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My out the door price is 23600 which is 375 under invoice. My bad. I said 500 under invoice.
23600 minus 300 sales tax minus 460 destination equals 22840. Invoice is 23215, a difference of 375.
You got a great price, the best one of all the people in this thread. Good luck with your purchase;o)
but i still don't get how you've calculated the price
initala price 22840
add destination: 22840+460=23300
add tax: 23300*1.06=24698
document & dmv: about 200
total: 24898
1) as informed by fotomaniak, special interest promo by Honda for Accords is 3.49% (rule of thumb: 1% = $5/month for 48 months for amount financed of $15k), and
2) for those interested in an interesting alternative for an Accord 4-cyl, an Acura dealer and a news item (on USA Today or CNN online) confirmed that Acura is launching early 2003 the TSX, the tidier-sized European Accord. You might have seen this in a recent car magazine (you can also view the car by Googling Honda of Europe). I'm guessing that the price is near the RSX, in the low 20s. The Acura salesperson said the top engine is a hi-output (200hp) non-turbo 2 liter. If you don't like the serious family car personality of the Accord, the TSX might be an attractive option.
Planning to buy the vehicle in next 8 days.
Thanks
Am in Nebraska (Omaha area) and have decided to get a little more serious about a new Accord. Looked at a silver EX-V6 and told the salesman we were thinking of buying before the end of the month, and no trade-in and possibly cash. The best he would do was "around $25,000.) This is, as you all know, WAY ABOVE invoice ($23,600 which includes dest. chg. of $460.00) and considering I read where there is a dealer holdback of 3% off MSRP ($26,260 which also includes the $460.00) shouldn't we be looking at a price much closer to the 23,000? The TMV price from Edmunds is $25,367 (which includes the $460 dest. chg.)so guess I'm puzzled...is the TMV realistic? or should we really be trying to get closer to the $23,000 figure? Accords (new) seem to be a really hot number right now, so don't want to appear "out of it" by calling back and asking them to reconsider (closer to invoice) if that is really not be reasonable.
Anyway, like I said, H E L P........thanks.
Thx
My past 3 Accord purchases at-invoice were from the 2nd biggest US Honda dealer who could "afford" minimal profit on a unit because they could realize fat margins on other sales.
Meaning, each unit to a dealer is a potential profit source and consequently, a low-volume store holds on tighter to each unit. For the high-demand Accord, dealers get inventory allocations depending on sales performance.
That said, chances of getting invoice and even below are best with high volume dealers.
If there's no one in your area, it's not unheard of for buyers to drive or fly far to said dealers if the travel cost is offset by potential savings.
Particularly if it's a cash purchase, the transaction is simple enough to swoop in, deal and drive, or return empty-handed without a significant loss. Personally, I'd find a dealer within reasonable driving distance.
You might want to call 2 or 3 dealers in the same area before setting off so you have contingent vendors if someone tries to bait-and-switch you.
Lastly, I'm almost certain you'll get invoice pricing from that volume mover if the purchase is made on the "11th hour."
Excuse my ignorance. What do you mean by "the 11th hour"
Excuse my ignorance. What do you mean by "the 11th hour"
If 15k/year or 45k/3 years is acceptable (because this is a bargaining point), I'd attempt $305/month for 36 months, 45k/3 years, no money down.
Reason here is that $320 equates to an unusually small residual value at lease-end, or the car's expected resale w/45k. Specifically, the rate shows a 17% depreciation rate/year which is unreasonable for a Honda Accord even if w/manual tranny.
Basically, lease rate is $ depreciation/36 months times a reasonable interest rate or "cost of money."
Ultimately, however, lease rate like a condo in a nice area may ignore the exact math and instead follow "what the market will bear," short of being tantamout to a purchase if the lease payments were added.
This, I believe, is what Honda is doing to you. They know you want a rare model, they have it, and they're making you pay for it.
I would consider a purchase to possibly reduce your cost. Sorry don't have time to research on manual trans resale values in niche markets (later resell well-kept car to tuners/stick enthusiasts) but this could be a viable option.
Lanier Honda is a small volume mover, probably explaining why they're price-gouging.
Samaritano: "11th hour" refers to the closing hours of the month when a dealer could sell with minimal profit just to hit sales quota/get new stock.
~~Mike
The dealer holdback is to pay for things such as rent of property(car's gotta sit somewhere, as does the building), the interest of the vehicle(the dealership still has to buy them), and overhead such as electricity.
I would honestly think that a high 23k-low 24k would be a good point to expect to be. Let the dealer make a grand. That would be 23,812.20. You can shoot for 23k if you want, but will most likely not get it since(from what I've seen) there are no rebates OR M2D incentives right now.
If you only think the vehicle is actually worth 23k, and they won't give it to you, then walk. Buy something you believe is worth what you are paying.
As an FYI, the local "internet Honda Dealer" in my area is doing about 600 over invoice no hassle. That would be about 24,1 but that was also on Nov 1, so they may have moved a bit... It also depends on where you reside. If you reside in a area that is good to Honda's(read sell well) they will not budge much especially if they have little or no competition. (why would they?)
Anyways. I did email 5 different dealers last night. Im interested in the 4 cyl Coupe or sedan EX-L with 5 spd/man. Edmunds says $21159 and $21069 inc/destination charge respectively. I told that i knew the invoice of the car and the dealer holdback of 3%. Lets see who gives me the best deal.
Probably someone else not you, but wanted this opportunity to clairfy that holdback is deducted from invoice price. Thus, quotes reaching you must include invoice, destination & sales tax (based on new vehicle/old trade difference) to produce true "purchase at invoice." Good luck.
1. What dealer did you go to?
2. In Fl., on the lease do you pay sales tax on the monthly payments or up front?
3. And is the tax based on the lease payments or the purchase price?
Thanks
25000 is too much. If really wanted the car soon, I would pay 200-300 over the invoice, not more(I got my car at the invoice in NJ).
Are there more dealership in your area? they don't have to be really close, all you need is to get several price quotes, then call the dealer that is closest to you and ask him to match the lowest quote you've got...
also, try to call sales manager directly(skip the sales person) and tell him that if he sells it for Invoice +200 you'll buy today, that might work.
"0-60 in 6.6 sec" take it easy for the break in period first 200 miles no hard breaking, first 600 miles no full thr. acceleration
if you tell them you got 4.7 rate from let's say people first... then they will gladly beat it and give you 4.5 rate... and keep 1% difference for themselves.
Has anyone recently bought 2003 Honda Accord LX 4dr Sedan in chicagoland area, could you please tell me how much you paid and which dealer.
Thanks in advance
Thanks
Try Mel Rampton Honda. Ask for the internet manager and tell him that you want at least as good a deal as he sold to me out in Utah. I flew in to Sacto for turkey day and drove my new ride home. Did the deal over the phone and there were no surprises when I got there. About $200.00 over invoice for base exv6 plus cost of extra goodies. By the way the auto dimming mirror is a must.
They'll also make a big deal of the mudguards, "first finish" paint protection and sunroof deflector.
When I bought mine, an EX-L auto like yours, I thought those 3 items were overpriced and wasn't sure if the deflector was standard anyway. Somehow I managed to still get pure invoice; maybe it was the month-end pressure on them.
For a cost perspective, I got a factory deflector for another family vehicle (Mitsubishi) this year and paid $75. Special paint protection is something I can buy, I believe, from Pep Boys for $50 at most. Factory mudguards ? How about $80 max. In all, one shouldn't pay more than $200 for the add-ons.
But see if you can avoid these gravy items by buying last minute.
You pay the sales tax with your monthly payments and the tax is based on the amount of the lease payment - not the purchase price. Hope this helps!
Thanks for the tip. Was the EX V6 you purchased with leather + floor mats for the $200 over invoice? How did you establish the $200 over invoice as your bargaining position, ie did you start lower and then settle with the manager for that deal? Finally, I was also looking at getting the auto-dimming mirror. One dealer quoted me $450. Were you able to get it cheaper? What other "goodies" did you get and for how much?
Thanks again!
after some negotiation I got a auto day/night mirror from the dealer for $210
originally dealer wanted about $400 for it.
but I called second dealer and they quoted me same price on the car and lower price on accessories... so I was able to get this price for first dealer.
find several dealers who are willing to sell you car at acceptable price (preferable the invoice price) and then get qoutes for the parts from them, you can also find out what are their document/dmv fees.
then comalculate total price for each and compare...
If you can get in touch with finance manager they probably will give you better prices on parts than sales people.
if your dealer is not willing to lower the price you can buy the mirror from hparts.com (for about $180 + sh&h) and pay for the installation... (or install it yourself)
the dealer will probably say that they don't want to install accessories that you buy from somebody else... what you can do is:
just buy a car without the accesories
and then
1) buy accessories and install them somewhere else
2) after you buy the car, call several dealership's parts dept and ask what price they can give you, I won't be surprized if it will be lower...
there are installation instructions for these and many other accessories at handa-accessories.com
from what I've read it appears that mudguards & moon roof visor are not very difficult to install(no drilling required)
for the auto day/night mirror you would need to run the wire and connect it somewhere...
I've also got spoiler for $490 (inital quote for $595)
Moon Roof Visor for $75 (they tried to charge me $189 for it...)
dealers try to put profit in to everything they sell... and as you can see they put lots of profit in to parts...
what I've noticed that dealers quote parts differently
i.e. one place quoted me spoiler for 500 and mirror for 400, other spoiler for 600 and mirror for 300
So now we are dealing with Gwinnett Place Honda. They have the car we want coming and so far they are at $21,800. But the saleswoman said she won't be able to give us her best price over the phone. We need to come in when the car is actually there then we will have more bargaining power. We made an appointment for Thursday so we'll see.
Our max price is $23,000 including mud guards, spoiler, auto dimming mirror, fog lights, body-side moldings, fenderwell trim, and chrome exhaust finisher. Base invoice is $21,100 so that gives them $1,900 room for the accessories and their dealer fees.
mike: Is that price for a sedan or coupe at hennessy? And I assume it's a manual transmission?
what do you think!!
Do you think it's too risky to wait Dec 31 and keeping same terms, ask them to throw in a spoiler, 8-disc changer (14 discs !) or MP3 player ?
How to pull this off is to ask another dealer if they'll give you one of the freebies at the same terms, then ask your first dealer to match.
What's good about doing this, assuming they agree, is that you're getting the accessory at 3.49% interest since it will be wrapped into the car's price, which is at that interest rate.
Bought separately with a credit card, interest as you might know approaches 22%.
Best of all is if you can get your car plus the accessory at the initial terms.
I am looking to buy Honda Accord LX, talked to few dealers. There is this one dealer in chicagoland who is willing to sell the car much below invoice(approximately 600$ less), I have not visited them yet. But the dealer who are close to my house claim that he is selling the damaged car after being fixed. The advertisement does not exclusive say it is Brand New Honda, it only says 2003 Honda(that is the difference that other dealers pointed out).
If any one has any idea with this kind of situation, please shed some light.
I appreciate that.
Thanks
Bob
manager, go to a floor salesman, have one of the internet auto sites send my particulars to dealers? What do I start my as? What would be an acceptable price? Finally is this a good time to buy to get a good price or should I wait. Thanks.
in any case don't pay more than $100 above the invoice(I've bought mine at the invoice on saturday)
make sure you don't pay too much for the accessories
compare prices www.handa-accessories.com with the price dealer quotes you... if the difference is more than reasonable labor cost then negotiate.
see my previous post, about prices I've got for accessories
looks like you paid close to invoice for the car... now if you get a refund for you warranty the price of the car will be below invoice...
Even if you do want the warranty, you can
1) cancel the contract, get the prorated refund (should be about 1200-1400
2) go to www.hondawarranty.com buy extended contract for about $700 7yr 70000miles
(when you fill out the form to get a quote they will e-mail you a coupon for $75 off, it's valid til the end of the year)
3) keep the difference;o))
good luck!
Igor
Geez, it sounds like far too many of you spend way too much of your time worrying about a few hundred dollars. Figure out how you’re your time is worth per hour and see if the time investment really pays off I bet it costs most of you more than you save.
Find a local dealer with a good reputation for honesty and good service then "allow" them to make a few bucks. Where is it written that the only fair price is a dealer’s cost?
Do you think good employees, services, and facilities are free? Retaining good employees is tough enough in any industry without customers who insist on having everything for nothing.
And forget about holdback - it's a myth that dealers profit from holdback. It is designed to cover fixed expenses. Besides, do you realize that most salespeople aren’t compensated on holdback? For all the hell you put them through that salesperson probably only made about $100, pretax.
Hondas are arguably the best vehicles on the road and you guys are trying to steal them. And you wonder why so many dealers (Honda and otherwise) have such high turnover and can’t seem to provide decent service. Take a look in the mirror.
Sorry for the rant.
Looking at the nature of the business, and the way it is being conducted, however, suggests the following:
1) As an unregulated industry where consumers make their second-biggest lifetime investment (after the house, but may even be more considering that one could own more than 7 cars in a 35-year period), value-hunting and intense negotiation are unavoidable.
2) Not improving things, and most likely what started it all, are car retailers maximizing profit from each deal. After all, they are legit businesses that need to survive.
The question is: since retailers have more odds stacked in their favor, shouldn't the "fair price" practice start with them ? They should (as Saturn did), but won't, and probably never will.
Case in point: when buying an 03 EX-L last month, dealer quoted me $150/month more than the final number - potentially $9000 over invoice if I didn't come in prepared. Legit ? Yes. Fair ? No. Result: "Buyer Beware."
The monthly payment is an important profit tool of the retailer ("adding only $10/month covers you for regular maintenance for 45k mile" sounds reasonable until you realize that for a 60-month note, you'll be paying $600 for oil & filter changes, tire rotation and fluid checks worth $200 at your local tire store).
3) Even if all the internet-savvy, value-hunting, month-end buying car purchasers like us got together, we would comprise only a minority who "help" car dealers hit a sale quota and/or move inventory at little or no profit. Legit ? Yes. Fair ? Yes (if not, all the car dealer needs to say is NO).
Meantime, the majority, like my busy sister-in-law and my negotiation-averse cousin, will continue to pay prices that will support the car retail business.
4) Finally, if we as the minority agree to start paying $500 over invoice (or something like that for "fair price's sake"), will it be be enough to start a "fair price" practice that will stop $9000 over-pricing and $600 oil changes/tire rotations/fluid checks ?
www.hondawarranty.com
you can buy 7yr 100000 miles warranty for about $900 from this site for Accord 4 Cyl
(they will e-mail you a coupon for $75 off when you request a quote, I think the disount is only till the end of the year)
you can buy it after you buy the car.
I got warranty from the dealer for $699 when I bought the car (EX V6)
The funniest thing is that if a dealer came up to you and said: "I'll sell you this vehicle for 20,349" and it was a 23,000 vehicle with an invoice of 20,500 you would question why you are getting such a good deal... "what's wrong with THIS vehicle?" Maybe they want to blow it out... Maybe their sales are down, who knows... sometimes it seems that folks bring long, drawn out negotiations upon themselves, and unfortunately salespeople seem to willingly oblige to give the "facade" that the dealership got "beat-up" in a deal so the consumer can have an ego trip.
Is it worth haggling, ruining long-term relationships(sevice, etc), and plain wasting time over a couple hundred bucks? Nope, at least not to me.. After all, unless you plan to pay cash, the savings(say 300 over 5 years is about 5/month) and I pay more than 5/month in grocery store profits. Nevermind fast food, gas, clothes, etc. Of course, I don't recommend paying more for a car than you think it is worth, just don't buy it if you can't get it for that much. =o)