Honda On Grand. They are located in Elmhurst, Illinois. I obtained several e-quotes and they were the lowest. I went in and asked for the Internet sales rep. who sent me the quote. It's the 2nd car we have purchased from them ('06 Pilot) and we are very happy with the dealership.
One of our members purchased a car for 19500, while the other table of customers paid 21500 for the same car, and the car they got is the floor demo, while our member got a totally brand new car. I would consider 2000 on a 20k car is ripoff, but as you said, since buyers agree with the price, yeah, they pay for it, and should not complain.
There are good salespersons for sure, but there are bad ones, too. One of our members used email and got confirmation for an accord EX with selling price, OTD and everything, while they go to the dealer, the internet sales manager said he made a "mistake" by thinking that is a lower trim since the manager just came back from a trip so his brain is not working well. Too bad the manager didn't notice our member saw him the day before.
Since purchasing cars involves two parties, there is nothing called "realistic" number, there is only "agreed price". If customer would overpay for a car, there is no way salesperson would tell the customer to pay less. On the other hand, if a dealer would make less for a certain deal to meet their quota, they would still do it and should treat customers like usual.
Another story is one of our members has a tradein and while dealer#1 told him they could do blah blah blah, and tell our member that you would never ever find a better price. While the other dealer gave 2000 more for tradein with same new car price.
I agreed that you should do your homework before going to dealer because dealers are trained to make the most money on you. It is why we started a site to let car shoppers submit the car price into our car price database. I also agree that car shoppers should treat car salesperson with honesty and respect, but before that, car salesperson should do the same first.
I have a question for IL car deal experts. I am living in IN and will be purchasing a car in IL. Do i still have to pay the Cook County $15 fee even though I am not from IL. Also, on my previous vehicle, the drive off tag costs $10, and now I am quoted $30. Is it true that there's a $20 increase.
I doubt you'll find many worried about the $25 details when they're negotiating on a 20K vehicle. Negotiate on an OTD out the door price with the dealers, and let those details fall out wherever they want them.
I don't know about a drive off tag or the cook county fee. But you are talking about $15-20 dollars on a car that costs $21k or more? Seems a bit silly to me. Ask at the dealership and if they are deal breakers I'm sure they will be more than happy to waive those fees for you.
I just want to make sure on the cook county fee? This is the first time I've heard of them. For the seven day permit I have proof that it costs $10 as I purchased them for my CRV.
Negotiate on an OTD out the door price with the dealers, and let those details fall out wherever they want them.
That's fine if that's all that matters to you, but you still have to be informed on how things like sales tax is calculated. I once traded in a leased Honda Odyssey that I was first purchasing as the trade in amount was more than the lease buyout amount. The dealer forgot to charge sales tax. I even questioned him on it before driving away. They called a few days later and refused to honor the negotiated OTD price as none of that was written in the purchase contract. The paper work you sign lists selling price, dealer fees, different state fees that all add up to an OTD price.
There's also a clause in there that stipulates if the dealer miscalculates sales tax, they have the legal right to come after you. So legally they had me, but when I offered to return their "new" Accord, now with a few hundred miles, they relented.
Alright guys I just submitted my $500 refundable deposit and collecting my Silver 09 Accord on Monday. no financing involved, also no trade in involved.
Sale price: $27,561.26 Doc fee: $150 Tax (7% IN): $1,939.78 IL 7 day permit: $10 Total : $29,661.04
This is the best deal that I can get so far and I'm happy with it. I know that this deal is ~$100 lower than the earlier quote, but the earlier quote "was a mistake" according to the earlier dealership, claiming that they forgot to add the destination fee. Boooo at bait and switch
I don't think there will be any change from rebate/ incentive for the 09. For the 08, probably it will still be a $500 rebate. Even for the 08 CRV, and civic, there is still no cash rebate available.
I hope they more incentives for the 08's. I was quoted 23,500 + TTL for the 08 EX-L Couple (auto tranny). maybe I'll just try to negotiate bluetooth and tint and just snag that one.
I went into the dealership and was offered the following deal:
2008 Accord LX-P Lease $1000 down and $450 per month for 48 months
I'm trading in a 2002 BMW with 71000 miles which I'm upside down on by about $2500-3000. They're going to take the BMW and put me in a lease with an option to buy. I'm not familiar with this "lease option to buy" stuff so I don't know if this is a good deal or not. I'm looking to get something reliable and with reasonable maintenance cost, but I don't want to end up being upside down again with this car.
Please tell me what you think? Are there question you can suggest that I ask? When I got home I realized that I was so focused on the down payment and the monthly payment, that I never found out what the actual total cost of the car will be. I assume this would be important especially if I decide to buy it at the end of the lease.
I did get the feeling that I could negotiate something better, but just wanted to get some input.
I guess the details would help here. on its face, that seems kind of high for an lx-p to me, but it really depends on the terms (I know two people who have luxury cars...benz and lexus, and they both pay less than that after applying your approximate net down payment [negative equity + down payment] ). you can plug in the numbers for yourself here:
I was wondering if this is a good deal. The certified Accord EX-L has 36K miles and the dealer is offering it for $16.5K, not including taxes. It seems like because of the economy, cars are selling far below the book prices and so I don't feel like this is necessarily a steal. A few months ago maybe it was a steal, but I'm not so sure it is today. For those recent buyers, what are the prices some of you are buying '06 4dr EX-Ls? Also, what are some fees, tax policies/ambiguity, etc that I should be aware of before I agree to a deal? Thanks! All of your posts are extremely helpful.
I've leased one vehicle in my lifetime and compared to simply buying a vehicle it is so much more complex trying to negotiate and figure out what a good deal is. Every lease has an option to buy at lease end, so they didn't give you anything special.
Your lease payments total $21600 which is more than Edmunds TMV for that vehicle for an out right purchase. How did you expect not to be upside down on a new vehicle when you were already upside down on your trade by 2500-3000? That just doesn't disappear. Unless you put up a sizeable down payment in either cash or a trade with positive equity you will always be upside down to start.
Maybe others have a different opinion than myself, but I think your salesman "clubbed you like a baby seal".
to look at it another way, if you were to by it outright with the same factors:
sale price: 16.5 down payment: 1k amount owed on prior car: 3k loan term: 48 months loan rate: 8.09 (edmunds defaulted to this...you can likely do better) estimated tax and title: 1073+248
payment: $484. if the loan rate is lowered to 3.9, the payment goes to $439. it's like the salesman gave you a lease price with no residual.
I'm sorry, I read posts 2279 and 2281 as from the same person. I guess that will teach me to post as soon as I wake up. those numbers I posted are wrong (please delete if possible?). hooplvr: if you post the specifics of the deal, I'm sure some of the people who are knowledgeable about the subject will chime in.
2008 Accord LX-P Lease $1000 down and $450 per month for 48 months
I'm trading in a 2002 BMW with 71000 miles which I'm upside down on by about $2500-3000. .....
You would be better off paying off your upside down amount, then go into a lease with $0 down. My local dealer is offering $0 down and $299/mo for the LX, so the LX-P shouldn't be much higher. I got my 08 EX-L V6 with $0 down and $359/mo. Good luck to you.
I've leased one vehicle in my lifetime and compared to simply buying a vehicle it is so much more complex trying to negotiate and figure out what a good deal is.
Leases are not more complex then a purchase. On a purchase you have two factors, price and interest rate. On a lease you have three factors, purchase price, interest rate, and residual. The same thing that makes a purchase a good deal is what makes a lease a good deal, what is the selling price of a car?
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Could you post the specifics of yourr lease; M.F., msrp, cap costs, costs added into the lease and the terms of your lease. BTW, does dealer add the extra costs (dealers fes, etc) back into the lease when there is a $0.00 down lease, which will then be added to the cap costs over the lease term.
I am in the market for the same car and my credit is 720 score. I am using leasing guide.com to help with the payment calculation
Leases are not more complex then a purchase. On a purchase you have two factors, price and interest rate. On a lease you have three factors, purchase price, interest rate, and residual. The same thing that makes a purchase a good deal is what makes a lease a good deal, what is the selling price of a car?
What about residual value, miles allowed per year, drop off charges (if any), excessive wear and tear charges (always subjective), acquisition fee, etc, etc, etc. And how many people know that interest rate = money factor?
Could you post the specifics of your lease; M.F., msrp, cap costs, costs added into the lease and the terms of your lease. BTW, does dealer add the extra costs (dealers fes, etc) back into the lease when there is a $0.00 down lease, which will then be added to the cap costs over the lease term.
I'll try from memory. Money factor was.00159; MSRP $28,730; cap cost $26,101, right at invoice; costs added into lease $444 for dmv, sales tax, and dealer handling fee; 36 mo/15k miles yr. This was for an 08 model in August.
Mike it is very true. My customer did indeed finance $22500.00 OTD at 3.9%. What I did not list was his down payment which adjusted his financeable OTD to $22500.00.
I feel I have made a good point about just posting an OTD without posting all of the information.
I've been reading the forums a lot, and I gotta say that there is a lot of useful information in here.
Just wanted to post the price I paid on my car.
2009 Honda Accord Coupe EX-L V6 6M w/o Navi - $26,239 with destination (Not including taxes, title, fees, w/e else)
In your opinion, is this a good deal? Also, the dealer doesn't have the color I want, so I am forced to wait. Does anyone have stories about waiting for their car? How long it typically takes to get a car like this? Any information would be appreciated.
inet123, In New Jersey for a 2009 Honda Accord EX-L or EX-L V6, I would go ahead and say with confidence $500 dollars under the Invoice price (including destination) listed here at Edmunds. I also believe that you can probably push for more if you do not have a Trade In. Bottom-line is this, the dealer has a certain amount of money that he absolutely needs to get on a car, and even if he sells a car for 100 dollars more than that amount, its already a good deal so there is no harm in trying. If the dealer says he can't do it, walk away, go to another dealer and offer 100 bucks more to the new guy. Thankfully in Jersey we have a bunch of Honda dealers to try this with.
I have a price ~ $25k for an '08 Accord Sedan EX-L w/nav I4 auto plus tax, ttl. No trade, cash deal.
Is this a good price? I'm in NJ and plan on keeping the car a long time (10yr+) so depreciation 08 vs 09 is not a concern. Sites like carsdirect are not currently showing '09 target prices and the '08 prices are gone for NJ.
I've been going back and forth on this with a Florida dealer. What is your opinion?
'09 LX-P $22027 for the base LX-P but it has mud guards, trunk tray, wheel locks and pinstripe (none of which I want) so together, they want $22195 36 months/12K miles gross cap $22814 cap cost redux $1807 adj cap cost $21007 MF=.0018 Residual=$14400 $249/mo+tax $2899 at start includes 1st, cap reduction, and $827 in "upfront charges" which I still don't fully understand. They told me the acquisition fee is $595 so I think they are just "stealing" a little profit. The $2899 probably should be $2667. Maybe the difference is the reduced dealer fee---see below.
In an earlier email, I was told the dealer fee is $399.50. In his latest email, he said I literally only pay $2899 to start the lease, though.
The Honda website says the current program for the LX, which my guy said applies to other models, too, specifically shows that the cap cost reduction is $2095. I asked why theirs was lower and was told it was the LX-P not the LX, which sounds fishy. Your thoughts?
One more thing, I received an email from another dealer today who only said that Honda just lowered the MF to "reflect 1.9% APR" which would be .00079. He didn't provide any other info and I am still waiting for clarification.
So you work your best deal on the price of the car (not the OTD) and next you are looking at all the other fees including the "dealer fee." Is that a fixed administrative charge on all their cars or is that a matter of negotiation, too? I know some will say OTD is all that matters so who cares but I'm still curious.
Yes it is carved in stone, but dealers who spring it on the buyer not until the F&I office are pretty low. If that happens to you tell them to reduce the price by that amount as it was never disclosed to you. Here in Florida the typical dealer fee is $499 to $699 and I've walked out of deals when they surprise me with it.
Comments
There are good salespersons for sure, but there are bad ones, too. One of our members used email and got confirmation for an accord EX with selling price, OTD and everything, while they go to the dealer, the internet sales manager said he made a "mistake" by thinking that is a lower trim since the manager just came back from a trip so his brain is not working well. Too bad the manager didn't notice our member saw him the day before.
Since purchasing cars involves two parties, there is nothing called "realistic" number, there is only "agreed price". If customer would overpay for a car, there is no way salesperson would tell the customer to pay less. On the other hand, if a dealer would make less for a certain deal to meet their quota, they would still do it and should treat customers like usual.
Another story is one of our members has a tradein and while dealer#1 told him they could do blah blah blah, and tell our member that you would never ever find a better price. While the other dealer gave 2000 more for tradein with same new car price.
I agreed that you should do your homework before going to dealer because dealers are trained to make the most money on you. It is why we started a site to let car shoppers submit the car price into our car price database. I also agree that car shoppers should treat car salesperson with honesty and respect, but before that, car salesperson should do the same first.
Thanks for answering my questions in advance.
Thanks for the reply guys
That's fine if that's all that matters to you, but you still have to be informed on how things like sales tax is calculated. I once traded in a leased Honda Odyssey that I was first purchasing as the trade in amount was more than the lease buyout amount. The dealer forgot to charge sales tax. I even questioned him on it before driving away. They called a few days later and refused to honor the negotiated OTD price as none of that was written in the purchase contract. The paper work you sign lists selling price, dealer fees, different state fees that all add up to an OTD price.
There's also a clause in there that stipulates if the dealer miscalculates sales tax, they have the legal right to come after you. So legally they had me, but when I offered to return their "new" Accord, now with a few hundred miles, they relented.
Sale price: $27,561.26
Doc fee: $150
Tax (7% IN): $1,939.78
IL 7 day permit: $10
Total : $29,661.04
This is the best deal that I can get so far and I'm happy with it. I know that this deal is ~$100 lower than the earlier quote, but the earlier quote "was a mistake" according to the earlier dealership, claiming that they forgot to add the destination fee. Boooo at bait and switch
2008 Accord LX-P Lease $1000 down and $450 per month for 48 months
I'm trading in a 2002 BMW with 71000 miles which I'm upside down on by about $2500-3000. They're going to take the BMW and put me in a lease with an option to buy. I'm not familiar with this "lease option to buy" stuff so I don't know if this is a good deal or not. I'm looking to get something reliable and with reasonable maintenance cost, but I don't want to end up being upside down again with this car.
Please tell me what you think? Are there question you can suggest that I ask? When I got home I realized that I was so focused on the down payment and the monthly payment, that I never found out what the actual total cost of the car will be. I assume this would be important especially if I decide to buy it at the end of the lease.
I did get the feeling that I could negotiate something better, but just wanted to get some input.
Thanks in advance for your help!
lease calculator
I just started looking around myself, so I hope someone can chime in if I am off base.
Your lease payments total $21600 which is more than Edmunds TMV for that vehicle for an out right purchase. How did you expect not to be upside down on a new vehicle when you were already upside down on your trade by 2500-3000? That just doesn't disappear. Unless you put up a sizeable down payment in either cash or a trade with positive equity you will always be upside down to start.
Maybe others have a different opinion than myself, but I think your salesman "clubbed you like a baby seal".
sale price: 16.5
down payment: 1k
amount owed on prior car: 3k
loan term: 48 months
loan rate: 8.09 (edmunds defaulted to this...you can likely do better)
estimated tax and title: 1073+248
payment: $484. if the loan rate is lowered to 3.9, the payment goes to $439. it's like the salesman gave you a lease price with no residual.
16.5 for a LX-P? Can I get this for purchase as well? If yes, where?
I'm trading in a 2002 BMW with 71000 miles which I'm upside down on by about $2500-3000. .....
You would be better off paying off your upside down amount, then go into a lease with $0 down. My local dealer is offering $0 down and $299/mo for the LX, so the LX-P shouldn't be much higher. I got my 08 EX-L V6 with $0 down and $359/mo. Good luck to you.
Leases are not more complex then a purchase. On a purchase you have two factors, price and interest rate. On a lease you have three factors, purchase price, interest rate, and residual. The same thing that makes a purchase a good deal is what makes a lease a good deal, what is the selling price of a car?
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Could you post the specifics of yourr lease; M.F., msrp, cap costs, costs added into the lease and the terms of your lease. BTW, does dealer add the extra costs (dealers fes, etc) back into the lease when there is a $0.00 down lease, which will then be added to the cap costs over the lease term.
I am in the market for the same car and my credit is 720 score. I am using leasing guide.com to help with the payment calculation
Thank you,
What about residual value, miles allowed per year, drop off charges (if any), excessive wear and tear charges (always subjective), acquisition fee, etc, etc, etc. And how many people know that interest rate = money factor?
That is about 1100 cheaper than the best OTD price for an EX-L V6... you did well indeed.
I'll try from memory. Money factor was.00159; MSRP $28,730; cap cost $26,101, right at invoice; costs added into lease $444 for dmv, sales tax, and dealer handling fee; 36 mo/15k miles yr. This was for an 08 model in August.
Or did you forget to mention the BMW trade in......
Being a dealer, why did you make such a bogus post? Shame on you! I don't believe you.
I feel I have made a good point about just posting an OTD without posting all of the information.
LOL, Yes you did, and an excellent one at that! THANK YOU!!!
I've been reading the forums a lot, and I gotta say that there is a lot of useful information in here.
Just wanted to post the price I paid on my car.
2009 Honda Accord Coupe EX-L V6 6M w/o Navi - $26,239 with destination (Not including taxes, title, fees, w/e else)
In your opinion, is this a good deal? Also, the dealer doesn't have the color I want, so I am forced to wait. Does anyone have stories about waiting for their car? How long it typically takes to get a car like this? Any information would be appreciated.
Thank you!
What would be right price to pay at this time for 2009 - EX-L Sedan & 2009 EX-L V6 Sedan in NJ. Appreciate your insight.
Thanks!
Is this a good price? I'm in NJ and plan on keeping the car a long time (10yr+) so depreciation 08 vs 09 is not a concern. Sites like carsdirect are not currently showing '09 target prices and the '08 prices are gone for NJ.
'09 LX-P $22027 for the base LX-P but it has mud guards, trunk tray, wheel locks and pinstripe (none of which I want) so together, they want $22195
36 months/12K miles
gross cap $22814
cap cost redux $1807
adj cap cost $21007
MF=.0018
Residual=$14400
$249/mo+tax
$2899 at start includes 1st, cap reduction, and $827 in "upfront charges" which I still don't fully understand. They told me the acquisition fee is $595 so I think they are just "stealing" a little profit. The $2899 probably should be $2667. Maybe the difference is the reduced dealer fee---see below.
In an earlier email, I was told the dealer fee is $399.50. In his latest email, he said I literally only pay $2899 to start the lease, though.
The Honda website says the current program for the LX, which my guy said applies to other models, too, specifically shows that the cap cost reduction is $2095. I asked why theirs was lower and was told it was the LX-P not the LX, which sounds fishy. Your thoughts?
One more thing, I received an email from another dealer today who only said that Honda just lowered the MF to "reflect 1.9% APR" which would be .00079. He didn't provide any other info and I am still waiting for clarification.
This is n Mass