2013 and earlier-Honda Accord Prices Paid and Buying Experience

winbro

the RENTAL FEE sounds more & more like a profit making expense. a way for the dealer to get his holdback fee from honda, advertising etc. and depreciation over the 4 years. They probably should not have mentioned it (unless it is specifically mentioned in the contract). Just given you the bottom line lease figure.

toad500

Response to ral2167:

Thanks for your response to my inquiry. My point is this: The 2004 Accords are due to arrive at the dealership in less than 60 days. If you have the choice of paying the base price plus $300 for a 2003 Accord versus a 2004 Accord, which one would you buy? You would obviously buy the 2004 because it has not depreciated, and anyone who has been in an auto accident and received an offer from their insurance company for a total loss to their vehicle shortly after buying their new car will know what I am talking about.

To me, depreciation has everything to do with this: avoiding depreciation is a MAJOR reason that people buy Hondas to begin with. Since this is the case and since the brand new 2003 Accord will be one year old in the timespan of 60 days, why isn't Honda giving any consideration for this? I guess there are people out there that do not understand how depreciation works and Honda dealerships are able to take advantage of this.

Thanks for you help. I "depreciate" it. Any other responses out there?

winbro

I thought the year end clearance sale was Honda's answer

kyfdx

Not positive, but I think I've seen this term before... The payment is made up of depreciation (cap cost minus residual) and rental fee (financing cost: (money factor)times(residual plus cap). The rental fee is the interest.

regards,
kyfdx

fdefulvio

I agree with what toad500 said. Other manufacturers are offering rebates to offset the reduced value of a leftover '03 vehicle. Years ago, dealers didn't discount off of MSRP like they do today, and would offer much larger discounts on leftovers. Today, it's not uncommon to find dealers willing to take a "fair" amount over invoice to make a sale even on newly released models. I'll gladly pay $400 over invoice for an '04 than pay invoice for an '03. You more than make up for the difference when it's time to get rid of the car.

Honda's "Year End Clearance" is nothing more than a marketing gimmick. They're not discounting the cars any more than the day before. It's just a way to get people into the show rooms. They are at least offering a lower interest rate as an incentive, but 2.9% isn't much better than I will get from a home equity line after the tax savings.

isellhondas

These are NOT distressed merchandise, folks!

I hear this "it's a year old" thing pretty often.

My response...So What?

Unless you plan to sell the car in the next couple of years it really doesn't matter.

Even if you do, a four year old car with low miles can be worth pretty close to the same amount as a three year old car with normal miles!

It's not necessary to lose moeny in order to sell these.

03accordowner

I just bought a 2003 Accord V6 EX without Navigation for $22788 (plus tax and fees) at 2.9% APR for 60 months which is about $900 under invoice from Anderson Honda Palo Alto, CA. I hope i got a good price especailly since the 04 models are expected soon.

I like the deck lid spoiler and was planning to get one for my car. Does anybody know what is the total cost including installation and is it worth it?

toad500

To fdefulvio and isellhondas, I thank the both of you for your recent input on this topic. isellhondas's comment was intriguing to me, specifically the comment on his/her contention that there is little to no difference in the market value(resale to a private party) for a 3 year old Honda with high miles versus a 4 year old Honda with low miles. So, I decided to test this claim: I pulled up the private party value on Kelly Blue Book of both those vehicles(model years 2001 and 2000, EX models with a 4 cylinder engine and manual transmission, and with the same equipment and used 12000 miles/year and 10000 miles/year, respectively. I found that the resale value of the 2001 Honda is $14795 and the resale value of the 2000 Honda is $13320, which of course is a difference of $1475. If mileage is constant on both models, say 12000 miles/year, the difference increases to $1925. This is my point. This money is lost years later and can never be recouped. This is the very nature of depreciation. The key here is that it is lost to me, the consumer. I am going to make a big assumption here, but I'm thinking that isellhondas sells Hondas for a living. He/she states "It is not necessary to lose money to sell these." However, with my rudimentary calculations in hand as evidenced, it may just be necessary to lose money to BUY these, at least before October.

Regardless, I came away from this discussion board satisfied with knowing that if I am to get a Honda now, I will at least need to get approximately $1700(an average of $1925 and $1475) off the "invoice + $300" mark. Any less, and the consumer is the one "paying the bill", unless, of course, you drive the car into the ground, have no family emergencies in the next couple of years and are not forced to sell the vehicle for hardship reasons, and do not have your vehicle declared a total loss due to an auto accident. Those are a lot of "If's". I'll shoot for $1700 under invoice, otherwise, here I come 2004 EX! Thanks all!

steve_on

I guess I did OK toad500, just bought an EX 4 door 4 cyl for $300 below invoice or $20,300.

Could I have waited for a '04 ?

Yes, and not received 2.9 finance

Yes and received a '04 which from what I hear has no to minor changes from the '03.

Yes and not beat invoice by $300.

Wait until October, and you can probably shave another 300 to 400 off the deal I got, and probably get the same finance, but that's only a guess. If economy continues to improve, I would not take that bet.

But hey, it's your call and your money, and no I don't sell hondas, just buy them every 7 or so years....LOL.

isellhondas

Well, assuming your figures are correct, you also need to factor in the 2.9% financing vs.whatever you would pay on a 2004. Also, how do you know prices won't be going up?

Also, people go bonkers over low mileage cars and will pay all the money for these.

1700.00 below invoice...I don't think so!

toolfan1

I bought a 2003 Accord Coupe V6 6spd about a week ago. Paid around 25,600 OTD. It took around a week for the dealership to find one for us. They wouldn't deal much on the price since apparently the 6spds are rare, but I love this car!!!!!

jratcliffe

Actually, I think the point he was making is that if you buy a car today, and drive it 12k miles a year, in three years you'll have either a 2003 with 36k miles (low miles for a 2003), or a 2004 with 36k miles (about in line). I did the same analysis: 2000 or 2001 EX 4Cyl, no options. The 2001 private party (no options) was $13,752, while the 2000 (only options were CD and side bags, to bring it into line with the 01 option-wise) was $13,167, so the difference is about $600.

rhdroc

My wife and I are considering the purchase of a Honda Accord LX V-6. The problem is we live in a rural area of central Pennsylvania and the Honda dealerships are few and far between, however, that's not the real problem. How can you cut a deal like some of those I've read about in this forum -- $300 to $500 above dealer invoice -- when the dealerships are so limited. We stopped by a Honda dealership yesterday and the deal we received is more like $2,000 above invoice. Same thing if you're shopping for a Camry or a Hyundai. The dealers may cut a couple hundred off their deal (under pressure -like asking for an arm or leg) but this still doesn't get close to the $300-$500 above invoice!! It seems like they've all gotten together and agreed not to substantially each other. Maybe a couple of hundred $$$ but nothing near invoice. They all do it, in my area there's just no escaping it - essentially you pay near the MSRP less your trade. In fact most of the internet purchasing services like autobyte.com come up with no dealers (they work with) in my area. Since the Honda is very reliable, I next contact dealers within 100-200 miles of my home. Obivously this is somewhat inconvenient, the drive is time consuming, and you might save (if you're lucky) a couple hundred $$$s. I'm still not close to those near invoice deals.

So, does this near dealer invoice method only work in urban areas where there's many dealerships handling the same cars or am I missing something important?? A fair profit is only right BUT I know that I'm at the mercy of these salespeople.

Thanks -- Rick

steve_on

Well Rick,

You are half way there by posting on the internet.

Check out your local credit union, most have a buying service which will deliver your new car to your drive way, at a darn good price. They work with dealers, and buy lots of cars so they typically get a good price, then mark that up a small amount...remember the old adage VOLUME VOLUME VOLUME.

or

Check out many of the companies such as Carsdirect.com which will also do the whole deal over the internet, not sure about delivery however.

My recent car delivery was accomplished via the internet, contacted dealer direct to dealerships web site and internet manager. They even delivered the car and final paper work to my home. You will find that many many dealers will go a long way to sell you a car now days. Heck I would venture to say that you could buy a one of the mass produced cars like a honda without stepping into a dealership, options on a HOnda being what they are, DX...LX...EX.

03honda

If you don't mind travelling, try contacting some of the dealers in the Philly or Pittsburgh area--they seem to get more volume and make the better deals...good luck!

rhdroc

Thanks, Steve, for the buying info!!!

Can you tell me how Carsdirect.com works?? Can you get the price on several different cars?? Since they request your credit card #, do they charge you for each request or only for the "one" request the ends in an actual purchase?? What is their pricing structure??

This service sounds great and they appear to service my area!!

Thanks --- Rick

steve_on

To make sure I don't tell you something wrong, I would suggest that you call them, or email your questions directly. Better to get the info from the horses mouth.

Do check out your local credit union's buying service also. Same sort of deal as cars direct, and they will deliver to your door on a flat bed.

Good Luck

buyhonda

I am perplexed and don't know what to do. Reading posts by toad500 and fdefulvio...I agree with toad that the 2003 Accord will be 1 year old the moment 2004 comes on the road. That is exactly the reason I am not sure whether I should wait for 2004 or go ahead with 2003.

I have got the following offers:
(1) 2003 EX with Leather 4 cylinder: $21,200 plus taxes/fees.

(2) 2003 Ex V6 with leather: $23,000 plus taxes/fees.

Both prices are about 500 less than the invoice prices (as per Edmunds) in my area.

My questions:
(a) I need all of your help on is to estimate how much will I pay for the same vehicle but a 2004? If it is going to be only a few hundred dollars more, I might as well wait. But I don't want to wait and then end up paying, say, $1000+ more for the same car. (Or in other words, I might as well afford a 2003 V-6 than a 2004 4 cyl.)

(b) Are the prices that I am getting good?

Need your valuable inputs. Thanks!!

fdefulvio

I've been sitting on the fence waiting to see what new features are in the 2004 Accord. They may be minor, but to me, things like automatic headlights or upgrades to the sound system are worth waiting for. You also get the benefit of the 2004 not being the first year of a redesigned model.

You seem to have some pretty good prices, and you will most likely not be able to get as good of a deal on the 2004 when they first arrive. You have to decide if you are saving enough to justify having what is essentially a one year old car. Granted, it will be a one year old car with very low miles, but in several years it will be worth less than a comparable 2004 with the same miles.

Frank D.

steve_on

You are quite correct in your view that a newer car, 03 vers 04 usually is worth more on trade, unless the new body style is a real stinker...not sure if that has happened in the last few years (BMW 7 series???)

I would point out that late year production of a model tends work out any "bugs" which pop up with a new model due to getting the formula down pat as they make the model. On new features, well what's the learning curve for the new features, how to bolt them together so to speak?

In the final anlaysis, buy what floats your boat!

toad500

Buyhonda, I just made an offer to buy essentially the same vehicle, a 2003 Accord EX w/ leather and a 4 cyl/manual. I'm still awaiting a response, but the dealer expressed that he would be able to beat invoice on the vehicle. Got the feeling that he is thinking of $500 to $1000 off invoice, as I used the $1000 rebate that Toyota is offering on the Camry as a negotiation tactic. I may also wait until the 2004 comes out: from what I know, which is pure speculation, there are to be only minor changes from 2003 to 2004, and probably changes that Fdefulvio mentioned. Those would be some nice changes, indeed, and not simply something silly like heated windshield washers(a lot of good that does me in Florida). If my dealer comes back at $1000 under invoice, for MY money, I will probably wait for the 2004 to come in. That's the nice thing about Honda's: you can generally pick one up(barring a "Miata" effect) for base price plus $300 to $400, anytime of the year. Let me know how your situation worked out. Also, one more issue: you will have a better negotiating standpoint as far as pitting the 2003 vs. the 2004 and beating the 2003 down in price when the 2004's are actually on the lot. At that point, they cannot say they're not out yet, etc. You can actually see them there and the 2003's are immediately worth less than the 2004's. Good luck!

hondaijo

Hello,

I want to buy 03 Accord Cpe LX Auto in Chicago.
A friend of a friend said he bought it for $250 below invoice.
Anyone has similar or better deals and at which dealership? The best I have right now is $1 over invoice.

Thanks in advance!

hondasellertx

Another thing to take into consideration is the 5 year cost of ownership. It is much lower in the Honda than in the Nissan. Check out that section on both cars also.

go77306

Please help me to make the decision!

2003 maxima GXE:
price: MSRP: 33300 (auto), probable I can get it down to $29000. Plus taxes, PDI, air tax.... total is: $35000.
financing: 0.9% for 36 months. if I pay $5000 down, it will be 845 per month, total interest paid: $420

2003 Accord EX-L MSRP: $29500 (auto), I think it is possible to get $2000 off.
Plus PDI, taxes, total is: $32884.25 financeing: 4.8% for 36 months, if I pay
same $5000 down, it will be $833.21 per month. totoal interest paid: 2111.31

so all together, maxima's initial cost is $2100 more, but accord's interest is high - so if I count the interest,
maxima is only $1000 more than the accord...

maxima:

What I like: it is a luxury sedan, more HP than accord, styling is good, 60/40 split rear seats
what I don;t like: mileage is low, I have to feed 93 gas (not the regular 87), maybe the repair is expensive (after
the warranty), since it is a V6. High insurance premium.

Accord:

What I like: mileage is very good. possible cheap repair work - it is I4. build quality is possibly better than maxima
lower insurance premium.
what I don't like: on piece rear seats (it is not a 60/40 split), ugly styling

is it worth the extra money ($1000 more and long term gas expense) for the Maxima? Is Accord's 160HP enough for highway passing?

Thanks!

BTW, what is the best price paid so far for accord (EX-L, LX-G) and maxima notrh of the border?

mikek37

Hmm, first, dont compare a 4 cyclinder Accord to a six cyclinder maxima, thats silly. I am almost positive that the Nissan isnt only 2000 more then the 4 cylinder accord.

That would mean the V6 Accord is more then the Maxima, which is highly unlikely. Also, if you do get the 6 cylinder Accord, you will receive more features then if you stick to the base GXE, and they will both be comparable in price.

Both nice cars.

Resale, we all know Nissans depreciate quicker then the hindenburg (sp?). Accords hold their value.

moolman

Here's the latest 2004 Accord prices:

http://www.hondanews.com/Forms/corp/*ws4d-db-query-Show.ws4d?*ws4- d-db-query-Show***004548***-wieck_media***-***corp(directory)***.- ws4d?corp/results(r)_text.html

Main change besides the green color and side air bags is the Standard XM radio for leather EX cars. You get 3 months free service. Prices go up a bit too on MSRP.

The increase in price makes up for getting the XM radio, so it evens out with the 2003. If you can get good financing go with the 2004, if not the 2.9% along with the below invoice price for the 2003 is hard to beat.

Alex

jharvard

we paid 19,400 for a demo with 3.5K miles that had fog lights on it as a bonus. 21,000 (OTD).
Westchester County purchase

emmit2269

I got a quote for a 2003 accord EX V6 6spd manual.
for 3 years:$369 4 years:$339
I am trying to see if thats a good deal. Also I have trouble understanding the concept of ballooning, since I am allowed to give the car back before I am suppose to. It seems logical to take the 4 year agreement and return it back in 3 years. So if anybody has any experience with this please respond

ral2167

my response is, dont buy a car based on monthly payments-- buy a car based on out the door price, and THEN figure out the payment from there.... am i nuts?

also, if you buy an accord manual transmission, expect to get ripped off come trade in time... so be prepared to run car into the ground, or sell privately when you're ready to buy again.

isellhondas

You don't get "ripped off". Your car is simply worth less and it's MUCH harder to find a home for.

However...this car is unique. It's a rare Accord EX V-6 coupe with the 6 speed. These appeal to few people, but for those who want one of these, they will be VERY SCARCE as used cars.

My opinion is these will attract a premimum price as used cars.

naveen75

Hi fellas, I just purchased a 2003 Honda Accord Sedan EX-V6 Leather with Nav for $26500 with the following options
Cargo net, premium mats, Rear Spoiler (not decklid), Auto Dim day/night mirror.

No trade-in so the dealer tightened up at this number.

I think I should have been able to haggle for atleast $500 less but I just didn't want to spend more than a day of my life with dealers. Did I get totally ripped off considering that the 2004 models are out?

If I did infact pay too much for it it must be because of my assumption that the ex V6 nav models carry a 'premium' considering that they are the top of the line accords and that there aren't too many of them in the silver/black combo that I wanted.

hondasellertx

You made a fair deal to all parties. You got a good price on your car and the dealer made a fair profit and equally importantly the deal was at a level that allowed the salesperson to make a fair commission.

I'm all for saving money and try to do so as often as possible. Since moving to the other side of the buying process I've learned that most of the last couple of hundred dollars people can squeeze out of their deal comes straight out of the salesperson's pocket.

You got a fantastic car. We have several on hand and I go drive one every now and then just to let the nav system talk to me. Enjoy your new car and congratulations on a wise choice.

hondaijo

Bought this for $17888 + tax & fee, OTD $19608 in Chicago West suburb area.

bigsweaty

Are the 2004 Accords out already? I need a new car in 2-3 weeks and haven't started the pricing process yet. Thanks to all who shared their pricing info. Are dealers able to deal on the 2004's already? Oh, I was wondering if anybody can comment on the quality of these last 2003's. Are they improved over the earlier year production models, or should I expect the same minor problems which were fixed for the 2004's? 2.9% financing is tempting, but I so are new 2004's.

wendyinoc

I purchased my vehicle at HondaWorld in Westminster. I think I got a great deal for the car! I paid $23,200.00. I went online and it was the best way to deal with the dealers. I was out in 1 hour. I love the Navigation system. I already found it handy to skip the freeways when they are busy. It definitly has potential. I got the 2.9% financing and the extra options are really nice on the EX-L.
Thanks for all your help. I did get ripped off in financing for LoJack and some etched glass scratching thing. I did not research these items ahead of time Over all I am very happy. Its so nice compared to my Civic

mikek37

How much did you pay for the etching. Hope they didnt get you too badly.

winbro

I too got the etching - pd $95 for it - dealer was really insisting on this in my negotiations, so I figured he must have a firm contract with someone to do this. good news is my insurance does give me a 15% reduction in comprehensive; which of 4-5 years the $95 will pay for itself. and he actually gave me the equivalent more on my trade for the etching.

accordone

I am looking to buy a Honda Accord soon...and I am curious to know what you think I should pay for a Silver 03'Accord 4dr EX 4CYL, with floormats, mudguards, Rear Spoiler, tint and possibly the moonroof visor. There wont be a trade-in because I will be keeping my other car, and if it helps im in Louisiana....thanx in advance

accordone

Oh, I forgot to mention If you could give me a OTD price I should offer, it would be great.

delphi

HI, I'm ready to buy a Honda Accord EX v6 w/leather.I was quoted a price of $24,300 by Buerkle Honda of st.paul,mn. Is that a good Deal?Right now honda is offering 2.9 % finance for 60 months. They said they didn't have many in stock and that it would be hard for me to get it at a lower price. Should I wait for the 2004 accord? If there is anybody from minnesota, could you tell how me how much you paid for your Accord? Thanks for reading my message.

bmcfarlane

Looking to purchase a 2004 EX V6 NAV - silver. Found an 03, but prefer to not take the depreciation hit.

Best price I have seen on an 04 is $26,800. Does this seem reasonable or should I keep searching?

ral2167

as prior 1999 solara owner and current 2001 coupe owner, the new 2004 solara is out-- drove it today-- not going to get into any argument here about whether to go with 2003/4 accord or 2004 solara... but in case the honda dealer is asking too much for the coupe and doesnt wish to deal, you might want to suggest to the salesperson there may be a 2004 solara in your future-- car looks MUCH better in person than in photos, in my view....

happy motoring.

maxamillion1

IS NICE!!!!!!!!!

Especially the interior, which looks better than the Accord surprisingly.

bigsweaty

Hey bmc...when you go to the dealer can you start bargaining for the 2004's? Are they ordering them or are they on the lot to test drive and take away?

m_stress

Just bought an EX-V6 for $22,900(including destination)+ tax and registration from Honda Village in Boston.

bmcfarlane

bigsweaty...here in Portland, OR the 2004's are already on the lots...although the dealers are doing their best to hide them until they can unload the 03's...to the point of telling customers that the 04's won't be in until October.

bigsweaty

So... if you go to the dealer (or email/fax them) are they willing to start dealing in the 2004's?

isellhondas

Why would they "hide" the 2004's?

We have a few and they are ready to go.

bigsweaty

Does that mean that you dealers are ready to sell the 2004's? When does your dealership intend to have a bunch of different models.

bmcfarlane

Well, not being a dealer, I would have to assume the difficulty of unloading 03's with 04's on the lot would be the reason for hiding them. The price quote I received on an 04 was through Costco's connection. Seems like I should be able to do better however....