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Just my .02
Same line of thinking here! With the new Honda 5-years/60k-miles powertrain warranty, there is no need for those marginal, overpriced, deceptively advertised or offered "extended" warranties. Not worth it.
ramida
06 Accord LX SE 5A. Best so far is HondaCity at 20,600 before
TTL etc. JayHonda is 500 miles any but has the lowest $ at 19,828 with $100 p.fee and $25 for tem. plate to get it home.
Air fare is $75 one way and Jay sales said they would pick me up at the airport($25 cab ride). Anything closer????
Help Help Me Rhonda with my Honda!!!!!
Bill B
mud guards,trunk guards and wheel locks are gravy. Please
respond with dealer name, address and phone. Thanks in advance
Bill B
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Any advice? I keep cars till they drop so am considering the warranty for peace of mind and in case an expensive electronic component fails in the next decade. $2100 is too high for me however.
$25500 is right about what I paid for car.
ALso I hate the stick shift, any suggestions about a larger leather 6speed replacement knob?
Honda Extended Warranties: Pricing and Info
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From my review of the posts over the past two months, it seems a target price for the EX V6 Sedan MT w/Navi should be "in the neighborhood" of $26,500, including destination, but not TTL. MSRP= $29,850. Invoice= $26,935. Holdback= 3% of MSRP, or ~$900.
I welcome feedback on this strategy and approach. Is my pricing target too aggressive? I've see some postings with prices in this range.
Thanks to a great board!
I think car_man is temporarily out of commission. I posted a query re: money factor for the above vehicle on 12/13 on the "Lease Questions" board but it doesn't appear that car_man has posted since then. I was wondering if you had any other leads on where I could obtain info on money factors. Have been keeping the dealer at bay pending verification that the mf is .00365 for an 05.
Thanks
I don't have the inside information that he does, but that money factor looks awfully high... It is possible that Honda Finance has ceased offering any sort of support on the '05 models... You might check out the lease price on an '06, instead... It may surprise you, and result in a lower monthly cost, even though the purchase price will be higher...
regards,
kyfdx
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Many questions for you. First, I wanted to buy a car by the 1st. I'm not sure if car_man will be back by then. Can you address my leasing questions in the Honda Lease Question section that a member mentioned above your last post. I would greatly appreciate it as I had a lot of questions about residual cost and so forth.
Other questions: Do holdbacks vary per state or is this a standardize number? I'm interested in negotiating a price on an 06 Honda Accord Sedan EX, even though I want to lease. My strategy is to negotiate the selling price, then once that is good, negotiate a lease price. So far, over emails I've got selling at 20,100 and lease at 282/month. At the table I want to address the selling price then worry about the monthly payments last (I feel confident they'll be lower than 300/month). Is that a good/bad idea? Here is what I came up with when trying to figure Honda's Actual price on the car.
Invoice = 20,928. MSRP = 23,950
Dealer Holdback= $479 (used 2%, not knowing if 3% is standard)
Factor to Dealer Cash = $2,000 (guestimated)
Carry Over Allowances = 5% (guestimate)
Advertising Costs = $300
Floor Plan kickback = $300
My formual is Actual Cost = IP-(DH+FD+AC+FPK)
Actual Cost is 17,849 with adjusting for CA the actual cost is $16,957
From what I have researched, one could look for prices a above the actual price. Are my pricing methods correct? I want to be armed and dangerous at the dealership and I want to buy by the 1st. I also want to lease but I want to haggle a tough deal for the actual cost of the car as well in case I keep it later. Thoughts? Opinions? Your help is very much appreciated as I am a 25 y/o woman who is about to buy her first car ....Even more reason to be armed and dangerous at the dealer!
1) Holdback on Hondas is 3%.
2) The MSRP and invoice you list don't include the destination fee of $550.
3) There is no factory to dealer cash on the '06 models.
4) Carry over, Floor plan kickback, advertising costs? Not sure where you can find out all of these numbers.. I'm positive the dealer has other sources of revenue to defray their actual cost, buy quantifying that can be difficult.
The only numbers I'm sure of... Invoice + destination - holdback = about $20,750...
I'm thinking that is a good deal for an '06 Accord EX sedan.. but, you might page back a couple of months worth of posts to see what people are actually paying.. Does your quoted price of $20,100 include destination? If it does, then you've got a great deal... Even if it doesn't, your deal is still good..
Negotiating a price first, and then knowing the lease variable is definitely the best way to go.. I also feel confident that you will be able to lease for under $300/mo..
regards,
kyfdx
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2) Yes.. there are finance charges on a lease... that is where the money factor comes in.. .00201 is roughly equivalent to 4.8% interest..
3) The price I said was a good deal is before tax is added..
I'm not sure about your lease payment quotes, as I don't know the residual percentages and the base money factors that are offered.. Also, you don't mention the term of the lease or the mileage allowed.. I still feel that you should be able to get under $300/mo., with $1000 or less due at signing... and that is including tax..
regards,
kyfdx
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MSRP 23950
Residual value %: 57%
residual value: 13,651.50
capital cost: 21,113
term: 36 months
money factor: .00201
custmer cash down: 2,000
This is where I get lost...:
Total Add Caps: 640
Adjusted Cap Cost: 20,372.39
Cash Cap Reduction: 1,380.41
total Sales Tx: 818.70
Ttl Annual Fees: 201.00
Ttl Inital Fees: 36.75
Amonth Due at start: 2,000
Total monthly paymentL 274.86
Am I right that out the dor is 21113.00?? Cap Cost throws me off.
The only meaningful way to compare vehicle prices is to examine the bottom line negotiated cost of the VEHICLE plus DESTINATION charge (it's non-negotiable).
You would of course then add your state and local taxes and governmental registration & title fees.
$21,113.. This is what you are paying for the car..
$640 Additional Cap cost: Probably the Honda Financial acquisition fee and some other small fee..
$1380 Cap cost reduction: What is left of the $2000 upfront, after taking out 1st payment, security deposit and annual/initial fees..
$20,372 adjusted cap: $21,113 selling price + $640 additional cap items - $1380 cap cost reduction.
Now... I'm not positive... but, it looks to me like the sales tax has been added into the lease payment, on top of the $20,372 adjusted cap cost.... If the $21,113 capital cost includes the $818 of sales tax.. then, that makes the selling price look pretty darn good.. But, then I only calculate a payment of around $255/mo., not $274/mo..
It all gets pretty confusing.. because, the dealer throws everything into the mix, sometimes including the first payment, then subtracts your $2000, and that is what they figure the lease on...
If the lease is $274/mo. for 36mo./45K miles, and your total due at signing is $2000, and this includes all taxes and fees.. then, it is a pretty good deal.. If you have to pay any fees or taxes out of pocket, in addition to the $2000, then maybe not so good...
regards,
kyfdx
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Best $$$$ on Long Island 20,600 HondaCity
in Mass 19,862 Sliko Honda
in Ohio 19,828 Jay Honda
Where/What dealer gave you that listed price???
What bugs me was the interest rate; my credit score was around 730-740, but the rate was 6.4%. Is that a fair rate?
Thanks, Ben
2021 Toyota Venza Limited Hybrid, 2022 Ram 2500 Laramie 6.4 Hemi, 2007 Mazda MX-5 Miata PRHT
As a solace to you the difference in payment amount on your loan if you got 6% vs the 6.4% is $4 a month at a 60 month term.
Also, is the wheel lock and mudflap b.s. standard? I don't really care what the dealership wants to put on the car, but I'm not going to pay for their "upgrades."
Thanks.
Of course, someone could get their own financing and buy your car for what you owe on it...
regards,
kyfdx
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I live in Bellevue, Washington state. I've got a quote from dealer for Honda Accord as below.
Trim: EX-Leather (with Navigation) - 4 Cylinder & Auto
Price: $ 25,400 + doc fee + tax
Free accessories: Wheel locks
Can some one please tell me if the above quote is Not bad/Ok/Good??
Thanks for your time!
..ez..
$325/month (taxes included)
36 months/12,000 mi/year
$0 down
$1512 due at signing.
I would like to know if I could do better than that (maybe cut down the $1512). I am also unsure about which fees I HAVE to pay (acquisition, tax, whatever else) and which fees are dealer-imposed (maybe doc fees).
Could somebody please give me a rundown on mandatory fees.
Also I would like to know if I could negotiate the price of the car if I am leasing it because most likely I will end up buying the vehicle anyway.
I really appreciate the help.
By what the Honda Lease Info shows the following is at minimum what is involved in the fees you are concerned with... this is what I have found so far. I am researching the Honda Accords as well - however I've decided to purchase.
+Refundable Security Deposit
+Standard Service Charge
+Capitalized Cost Reduction [An initial cash payment on a lease of up to 20%. The more you pay at the start of the lease, the lower the monthly payments. This is a normal requirement for Honda Leasing. It is based on the purchase price, and the vehicle's projected residual value at the end of your lease.] *see if you can get the dealership to work with you on this - might be your only chance to lower the $1512 price you don't like.
+Disposition fees [A flat charge to cover all costs incurred in transporting, preparing and selling a vehicle at the end of the lease or balloon contract term.]*I don't know if this is a set charge since it does list as "fees". Possibly this could be a smaller price if you brought it up with the dealership you're working with.
Also, I found the following link useful. It lists all the definitions for Honda leasing/loan terms and conditions... maybe it'll be helpful to you.
http://www.hondafinancialservices.com/global/glossary.asp#capitalizedcostreducti- -
Best of luck *Kk2482*
Check out partscheap.com, they have honda accessories at a decent price. I thought I sas the mud gaurds for 62.00.
$0 down (except dmv and first month). $299 per month.
I ask him to run the monthly costs with the same scenario for the LX SE. He says there is no special deal. He runs the numbers and it comes out to $294 a month.
So, the "special deal" for a lesser car is $5 more. :P
I love car dealers.
I live in New Brunswick, NJ and am planning to buy a new 2006 Honda Accord LX Sedan Automatic.
Below is a quote I have from one of the dealers. Can anyone help me understand the tricks of getting a good deal? I do not want to put any money down.
Also, would you recommend a the LX Special Edition model over the LX? If yes, why?
--------------------------------------
VEHICLE SELLING PRICE: $18699
--------------------------------------
+ Destination: $550
+ Options: $0.00
- Trade Value: $0.00
--------------------------------------
TOTAL VEHICLE SELLING PRICE: $19249
--------------------------------------
+ Sales Tax: $1154.94
+ Documentation: $138.50
+ Motor Vehicle: $244.00
+ NJ Tire Fee: $7.50
+ Trade Payoff: $0.00
--------------------------------------
TOTAL PRICE: $20793.94
--------------------------------------
Hope this helps.
• 120-watt AM/FM/6 disc in-dash CD changer audio system with 6 speakers
• 16" alloy wheels
• 4-wheel disc brakes
• Electronic Brake Distribution (EBD)
• Illuminated steering wheel-mounted cruise/audio controls
• Carbon-fiber-look interior accents
I'll say go for SE !!