty happy about getting the 4.9% APR with this being my 1st loan and having a bankruptsy in my past.
I see AMERICAN HONDA FINANCE SERV did an Inquiry on Equifax yesterday. Looks like everything went though OK.
This is my very 1st new car. IF I wasn't educated my Edmunds, for sure I'd ended up paying some stupid APR.
I also inquired about leasing 36 mos, 15k per year with zero down and was quoted between $450-$475 + tax. Mileage penalty was .15 cents so that wasn't nearly enough incentive as opposed to buying.
I also had to pay 6 mos of insurance in advance, because I needed a temp insurance slip fax'd to me. Rates were good at $83/mo for full coverage through State Farm.
Oh, this is through Classic Honda in Winter Park (Orlando) Florida.
If I had transportation I would have been more firm on that 3.9% 60 mos Honda Finance offer and told him to run it and get back to me.
But, now I have the car I wanted at a good APR for my history. Graphite Pearl was the nicest looking color to my eye- only one with a nice metallic shine going on. I waited 3 days to get that color.
The car had a full tank of gas as well. Read the Navi book last night. Very cool.
Overall, pretty happy even knowing I paid some pure profit items...
That stuff may come in handy one day- ya never know.
Hope this helps some people out.
Regards,
Dean
Isn't Honda Finance offering a 1.9% rate on Civics and Accords? I don't see why your APR should be so high.
Dennis
Butler
We are thinking about buying one and we know what the sticker says for MPG but would like the actual MPG any of you fine people that give such great input in this forum.
Thanks in advance!!!!
I do drive the speed limits...
I live in VA and none of the Northern VA dealers would come close to the price. Is this guy at OpenRoad Honda legit? Anyone worked with him in the past? Is that a good price?
Unexperienced in buying a car over the phone/internet.
Any suggestions/comments would be appreciated. :confuse:
Does this price include processing/documentation fee? Usually dealers charge anywhere from $45 to $300 or even $400 for this. You should ask for the price including destination and processing fees (i.e. just before TTL) to be able to compare prices on a meaningful way.
See posts 7397, 7398 and 7399 (April 21), and Rosenthal Honda (located somewhere in VA) quoted approximately $20,307 for the same car, including destination and processing fees.
Good luck.
Thanks again.
Dennis
Not on a 60 mos loan. 60 mos loan is 3.9%
That's for the 36 mos loan- I believe.
This means that come the end of the month if a dealer needs a few units to make his goal, he will be very motivated. If he has already made his number however he may not be as aggressive.
The number I was quoted on a BRAND NEW Accord EX-V6 sedan was
$23,100 plus
Taxes 6%
Tags
Doc
etc
For an NJ customer the # was $25,000 OUT THE DOOR.
This includes the $750 incentive and approx $800 in holdback.
I know he was serious because he presented me with a buyers order with these numbers ($25,000 OUT THE DOOR). I only passed because I wasn't ready to buy just yet, and if he needs to move a unit on the last day of the month I can save another $100 - $200.
If anyone else has additional info on this program please share.
Car_man, "Rebates, Incentives, APRs - Questions & Comments" #2841, 9 May 2005 7:26 am
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This was before I heard about carsdirect. The carsdirect price is 20,700.
My question: how is the carsdirect price less than the invoice-less-holdback? Is this the volume rebates kicking in? Just how badly did I get screwed?
Hold back is 3% of MSRP so you can figure that. From March through May Honda has been giving dealers an incentive based on sales goals. The top number was $600 in March, $750 in April, and $900 in May. So if the dealer knows or plans to qualify for the top incentive, then invoice - hold back - $900 + some profit COULD be the price.
As was mentioned, not all dealers get the full incentive. I think every one that I talked to in March made it for the $600, but I am wondering if Honda raised the bar since then.
You got your car for $400 under invoice, which is normally not bad for a Honda. Without knowing about the incentives hard to drive a better bargain.
Dennis
Justin