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RI Majestic motors
I bought an EX-L V6 for 24,200.00 + TT&L. The title and license fees were 190.00
Also why is the invoice price for the SE listed as 20088 some places and 20197 elsewhere?
Finally, can I truly expect to see prices continue to drop as we get into late summer and approach the relase of the '08s?
Honda changes prices from time to time throughout the model year, so both numbers could be correct at the time there were listed. What I always do is note the MSRP along with the invoice, it is likely about the same amount different. Then when you pick a car to purchase/lease compare the MSRP on its window sticker with what you found online. An "old stock" car may have a lower MSRP than online source show now so the invoice for that car should be lower than what is shown online as well.
The 08 Accords will be out this fall, if history is any teacher that means a bump up (could be huge if the new design is well received) in sales - and any left over 07s will languish on the lots. Neither Honda nor the dealers want this so are trying to move them now. Another reason could be that 08 allocations are determined in part by 07 sales, so if a dealer wants more of the (he hopes) hot selling 08 Accords he will move all the 07s he can.
If you wait too late it starts to be like a Dutch auction. The prices will start to fall but so does the selection. The last 07 on the lot may be the best deal all model year, but is the wrong color, transmission, and trim level
Getting an Accord for invoice or less - like $750 less - is a smoking bargain and if you are in the market and can get that much below invoice now including destination and dealer fees, then get it. I don't know that it will get THAT much better....
Dennis
What I do know is that I just got an SE AT 4cyl for $3,400 below "sticker"/MSRP. So (from my understanding) at the very least, you are losing like $3,000 by leasing and then buying it at that point. You might as well buy it now, keep it for 2-3 years, and then sell it at a competitive price. It will take a little more effort but it will almost certainly be worth it.
Thanks!
My experience with western WA (and from others who post here) is that prices don't seem to match up well with the rest of the country... many dealers aren't willing to go as low for some reason.
You will have to go in to the dealer if you want to get the best deal... although I think most dealers will match a price.
With the exception of the current $750 incentive, you negotiate the sales and lease price the same way. The lower you deal the less you pay in either case.
The current lease money factor is around 2.1% which is a lot lower than most folks can get for a loan rate. You DO have to pay the $595 lease acquisition fee, which you would not have to pay if your purchased the car.
You can run the numbers and see if lease, then buy makes any sense. Even with the $595 fee, with rates this low on the lease you would probably come out OK if you did the lease then buy. You would pay more for the "used car" rate to buy out the car, but would have paid little interest during the lease. There may be tax benefits or penalties to doing the lease then buy as well - some states make you pay sales tax on the full cap cost of the lease, which would make it not attractive.
Generally if you a sure you want the car long term, you should come out OK if you just buy the car when new. You might could do the lease/buy and depending on the rates it would SAVE you money or it may cost you more.
Dennis
Incentives may get larger than $750, but probably not by a lot (until maybe the 08 Accords are out) so I would go ahead and get a car now if you are in the market on want a good deal on an 07.
As I said before, get a new Accord for $750 or so under invoice including destination and dealer fee is a hot deal and I would not wait around to see if it got a little better.
Dennis
Might be a great deal for someone living in Texas/Arkansas/Lousiana.
Invoice is $27,221 less the $750 incentive = $26,471. Holdback would be $899.85 so the "make nothing" price would be $25,571.15 . The the BiN price is a $571.15 loss, it would appear. There may be something in the fine print about paying a dealer or doc fee, which might raise the price a bit - but it would still be a hot deal.
If I wanted it, I would buy it for this price. You "BiN" and give them a deposit the car should be yours and will "be there" when you go to pick it up. Depending on how far away you are, I would probably get quotes on getting it shipped to you. It is a new car, never titled, so it should be fine. Even open carrier shipping may cost you close to what the flight would. You can also try round trip flights (staying over a weekend, etc) to try to get a better price. When I flew down to get my BMW I purchased a round trip and scheduled both flights on days to get the cheapest fare (knowing I was tossing the return tickets anyway). Sometimes you can save by going through the city to someplace else (fly to Dallas through Shreveport, for example) and just get off in Shreveport.
I can give you contact info for the car hauler I have used in the past. Cheap, but they may take a while to get around to picking something up and getting around to delivering it.
Dennis
I'm new to the forums and am considering an 07 Accord SE - 4dr and have so far gathered from what I've read from people's experience that the best approach would be to email 10-15 dealers within a radius and get competing quotes. Can someone point me to where I can find email contact info for sales/fleet managers for dealers in my vicinity? (Bay Area)
Someone here may know which Bay Area dealers do the best deals and speak up - saving you the trouble
Dennis
A couple people asked you for more details, but you never reply. :confuse:
Though that is good for an SE, I think others are getting a better discount percentage, either on the SE or on other trims- depends what region you are in. I have seen 19500 OTD on an SE, as well as 19700. And these were back in November, before the 750 incentive.
Nevertheless, you got a great price. Where are you located?
a) a dealer doc or prep fee was charged in addition to the $18,500 posted
b) a trade-in was in the picture
c) it is not true
The best I know of from a dealer including the dest and dealer fees was $19,060. Without adding a dealer fee or profiting from the trade in, I would think $18,500 would be a money losing price (take invoice - $750 incentive - all of holdback) and you get $18,779. So if there is a dealer willing to sell everyone that car for $18,500 they either are getting more incentive/bonus than every other dealer or they will soon be out of business.
Dennis
Thanks,
Steve
I posted this so that people have an idea of how much they should pay in New England area for a 07 Accord SE AT. Please post what you paid for your 2007 Accord SE AT by replying to my message, including where you bought the car.
That is a little more like it. Normally folks should post the price for the car with dest and any dealer fees - since the other number (TTL) vary and are of no importance to "what is a good price" discussion as is the "OTD" price someone paid.
Dennis
I know I will probably end up paying the difference in sales tax in WA state - but I am more curious if ppl have experience w/ buying cars out of state - what insurance/registration implications this has (I have insurance/license in WA state) - and especially how the lemon law might apply to cars purchased out of state.
Thanks.
Accord VP I4 AT: 16000
Accord LX I4 AT: 17700
Accord SE I4 AT: 18500
Accord EX I4 AT: 20000
These prices are the (almost) lowest prices quoted from New England area dealers (especially in Boston area). The prices in other parts of the country maybe higher.
Invoice on a VP with AT should be $18,208 (car and destination). I assuming you paid $17,495 + $595 destination fee or was your price including the destination fee? The invoice price you show does not reflect the destination - so who knows?
Given the current $750 dealer incentive, you probably could can got the same car for $17,458 or so including destination and dealer fees, if any. If your price included dest and dealer fees, then you got a great deal - if not then you did good, but left some money on the table.
Dennis
But, this is "Prices Paid & Buying Experience", and I think the pleasant experience was worth it. The sales lady was wonderful. The dealer advertised $140 less than invoice and then reduced their doc fee after little negotiation. Even the finance manager was easy to work with, he didn't pressure me about extended warranties, etc. and didn't even try to talk me out of going through my credit union. I was assured that if I ever needed any warranty work done on the car, since I was buying locally there would be a loaner car available.
Thanks for your advice everyone. Like my father says, every negotiation should be a "Win-Win" scenario, good for both sides. I think a dealer profit of $410 ($1030 if you include the holdback) is fair on a $20,700 sticker, and that I got a good price. I felt bad that the salesperson would only get a "mini" deal, until she told me that Accords have "spins" on them for the salespeople; every time they sell one they get between $150 and $500 extra, as cash. I hope she got the $500
If you were going to trade the factory speakers for nicer ones anyway, then it is actually a plus.
I don't like the black door handles except on silver VPs.
The black door handles look like nice accents in that case.
If I were going to get a VP, I would get silver.
I'm used to automatic door locks and no Accord has them. Seems like such a needless hassle to manually lock doors in a new car in 2007 and the door locks switches are an awkward reach on top of that.
I live in between Dayton and Cincinnati, Ohio. I was offered via email an OTD price on a 2007 Accord Sedan Automatic EX-L 4cyl at $24,323. This includes my sales tax of 6.5%. I'm awaiting an itemized list of the charges so I can see exactly what I'm being charged. Rough estimate is that I'm getting charged $22,600 for the car and the rest are taxes, title, admin fees, etc. Remember though, I haven't haggeled with the dealer yet...so my goal was to get another $300-$500 off the $22,600...so your price seems pretty reasonable...IMO of course.
It appears that someone bought the car off eBay. I was thinking of contacting them in the near future to see if they would sell me one as well for that price. They would get a sell from someone they normally wouldn't since I live in Ohio. And if the rumor is true that Honda dealers are discounting the Honda's in order to get as many sold as possible to get a larger allotment of 08 Accords, then they definitely might bite. I plan on seeing if my local dealership will come close to that price first though so I don't have to make an unneccsary trip.
The dealer (Swope) in Louisville would probably do it for $22,541 (invoice with dest - incentive including dealer fee), I will e-mail them and ask. Not too far from you, if your OH dealers do not pan out.
Dennis
No rear stabilizer bar
skinnier tires (195 VS 205)
non-variable speed intermittent wipers
non-auto off lights
manual side mirrors (black, not body colored)
black door handles (not body colored)
black window trim (not chrome)
2 fewer cup holders
non-illuminated vanity mirrors
single 12v outlet (vs 2 on all other models)
no "ski" pass-through in read seat
2 speaker stereo (vs 6 in all other models)
That is a lot of stuff, but $1,357 is a lot of money.
The big thing to me is that while you do without all that stuff, your Accord will always be a "cheaped" out model and will be worth less money. If you check the used car values, an 05 VP is worth $1,204 less trade in that a similar LX, $1,312 private party, and $1,400 retail. This using Edmunds numbers, other used price guides have a wider difference.
So you lose what you saved and maybe more going cheap - and do without. To me, I would rather pay a bit more and have the goodies, and have a car that will always be worth more and be easier to sell/trade.
The real sweet spot now is the SE - just $631 more than the LX and you get 16" alloys, rear disc brakes, EBD, and steering wheel audio controls. Well worth the extra money, and the SE should always sell/trade for a good bit more down the road.
Dennis
You are correct that the SE is the sweet spot but if someone can't make it happen financially, then you have to look at other options.
If such a small difference in price means someone "just can't afford" the extras then they really should not be buying either car - they should be getting something cheap used or keeping what they have until they straighten out their finances. What if they have to move, lose their job, or need a new central A/C in their house? They will have to sell the car since they are stretched to their limit?
Dennis
Normally, as a percentage of MSRP, a loaded up car loses more than a stripped car. But this is mostly the case with OPTIONED cards - like a Toyota. With Honda it is packages, which don't tend to lose as much value. You are also talking about a "stripper" car - manual + black mirrors, 2 speaker radio, etc, etc. It is just not as desirable to most folks on the used market, so would be harder to sell without discounting. You can get most any Accord as a manual transmission too (which I prefer to drive), but they are not as easy to sell or trade used since so few folks will want it (or can even drive it).
Dennis
On the silver and white I actually prefer the black mirrors. I even like the VP hubcaps better than the LX because you can't see the steel wheels underneath.
I chose my LX over an SE mainly because I really don't like 6-disc changers (personal preference, I know); my wife has one in her Mustang and I don't care for it at all. Although I'd rather have alloys than hubcaps, I didn't like the SE alloys nearly as much as some of the other alloys, so I might get a set off of ebay later when it comes time for new tires. Also, rear drum brakes are, in my experience, more reliable (front pads will have to be changed a few times before the rear drums) and don't have much if any impact on brake feel or stopping distance.
If you plan on selling in 2 years or less, then your may lose most of the money savings in reduced resale.
The big of a price difference will not follow the car down the road. Each year the price difference will get smaller and smaller. If you keep the car a more typical length of time, it will be only a few hundred dollars less, minus whatever you saved in interest and maybe lower insurance premiums over the years.
Most people shopping for 5 year old used cars are not going to notice rear stabilizer bars, slightly different tires (which may have been already replaced by the time the car is resold) etc... You can easily install rear speakers get a set of 4 nicer speakers.
The car will be a used Accord with all the deal-breaker critical features most people want such as automatic transmission, cruise, power windows and locks, air conditioning and a radio with CD player. It will also have ABS and side curtain airbags that some 2007 cars still do not have standard. It will not be a difficult to resell car like a stickshift sedan without A/C or something.
Dennis
The previous posts from this board have been very helpful.