2016 Honda CR-V Prices Paid and Buying Experiences

stever

Welcome @doppelg,

Invoice is $25,169, MSRP is $26,745 and the TMV average price paid for DC is $24,743. All those numbers include the $900 destination.

Guess that's a typo above and the MSRP is really $25,845. No matter.

Okay, your selling price with destination is $22,492. (I always include the destination because it's an unavoidable part of the selling price).

So that selling price is $2,677 below invoice. That's a terrific number.

The dealer is making their profit on the excessive doc fee. That's not necessarily bad, dealers have to eat too.

Hope this helps.

stever

For VA/NJ dealers, check out this post and this post by @brian125. And click over to his profile and skim his posts, lots of great buying info in them.

doppelg

stever said:

Welcome @doppelg,

Invoice is $25,169, MSRP is $26,745 and the TMV average price paid for DC is $24,743. All those numbers include the $900 destination.

Guess that's a typo above and the MSRP is really $25,845. No matter.

Okay, your selling price with destination is $22,492. (I always include the destination because it's an unavoidable part of the selling price).

So that selling price is $2,677 below invoice. That's a terrific number.

The dealer is making their profit on the excessive doc fee. That's not necessarily bad, dealers have to eat too.

Hope this helps.

Thanks for the feedback @stever.

I'll also check out @brian125's posts.

krish16

krish16 said:

@stever Thank you. Good suggestion. Not today, not the end of the world. I'll workout for another $400.

stever said:

Hi @krish16, I think you have an okay deal - better than average but not as good as some. But someone, somewhere always gets a better deal. That someone also typically spends a lot more time and effort for the last $200.

If you ask for a breakdown, the dealer may think you're about to walk away. That could be a good negotiating tactic and will also tell you if the dealer is sticking you for junk fees.

But if you are time pressed and like the car but don't like the haggle, just do the deal and start enjoying the new ride. At worst we're talking a few extra Starbucks a month. Life is short.

Oh, and if you don't do the deal today, it's not the end of the world. Inventory on the 2016s is shrinking but deals can be had every day of the week all year long. Willingness to walk and wait is often an effective strategy and you may decide the heck with it and go shop a CX-5 or RAV4. (Easy for me to say since I don't need a new car and don't have any car fever).

@stever How about $29,200 OTD including 8.25% cook county, chicago tax with CRV EX L AWD? I'm getting hard to find cheaper than that at this time.

delta737h

Just made this deal for a 2016 Honda CR-V Touring AWD with Park Honda in Akron, Ohio...

MSRP..................................................................................................... 34,395

Selling Price
Agreed Upon Value…………………………………………………………….…………… 30,102.39

Amounts Financed (Capitalized)
AHFC Acquisition Fee…………………………………………………………………………… 595.00
Documentation Fee………………………………………………………………………………. 250.00
First Payment…………………………………………………………………………………….. 353.00
Medina Sales Tax @ 6.75% x 35 x 330.22………………………………..…………………….. 780.14

Capitalized Costs
Gross Capitalized Cost………………………………………………………………….……… 32,080.53
Capitalized Cost Reduction (Trade Equity - Leased 2013 Mazda CX-9 Sport) ………………. 865.00
Adjusted Capitalized Cost……………………………………………………………………… 31,215.53

Residual Data
Residual Factor………………………………………………..…………………….…………. 0.57
Residual Value (Residual Factor × MSRP) ………………………..……………….…….….… 19,605.15

Cost of Money/Term
Money Factor…………………………………………….……………………….……….…… 0.00060
Term (months)……………………………………………………………………….………… 36

Lease Payment Itemization
Monthly Lease Payment…………………….…………………..……….…………….…….… 353.00
Taxable Monthly Lease Payment……………………………………………………..……….. 330.22

Estimated Charges Payable at Lease Signing
License, Title, Registration Fees (estimated)……………….……….…………………...…….. 115.00
Estimated Amount Due at Lease Signing……………………………………………..…..… 115.00

Fund Provider: AHFC
GAP Protection: Included
Annual Mileage Allowance: 12k
Disposition Fee: $350
Excess Mileage Charge: $0.20 per mile

TOTAL OUT OF POCKET OVER LEASE TERM: 35 x 353 = 12,355 + license/registration fees
Estimated total cost per mile: $0.45 (includes lease payments, gas, oil changes, insurance, licensing fees)

404crvowner

Hi all-

This board was helpful for me so thought I'd return the favor.

Purchased a 2016 CRV-EX FWD in Atlanta. Dealer listed $400 worth of "upgrades" that included mud flaps, etc.

Sale Price 23,320
Doc fee 598 (standard around these parts)
Taxes 1,479
License and fees 96
--------------------------------
Total price 25,500

On paper not the best deal....but instead of negotiating price of car, I was able to negotiate a trade in value that was $500-$750 above high value for a car that had severe mechanical issues.

I did ask for several quotes online before purchasing. OTD pricing ranged from $25,300 to $26,000 without trade in.

stever

krish16 said:

krish16 said:

@stever Thank you. Good suggestion. Not today, not the end of the world. I'll workout for another $400.

stever said:

Hi @krish16, I think you have an okay deal - better than average but not as good as some. But someone, somewhere always gets a better deal. That someone also typically spends a lot more time and effort for the last $200.

If you ask for a breakdown, the dealer may think you're about to walk away. That could be a good negotiating tactic and will also tell you if the dealer is sticking you for junk fees.

But if you are time pressed and like the car but don't like the haggle, just do the deal and start enjoying the new ride. At worst we're talking a few extra Starbucks a month. Life is short.

Oh, and if you don't do the deal today, it's not the end of the world. Inventory on the 2016s is shrinking but deals can be had every day of the week all year long. Willingness to walk and wait is often an effective strategy and you may decide the heck with it and go shop a CX-5 or RAV4. (Easy for me to say since I don't need a new car and don't have any car fever).

@stever How about $29,200 OTD including 8.25% cook county, chicago tax with CRV EX L AWD? I'm getting hard to find cheaper than that at this time.

Sorry for not getting back to you sooner - looks like you got them to come down a good bit, nice going. Sounds like your ready; grab it and go enjoy!

stever

krish16 said:

krish16 said:

@stever Thank you. Good suggestion. Not today, not the end of the world. I'll workout for another $400.

stever said:

Hi @krish16, I think you have an okay deal - better than average but not as good as some. But someone, somewhere always gets a better deal. That someone also typically spends a lot more time and effort for the last $200.

If you ask for a breakdown, the dealer may think you're about to walk away. That could be a good negotiating tactic and will also tell you if the dealer is sticking you for junk fees.

But if you are time pressed and like the car but don't like the haggle, just do the deal and start enjoying the new ride. At worst we're talking a few extra Starbucks a month. Life is short.

Oh, and if you don't do the deal today, it's not the end of the world. Inventory on the 2016s is shrinking but deals can be had every day of the week all year long. Willingness to walk and wait is often an effective strategy and you may decide the heck with it and go shop a CX-5 or RAV4. (Easy for me to say since I don't need a new car and don't have any car fever).

@stever How about $29,200 OTD including 8.25% cook county, chicago tax with CRV EX L AWD? I'm getting hard to find cheaper than that at this time.

Sorry for not getting back to you sooner - was on the road much of the day, went up to Albuquerque - you know, Route 66. Funny that the other end from you is in LA/Santa Monica where Edmunds HQ is. Looks like you got them to come down a good bit, nice going. Sounds like you're ready; grab it and go enjoy!

stever

Congrats @delta737h and congrats to you too @404crvowner, and thanks for the reminder that you have to negotiate your trade-in too. You handled that wrinkle nicely.

Anyone else have deals to report?

crvbuyer8

@stever I got a quote from Boch honda in Boston area for CRV EX AWD, $24,480 with destination included, doc fee $400, do you think it is good deal ?

krish16

stever said:

krish16 said:

krish16 said:

@stever Thank you. Good suggestion. Not today, not the end of the world. I'll workout for another $400.

stever said:

Hi @krish16, I think you have an okay deal - better than average but not as good as some. But someone, somewhere always gets a better deal. That someone also typically spends a lot more time and effort for the last $200.

If you ask for a breakdown, the dealer may think you're about to walk away. That could be a good negotiating tactic and will also tell you if the dealer is sticking you for junk fees.

But if you are time pressed and like the car but don't like the haggle, just do the deal and start enjoying the new ride. At worst we're talking a few extra Starbucks a month. Life is short.

Oh, and if you don't do the deal today, it's not the end of the world. Inventory on the 2016s is shrinking but deals can be had every day of the week all year long. Willingness to walk and wait is often an effective strategy and you may decide the heck with it and go shop a CX-5 or RAV4. (Easy for me to say since I don't need a new car and don't have any car fever).

@stever How about $29,200 OTD including 8.25% cook county, chicago tax with CRV EX L AWD? I'm getting hard to find cheaper than that at this time.

Sorry for not getting back to you sooner - was on the road much of the day, went up to Albuquerque - you know, Route 66. Funny that the other end from you is in LA/Santa Monica where Edmunds HQ is. Looks like you got them to come down a good bit, nice going. Sounds like you're ready; grab it and go enjoy!

No problems at all @stever . Thanks for your help. I'm done with that deal, getting to drive a new car by weekend.

stever

crvbuyer8 said:

@stever I got a quote from Boch honda in Boston area for CRV EX AWD, $24,480 with destination included, doc fee $400, do you think it is good deal ?

Invoice with the $900 destination is $26,526, so your quote is $2,000 below that. Yes, good deal. Can't really complain about the doc fee since the quote is better than expected for your area (the TMV average is only $100 below invoice). Helps too that the 2016s are winding down.

Looks like Bosh has good sales reviews here.

crvbuyer8

@stever thanks. Will let you know how it goes.

maa2

@crvbuyer8 , we got quote $23,900 for CRV EX AWD from Boch Westford. You have still room for negotiation and you can save additional $400-$500.

xinxin_gn

I bought a CRV EXL AWD last weekend with selling price $25609 plus tax, doc fees, and title.  Thanks so much @stever , @5morehp for the help, and I learned a lot from this forum.

mnrlblue

Is there a forum for how much I should try to sell my 2006 CRV EX for with 147K. I want to sell it myself and not trade it

Michaell

mnrlblue said:

Is there a forum for how much I should try to sell my 2006 CRV EX for with 147K. I want to sell it myself and not trade it

Try here:

http://forums.edmunds.com/discussion/1212/general/x/real-world-trade-in-values

mnrlblue

Thanks!

casler

Minneapolis/St. Paul purchase... 2016 CRV-SE FWD

MSRP: $25,545 and Invoice: $24,045

Purchased from Inver Grove Honda for $21,675 with the sell-price being $2370 below invoice (doc fee in Minnesota is capped at $75). Qualified for the 0.9% financing, but no consumer rebates applied.

I wanted to thank everyone for sharing experiences. The posting last week of a similar purchase by cell66 was quite helpful. Many thanks to stever for all of the forum responses.

stever

maa2 said:

@crvbuyer8 , we got quote $23,900 for CRV EX AWD from Boch Westford. You have still room for negotiation and you can save additional $400-$500.

Thanks for the post @crvbuyer8 - it's really nice to have "feedback from the field" so to speak, instead of just relying on the "book" values.

Kirstie_H

A reporter is working on a story about car shoppers who are only interested in buying cars that are made in the USA. If you're one of these shoppers, and you'd like to talk about your experience shopping for American-made vehicles, please reach out to PR @edmunds.com by no later than Thursday, September 15, 2016.

chickenchaser

I ended up purchasing a 2016 CRV-LX FWD outside of Richmond, VA. Here is the final price I paid:

Sale Price: $20,900
Taxes/Title/Plates: $987
Document Fees: $499
OTD Price: $22,386

One of the other local dealers actually had a better price by about $200 to $250, but the car wouldn't have arrived until the weekend.

stever

Congrats!

doppelg

Genuine question - Does it make sense to buy a 2016 CR-V at this point? My theory is that 2017 is around the corner and when it becomes available, the prices of 2016 CR-Vs might go down by a few hundred dollars. So if one were to wait for a few weeks, there's potential for savings.

Does this make sense? If so, do we have any idea as to when the new 2017 CR-Vs would be available? Also, how much approximate difference in pricing might we see from current levels?

Thank you.

brian125

As the 2016 stock gets depleted your choice is limited . If you were to buy a 16 model in Nov, or Dec the price will be better, But on Jan, 1st 2017 your 2016 model is considered a 1yr old model and has depreciated 2500 to 3k dollars If vehicle is totaled or stolen. So does it pay to get a 2016 or 17 model ?

brian125

If you plan on keeping your vehicle 8 to 10 yrs. a 2016 model may be more appealing to you.

stever

I drive mine forever and I'd still rather have the latest and greatest. A few hundred bucks over ten years isn't going to make much difference either way.

brian125

I'm with you @stever on that one to

brian125

Not the drive my vehicles forever thou

stever

lol, I think you've had more new cars in the last three years than I've had in three decades.

pdesai1

Hello

I received a quote in TN for a 2016 CRV Touring. I am trying to determine if this is a good deal and would appreciate feedback.

OTD Price- $27,500 +TTL
Documentation Fee- $499

Is this a decent deal?

stever

Hi @pdesai1, using my brother's zip code outside of Chattanooga I see that the TMV average price paid is about $100 over invoice for the FWD Touring. Invoice is $31,019, including the $900 destination.

Looks like the tax rate there is 7%, plus any city/county taxes and fees.

Without doing all the math, it looks like your selling price is well under invoice and that kind of makes up for the high doc fees.

Looks very decent from here.

amao

Hey "Chickchaser", can you please tell me which dealership you bought from and which dealership had a better price? Overall, how did you negotiate the price, through email or in person? TIA.

chickenchaser said:

I ended up purchasing a 2016 CRV-LX FWD outside of Richmond, VA. Here is the final price I paid:

Sale Price: $20,900
Taxes/Title/Plates: $987
Document Fees: $499
OTD Price: $22,386

One of the other local dealers actually had a better price by about $200 to $250, but the car wouldn't have arrived until the weekend.

jennnissan

Hi - I am looking to purchase a 2016 CRV-SE from Bennington, VT. The OTD price I was quoted is $25,775.19. I'm right on the border of Massachusetts and contacted two dealers in Mass who said they can match that price, but not beat it. Have I really reached the bottom line price or do you think I can get it lower?

mnrlblue

After reading your email again I wanted to respond to the other prices ($30,000/$30,100) please keep in mind there are dealer fees in those other states that get tacked on to the price. So say they sold the vehicle for $30,000 the dealer would then tack on dealer fees of $2,000. The dealers in those other state get to tack on what ever they want. Virginia also has really large fees and taxes. I learned this by googling tax on vehicles in those states.


This is the email I received when I told a local dealer in central New York that CRV AWD tourings recently sold in Boston and Ohio for 30,000 and 30,100 I have no idea why they brought up Virgina, as I was not citing a Virginia place. Are they just playing me? Since we are now later in September and I think they are being more aggressive what could I go in on Friday and ask for for a touring AWD in central New York?

stever

jennnissan said:

Hi - I am looking to purchase a 2016 CRV-SE from Bennington, VT. The OTD price I was quoted is $25,775.19. I'm right on the border of Massachusetts and contacted two dealers in Mass who said they can match that price, but not beat it. Have I really reached the bottom line price or do you think I can get it lower?

I'm assuming AWD - invoice is $25,169 and the TMV average price paid is about $200 more.

Your quote with taxes and fees is about $500 above invoice - it would help to have a breakdown but my guess is that you are at least $1,000 below invoice.

It varies, but most states limit the use of lemon laws to cars purchased in their state, so that could be an issue if you wound up with a lemon (unlikely as that is). So all things being equal otherwise, I'd just as soon buy in-state. For a few hundred bucks, I'd take my chances and just rely on warranty law.

stever

@mnrlblue, those differences in taxes and fees are what makes it hard to compare OTD prices in the forums.

OTD is a good way to negotiate since you don't waste time haggling over the fees and other line items, but it's a big help to other posts to break out the selling price in your deals.

mnrlblue

Thanks....yeah I just want to know if I can get the price of the car down to $ 30,000 (including Destination) but then taxes and fees will be on top of that - which now thanks to this group I can watch out for) Is 30,000 good and fair price or can i get it down farther somewhere in the 29K range - since we are getting farther in to the end of the year? Not sure what the Touring AWD inventory is like in central new york. Hoping to go out in person on Friday and talk to do dealers and get this done. Thanks for all your help! What a great resource this is.

stever

I don't see many Touring models around Syracuse, just six. Sometimes the inventory listings lag and don't get updated quickly but you can look at the dealer sites - often they'll list inventory too. That should give you a pretty good idea of what's out there.

If I go out 200 miles from Syracuse, the number of Tourings jumps to over 300 available.

mnrlblue

Thanks Stever!

weili28

Hi, I got a quote for 2016 LX AWD below:
Sonic Price: $22,691
Freight: $900
Processing Fee: $599
Tax: $1,451.40
Tag: $346.50
VA State Business Tax: $41.12

I am in Burke VA (22015). Is this a fair price?

osbornk

State tags are $40.75-$45.75 per year. Your local tags must be enormous. My local rags are $25

stever

weili28 said:

Hi, I got a quote for 2016 LX AWD below:
Sonic Price: $22,691
Freight: $900
Processing Fee: $599
Tax: $1,451.40
Tag: $346.50
VA State Business Tax: $41.12

I am in Burke VA (22015). Is this a fair price?

Invoice with destination (aka freight) is $24,420. So your selling price quote before fees is about $1,800 below invoice.

Note that the TMV average price paid for your zip is $24,005. That indicates you have aggressive dealers there - not sure that you've found one.

We've seen NOVA reports of $2,500 to $3,000 below invoice - with the $600 processing fee your quote is really just $1,200 below invoice. I'd like to see you get closer to $2,000.

It's getting late in the model year and selection is getting a bit smaller, but I there's ~200 LX AWD models within 50 miles of you when I check our inventory listing.

So you may want to shop the quote around and if you aren't in a big hurry, aim to buy at the end of the month. Your deal is only average compared with others we've had reported in this discussion. Good luck and please keep us posted!

pharmtox

Hi. I am looking to buy a 2016 CR-V Ex trim. Please let me know if the following quote sounds reasonable. I am in Nashville (zip =37228).

Selling Price = $ 23,493 (including 900$ destination) + 489$ doc fee+ Taxes and Title.

Thanks in advance.

stever

Hi @pharmtox, the True Market Value average price paid for your area is $25,274, which is about $30 under invoice. That number includes the destination and we're talking a FWD version.

So your quote is ~$1,800 below invoice.

Where they get you a bit is the high doc fee - be nice to whack the OTD number down a couple of hundred bucks to account for that. Up in VA/MD, we see deals of $2,000+ under invoice with lower doc fees.

Good luck and let us know how it goes!

pharmtox

Thanks for that info Stever. I will try to negotiate more. I am hoping to get a more better deal by trying to negotiate may be in the last week of Sept. Will update once I reach a deal!

stever

The last of the month is a good time to bargain, assuming you can wait and assuming that there's "enough" inventory so you are okay with the trim and colors available. I only see 45 EX's within 50 miles of Music City. (link)

I dunno, it's been 4 decades since I lived in Tenn. and when I go back annually to visit family in 'Nooga, I'm always a bit dumbfounded about the cost of living there. Cheap gas and no income tax, but that's about it. Car prices in the Southeast don't seem all that competitive -- at least y'all aren't up to the $800 doc fees that Florida has. But go west through TX to NM and we aren't any much better.

pharmtox

@Stever. Yea, I am a bit anxious about the inventory too. I am in contact with a dealer who has couple of EX's in the color that I want. Hoping it stays that way a week more!

On another note, I just noticed that the 0.9% Honda financing offer is no more available for the brand new CRV's. Its only available for certified pre-owned. Any idea if it might come up again soon? Or how they play this low rate game?

Nashville is a fun place. Though I still feel the cost of living (especially housing) is a bit high as compared to the south overall.

Thanks again!

stever

Hm, we still show the 0.9% through 10/31/16. Although I don't see that incentive at Honda.com there's a chance it's still valid, per some "inside" info that I have (occasional) access to. That said, those incentive programs are subject to change. Best ask the dealer.

How they play the incentive game is - who knows. Maybe they think the Fed is going to finally raise rates one of these days.

One of my nephews went to MTSU and wound up living there for another 5 or 10 years after graduation. Then he landed back in Chattanooga and switched his home river to the Ocoee. A woman from Knoxville was involved and they wound up splitting the difference. He really liked living up your way though.

pharmtox

@Stever thanks for that info. I will check with the dealer soon. Hoping the low rate is still valid! Will update the deal info soon!

I like the way you frame those events about your nephew . Fun!