OTD Price on 2015 Honda Accord LX in NJ

chaiya

On line price promise for 18,693. New 2015 Honda Accord LX in NJ. OTD PRICE of 22,908 which includes an assortment of fees and sales tax. Is $22,908 a good OTD price for a new 2015 Honda Accord LX in NJ? Please let me know as soon as possible.

kyfdx

chaiya said:

On line price promise for 18,693. New 2015 Honda Accord LX in NJ. OTD PRICE of 22,908 which includes an assortment of fees and sales tax. Is $22,908 a good OTD price for a new 2015 Honda Accord LX in NJ? Please let me know as soon as possible.

Why don't you list the fees and taxes. $4200 seems like a lot to pay over the selling price.

ken117

If I am correct, NJ sales tax is 7 percent on vehicles. At an $18,693 selling price, sales tax would be $1,309. The total price, including sales tax, would be $$20,002. To that you would need to add registration, not sure in NJ but a Google search shows DMV fees to be around $93.

In any case, it would seem the OTD price, including tax and registration, should be something near $20,100.

You need to ask the dealer for a breakout of the $22,908 amount. There appears to be a good possibility of mischief. Remember, any fee added by a dealer which is not a state fee like sales tax and registration is really not a fee. They are, actually, simply the selling price broken into two parts, price and fees. However, the net of the two is the actual selling price.

In this case, this dealer may be guilty of advertising a false price to lure folks to the dealership Once they have the buyer on the lot, they spring the added fees hoping the buyer will fall for the fake fees.

What you should pay is negotiated price plus state fees only.

To arrive at a price point, take invoice less hold back less incentives. For example, if the invoice is $19,000 and the hold back is $300 and there is a dealer incentive of $1,000, your starting point for negotiations would be $17,700. Of course, you will need to add something for dealer profit. Start at around 3 percent or $500. Offer the dealer the price, and let them know that price includes any silly dealer fees like documentation fee, of $18,200. Let them counter.

If they don't come near this price, walk away. In any negotiation, you rarely see a dealer's lowest price until that dealer believes you are walking out the door.

Always remember, the dealer needs you more than you need the dealer. There is always another dealer.

Finally, recognize anything a sales person tells you is not necessarily true. It is always smart to be skeptical.

chaiya

Thanks so much for your help. Here is the break down of the numerous fees they hit me with. They did not tell me any of this until the end and I was by myself and in a state of shock. I know there is no excuse for the stupidity on my part, Please let me know if they price gouged me. I am sick to my stomach. I left a 1,000.00 deposit yesterday. If they price gouged me, what recourse do I have now?

18,693 internet price promise
695.00 - propack package
820.00 - destination fee
total price of vehicle - 20,706.00
NJ sales tax - 1,449.42
on line processing fee - 10.50
motor vehicle tire fee - 7.50
registration/title fee - 286.00
documentary fee - 449.00
total - 22,908.42

Michaell

chaiya said:

Thanks so much for your help. Here is the break down of the numerous fees they hit me with. They did not tell me any of this until the end and I was by myself and in a state of shock. I know there is no excuse for the stupidity on my part, Please let me know if they price gouged me. I am sick to my stomach. I left a 1,000.00 deposit yesterday. If they price gouged me, what recourse do I have now?

18,693 internet price promise
695.00 - propack package
820.00 - destination fee
total price of vehicle - 20,706.00
NJ sales tax - 1,449.42
on line processing fee - 10.50
motor vehicle tire fee - 7.50
registration/title fee - 286.00
documentary fee - 449.00
total - 22,908.42

Of that list, only the propack and the doc fees are a bit outrageous. Everything else is either mandated by the state or by Honda

If you haven't taken delivery yet, there may still be time to fix this. Find out if the deposit you left is refundable.

kyfdx

Well... there you go.

The price isn't $18,693, it's actually $20,706 + $449 doc fee, or $21,155.

What is the MSRP on that vehicle?

chaiya

But, they quoted me a price promise of 18,693.  I thought that a promise is a promise and the price would not change.  The MSRP is 22,925.  I don't understand.  Did I get ripped off?  Please advise me.  I really appreciate all your help!  The contract says that the deposit is not refundable.  I did not take delivery of the car yet.  Do I have any recourse?  What should I do?

kyfdx

chaiya said:

But, they quoted me a price promise of 18,693.  I thought that a promise is a promise and the price would not change.  The MSRP is 22,925.  I don't understand.  Did I get ripped off?  Please advise me.  I really appreciate all your help!  The contract says that the deposit is not refundable.  I did not take delivery of the car yet.  Do I have any recourse?  What should I do?

They can say whatever they want... If you haven't taken delivery, then there is no deal.

First, call them immediately and tell them that the price wasn't what was promised and you won't do the deal. Then ask for your money back.

If they don't respond immediately, stop payment on the check. If it's a credit card, you can dispute the charges.

If you feel they misled you, you can complain to Edmunds about their Price Promise dealer.

chaiya

Thanks so much Kyfdx, Ken117 and Michaell for all your help. This is the first time that I have bought a car in a long time and I am doing it on my own. Your feedback is so helpful. Is 22,908 a good OTD price in NJ for a 2015 Honda Accord LX? Please let me know what you think about this OTD price. Thank you so much for all your help!!!

Michaell

chaiya said:

Thanks so much Kyfdx, Ken117 and Michaell for all your help. This is the first time that I have bought a car in a long time and I am doing it on my own. Your feedback is so helpful. Is 22,908 a good OTD price in NJ for a 2015 Honda Accord LX? Please let me know what you think about this OTD price. Thank you so much for all your help!!!

I would post your detailed information on this discussion:

http://forums.edmunds.com/discussion/30932/honda/accord/2015-honda-accord-prices-paid-and-buying-experience#latest

And let @brian125 review the deal. He is the local Honda expert and can tell you where you can save money, and what dealers in NJ to work with to get the best deal.

One thing I know he is going to say is to absolutely wait until the last day or two of the month to get your best deal.