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Comments
Selling Price : $24,000
Accessories: $85.00 (For Splash Guards.. It was already installed, and sells on the Honda web-site for $99.00 w/o installation and $149.00 w/installation.. So I figure it's okay? )
OTD: $26,349.64
Larry Hopkins had the same deal, but not the color that I decided on.
Honda is also offering financing at 3.9% APR up to 36 months and 4.9% APR up to 48 months.
And oh yeah, I love the car..
The invoice shown on edmunds.com is $24,963 (destination charge included). And factoring in the splash guard as $100+, so you are getting it $1100 below invoice?
- nk
That's great. Can you please break down your OTD to show the sales price (including destination)? I'm also in LA and looking for the same model this week.
Thanks
i'm assuming that was the OTD price?
what is the sales tax for AZ?
thanks
me it is a good deal or not? thanks.
I live in Baltimore and I am thinking about buying a 2007 Honda EX manual. You sound like you got a pretty good deal, what dealership did you go through?
If they are using a 3.49% interest rate for the sale, it appears that they are using an OTD price of $25,200, which is about the "what others are paying" as listed on the edmunds calculator. Can anyone tell me
Can anyone tell me:
(1) what money factor a honda dealer is likely to use on a non-factory-subsidized lease;
(2) what interest rate a honda dealer is likely to use on a non-subsidized sale; and
(3) what the OTD price is for a 2007 Accord EX-L coupe (cool blue) with 4 banger and auto trans?
Thanks
You should find the non-factory money will not be as cheap as Honda money right now - lease or purchase.
Through 12/4 they have:
Special AHFC A.P.R. financing available on all new 2006 and 2007 Accord models. 3.9% APR financing for 24-36 months and 4.9% APR financing for 37-60 months available to customers who qualify for the AHFC Super Preferred credit tier.
If you check the rate at your bank, credit union, or online at CapitalOne you should find the Honda rate much better.
Ditto the lease. The I4 EX-L SEDAN 36/36k residual is 60% and the MF is 0.00220. The residual drops to 58% with a 36/45k lease. I would assume the coupe numbers to be similar, but I do not have them. If you check the 3rd party number at www.leasecompare.com you will see that can do 0.00258 to 0.00280 and 53-55% on a coupe.
Pretty fishy the lease payment is $299, don't you think?
Don't play payments with the dealer - you will likely lose.
Do the deal the right way - deal the car, deal the trade, make sure you are getting buy rate on the lease or finance.
Dennis
On a separate note, how does the I-4 Accords compare to the V-6 models? I've owned a 2003 Accord EX V-6 Auto, and currently have a quote in hand for a 2007 Accord SE V-6 Auto, but have never driven the I-4 model. Is there much difference?
Ex
IF THAT DOESNT WORK TELL THEM THAT ANOTHER HONDA DEALER (AT LEAST 50 MILES AWAY) IS DOING THE SAME PRICE ...BUT YOU RATHER STAY LOCAL...(THAT SHOULD WORK)
IN CASE IT DOESNT DONT BUY THE CAR ....GO TO ANOTHER DEALER SIMPLE AS THAT
Between the SE V6 and SE I4? More money, more power, VSA (stability control), and traction control, larger alloy wheels, and brake assist. The I4 EPA numbers are 24/34 VS 20/29 for the V6. Real world numbers are a little lower on the I4, but it depends on how you drive.
Most folks say to drive the I4 and if it seems to have enough power for you, then don't drive (or buy) the V6. Having driven the V6 first, you should try the I4 but I would not do it back to back
Dennis
Dennis
It is an amazing deal.
You have your way, but it isn't necessarily the only way.
(PS: You may not know it, but here it is typically known as YELLING when you put things in CAPS LOCK; just a little reminder).
thegrad
I agree about being rude and obnoxious - not my style. If a dealer does not want to deal I just find one that will. Folks waste way too much time, energy, and emotion into what for me is usually a very simple thing.
Dennis
It should be noted that the person doing our deal wanted us to finalize before the end of the month. We also have a long running relationship with the dealer (it has recently changed ownership and name; formerly "Neil Bonnett Honda", but many of the same people are still there), which probably afforded us a little better price.
No haggling was done on this vehicle. The dealer named the price and payment, and dad accepted.
If you want more info, see me on the Civic boards so we can leave the Accord shoppers alone
Dad had considered a 2007 Accord EX I-4 Auto as well (cloth), and was quoted a bigger discount than the Civic - $20,575 +TTL (that price includes destination). That is $1,500 below invoice.
I'm pretty sure they will make money on our trade-in. They are giving us Blue-Book trade-in value for "good" condition; its in great condition (not even ONE door ding), but has high miles (68,000 for 2005 model car). Dealer is probably gonna get $16,000 for that car, so that's where the profit is.
Here is my quote for 2007 honda accord EX- cloth interior with all options- cargo tray, splash guards, painted strips, fabric protector, wheel locks...basically all optional accessories and the OTD(including 6.25% Tax, Title and license) is 22800..can anyone tell me if this is a good deal...i want to buy in the next 48 hrs
Do you have a trade-in?
Do you have an itemized list on the price (meaning price of car, price of individual options, etc...)?
Accessories are usually much more expensive than they should be.
I live in Tacoma, Washington, and I want an EX-L V-6, 4-door sedan, automatic. I wouldn't mind nav - I don't care about the color.
I've had really good luck buying a car the last day of Dec. before and had planned to do the same thing this time - only with more preparation and going to the dealer I'd like to buy from with quotes from other dealers.
Questions:
1. Should I wait until the end of Dec? Honda's special financing is good until 12/4 and is a point lower than what my bank will give me. That's about a $600 savings over the life of the loan - will I save more than that waiting until the end of Dec?
2. How long are price quotes good for? And how long will they take to get the week after Xmas and before New Years? If I ask for quotes now, will they still be good Dec. 30? Or should I request quotes again around the holidays?
3. How do I get an actual quote from a dealer? None I've physically gone to are willing to write anything down and I contacted one Acura dealer online and they phoned me six times before quoting the sticker price. Puhleaze. How do I get the Internet sales department to email me an actual quote?
4. Since I wouldn't mind Nav, should I ask for a quote for that car and note that I'm willing to take one without nav? It seems like the nav models are rarer - I assume that's going to drive the price up more than just the cost of the equipment?
5. If I use Edmunds to contact the dealers (they list 3 in my area) should I also contact those dealers directly? And what if the dealer I want to buy from is listed on Edmunds? I'd like the salesman who helped me to get the sale, not the Internet guy.
6. Besides Edmunds, what other sites are there to gather prices?
Ummm... sorry for all the questions. I'm kind of a dork about this - I've only bought cars the "traditional" way before.
heather
1) I dont have a trade in
2)I dont remember the exact prices of each of the options he mentioned but i added the total of all accessories and it came to 2365
3)the MSRP on the car is 23945. The invoice price is 21638.
Mine is graphite, what color is yours?
The "month" normally ends on the last day of, you guess it, the month
First step is search this thread for other folks in the WA area and see who they purchased from. Then I would use the dealer locator on the Honda page and make a list of all the dealers in an ever expanding circle from home. Then visit the web page of each of them and see if they offer online quotes or list an "internet" or fleet salesperson and try to e-mail them - if they does not work try a fax. A non-Nav Accord should be around invoice including dealer and destination. You might just put your price in the request e-mail or fax - tell them you want an EX-L V6 AT and you think the price should be (fill in invoice) including the car, destination, and all dealer fees. See what they say.
The NAV is nice, but you are correct that they are harder to come by. Dealers that will give me a hot price without batting an eye will demand more profit for a NAV car - unless you get lucky and they have a bunch of EX-L V6 w/NAVs sitting on the lot when you contact them. So in most cases the NAV will cost you more than the invoice difference between the non-NAV and NAV cars. I think I would decide if you have to have it or not, no need to confuse the issues by flopping between the two cars. Get the lowest price on it one way or the other, then see what that dealer will do if you add/subtract the NAV.
If you go through the edmunds page I would guess you should stick with that salesperson.
You can try carsdirect.com . Put in your ZIP code and see what price comes up. That is SUPPOSED to be the price that some dealer in that ZIP code area has agreed to sell the car for (plus a dealer fee, most likely). If you are a member of costco or sam's club you can go through their car pricing service as well - I think it is free to members.
Dennis
I'm happy with the car. It's comfortable to drive. It's the first Honda that I've owned.
Of course I know they add stuff like that on there so they can get a higher price - but what if I don't care about wheel locks?
My dealer had to swap a car with another local dealer to get the color that I wanted. They added up all those extras and showed me the $400 "value" that I was getting. Because I'm weak, I offered to pay an additional $74 for the $39 wheel locks and they threw in the rest of the extras.
I had to go buy another car and loved the Accord, so I hit a few dealerships.
After doing my homework and making some spreadsheets, my conception of a GOOD DEAL on a 2006 Accord V6 EX Sedan was about $26,000 out-the-door. That was a bit of a stretch, actually. I ended up getting the car at Norm Reeves Honda in Cerritos for $26,200 OTD. It has everything short of Navigation.
The formula I used for calculating my ideal price if anyone is interested:
1) Gather both the MSRP and the Invoice price for the car from several sources (Autobytel, CarsDirect, YahooAuto)
2) Take the invoice price and subtract $500 (which I gathered from research as being how much dealer incentive was given on each car)
3) From that number, then deduct 3% of the MSRP price. THIS WILL GIVE YOU TRUE DEALER COST (TDC).
4) Multiply the TDC number from #3 by 1.03. This will add in 3% profit which is reasonable for a dealer to make.
5) Then add the destination charges - approx $500
6) Multiply by 1.0xx% (your sales tax) and this will give you a reasonable number to arm yourself with to approach a dealer and not get screwed.
See it in action:
2006 Honda Accord V6 EX Sedan
1)MSRP: $27,300; Invoice: $24,300
2)$24,300 - $500= $23,800
3)$23,800 - 3% X $27,300 [$819] = $22,981
4)$22,981 X 1.03 = $23,670
5)$23,670 + $550 = $24,220
6)$24,220 X 1.0775 (Orange County Tax) = $26,097
There you have it folks.
plus $198 dealer prep charge = $21,300 selling price
minus $3025 for trade-in=$18,275 for car
plus $903.25 sales tax
$297 title/registration (standard)
total net cost=$19,475.25
Royal Blue Pearl--the only color I would buy for this model
The SE V6 is a new model Accord for 2007 and is the true sweet spot of the line-up.
However, your deal includes a trade. If your car is really worth $3,500 then you are paying over invoice for the new car. Have you checked here on edmunds, kbb, and nada for the value of your trade? If the $3,025 off is a fair price, then you have a good deal.
Dennis
That's been a rumor for a while but I've heard it confirmed.
Dennis
Gee, the price they quoted me was $25,574. Hmmm. The exact same as your price brukster.
Anyway, the offer on my trade-in was $1500 below the lowest price reported by NADA/Kelly/Edmunds. So they were willing to give me an adequate price on the new car and then low balled me on the trade-in.
Did I try to bargain about the trade in? Yep, but I was given the bums' rush outta there. I don't think the salesman thought I was serious - I have not had good experiences being a woman without her man around when trying to buy a car. The salesman basically shut me down and told me that's what everyone was offering - and I wasn't able to get out that the other local dealer had offered me $800 more than he had for the trade in. And I was totally serious about buying today - I had the car title with me.
So now I've got the low email quote from the dealer I like but I'll probably end up buying from the other dealer (who was horrible to me when I visited alone and wasn't willing to deal with them) but who was willing to give me $800 more on trade in. That's just too much of a difference to ignore.
So I don't know if I'll stick with my original plan and wait until Dec. 31 or buy this weekend.
If you can (and are willing to) wait, do so. Salesmen will make better deals at the end of the month. If you can stand to do so, and price is a big objective, wait a few more months for prices to drop in anticpation of the new 2008 Accord.
I chose not to do a trade-in though it would have been convenient for me. I had a 1990 Toy xcab v6 with 38,000 miles on it which should be a decent trade, but by the time we reached a price I just didn't want to complicate things more. I think the taxes would have been cheaper with the trade, something I didn't consider at the time.
And this salesman sure didn't seem concerned that it was the end of this month.
I wouldn't have thought it a big deal, but the sales manager my parents just bought their Civic from (yesterday) wanted to make sure they purchased before month's end, and gave them a price they couldn't pass up. It was not a high-pressure deal (great price on two different cars - they took the 07 EX Civic for under invoice).
This is how the negotiations went. I submitted an internet bid of $21,300 to include all dealer charges such as destination and all documentation fees--and this was initially "accepted". But then the dealer tried to tack on the "required" $198 internal processing fee to the $21,300, but I balked. He then said that he "had to" include the fee, so he lowered the price of the car to $21,102 (including destination) and then added the $198 to make $21,300, giving me what I wanted originally.
As I understand it, the invoice on the SE V6 is $21,043 and with destination fees it is $21,638.
Depending on whether the $198 dealer processing fee is considered legitimate or not, I bought the car for $21,300 minus $595 destination minus $198 dealer processing, or $20,507, which is $536 less than the invoice of $21,043. If the $198 processing fee was just a ploy to jack up the price and not really "required", then I got the car at $338 less than invoice as you said. (I have a feeling that the $198 is a fee that many people accept on top of the car price.)
As far as the trade-in went, I looked it up on Galves.com (the dealer site for trade-in values) and my car was indeed listed at $3,050. He ended up giving me $3000 after trying to talk me down to $2500. So I feel OK about that.