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Comments
Price : 19.750 (incl dest)
dealer doc : 57.33
Indiana tax and local fee? : 1203
drive away sticker (7 day) : 30
8/100 warranty : 850
Total OTD : 21.890
Dealer was good enough to pitch in mats
FYI, all Accords in all trim levels now include carpeted floor mats. Heck, I think all Hondas in all trim include mats now - maybe the DX Civic and the base Fit may not but most every Honda has them standard now.
That doc fee sounds like a Grand Honda doc fee - but it could be that fee is set by IL state law.....
Dennis
That is the way to lease anyway - deal on the car just like you were paying cash, then get the best deal you can on the lease.
Dennis
I thought I got the mats free
You are close on the location of dealer but not exact
For a 2007 I4 Accord:
8 years/100,000 miles warranty: $0 deductible = $826.00
8 years/120,000 miles warranty: $0 deductible = $926.00
So your price ($850) is probably $25 over dealer cost of $825. Nice deal.
Dennis
I paid the car in cash. Dealer did not give me the title. Says he will mail in 4-6 weeks. Is this normal?
I cannot register the car in my state without the title.
More on the buying experience at a later date
New cars come with a Manufacturer’s Statement of Origin (MSO) or Manufacturer’s Certificate of Origin (MCO) and not a title. I don't know if the dealers do not keep them with the cars, or have to get them from the manufacturer after the sale, or what - but it seems they never hand them out with the car - they always mail them later. Maybe they just wait for the money to clear the bank, I don't know. Normally they take care of doing the registration for 99% of their customers and probably 99.99% of the customers do not pay cash - so they have to file the lien on the new car, etc.
4-6 weeks sounds like a long time, normally this is maybe 2-3 weeks. You got a temp tag (paper tag, drive-out tag, etc) didn't you? You will need the MSO/MCO before that runs out so you can get a tag for it.
You take the MSO/MCO and your bill of sale and register the car, pay the taxes and registration, and get your state title and tags.
Dennis
Is MCO?MSO same as MSRP sticker on the car?
I know you would not do it, but folks have been known to pass bogus cashier's checks (my boss got one, but did not accept it for a BMW 5 series he was selling). So I am sure they always wait for the check or checks to clear before they give out the MSO - just in case. You have possession of the car, but it would not do any could should the checks not be honored - since you could not title without the MSO.
Dennis
I have no idea - what are your taxes and fees? How much are you paying for the car + destination? How much in dealer fees?
I can tell you the invoice for that car is $23,165 and MSRP is $25,645 so unless your taxes a REALLY small you are getting a good deal. Invoice plus a 5% sales tax would be $24,323.25 . I would say within $500 of invoice for the car+destination is a good deal. Left over 06 Accords (if you can find one you like) have up to $750 in dealer money on them so could be had for a lot less.
Dennis
MSRP is $29,995 and invoice is $27,074 so there is nearly $3k of negotiating room to work with.
Dennis
Dennis
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Dennis
so much for going out of state to buy :<
Dennis
Each car make has different "rules" for demo cars. Some do give the dealers a discount for actual demo cars and the miles need to be in between certain numbers. If this qualifies for a discount from Honda then the actual cost to the dealer would be less - but I don't know by how much.
I can understand why they are not wanting to lose money on the sale, but I think I would on pass this car at this price. I would not bother to make unrealistic offers - it just makes you look bad. If you don't need a car right away, wait until you can get a good deal on a new 07 with no miles. Or fly down here to the south and get one now for invoice or less and drive it back.
Dennis
i would like to know about the honda 2007 EX-L sedan w/o Navi.
is it V6 or V4 ???
how much did u pay for OTD ???
which dealer did u buy from ??
i m in chcago also.
thank you for your help !!!
Accord sales are down not surpisingly from last Sept. I expect there will be more incentives (Honda to dealer) to move metal.
The dealer is not returning my calls. I am stuck with a 7 day permit which expires in couple of days and my local DMV will not proceed without title.
Can I get temporary tag/permit? I dont want to spend additional money since I have to pay for permanent tag anyway.
Can I register the car later if I did not have a valid permit? I am not driving that car to work anyway.
However, I have gotten a couple of offers for an 07 Accord SE auto: $21,000 out-the-door. I think this is a good deal. What do you guys think?
The tax rate in MD is 5%. I was offered $19,893 (destination and document fee included) plus tax, tag, and title. This worked out to be $21,085 OTD. It sounds like you got a good deal up there in NJ.
I can definitely afford to wait. Why do you think prices will fall further towards the end of year? Is it clear inventory for the calendar year or because Accord sales are down?
I guess IL only gives on 7 day tags? Man, around here it is 30 days and you are doing good if you get your tags before the paper/temp one runs out. If we only had 7 day tags everyone with a new car would have it parked.
Dennis
For the Honda part of the equation, they look at "current days supply" on the lots and if that number gets too high then they will usually put dealer money on them (Honda never does rebates, weakens the brand and resale value). The dealer money is normally in the form of a sliding scale - you get $xxx per car depending on if you are under quota, meet it, or go over. This can be as little a $300 or as much as $750 per car. Once the dealer has hit their number (or is sure they will, for a deep discounting dealer) then the prices really get sweet. Some dealers may start the month not discounting as much since they don't know if they will make it, and at the end of the month (like the last day) may NEED to sell you a car really bad. See, if they get over quota they get the full discount for ALL the ones they sold all month - including the day 1 cars they would not discount. So selling you a car and not making much - no big deal since if they hit the number they get a TON of money back. This probably does not apply for months with no sliding scale incentives, but the dealership salesfolks and managers may have company incentives they need to meet.
Honda keeps making cars all model year and the more they get ahead of sales the more likely they are to offer dealer money. So this would normally show up later in the model year. October would spell trouble if Honda had to slap money on them now - it would be a really bad sign for sales. Once the model year gets close to the end then the dealer money may change from a sliding scale to a flat amount. I think most left over Honda model (except Civic) now have a $750 dealer incentive on them to help the dealers move them out. If you shop at a deal with 06 cars on the lot, you can bet they will not deal as much on the 07 partly because of the 06 money and partly because they really need to move the 06.
So by NOT buying now you hasten the time when everyone can get a deal
Of course, if you need a car or are driving some beater then getting a new car now may be a much better choice. Get a new car now means you have it longer before the depreciation sets it - get an 06 now and you take a HUGE hit when you drive it off the lot. No matter if you are keeping in long term, but something to think about if you trade cars frequently.
Dennis
Never say never...
Summer 2006 Honda was offering $750 rebates on Accord Sedans, $1,000 on Coupes.
BTW where can I buy the 8/100 warranty? Is it a common option in any dealership? Thx.
Best place for warranty is saccuchi honda or bernandi? The dealer cost for 8/100 (0 ded) is 825.
You got a good deal. I did not get any freebies and my car already had 84 miles on it.
I realize the name of the money wasn't rebate, but its purpose was the same.
Judging from this forum though, if you were any kind of shopper, you'd get this money in some form or fashion... dealers were making deals that were right around $700 under invoice. Not a coincidence.
Honda gave dealers that money because the dealers needed it to pass on to consumers to get them to buy Accords, otherwise, there'd be no point in offering such an 'incentive.'
Thanks for the very helpful insight. Do you work for a Honda dealer; or did you stay at a Holiday Inn Express? :-)
As the domestics found out, you give out big rebates and/o 0% financing and folks will expect it from then on and will just wait until the large rebates or cheap money shows up before they buy.
Having such deals on new product just kills the resale value of the used cars. You can't sell a 2-3 year old domestic for much money when the manufacturer is doing 0% or $4k in rebates.
A lot of folks think that Honda dealers are like Saturn, no discounts and haggles. It was that way for a long time - remember the waiting lists to get new cars from 20 years or so back? Since Honda does not show the end user the discounts a lot of folks still think they have to pay near MSRP for a Honda - and the resale value of a used Honda remains strong - partly due to super reliability and partly due to the high price so many folks pay for a new Honda.
Dennis
Web page link
You can get a free web quote online. Last time I check 8yr/100k/$0 was $826 but there are tons of options. You need to buy before you hit 6k on your new car or the rate goes up/options go down.
Dennis
Or better still, like a general going into battle you learn all you can about your opponent before attacking :shades:
Some of this is common sense - at the start of the new model year supply may almost always lag sales and the "best" time is when supply way exceeds sales - which tends to be closer the end of the model year.
I just heard on the radio that Hummer is having trouble selling trucks (even with rebates and low APR loans) so they are closing a plant for 2 weeks. In October just into a new model year, that is pretty scary (for them).
Dennis
Dennis