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I could probably get them lower if I offered $750 or so below invoice, but they certainly were not offering it.
I think I too would have not wanted to waste any time with you if I had been the salesman. Sometimes you can get a bare bones, dealer makes nothing deal without a trade - but dealers do need to make money as do the sales folks. If there is a $750 dealer incentive you should be able to get the car, with dealer free for about $750 under invoice - maybe a little more. If you want to get a lower price the dealer will have to dip into their holdback, which is something they seldom want to do. Your $1,100 quote would be $350 into the $667 holdback (assuming an I4 SE auto sedan). So the dealer would lost money at sale time and would only net $317 once they got the hold back money from Honda. And you wanted them to match or better that price? Like I said, I would have not wanted to spend much time working with you if I were on the sales staff.
I call it "unreasonable pricing" - someone who just plucks a number out of the air and demands the dealer to match or beat it. Sure, a FEW times someone seems to get some deal that is too good to be true - but the majority of the time deals are made based on real world numbers - invoice less incentives and maybe a little of the hold back if they are desperate to move the car.
If you really do have a quote for $1,100 under invoice on a new Honda including destination and dealer fees than I would not waste any more time calling or e-mailing dealers, I would be at that dealership signing the paperwork.
Dennis
$750 Cash to Dealer start: 02/06/2007 end: 02/28/2007
Restrictions Dealer Cash is not combinable with "2007 4-cyl Sedan Special AHFC Lease/Purchase Plan" nor with "2007 Accord 4-cyl Coupe and 6-cyl (Coupe/Sedan) Special AHFC Lease/Purchase Plan".
Comments Dealer participation may vary.
The leases are the same and now we know the money is the same - so you should get about the same deals as you saw last month.
Dennis
Dealership:
Price Paid:
% financing:
Destination:
I leave in North NJ, around parsippany. I am looking for Honda Accord Ex without Leather Seat option. Someone can help me out how much I should get this car off the road.After paying Tax, Registration and other fees.
Thank you.
I guess it is OK for others on this board to get good prices, but I am wasting the dealers time. Interesting. :confuse:
I don't buy the "we are not making any money story". Future allocations of the 2008 Accord (sure to be a cash cow) are partially based on sales of the 2007. If I were a dealer I would sell all that I could, and would not insult a customer by saying they are losing money at $500 under invoice, when they are making $250 plus the holdback.
Yes I have a legit offer of $1,100 under invoice (as have others on this board), but they are farther away ( I told the dealer this - and that I would pay a little more to get a car closer). BTW Vern Eide is 220 miles away as it is, so it is a pain even to go to the nearer dealer.
I guess it is OK for others on this board to get good prices, but I am wasting the dealers time. Interesting. :confuse:
I don't buy the "we are not making any money story". Future allocations of the 2008 Accord (sure to be a cash cow) are partially based on sales of the 2007. If I were a dealer I would sell all that I could, and would not insult a customer by saying they are losing money at $500 under invoice, when they are making $250 plus the holdback.
Yes I have a legit offer of $1,100 under invoice (as have others on this board), but they are farther away ( I told the dealer this - and that I would pay a little more to get a car closer). BTW Vern Eide is 220 miles away as it is, so it is a pain even to go to the nearer dealer.
First of all I purchased from Joyce Honda in Denville, and I got a good price and good experience.
It may be a bit difficult to tell, since a new promotion started on Feb 5th. Prior to that, people were getting maybe $1,000 under invoice. For instance, like i told msolo, i got an SE (invoice 19,493) for 18,200 plus 200 doc fee. your EX (I assume 4-cyl) is $20,324 invoice.
Edmunds says that the $750 cash back to the dealer is on until 2/28. So I'd suggest going to automobiles.honda.com, finding all the dealers in your area, and start asking for their "no-haggle, internet price" or something. Being desi, I imagine you'll try to haggle from there lol... I'd say if you could get $19,000 or $19,100 (plus dest, doc fee, etc), you've done amazingly.
I know Out The Door was your question... Lets say you get it $19,200 plus dest and doc fee (180)... add tax (7%) and youre at about $21,300. DMV fees (4 years registration, title, plates) will be paid later, and it'll prolly be $254. So expect a little shy of $22,000.
A bit of strategy idea: call a dealer, get a price and who gave it to you. Call like 8 around you and get the lowest price. Then try to get dealers to beat that price. Make sure you note their doc fee's.
I'm done....
lol.... so much for their "fact sheet". I wonder if both versions of the SE (I4 and V6) are the same in this regard.
msrp: $27,050
invoice: $24,368
minus incentives: $24,368 - $750 = $23,618
true dealer cost: $23,618 - 3% of MSRP = $22,806
2% dealer profit: $22,806 + 2% of $22,806 = $23,262
plus destination: $23,262 + $550 = $23,812
plus tag/title: $23,813 + $300 = $24,112
plus 6.5% tax: $24,112 + 6.5% of 24,112 = $25,679
... which is approximately equal to $25,700 out-the-door. Does anyone think I'll have success with this number?
Not now.
Maybe, but I would doubt it, in six-eight months when the newly designed Hondas start to roll out.
saleem, is your SE a V6 or I4?
I got my EX-L 4 cyl $800 under invoice (yahoo.com invoice) with no trade and it includes dealer doc fees. At first none of the local dealers would do that. All claimed the number is ridiculous. After I had got the price from a dealer 80 miles away, all my local dealers became willing to take that price too. And I've seen people on this board got their Accords lower than that.
As for w_byrnes, I too think it's realistic, but maybe lowballed. Call a lot of internet managers/managers to get their no-haggle price, then get other to match or beat each iteration. I first found my best price to be $18,500, then found an 18400, then found one that would beat it to 18,300; finally i got an 18200. Later I got another one to match 18200 "in case the other deal falls through". That said, there's a tradeoff in how much your time is worth, and at some point you should just be happy and buy the damn car haha
I think I can bring em down further before making a deal.
What do you think ?
- Lease Price: 25093
- Dealer Doc Fee: 399
- Honda Finance Fee: 595
The sales person hasn't mentioned the "destination fee" which I imagine they might try to tack on to get another $600 bucks out of me. If the 25093 price includes the destination fee then we are looking at a "lease sales" price of 24998?
I tried to look back through the posts and it appears to be a pretty good number but would love any feedback others might have.
(Also as much as they want me to have the discussion, I refuse to discuss monthly payments -- since that is "just math" after we figure out what I am paying them for their car...
Thanks,
Brian
If I were to do that, would I be "freed" of the financing fees at that point since I am paying them in advance? Or would I just take my monthly payment and multiple it by 35 months if I am doing a 3 year lease??
Thanks,
Brian
Personally, if I liked how the dealer was treating me (like a person and not just a dollar sign), I'd take the deal.
If this was a loan that you took out, what you are doing is prepaying the loan. By prepaying any loan, you would pay only the remaining balance of the loan. When you sign a loan or a lease you need to read the contract language carefully to understand what you are, and what you aren't allowed to do. For instance, why I bought my 2004 Ford, they had a 1500 off if you got the loan with them. It had a minimum length before prepayment of 3 months. I got the minimum loan allowable, got the 1500 off, paid 3 months worth of payments and interest, and then paid it off (effectively pocketing almost all of the discount).
With a prepay, you would not pay the remaining balance of the loan, plus all of the remaining interest payments as well......you only pay off the remaining loan balance.
If you must lease, but you have the cash, then you should put the money in the bank and pocket the interest. I believe there is also a risk of prepaying dealing with if the car is in a wreck. I'm not the expert here, but I think you might loose any extra payments or principal you may have put down. It believe it is this reason that many caution about putting more than is necessary as a down payment. Any excessive down payment is at risk of loosing if car is totalled.
As the lease is a contract (not a simple interest loan) you do not save finance charges by paying it early. Also, you may want to check with American Honda Finance before doing that. There may be a clause in the contract that staes you must turn in the vehicle within 30 days of making your last payment. You may want to pay all but the last one.
i think i've gone thru this before but my
2007 Accord SE AT I4 bought in Jan 07
18200 - car
595 destination
180 doc fee
1315 7% tax
7.50 tire tax
I think that's it. I got em to throw in a leather steering wheel cover, uninstalled (cuz it takes an hour labor to install or something)
then later (cuz were in NJ) the DMV charges for 4 years registration, title, plates etc came out to $254.
IDK where in NJ you called. I called a LOT of dealers all across NJ, just so i could get their best prices. Open Road had a good price but they're crooks there -- I was actually ready to buy my car on Jan 2 but they gave huge hassles and attitude and lost my sale. They were at like 18500.
The important dealers (the ones who gave me good prices) are below. To think of this in terms of other trims, the INVOICE price (not sticker) is $19,482. All prices are JUST car, no destination or doc fee.
--DCH Brunswick - spoke with Bryanna, price 18400
--Rt 22 said they'd do $500 off a written quote but later said UP to $500 off... later wouldnt do that, would only give 18700 (spoke with Chet or someone)
--Honda Universe (Dan) said 18600... later John called and said they'd match Joyce @ 18200.
--Metro Honda in Jersey City sounded really shady and no one wanted to tell me how much their doc fee was, and just wanted to know "if i was still coming in to buy the car". they said theyd do $500 off a written quote.
--Planet Honda (Chigbo) said he'd beat DCH Brunswick and would do 18300. w/ a $300 doc fee.
--Finally, Joyce Honda (Alan) said theyd do 18200. Joe (the manager) handled the deal for me. Very professional, very courtieous and quick. Matt was another rep there who knew his stuff. They didnt even ask for any paint sealant or garbage like that. I'd say it's worth going w/ Joyce even if they're a little higher, cuz they're not theives like some of the other dealerships....
I really hope that lays EVERYTHING out... I wont be typing this all out anymore, since this is ALL ive got... ill just link to this post in the future. Enjoy, happy hunting!
You give me your 36 payments up front, I'll put it in the bank and setup the computer to make your payments for you over the course of the next 3 years. Won't even charge you anything extra to do it, like a processing fee. I keep the interest earned.
the last thing (i know you dais u won't comment more on the topic) but is u can... i have a chance to finace through my credit union, which i can do between a 4.99-5.49% financing but the only issue is that the want to finace at least 15000. in may case i want to put 8500 down which will give a decent wuite of 355-365 per 36 mon, now the only issue is that i don't thinkk they will want to finance only 12000. although i am planning to persude them to do so, or try to have the dealer beleiving that i will get that percentage regardless my down payment. because they don't have any problem if i pay it off the following day. but they want to have at least 15000 which will increment my quotes and interests. the only convinience that i have with my credit union, is that it will be deducted from my check. bottom line did u get a good financing deal, or u had your own bank, or what not... thanks
I had my own financing thru an FCU, 5.25%. Is there a pre-pay penalty for your loan? Take $15,000 financing like they want; for the first payment, send $3000. If there is no penalty, you'll never pay the interest on that $3000.
I can't help you with your camry/accord decision. While I found the camry to have a much softer ride, the accord drove better, looked better, had equally good resale value, and i just liked it better. the interior of the camry is disgusting, like someone spilt milk across everything. and it was more expensive than a similarly equipped accord.
it seems youre in north jersey, in which case i'd say go to joyce or someone around there. maybe rt 22 honda in clifton can give you a good price.
please dont hesitate if you have any more questions
You can reduce your finance charges in this manner, but you can't eliminate them. The only way to eliminate finance charges is to pay cash for the car.
Generally, a one-pay lease works this way. They figure it as a traditional lease, but re-calculate it with a lower money factor, to account for the money being paid upfront. Then the new lower payment is multiplied by the lease term, and you pay that amount upfront.
The reason that finance charges aren't eliminated? When you pre-pay a lease, you are only paying the car down to the residual amount. So, if the residual is $12K, you are basically borrowing that amount of money over the term of the lease, even though you made the payments upfront.
You definitely don't want to do a traditional lease, then try to save money by making the payments early... That won't save you anything at all.
regards,
kyfdx
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2007 Honda Accord SE V-6
$20414 - car w/destination
$599 - doc fees :surprise:
$30 - misc fees
$1473 - tax
$22516 - total
tag/title extra
Thanks in advance...
About this 399 doc fee dealers charge around here, it seems like everybody (not just Honda) charges it, well, at least I know the Toyota people do. Maybe you should try and see if you can ask them to take it off for you, so far I haven't heard any success stories though...
george201, I actually ended up going with AutoPark Honda in Cary (they are actually owned by Leith but have different management). Crown was not willing to give me as much for my trade-in and I was able to 'work' all three dealerships against each other. The "financial" aspects of the deal were all done via email and it was pretty painless overall and I feel like I got a pretty good deal. They were also able to get me the "best" money factor even though my credit score was about 25 points below (probably because I have been paying them over $500.00 a month for the last 4.5 years on my previous cars). They didn't budge on the "doc" fees but I was able to get them to lower the price of the car by an additional $150 by leveraging another quote.
For any Triangle folks looking at these posts, best you can do is to quote the dealerships against each other -- and get at least one quote from a dealership out of town (I got one from the High Point dealer) just as leverage. I was pretty sure I wasn't going to go with them (and only spent 10 minutes on the phone with the guy) as I wanted to deal locally, but I think it helped me save about $300-500 on the deal to be able to "threaten" them to buy out of town.
As with many things in life, patience is a virtue -- it took me 5 days (and probably 6 hours) to get everything where I felt comfortable...
gluck with the purchase!
Thanks