2013 and earlier-Honda CR-V Prices Paid and Buying Experience

parmar

I personally appreciate Octo13er for sharing all micro level details. Its really helpful for first time buyers. Thank you very much.

bmwguy23

Don't forget that when you use a home refinance to pay for a car that you will be paying the car off over a MUCH longer term (15 years, 30 years, etc.)...so you will be paying interest over a MUCH longer time period...which is not good...hopefully you are not refinancing with a 30 year loan.

octo13er

You're welcome, parmar! Thanks for mentioning it. It kinda makes me feel better for "baring my soul" so to speak.

Actually, the refi through the bank is not a traditional home refinance. It's a lean they put against your house. There is no home appraisal, no lengthy closing with lawyers involved, no termite inspections, none of that. I simply call my local bank branch and ask them what I can do to refinance my car loan. They offered me 7% interest on a car with 17,000 miles over a 60 month term. It's the same as a traditional auto loan that you'd get through a dealer or elsewhere with one small catch: you sign a paper that says if you default on the loan and the value of repo at auction is not adequate to cover the loan they can go after the equity in your home. Obviously this is a very lengthy process for them to go through to obtain their money and they're also bound by law to allow you a certain amount of time before they can proceed with the worse case scenario.

What all this means is that by doing a traditional car loan this way it will lower your interest rate on a used car (I'm not sure where it would stand on a new car) and you're able to claim the interest you've paid on your car loan at the end of the year. Win/win situation in my book. Unless I become disabled and can't work but I have insurance for that anyway regardless of whether my auto were financed in this manner.

Octo13er

oireachtas

I just got a quote for 26,990 for EC-L with navi out the door 2WD (dib;t need 4wd in NC). Does this sound reasonable. Thanks

octo13er

Was it an internet quote? I got a lot of "too good to be true" internet quotes and they were just that. 27k out the door to me is excellent but make sure you ask all the right questions. See my list that I posted and other than the options and the finance charge all of those apply to "out the door" costs. Make a list and point blank ask them to itemize for you item by item. Do it over the phone and use a calculator (if needed, I needed one) to find any gaps in prices. If it's done over the net or phone you want an email or fax with the itemized quote sent to you by the new car manager (it has to be the manager!!).

Don't let them rush you or let them make you feel as though you've asked any dumb questions. A lot of the information they share is often put in such a way that it makes you hesitant to pry any further. They act as though "Well, yeah, stupid. Everybody knows that." I found a lot of sales and managers use this technique as well as sounding as though they don't have time or are in a rush. Call them on it. Say "I'm sorry, am I making you late for something? Because I'm sure there's another dealership willing to answer my questions." They more than likely will have an excuse at which point you should again apologize and offer to hang up. Don't let them pry you into visiting the showroom until all the questions have been answered (and don't forget those expensive installation fees on the accesories, one question I wish I'd have asked!).

Octo13er

tufrisbee

I found a lot of the info posted here to be helpful and wanted to see what some of you with recent buying experience think of this price. I'm looking at a 2007 CRV EX-L 4WD (without Navi)in Rockville, MD, near Washington, DC. Started out looking at the Element (I love ugly cars, what can I say) but am now leaning towards the CRV. Dealer quoted me an "out the door" price of $27000.

Has anyone purchased a similar CRV, and have any tips on how they got the deal? I'm replacing a 2003 Civic that was totaled in a recent accident, and am planning on going to three other local Honda dealers to see who can make the best offer. Any input on dealers in this area is also appreciated.

Thanks in advance!

ccacp

Try Heritage Honda in Westminster and Parkville, they seem to have the best prices around !

oireachtas

Thanks, your comments are helpful and I will look over your suggestions. It was a phone quote approved by manager. I'll post how it turns out.

blueiedgod

I'll be doing a refi with my bank anyway. I highly recomend that to any home owners that have never considered it. Bank refi rates are usually right on par with what the finance companies offer and with a lean against your house

I, personally, don't think that putting a depriciating asset like a vehicle against an appreciating asset as a house is a good idea.

But, then again, I only financed the vehicles if the loan rate was lower than the T-bill or whatever stable rate is out there such as on-line savings accounts (Citibank, HSBC, EmigrantDirect, ING).

If the loan rates are higher than the guaranteed interest rate, I'll just use cash.

Currently, Citibank, HSBC, and EmigrantDirect offer 5.05% APY on deposits over $1 (one dollar). When I financed the Civic it was at 1.9% for 60 months, and the CR-V is financed at 2.9% for 60 months, both through AHFC. In a sense, Honda is paying me to borrow money from them.

octo13er

You didn't say why you though it wasn't a good idea. I'm curious, faced with my alternatives, why it wouldn't be. I can't pay cash for the car and the scenario you described above would only be available to those who could. Should I just pay the full interest amount and not try to recoup some of it? And what risk are really involved with doing it that way?

Just to be clear: You're depositing the full loan amount from your own pocket into a savings account with a 5.05% APY? And if the car loan interest is equal to or higher than your savings account you just pay cash? Either way it demands that you have the full amount available, and let's pretend not everybody has that kind of equity.

Not a bad deal assuming that "extra" cash is available, but if I had $32k available it sure wouldn't be in a savings account no matter what the APY. It would be in a well placed acre on a soon to be busy street in one of the fastest growing counties in the U.S. Drop $300k into commercial improvements (not my money, the banks) and watch my pockets bulge.

I know what you're talking about and it's a great idea, but not all of us can swing that right now.

Octo13er

supermax21

Got it 2 weeks ago for my wife. Paid $21,700 with everything (destination, dealer fees, tag fees). Financed through my credit union. When I bought it Honda was not offering 2.9% through AHFC that I was aware of. Credit union financing was 6.25%.

haphon

This is what I paid for a EX AWD in the chicago-area a couple of weeks ago:
MSRP 24,050
Factory Invoice 22,364
Sell price 23,250
Destination Charge 595
Doc 58
ERT 25
Plates 143
"Internet fee" 99
Final cost to me 23,576
Sales tax (IL = 6.5%) 1,532
Final cost including Sales Tax 25,109

We are very happy with it so far.

Good deal?

finbar_ohara

I see some of you folks got 2.9% rate on the CR-V, is that a regional thing because it's not offered in Michigan?

jimbres

A few suggestions for your next purchase:

Don't trade in your old car. Sell it yourself, instead. That's the only way to extract the maximum value from your old car, & it also simplifies & clarifies your purchase transaction. You can now concentrate on purchase price rather than worry about both purchase price & trade-in allowance.

Arrange your financing in advance. That way, you'll have your financial parameters nailed down in advance. You won't be at the mercy of the F&I guy.

Don't buy the extended warranty. If you're worried that expensive repairs will wipe out your savings, then you don't have enough savings. Start now to bulk up your savings account balance. When folks tell me that they buy extended warranties for "peace of mind", I remind them that you can't beat money in the bank for real peace of mind.

Skip the dealer add-ons. Wait until you've driven your new car for a few weeks before deciding what accessories you need. Then order them from Web-based retailers.

In short, I'm recommending that you lock down all of the key variables except vehicle purchase price before you set foot in the showroom. You'll feel less stressed & more in control of the process.

tompat

I'm curious as to which dealers you dealt with and whether you think you could have gotten such a break on the ex - l or just on the LX? I'm in ABQ area but willing to drive if I can save $$. tom

haphon

I agree 100% with your very sound advice. We followed these guidelines and saved thousands - $2,250 on selling our 'trade in' ourselves alone (which was easily and quickly done over the Internet).

jefferson

We're now the happy owners of a new EXL in whistler silver. I had emailed the Honda dealers in the Twin Cities and nearby cities for price information. Tom Kadlec in Rochester was the lowest price, and the only dealer with our preferred color in stock. We dealt with the Internet sales rep at Kadlec She was fantastic: responsive, knowledgeable, helpful. No hassles in the business office, either.

The dealers in the Twin Cities were all asking $200 - $700 more than we paid, but none of them had our preferred color in stock or on a truck.

EXL, no options $25,495.

No trade. We're selling our 98 Odyssey ourselves after our son uses it to move. Now I can quit spending my spare time reading car brochures and go outdoors and play.

blueiedgod

You didn't say why you though it wasn't a good idea. I'm curious, faced with my alternatives, why it wouldn't be. I can't pay cash for the car and the scenario you described above would only be available to those who could. Should I just pay the full interest amount and not try to recoup some of it? And what risk are really involved with doing it that way?

Just to be clear: You're depositing the full loan amount from your own pocket into a savings account with a 5.05% APY? And if the car loan interest is equal to or higher than your savings account you just pay cash? Either way it demands that you have the full amount available, and let's pretend not everybody has that kind of equity.

Not a bad deal assuming that "extra" cash is available, but if I had $32k available it sure wouldn't be in a savings account no matter what the APY. It would be in a well placed acre on a soon to be busy street in one of the fastest growing counties in the U.S. Drop $300k into commercial improvements (not my money, the banks) and watch my pockets bulge.

I know what you're talking about and it's a great idea, but not all of us can swing that right now.

Octo13er

Housing market is not as hot as it was let's say 5 years ago. We are probably heading into a housing recession...

So, you are betting your house on a car. Just imagine a worst case scenario, you lose your job and can't pay the bills. If you have separate car note and house note, you may be able to scrap enough cash to make the house payment, and let them take the car. But, now, you have your car tied up in the house, and can lose both the car and the house.

As to investing into land, you have to know what you are doing. If you are investing in the hottest county in the US, then you are too late to the game already. You need to invest into something that will become hot, before it is hot to reap the most benefits.

The reason I brought up online savings accounts is because the usual "Risk Free" benchmark is Treasury bills, but at this point, the online savings accounts provide higher yield with the same benefits of being "Risk Free" as T-bills, since both are guaranteed by the US government.

One can invest in many things, but one has to remember that general rule of thumb is to have 6 months worth of income in very liquid form. You can't get anymore liquid than cash, but it depriciates at the rate of inflation, so the next best thing is online savings, which beat inflation by about 2%.

Going from Honda purchaser's demographics (Median household income for Honda buyer is $85,000), Honda buyer should have about $42,000 in liqud assets to get by in case something were to happen. Anything over $42,000 can be invested into stocks, properties, mutual funds, ect...

I am not telling you what to do with your money, I am just haring my and other financially conservative people's view.

marig0107

argh! My head is spinning with financial details here... Here's what I know...I want it, husband gets it for me, no questions asked.... :shades:

Wow, $85K is an average income...wonder how much the army is paying dh nowadays....

parmar

Wondeful discussion and information. It's really really helpful information. But at the same time we are diverting from CR-V prices paid forum.
Anyway I am looking for CR-V EX 2WD in Dallas FortWorth (DFW) area, anyone have suggestion of dealer and approximate out the door (OTD) price? Thanking you in advance.

kyfdx

Thanks!!

slisstudent

Parmar, I'm also in the D/FW area and looking for an EX 2 w/d. I just finished requesting internet quotes from 9 dealers within a 25 mile radius. What's the best invoice price (not out the door) you've received so far? Thanks

cameryn

Just purchased a whistler silver at $27,300 plus $595 for destination for total $27,895 in eastern PA. Pa has 6% sales tax also. Not a lot of this particular model on dealer lots and they do seem to move out very fast.

parmar

I got around $22300 to $22600 sell price quote. Only problem is that dealers are not giving quote in writing. I have to visit their location and discuss about it. I am feeling lot of hassle in that.

This is 'e-bay age", everything is available online or over phone. I believe DFW area dealers are still living in old ways.

Any way I always prefer to do negotiation on "out the door" price. I ask dealers, tell me amount that goes on "check". So far getting out the door price is "$24300". I am expecting to have up to "23500 - OTD".

If you get good deal in DFW area, please keep me posted. Thanks.

blufz1

If you can wait a few months to buy you can get a better crv at a better price. Just remember to walk out the dealers door if you don't like the price. They will be calling you. If you want a good price you have got to "old fashioned" grind it out of them. I think some of them actually like the abuse. and I want to make them happy.

marig0107

blufz1, I agree that waiting will get you a better price. I got mine in march and didn't see any crv's on the road. Now I am seeing a few more, but still, not alot. As more and more are sold, the prices will come down.

But for right now, negoitating room is alot slimmer than I'd ever experienced before. DH and I had a great advantage in that we were not in desperate need for a vehicle at this time, dealer KNEW that. So we were able to walk out the door of many dealers.

That said, for a 4wd navi, we paid $27715, that is before doc fees (which I made those disappear by having them lower some prices on accessories we ordered) and taxes. Alot for a small SUV but I felt somewhat appeased reading Consumer Reports and such and seeing that that is pretty much the price for these little guys of all brands right now.

And guess what, this year with gas prices, I will get the kids in the car, start it up in the garage, back out into the drive way, look at my kids, say hope you enjoyed our summer drive and come right back in....rofl

blufz1

At least you got the sunroof for more enjoyment on your "summer drives."

fac1

slisstudent, what is the trim level...is it EX AWD ?

slisstudent

I'm looking at an EX 2/WD, cloth interior, with no additional options.

You're correct about the dealers withholding any concrete quotes through e-mail. The majority of the dealerships that responded preferred that I pay them a visit in person. Two of the dealers are asking for an 5.93% markup from invoice (21,251 + 595 dest).

oireachtas

I want to thank everyone on the forum for the advice they give. Just purchased a 2WD EX-L with navigation for 26,999 out the door in North Carolina. Without the tools I found through the discussions I would not have felt as confident negotiating my price and might have fallen for the "these are selling like hotcakes and we don't discount" line. This was truly the easiest car transaction ever. I got a quote from Heritage in MD. I would have been willing to travel if I had to. They quoted 27,212 OTD. I then called or emailed local dealers, most of whom wouldn't touch it. One dealer did not get back to me, so I made a follow up call, because I saw on their website inventory that they had the exact car I wanted in my preferred color (Royal Blue). The salesman said he had not even gone to the manager because he was sure he would turn it down. We chatted a few minutes, turns out my daughter had just graduated from his alma mater, he took the offer to the manager and came back under at 26,999.00. I probably spent about 1 hour total between emails and phone calls to dealers to get the deal I wanted.
The salesman was great when I picked up the car - no pressure to add anything on to it. I had a blank check from Capitol One for a good rate, so Honda had to work to get the loan. I did the financing through them - told them I appreciated the deal they gave on the car and if they could give me a payment at the same or better rate, I would finance through them so they could make that profit. They came in better. The finance guy advised me to finance for five years (rate was 1% better than 36mo) and then calculated what I should overpay each month to pay it off in 36 mo with no penalty.
All told the best car buying experience ever and I have been buying cars for almost 35 years!! It is so nice to go in knowing what a fair price is ( I calculate they actually made about 5% profit). Thanks again folks.

norseviking

Local dealer had only 5 CR-Vs available. One was a "demo" EX-L with 8,000 miles on it and a cracked windshield. Also, ugly green color (at least to me). Forget that one.

I ended up getting an LX in Borrego Beige Metallic. I traded in my 1997 Ford Explorer 2-Door SPORT with just 64,912 miles on it and got $4,300 for trade-in. The total price including 7.5% tax and destination fee was $21,366. Very happy with LX as I wasn't interested in the extras on the EX (sunroof and CD changer, etc.) and definitely not the EX-L (heated seats, nav system--can't think of when I'd ever use them).

Very pleased with front wheel drive and handling compared to my Ford Explorer. And the better gas mileage will definately be a big plus. I'm a very happy new HONDA owner tonight.

elki

Just went to several Honda dealers around Houston and Sugar Land. Seems that CRV EX and EXL is VERY difficult to find especially the one with red tango and silver color . Got a 'final' offer from one dealer in the west for the EX-L, i.e. USD 25,447 (with destination charge but no TTL yet). It also comes with wheel locks, tinted window, protecting kit (cargo net & cover, floor mat, splash guard, door guard), plus additional USD 299 for paint sealant (do i need it?) but without the NAVigation system...
Is this considered a GOOD DEAL in Houston? Badly need your advice since I have to make a deal this weekend...THANKS!

vcarreras

Got my EX-L on April 26 from Baytown Honda for 23905 + TTL less trade. That's $250 over invoice. No add on's as is off the boat. Get on-line www.baytownhonda.net fill out the $300 off entry. Good luck.

nico_sara

Leased a new CR-V EX-L AWD (no nav) today. 36-month lease, 12,000 miles/year, 0.0028 money factor. Think I got a decent deal - what do you think? Putting $1500 down (for security deposit, etc.), monthly payments will be $425. Out the door price (including everything - title fee, destination charge, tax, etc.) was $25,894. How does that sound?

elki

thanks a lot vcarreras...just visited the site that you suggested, seems that they start at reasonable price, but just like other dealers in Houston, they dont have red and silver color...what's wrong with CRV supply? are they really on hot sale now? or this is just marketing strategy :-)

hansmuff

Personally, for 25,447 I'd shoot for a 4WD model. Then again, I guess you don't get much snow
I would stay away from the paint sealant... take care of the vehicle and wax it as needed, and the paint will be just fine.
The protection kit is nice but I suspect VERY expensive from the dealer. If you can subtract that out, buy it online, you get the honda parts but without the dealer markup.

hansmuff

http://www.thetorquereport.com/2007/05/is_it_the_end_of_the_line_for.html

The CR-V is now the best-selling SUV. That's what you're dealing with

armandlev

New to this forum, but went yesterday and was all set to buy a new AWD with navi EX-L and the guy wouldn't budge on going below $1,000 over invoice. He gave me $27,100 plus tax tags, freight, etc.

Havent seen anything here for EX-L with navi. Anyone get for less than $1k over invoice?

stevecar

I paid about 27,800 including auto mirror and wheel locks. But there was a trade in involved that confused matters a little. These Nav ones are somewhat limited in numbers

armandlev

the 27,100 included wheel locks, mud guards and i think the mirrors were power.

Your 27,800 was without Tax, title, fees, etc., right?

stevecar

Correct. However, title was less because I already had plates. taxes were based on net after trade, so I got more for the trade and was willing to pay a few hundred more for car because i saved the trade in value of taxes. freight was extra.
For me, it was a sense of time vs shopping further with my trade.
Power mirrors are standard. rear mud guards are built in. it seems like a decent price. depends also what time is worth.The price is certainly lower than in february.Test them about throwing in rear cargo tray and/or fog lights.(I didn't)Live and learn

fac1

Does any body bought CRV EX AWD under $23000 in Chicago area?

oireachtas

I paid 25,126 before TTL and destination - 26999 OTD. This was for a EX-L 2WD with navigation. I felt like I did OK. I probably lucked out since several dealers would not touch it at this price.

marig0107

nope, you did about right with the navi. I did have the mudguards which the dcealer made it seem like it was extra, but we refused to pay extra for that and the stupid pin striping, so they therw that in for 'free.' HA!

Navi's seem to be particularly hard to find. The Honda and Toyota dealers here in TN told us that this was not a luxury car area so it would be harder to find certain upgraded models and even specific colors.

starhusker

Sounds like a great deal to me. Could you tell me where you are located? I'm in NJ and also looking for LX 4WD. The best price quote I got was 21300 (base price).

vikpad

yeah plz emial better dealers in NJ area to vikram_pad@hotmail.com. None of the dealers are coming down on base price of 21800 on black CRV LX 2007. ON rouad is 23800. Not sure if this is a good price.

parmar

That's really good deal. In which area you are? From which dealer you got it?

flyeagle

hi,

anyone bought Honda 2WD EX recently in Houston area? what is the drive-out price? could you share some information?

Thanks,

Chris

parmar

Anyone have any suggestion for good dealer in Dallas area. Looks like in Dallas area prices are hot (like weather here) ... talked with couple of dealers and all are selling at sticker prices only.
Please help with good suggestion for DALLAS area.

69mach

I found that most dealers in the Dallas area tend to load up their vehicles with a slew of high profit dealer add-ons, then want to work from that super inflated price.

Try Freeman Honda - I was able to purchase one for less than MSRP with absolutely no dealer add-ons from them (2WD EX-L).

Check with their internet sales department, you can play one dealership off the other, but be aware, there are dealerships that will pull all sorts of tricks so as to not honor an agreed upon price.

Freeman was up front out of the gate with me and never once tried to up-sell me on anything else - not even a warranty.

I did buy the 7Yr, 120K, $0 deductible Honda Care Warranty from them, but they matched the price I had gotten from the Internet (985.00) with no questions asked. I asked for the warranty, the finance person never brought it up.