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Comments
dealer offered 22400 minus 500 flex cash= 21900
doc fee 215
reg 95
nj tax 7%
OTD is approximate 23780 plus or minus a few dollars, I don't have the exact numbers of doc fee and reg but am sure on vehicle price. I also received another offer similar to this on the same vehicle at another dealer. The one offer was 416/month and the other was 414/month (0 down, 1.9% for 60). Seems fair but curious what others thought.
My price is about 350 more than yours, but I'm receiving 450 dollars worth of stuff ( mats, cargo tray, mudflaps installed, wheellocks, 75$ in service credits). Since I would have purchased these things anyway to protect and preserve value, it does represent real value to me.
NY has a lower average doc fee (75$) than NJ, but higher tax 8.625%, so my OTD will be higher.
I'm sure if you wait a month or two, prices on remaining 2013s will start to drop more aggressively, but it is a trade off.
Will you be able to get the color you want or forced to pick from remaining stock, how much is your current vehicle costing you, etc?.
2013 Honda Accord Touring- Basque Red Pearl
Sale Price 30,957.66
OTD 32,318.00
Tell me if I did okay
A better formula is to start with invoice amount which is available on Edmunds, subtract dealer holdback also available on Edmunds for the invoice amount, then subtract any incentives both to the dealer and customer from the invoice amount.
That net amount is an approximation of the dealer's cost. Never be able to really determine the dealer's actual cost due to hidden incentives. But this formula provides a reasonable starting point for determining the price you would like to pay.
Add a profit amount to the net amount calculated above and begin negotations from that point.
Always move up from your calculated amount in small increments. Never allow negotations to move down from MSRP. That will almost always result in a higher price.
Consider any dealer fees not required by the Government, such as documentation fees, as part of the net price. Such fees are not a cost they are part of the price.
If you want to learn from a dealer about documentation fees, check out Earl Stewart On Cars. Very insightful information from a car dealer.
Invoice price minus Hold-back
minus any cash incentives/ rebates
minus doc fee's.
There is no reason to add a profit back to dealer on this starting number. Most of the time the above formula should be your starting point. Dealer is still making a profit.. Middle to End of the year model prices are lower due to more incentive money to dealerships so you need to adjust your asking price.
At this point and time you can get this whole formula on a Accord plus another 6 or 700 dollars depending on your region and how good you can negotiate. Usually to close on a deal in excess of 1300 below invoice it has to be done at the end of the month.
Ken is right.............. Everybody buying a new vehicle needs to question and fight these high doc fee charges/ admin fee's. You negotiate a good deal and give back 400 to 700 dollars.
Every vehicle i buy the first 2 questions i ask the internet mangers are
1- what are your doc fee's
2- will you remove them for the sale of this vehicle today.
3- If the answer is no i adjust my asking price to buy.
Cant get any simpler.
Same applies to all you guys who go from one dealer to the next.
23 Telluride SX-P X-Line, 23 Camry XSE
Had a miserable flight home from Myrtle Beach last night. Bad delays got in late.
What did you decide on your Accord Sport did you buy it yet.
23 Telluride SX-P X-Line, 23 Camry XSE
I'm out of town, so I've not executed. was planning to on Sunday. If another deal is significantly better (white prefered) I could consider breaking or renotiating. I don't mind paying a little more for buying locally for the exact car I want...would have a problem with my deal if you are finding a big price difference through your connections.
How do you like the car?! Thrilled or buyers remorse?
What kind of MPG are you seeing?
Love an update.
just so where on the same page with price fill in the rest
Invoice w/ dest..................22,929
minus flex...........................500
total.................................22,429. how much is your below invoice price without flex??/
What are mats/ reg/ mats come w car.. Do you mean all season mats they are $100 on line
wheel locks are standard w car they are on all of the models
mudguards are $69 dollars
trunk tray is $95
just some words of advice in the future on buying cars and deposits..
Never give a deposit on a car unless you have both agreed on a price. That means your buying that day or dealer is ordering it for you. Always try to get a reciept that has wording refundable deposit. Your pretty much screwed on getting that money back.
23 Telluride SX-P X-Line, 23 Camry XSE
All weather mats. Cargo tray. Mudflaps are 69$, but not installed...having them installed in a shop, front and back would cost 140-150 total. They will do this for free.
Not sure what you mean by rear deck lid...if you mean the back spoiler, yes. If not, I'm not sure. I didn't ask.
On deposit - I did it on credit card only and never signed anything. I'm a very good visa customer, so I've never had an issue. But your warning is a good one. I only did it as I'm interested only in a white car, and they only have one coming in. I wanted to hold it. They would not without a deposit.
Also, tax in NYS is higer than yours 8.625% and license and registration fees are also higher...so OTD prices will never be equivilent. The only things that matters is dealer and doc fees + price of car.
If you decide to break free from that other dealer Bayridge honda is 300 dollars cheaper than your deal right now. I told him i have 4 deals for 500 below and want another 400 plus flex cash to consider buying in Brooklyn that you live out in L.I.
Your going to lose that deposit if you try and buy somewhere else. Why dont you inquiry about your deposit and i'll let you know what happens with pricing at Bayridge. Its hard to negotiate these kinds of numbers in the middle of the month.
Once again i suggest you tell your 10 min away from house dealer.
He needs to come down a few more hundred and dont look back and buy the car from him. or just take his deal it isn't bad.
i called one dealer had a 3 min conversation and im already 300 below your deal. buying a new car is hard enough. knowing how and when to buy/ what to say is the key.
keep me posted
Brian
23 Telluride SX-P X-Line, 23 Camry XSE
2 quick questions.
a) is that 300$ less include the extras like the mats, cargo tray, mudflaps installed?
b) does that 300$ also include that "400 less" or is he willing to go lower?
I assume no dealer or prep fees, just the 75$ doc fee, correct?
23 Telluride SX-P X-Line, 23 Camry XSE
23 Telluride SX-P X-Line, 23 Camry XSE
We would have to confirm that there was no additional dealer fees or charges that would negatively impact the deal. We should also communicate off line if this becomes serious.
We would also have to confirm that these are new vehicles, not ones with lots of brooklyn test drive miles! If he has two whites, I may have a second buyer!
Thanks
At approximately a net $675 below invoice (dealer's documentation/profit fee factored in), I was happy with the result. I'll defer to Brian and others regarding the possibility that you can get that $24,900 OTD price lower.
Good luck with your purchase!
I'd be happy to call your sales person and discuss a Sat pick up!
23 Telluride SX-P X-Line, 23 Camry XSE
(If there is no cash incentive, would it be possible to get the lease incentive, sign a lease and then immediately prepay the total without penalty in NY State? I must admit I am not very knowledgeable about leases either.)
(If there is no cash incentive, would it be possible to get the lease incentive, sign a lease and then immediately prepay the total without penalty in NY State? I must admit I am not very knowledgeable about leases either.)
(If there is no cash incentive, would it be possible to get the lease incentive, sign a lease and then immediately prepay the total without penalty in NY State? I must admit I am not very knowledgeable about leases either.)
There is no penalty in prepaying the lease, aka large downpyament, but if your car is totaled the minute your drive it off the lot, you get nothing, since insruance will most likely only payoff the amount owed, which is $0 in your case.
There is no real incentive for the dealer to sell the car for cash, because now they have to count all those bills, and have someone run to the bank to deposit, and worry about theft.
They do, however, get $600 or so from Honda Finance if you finance through them.
So, if you have cash burning a hole in your pocket, purchase the car via finance, and pay it off in 6 months.
most of the info your looking for can be found on the Edmunds home page.
Prices,, dealer hold back, Incentives and rebates..
Read these boards go back 3 months and educate your self on buying.
then you will know exactly what questions to ask
23 Telluride SX-P X-Line, 23 Camry XSE
OK. I have read as you instructed. I see the following
20,639 invoice plus delivery
-$450 holdback on msrp
-$600 financing incentive to dealer
=19,589 total
Is this then the negotiating starting point, or does one leave the 600$ financing incentive to the dealer =$20,189?
Did you also get some idea about the price for LX model when you contacted your dealers for Sport model? I'm thinking if I should buy the car earlier than end of June since I may need the car a little earlier. As you know, the current price I have is $500 below invoice without including the $500 flex cash. I used to call Atlantic Honda and their price is even higher than this. If I can get a price $ 800-$1000 below the invoice, then plus the $500 flex cash, I think I'll go for it.
Thanks again for all your posts, they are great!
Supply and Demand in your area will be a factor in pricing of the Lx manuel.
You should be able to buy this model for at the minimum of 500 below dealers invoice to 1000 below... plus taxes, doc fee and dmv charges for your OTD price. This price is Excluding the 500 dollar flex cash you will add onto the back end of the sale if you qualify for finance thru honda corp.
Here is your first questions you ask every dealership after you tell him make and model you want.
1- What are your doc fee's
2-Will you remove or reduce them for the sale of this car. If dealers says no you add his doc fee price to the sale of your vehicle.
3- Does your dealership have flex cash if i finance thru you.
4- Here is my offer price to buy this vehicle today. without flex cash added.
5- You buy at the end of the month. Last 2 days last day.
23 Telluride SX-P X-Line, 23 Camry XSE
I will let you know on pricing. you need to start calling dealers and letting each one know what price you buy at. Call 30 dealerships and tell each one here is my offer to buy this car today. You dont need me. i will speak to Bayridge and S.I honda on pricing.
You must be ready to buy Today. Need a color when i speak with dealer
23 Telluride SX-P X-Line, 23 Camry XSE
Area pricing for the Sport model 500/600 below invoice for internet and smart buyers. With 2 dealers i called for you. I suggest as earlier posted to try for a couple hundred more off price with dealer closest to you.. As you see above prices are do- able with these 2 dealers.
On june 30th if i was buying a sport model i would make my calls and hope to find a few dealers looking to sell this model for 800 to 1000 below making my best deal that day. This model is a supply and demand car on most lots. Dealers in the new york, new jersey area are getting walk in customers and selling this model at Invoice price or above. They dont care right now.. Smart buyers/ negotiators are getting 500 below plus.
The best deal to get on this sport model has to be done the last days of the month.
23 Telluride SX-P X-Line, 23 Camry XSE
OK. I have read as you instructed. I see the following
20,639 invoice plus delivery
-$450 holdback on msrp
-$600 financing incentive to dealer
=19,589 total
Is this then the negotiating starting point, or does one leave the 600$ financing incentive to the dealer =$20,189?
The dealer is not going to let you get into the financing incentive. $500 flex cash, maybe....
However, when you go to the dealer with a wad or suitcase of cash, they know they are not getting that $600, so they will bargain harder. If you tell them you want to finance, they know they are getting the kickback from the finance corporation.
If your credit is shot you will not qualify for Honda Finance, they don't take anyone with less than perfect credit. Dealer may find someone else to finance, and may even pad the rate, i.e. you qualify for 6% and they tell you qualified for 7.5% rate... they keep the 1.5% difference.
They may have a "mandatory" Lo-jack, pin striping, paint protection, fabric protection, mud flaps, window etch, extended warranty, or muffler bearings/halogen blinker fluid installed. While they still give you the price of the car you want, they just add stuff at the back end.
So, lots of things to focus on, other than price of the car.
I need to ask a few more questions:
When you say "dealer's invoice" I assume you have added destination fee to the official "invoice price", Correct?
You have not been explicit, but I think you are suggesting that I subtract "flex cash" from my offer price if I decide to finance.(I have perfect credit thus I do not need it)
If I do finance to get the flex cash, can I pay off the loan right away without penalty?
If I take that route, should I walk if they say "no" to flex cash?
Rochester NY only has 3 dealers, and there are a few more in Buffalo. But I imagine that I will get a better deal in a more competitive area. I have business near NYC and Philadelphia and points in between. Can you suggest dealer(s) in that area that might be receptive to doing a deal over the phone and giving me the best deal?
Thanks again,
Phil
Its best to add the dest/ charge to the invoice price of the car when negotiating prices so there is no misunderstanding between you and the dealer.
The dealers that have flex cash will subtract that 500 off your negotiated price If you qualify.
You could pay off the loan after 7 or 10 days. Take advantage of dealerships that have the 500 flex cash..
Your coarse of action is to call and target dealerships first and inquiry about flex cash money if you buy and finance at there dealership.
If you call below dealerships on june 29th speak only to the internet sales manager for the sale that day holding your purchase with a credit card deposit til you could pick up your vehicle. make sure you go over all pricing with a out the door price total.. 600 to 1000 below invoice price is a good deal. If your not purchasing the sport model start your price at 1k below invoice with dest/charge included so there is no confusion.
When you agree on a price you feel is acceptable make sure that price was excluding the flex cash incentives. Some dealers are sneaky and will add that to get you to your asking number.
New Rochelle.............. high volume dealership/ good dealership
Friendly .................... high volume..... in Westchester/Poughkeepsie n.y.
Yonkers honda.........Internet mgr... Rich. S will give you bottom line price
New York doc fee's are only 75 dollars
N.J doc's are $249 to 400 dollars
check board to see what dealers are selling cheaper than others.
i like to make a list of 30/40 dealers and go down the line at the end of the month and make my best deal.
have fun good luck
brian
23 Telluride SX-P X-Line, 23 Camry XSE
autosport, hamilton, garden state, paul miller, dch paramus,dch oldbridge, joyce, some of the better dealerships.
There is one high volume dealership in Albany check them for pricing.
Most of these dealerships will quote you within 150 dollars of the same price. its always a waste of time unless your buying that day.
The key to getting the best deal is buying at the end of the month.
23 Telluride SX-P X-Line, 23 Camry XSE
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