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Is this a good price for a Civic Hatchback?

newbiebuyer1newbiebuyer1 Posts: 1
edited December 2016 in Honda
I have been offered an out the door price of $25,500 for a 2017 Honda Civic Hatchback EXL w/ Navigation. Vehicle will be registered in Chicago, Cook County. Is this a good price?

Comments

  • steverstever Posts: 52,683
    edited December 2016
    Seems like your taxes are 10 to 10.5% there, right?

    Backing out 10%, I get a selling price around $23,000. MSRP is $26,135 with destination and TMV is coming in at $25,672. So you're out the door a little bit below the average selling price. That's good.

    On a percentage basis, assuming my backward selling price calculation is close, you're about 12% under MSRP. That's good too.

    Nice rides, we test drove one a month or so ago. Not convinced about the passenger seat, wish it was as adjustable powered in the XLE as the driver's side is. I was really impressed with the LaneWatch. Honda Sensing wasn't available yet when we were looking.

    Good luck and let us know how the negotiating goes.

  • DebPDebP FloridaPosts: 5
    Looking at the 2017 Civic Hatchback EX 

    MSRP: $23,635
    offered price of $21,062 + tax/tags

    is this a good price? Thanks!!
  • steverstever Posts: 52,683
    Hi @DebP, yeah, that's a good price. It's about 10% off MSRP.

    Watch out for any other fees besides tax/tags, especially if you are buying in Florida.
  • DebPDebP FloridaPosts: 5
    Thanks! We just moved to MA.  Traded in my 2WD EX CRV lease for a AWD EX-L and need a second car.  My husband really liked the Sport trim that was in the showroom, but the EX comes with so much more and there isn't a huge performance difference.  Luckily the touring isn't out yet because it's priced much higher!

     There is a doc fee for $300 that was on every MA dealership quote I received, so I guess I am really paying $21,362.  Most of the quotes were over $22k
  • steverstever Posts: 52,683
    Wrong direction this time of year. :)

    $300 is only about $250 too much. $700 to $900 doc fees are common in Florida so it could be lots worse.

    Enjoy the new ride!.

  • s2kroma1s2kroma1 MentorOnTheLake, OHPosts: 19
    Started shopping today for a 2017 Civic LX Hatchback Auto Trans. Received a quote from a local dealer here in OH zip 44060 price of $19,427.00 (MSRP $21,335.00). Is this a good deal or not? Thanks in advance.
  • steverstever Posts: 52,683
    Hi @s2kroma1, that quote is about 9% below MSRP, assuming the dealer has the destination ($835) in there.

    I think that's pretty good for your area. The True Market Value average price paid there is $20,565.

    The usual range is 8 to 12% below MSRP - you're shopping a new ride that hasn't been on the market all that long and the reviews are great. They were going for MSRP here last I looked.

    If you want to counter, try 10% off MSRP or $19,202. Or shop the quote around and aim for 12% off, around $18,775. I don't see most of the dealers going that low yet, but I'm often wrong. :)
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