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The manual transmission is a rare bird around here, have to wait till Tuesday to get possession (with my fingers crossed).
Quotes varied from the above price up to $23,035.00. Given five working days to respond, three out of six dealers didn't even bother to reply by the cutoff date, guess they don't need the sales.
Is there anyone else from this area out there with some numbers to compare? I think I got a fair price but that feeling may just reflect the caliber of Honda salesmen down here.
JRA03
Have fun with your new truck.
Two Year.
Also, lowest quote I have received is $20,980, including destination. Excl. tax & registration. Sounds good, but I was going to offer them or a competing dealership to go to $20,000, incl. destination. Excluding tax & license. Maybe offer $21,000 OTD.
Should I start offer at $20,000 OTD and go up or just hold steady to $21,000 OTD.
Thoughts/advice appreciated. Thanks!
Does that seem like a good quote from them? And how much less than what I really want to pay should I start counteroffering? And, you CAN counteroffer some with internet quotes, right?
(Nobody here in LA? This forum seems to be sleeping right now...)
Doc fees shouldn't be over $50, but if you focus on the OTD price, you don't have to haggle the line items.
You can, and should, counter offer internet prices; it's often useful to collect a few quotes and play the dealers off against each other. One will usually be hungry :-)
Steve, Host
i have been researching for small SUV's for past month . the ones i test drove are RAV4's and CR-V's . i decided on CR-V 2004 AWD EX [ which my dad also thought is better of the two ] . my question for you CR-V members is : should i get extended warranties on CRV ? if so , which ones do you recommend [ based on your CRV experience ] ?
i thank you and smile !
tidester, host
Should I have the letter say that I am pre-approved for a $20,000 loan (which I am) or for just $14,000 and tell them I am prepared to put down $6000, which is really the way I plan to pay for it. (I thought maybe the $20,000 letter would help me negotiate that particular price, but does it even matter?) Remember that this is the first time that I am going through the dreaded car-purchasing process. Although I feel better prepared thanks to all your discussions.
Also important--since I am going through my credit union and making a down payment, do the car dealership still need to run my credit??? Just want to be prepared.
Lastly--is even worth getting the Consumer Reports Wholesale Price at this point? I feel pretty good about all the info I've received from Edmunds.com and its forums.
Thanks for taking the time to respond, anyone...would really appreciate it!
ELissa
A: I don't think HOW you pay for the car is relevant when discussing HOW MUCH you will pay. Leave the loan letter and the credit union out of the negotiations. Bring a financial calculator and read all the lines in the paperwork to make sure you are not getting taken somewhere. Always feel like it's ok to walk out and buy the car another day.
2) Should I have the letter say that I am pre-approved for a $20,000 loan (which I am) or for just $14,000 and tell them I am prepared to put down $6000, which is really the way I plan to pay for it.
I save the "how I'm going to pay" discussion until after we've worked out what I'm going to pay. Always leave the possibility that you might finance through them dangling in the air. If they think you might finance with them, they might cut you a better deal?
3)Since I am going through my credit union and making a down payment, do the car dealership still need to run my credit???
They may still need to do some of this "just in case". I'm sure they've had their fair share of fraudulent checks so they need their own financing as a backup if your check does not go through. Just make sure on the paperwork where they write down any interest rates, that the same rate you have from the credit union or better applies. Another "just in case".
4) Is even worth getting the Consumer Reports Wholesale Price at this point? I feel pretty good about all the info I've received from Edmunds.com and its forums.
I go to the dealerships with that printed out. It's always worth it. You don't want to pay more than invoice if you can help it and the wholesale price gives you justification for that and will give you something to refer to during negotiations if they try changing things here and there. And like Steve said, doc fees at $50 are customary - more than that and they are ripping you off. Tax and title they don't have much control over. Destination is always $490. You might as well negotiate the price of the vehicle without all that stuff and try to get it at or below invoice.
Other advice:
- I like to not sit down in a dealership until our price is verbally agreed to. But sometimes you just get sick of standing.
- Always be prepared to walk out if you feel you're not being treated fairly or not getting the price you want.
- Always read everything before you sign.
- Always double check your math and their math to make sure it all ads up.
- I don't bother with the rustproofing, clear coat protection, extended warranty or fabric protection - I think they are all ripoffs but the dealer will most likely try to scare you and convince you that your wonderful new car will rust, stain, chip and fall apart if you don't buy all that stuff. Just keep in mind, it can all be purchased after-market for hundreds less (compare $600 for fabric guard to a $5 can of scotch guard or a $600 rust proofing to $10 touch up paint....)
Good luck! I live up near San Francisco myself and just bought two new cars (a CR-V and a Subaru Forester) in the last three months at or below invoice so I'm happy to help. Feel free to email me too.
Elissa
It's easy enough to wire transfer funds if the dealer doesn't want to accept your check without checking your credit - I pay my VISA bill that way now from my checking account and it's free at my bank.
Here's a link: Fair Credit Reporting (FTC)
Oh, and Forbes has a column this morning about car sales - inventories are high right now and Honda sales are down, so it's a good time to buy. Stick to your guns.
And you can get wholesale (i.e. invoice) pricing free here, and you can cross check at Kelley for free if you don't believe us. If you insist on spending money, buy an InfoPak instead, LOL.
Steve, Host
These are NOT distressed merchandise however in any marketplace. The prevailing market vs. supply will always determine pricing. I do know the So. Calif marketplace can be very hostile.
A couple of good stores....
Metro Honda in Montclair...
Scott Robinson in Torrance
Costa Mesa Honda...not sure what the store is called.
I can only say I've met the owners and/or managers of these places and they seem very upfront.
I'm sure there are other good stores as well.
There are no "incentives" on CRVS and holdback is not profit.
Good Luck!
tidester, host
thank you for 'extended warranties' link , the info was helpful even they dont relate only to CR-V's ,
thanks again and ride happy
Nobody said anything about the price--lowest quote: "$20,900 (incl. destination)+tax and license". Is that good? Should I still start negotiating at $20,000 or start from $19,500. Please advise. If I paid 20,500 (inc. destination) plus tax & license--would that be a good price? (I am using that as my target.)
Also, any input re: how much the "Clearance" will really affect my "savings". Couple of hundred? Five hundred? 1,000?
Thanks!
regards,
kyfdx
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Steve that Forbes article is from May 18th, not July 28th as you state... unless you posted the wrong link.
Yo isellhondas, if holdback isn't profit, then what is it? The dealership is getting money back from the manufacturer. Prep, advertising costs, etc are all factored in to the cost of the car. I'm confused!
It's BELOW dealer invoice! What more do you want?
Hopefully it wasn't a lowball.
Just watch out for high doc fees.
It HELPS pay for flooring and a bit of advertising. It DOES NOT fall to the bottom line as profit.
In addition to holdback we also have this nasty thing called overhead.
I don't want or expect my customers to even think about the massive costs it takes to open the doors. Likewise, we really don't like hearing all of the time about how much we "make" from holdback.
Make sense?
My out the door cost was $22,640. No extras purchased.
I suggest you go at the end of the month, make it clear to the salesperson you intend to buy a car that day, take the paperwork to back you up, and be prepared to go to another dealer if necessary. Good luck and best regards.
Steve, Host
This is good advice for buying any car. You will never know how low a price you can get, until your offer is accepted. All the shopping in the world and asking for quotes won't find that out for you. To get the lowest price, be ready to buy and make an offer.
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Good luck!
You said,
You don't want to pay more than invoice if you can help it and the wholesale price gives you justification for that and will give you something to refer to during negotiations if they try changing things here and there. .....ou might as well negotiate the price of the vehicle without all that stuff and try to get it at or below invoice."
Are you saying that you purchased your most recent cars at the dealer's invoice price, the wholesale price, or something in between?
TIA