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Comments
In the end, the paperwork said purchase price of 23,336, 1.9 financing for 60 months and $3000 for the trade in and a $500 down payment. IMO, they inflated the value on my trade in by 1000 to 1500.
Was D not a good option either?
$22,803 (includes $790 destination fee)
$1368 PA tax (6%)
$94 License fees
$131 doc fee
$24,396.00 OTD
Is this a good price for this model? Thanks.
MSRP $24,980
Invoice $22,929
You can do better since the price w/ doc fee is pretty much at invoice -- you want to be $500-$1000 below invoice. Not sure how soon you need the car, but you'll probably get a better deal at the end of the month. If you need it now then try asking for $23500 OTD and go slightly up from there -- contact a bunch of other dealers to see what prices they're offering
If financing directly with Honda then ask if $500 flex cash is still available or not
I'll shoot for ~21900 (incl. destination and doc fee), and possibly wait until the end of the month if I am not getting close to that price this month.
Paint protection is overpriced and essentially nothing more than a wax job. The actual product has a cost of a few dollars and the dealer pays a lot guy $10 an hour to apply. The same product can be bought at any auto store for $15 or so. Selling point for the overpriced paint protection is the so-called insurance. Insurance which, of course, is designed to assure there are few, if any, actual payments.
The lifetime warranty is designed to entice buyers to buy from that dealer. The paint protection provides the dealer a huge profit of several hundred percent.
Lifetime warranties should be ignored as the mean nothing. Paint protection should be met with a loud NO. A short trip to the Internet will reveal much.
Also remember that the LX has 16" tires and Sport has 18" so when it comes time to replace the tires, you'll be paying more for the 18"
Differences: http://automobiles.honda.com/accord-sedan/specifications.aspx
LX: http://automobiles.honda.com/accord-sedan/price.aspx?Model=CR2E3DEW
Sport: http://automobiles.honda.com/accord-sedan/price.aspx?Model=CR2E5DEW
http://automobiles.honda.com/accord-sedan/sport-trim.aspx
Get price quotes for both models from multiple dealers in your area so you have an idea of the actual price difference you'll be paying -- $1710 MSRP difference but actual difference will vary since dealers wont have as many Sport models in stock as the LX so harder to negotiate (Sport probably sells at a faster rate, around my area there are 3x more LX in stock than Sport)
To get a general idea of Accord sedans in stock (searched within 100mi of my location)
-- Edmunds.com shows:
EX (72) EX-L (188) EX-L V-6 (92) LX (190) Sport (51) Touring V-6 (9)
-- Cars.com shows (easier to view dealer car pics on here as well):
EX(125) EX-L(409) LX(299) Sport(86) Touring(15)
Does anyone know if the current financing of 0.9 for 36 and 1.9 for 60 will lower after July 8 when it expires or will it stay the same. I cant imagine that the rate will increase being that the 2014's are coming in a few months.
Honda never let us know until the day it happened. People would hold off buying with the hopes the low rates would continue or drop even further only to find out the programs ended.
The difference between paying 1.9 % or .09% doesn't amount to squat when you get down to it. Not like buying a house with a 30 year loan.
I remember every time I tried to guess or predict, I was usually wrong.
1.9 % APR on $20,000 borrowed for 60 months will cost you $349.68 per month. Lower that to 0.9% and your monthly payment drops to $341.01. The difference is $8.67 per month, a total of $519.98 over the period of 60 months.
I wouldn't make too big of a deal out of $8 per month on a new car purchase, but yes, every little bit helps.
In the end, the paperwork said purchase price of 23,336, 1.9 financing for 60 months and $3000 for the trade in and a $500 down payment. IMO, they inflated the value on my trade in by 1000 to 1500.
Was D not a good option either?
Well, at least they didn't get you for the 72 month loan.
If you are OK with paying $23,336 for it, then it is all that matters. Depending on where you live, most of the $3500 probably went to taxes and fees...
You've got a great car. Enjoy it!
Yeah, I know to some people that could be a big deal, but suppose they changed the program and RAISED the 1.9 to 2.9?
Could happen and I've SEEN that happen many times.
People take these giveaway rates for granted and expect them to always continue or even get better and that doesn't always happen.
That was my only point.
They jacked up my trade in value to make the deal. KBB was $1650. I did my research prior and didn't think I'd be able to sell it private party for more than $2,500(even that might have been too optimistic). I wasn't interested in trying to sell it on my own in order to reduce a variable in the car buying process.
For my pilot i bought about a month ago, they gave me .9% financing on 60 months even though their program was .9 for 36 months and 1.9 for 60 months.
Dealers try to separate these from the price to deceive buyers into believing they are paying less for the car. For example if you settle on a price of $20,000 and the dealer adds a $500 documentation fee the actual price of the vehicle is $20,500. Dealers use the term fee to make such charges seem legitimate.
I have bought several Honda vehicles in the past few years in the DC area. I suggest you contact Pohanka, Criswell, Sport Honda via the internet and request pricing. Those dealerships have been very competitive and upfront with there pricing. Criswell has been very reasonable with trade values always offering KBB.
Always a good idea to access the various Honda dealership websites to see which dealership has the largest inventory. Often times a higher inventory will result in a lower price. High volume dealerships often sell at a lower price.
Go to True Car and get their target price. That target price is not the lowest but does provide the highest price you should pay. However, you should be able to negotiate a lower price. Do not access any dealer via True Car.
To come up with a starting point for negotiations, go to Edmunds incentives and learn the Honda holdback and any incentives available to both you and the dealership. Take the invoice price for the vehicle, available on Edmunds and subtract the hold back and any incentives from that invoice price. That will provide a general idea of the likely cost of the vehicle to the dealership. Negotiate upwards from that number.
I also suggest avoiding College Park Honda and Ourisman Honda as I have found those two dealerships seem to play too many games. I think it unlikely you will get the best price at these two dealerships.
Also, in Maryland the dreaded dealer documentation fee is $200 while in Virginia it is $400 or more. While you should not pay that fee, which is really part of the vehicle price, if you buy in Virginia you should not pay more than the $200 Maryland dealers try to get a buyer to pay.
Always good to remember you, as the buyer control the process not the dealer. You can walk and the dealer knows if you walk you will not be back. The pressure is all on the dealer as you can always go eleswhere to buy. Do not be afraid to use you best negotiation tool, your feet. If something does not feel right walk away.
Criswell is outstanding, but Oursman could be a silent player if they haven't met their quota and don't play games with you. Many thanks to LTLLADY again, what a awesome post.
On doc fees
Doc fee's.... very few dealers remove this charge, some may reduce them.
always add your dealers doc fee's onto your asking price.
Start your buying process the last days of any month with the price formula of,,, Invoice price, minus hold-back , incentives, minus doc fee's / prep fee's etc. As we get closer to Dec 2013.... Prices will and are ranging between 5/600 below invoice to almost 1500 on all accord models. Some area's are close to 1200 below right now.
True car, Costco, E-price quotes are all good starting points but the real negotiations are done on the phone or in the showrooms at the end of the month.
23 Telluride SX-P X-Line, 23 Camry XSE
$21,300 (including destination) + TTL, SW Ohio.
Long story:
An interesting buying experience.
Monday: not really in any big hurry, but just starting to zero in on options, with Accord Sport and Mazda 6 at top of the list. I stumble on TrueCar to see what it says about Accord pricing, and end up accidentally sending out requests for quotes from dealers.
Not surprisingly, I immediately get calls and emails, which I either ignore, or explain that I'm not ready to buy, made a mistake, etc.
But I notice one of the quotes is really good: $21,300. The sales guy also seems reasonable, and not too pushy.
So I explain my situation and tell him that I still needed to test drive the cars, but I may be getting back to him in a few days.
Thursday: test drive Honda, Mazda, and Kia Optima. I test drive the Honda at another dealer, which is closer to me.
Friday: tough decision made to go with Accord. Now to close the deal.
Dealer I test drove with sends me a "great" offer close to $23,000, which I tell him is way more than I'm looking to pay.
I also get annoyed by his insistence I need to go with Honda financing, since I already told him I am preapproved with my local institution and not interested.
Not only does he not accept my counter-offer; he doesn't even reply.
Oh, and during the test drive, he had told me the splash guards installed on the car are a required $200 option (I don't mind paying for splash guards, but don't like being told I have no choice; also seems a little pricey).
In parallel, I've gotten in touch with the original dealer with the low quote (who, all else equal, I would have gone with anyway), and we get transaction rolling, with zero hassle. Much more pleasant to deal with.
I think we're almost done when I get a call back from the dealer that they had a miscommunication, and already sold the car to someone else.
BUT, without hesitation they volunteer to get me another, which they do on Monday.
Here's the kicker: it's the exact same car I test drove from the other dealer!
Oh, and no, I didn't have to pay extra for the splash guards!
Aside from the little problem, a smooth experience, and happy with the car, the dealer, and the price.
$25,609 but in KBB it is $26,399 ( with destination fees). Which price should I consider as invoice price when I negotiate with the dealer?
(To start with invoiuce -$1200) and pay max (Invoice -$600) + tax. Is it sound right/fair?
Also take into consideration the doc fee -- if your state has laws to limit doc fees then you're fine ($80-200 is reasonable), but if your state lets dealers choose then they may offer a cheaper price but add a $400-600 doc fee
Dealers should have plenty of EXL inventory so easier to negotiate on that model -- $800-1000 below invoice for car +dest + doc fee should be doable
Check the last few pages on what other people paid at the end of May to get an idea
$800-1000 below invoice for car +dest + doc fee should be doable
PLUS state Sales tax, correct?
Thanks for all your help ...
You probably won't get the best price until the end of month, but start asking around now -- if a dealer has a slow week then they may offer you a deal just to get a sale (happened to me mid-month when I bought my Civic a little over 2 yrs ago)
> 21000 sale
> 1669.50 tax 8.95%
> 449.89 doc fee
> 377.66 lic
> 22.75 postage
>
> 23519.80-500.00 flex=23019.80
Are they going to mail it to you?
That's one I never heard of!
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Thoughts
MSRP inc Del 24,180.00
Invoice 22,199.00
Purchase Price 21,346.97
Doc Fee 349.00
Sales tax 6.25% 1,364.53
Title/Reg/Insp 139.50
OTD 23,200.00
No trade and the price includes the $500 flex cash. Financed 60 months at 1.99%. I was shooting for a few hundred less but they weren't budging. With needing a car, I closed on this. Without the need, I think I could have done better at the end of the month. They also included a complete detail inside and out at a later date. Experience was longer and more difficult than it should have been.
OTD : 21,800 in VA
Getting the car from MD.
Any help would be appreciated.
Also if you got any flex cash or had any trade ins
Not at all to raise questions about your credibility/veracity, however, the other vehicle I'm considering is the Subaru Forester 2014. On that board, you also posted that you received a loaded vehicle at an unbelievably low price...lower than anyone on the board...and amazed everyone.
Now, we see that you are acquiring a Honda Accord Sport at more than 2000$ UNDER INVOICE.
Possible explanations:
1) Dealers in MD happen to get their cars at a much lower price than anywhere else in the country, and can afford to sell them for less
2) You are the most amazing negotiator on the planet and should be writing books on this subject (I'd buy!)
3)There are details in these transactions that you are leaving out, and do not fully reflect the true value of the deal (trade in, fees, etc)
4) You are having perverse fun at everyone's expense.
Which is it?
Must have been one of the four possible explanations given by buyer 157!
Now, back to the topic at hand.
Best I've been able to do on a Honda Accord Sport in the ny,nj conn area is invoice, - 500 in flexcash. No additional fees or charges...so essentially 22428+ tax. Also have 1 yr of maintenance thrown in. This is for a "0" mile car in the color I want.
Will get a discount on my desired options, mats, splash guards and cargo tray but they are not included.
I don't think it is a super deal. I think it is a fair deal, and best I've been able to find. I heard of lower prices, but when all the fees are added. it always comes out higher.
What does everyone think?
If you read my posts in the different car forums on buying you know i'm a expert at Negotiating and how to obtain the best price on new vehicles.
2014 Subaru Forester redesigned/ Updated for 2014 A excellent choice for small/med SUV.
I tried to help buy/ order this vehicle at the end of May thru 4 states.. N.Y , N.J., D.E. and Conn.
500 below dealers invoice price was the best a few { 2 ] dealerships were willing to go if i bought it on that day..
Most of the dealers i spoke with wanted Invoice price or above at this time.
You could make your own conclusion on 2k below at this time on that new model
23 Telluride SX-P X-Line, 23 Camry XSE
Tell me what the dealers doc fee's are.
23 Telluride SX-P X-Line, 23 Camry XSE
Now, I just have to decide which to pull the trigger on.
I'm buying in New York. Doc fees are 75$. I'd like to get lower on the vehicle (I'd actually simply be happy with getting flaps, mats and the cargo tray!)but I think this is the best I've found.
Your coaching has never been suspect. We just all called BS on Schwemi.
make dealer you are buying from give you invoice price on your items or make him match prices from college hills
mudguards $69 and cargo tray $97
I am going to S.I honda on thurs were i purchased my Accord in Feb.
Post your model and color, options i will see what i could do for you as far as price.
what is the best price you recieved.
23 Telluride SX-P X-Line, 23 Camry XSE
If it has less than about ten miles it hasn't had a proper PDI!
There are quite a number of items and functions that have to be checked and it takes a minimum of at least ten miles to do these things.
price include $500 flex cash.