Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
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I have been shopping around for a 2003 Honda Accord LX 4 dr, 4cyl in Atlanta. The best deal I have heard is 18000 + taxes + documentation. 18000 is very close to the invoive price. Is the 2003 going below invoice now? Is this a good deal? Thanks a lot for your input.
Thanks!!
However, after reading some of the above posts discussing the scarcity of Accord EX V-6, I'm wondering when I should start looking for the car--towards the beginning of the month b/c they are going to be so hard to find or do you think I can hold out and wait until maybe the middle of December to start my search. How much bargaining power will I have when buying the EX-V-6 NAVI?
Is the particular car so difficult to find that I will have to order it from the factory? Anyone in the DC metro area recently buy or attempt to buy the car that I'm looking for? If you could, would you please give me advice on where to look? How to get the car that I want?
Any help will be greatly appreciated!! Thanks!!
It will give you some idea of what to expect and what to watch out for.
The biggest advantage you have going is that -- I assume -- you have the whole month of December available to work with some very motivated dealers. I suggest making your first visit (or e-mail inquiry) on the 5-8th (by then the dealers should be aware of any factory programs for December), tell them what you are looking for and have them check inventory is available. If you can wait to make a final commitment, the dealer offers may drop as you approach Christmas day.
Also, as others mentioned on this board, I wouldn't sweat out the last dollar -- close the deal when you have a price you like at a dealer you can work with.
That's my theory, at least -- hope it helps.
I ended up geting my coupe for right around 22,500 or so and $12,000 trade at Team Honda in Lithia Springs.
Had I known that my credit union offered a car buying service, I would have used them. Yesterday morning I contacted them online and gave them the specs for the car I was interested in. They contacted me in the afternoon with a price that was very close to the one I had spent hours of haggling about. I ended up buying the car from the dealer as there was little difference in price, but I will say using the car buying service would have saved me countless hours of headaches and turmoil.
Just don't believe everything you read on the internet. I read some posts and manage to bite my tongue. Some of the numbers posted can't be true unless a dealer was planning to go out of business quickly.
A lot of times, people simply don't remember what they paid for something. Maybe there was a trade involved which clouded things?
I had a customer last week who swore "a friend" had bought a CRV for a price I knew was impossible. Well, I was the person who had sold his friend. The numbers were off by 1000.00.
I called his friend, my customer, and asked permission to show the guy a copy of the purchase order. Permission was granted. As the guy squirmed, I knew he had dropped his friends price by 1000.00 in an attempt to better what his friend did.
Sheese...people are funny!
Beware of these Car Buying Services. In my month long search for a car I realized my credit union also had a car buying service. Well, I gave him the specs for an 04 Camry SE w/options and 3 days later he gave me a quote that listed MSRP a full $1000 OVER actual MSRP and a selling price only $100 UNDER MSRP. Now, maybe he just quoted the dealer and didn't examine the price, but maybe not. Needless to say I did my own negotiating when I bought my 04 Accord EX.
I have checked edmunds, kkb.com, etc. and can't find any reference to the holdback.
What technique did you use with the dealer?
An EX is 20,533 + 1344 tax + 152 'fees' = 22,173
I checked with two local dealers in Houston and both had one 2003 6-speed with Nav available. I put in a request one evening and the guy called me back within an hour with a price about $500 over invoice. I said thanks but no thanks I had an offer for invoice. He said he would talk to his manger and send me an email. Prcing was $1 under invoice. The other dealer I had been working with cam back with the same pricing; so the going rate for 6-speed Accord in Texas and Oklahoma is invoice. I can get new 2004 6-spped right now for about $600 over invoice (plus the additional cost of 2004 over 2003 of $630) net difference right now for XM radio and year newer car is $1230, but the financing offered on the 2004 for 60 months is only 3.9%
At least right now I am going to wait. I like the TLs but at MSRP the Honda is a much much better deal. I am going to put another 25,000 (another year) on my car before I do something! More time to look and analyze and learn from you guys!
Took about 30 mins to do the paperwork and I just brought it home.
Thanks for all the info.
Yeah, I bought a 1999 Accord EX from them New Year's Eve of 1998 at Eskridge.... Got it at invoice, but they left out the owner's manual, jack and wrench to the spare kit. Needless to say, I called the dealership about this. They denied everything and told me to buy the parts from my local dealer. I spoke to Honda NA about this and within 3 days had the parts. Care to guess how I rated them on the survey?
$23,664 + $490 (invoice)
$175 window tinting (I asked for this!)
$1060 HondaCare 7yr/100k warranty (I also asked for this!)
$125 Floor mats (yup, I also asked for it!)
$349 doc fee (not negotiable by law in Georgia!)
$21 state fees
$1711.71 (7% sales tax)
OTD: $27,595.71
I actually adjusted these numbers just a bit b/c I had a trade in. So I added it back to the price (which adjusted the sales tax a bit). I know what you are thinking, they screwed me on the trade. But I don't think so. I got what i needed to make it work. Also, i wanted these addons and requested them up front, stupidly or not. They didn't try to sell not a single thing more. There was a little white sticker on the car with about $700 in addons which i said before i even got there i wouldn't be paying. And it was no problem! I hope they did make a few dollars on my deal because i want them to be around next time i buy. It was worth it for the hassle less deal. Also, I am a 24 yr old and i thought they might think i was an "easy target" (i did my homework), but i was treated very well! Happy car shopping. I'm glad its over and everything is how i want!
Anyhow, I finally agreed to a great out the door price at Open Road on Route 1 and would recommend them to anyone buying a Honda in NJ.
Thanks Edmunds and Thanks Open Road!
It sounds like a pretty good deal -- although I would argue that you really paid $349 over invoice because you should count the doc fee as part of the price of the car. I'm not sure who told you that a $349 doc fee was required by law in Georgia, but I have a hard time believing that's true. I bought from the same dealership and didn't pay the fee, at least not explicitly (but I was buying from out-of-state). Can anyone in Georgia confirm or deny the doc fee legal requirement?
Also, be careful about posting names of salespeople at dealerships. That's prohibited on this forum according to the message at the top of the page.
I've got the same car except the navigation system, so I'm sure you'll enjoy it!
My 2003 Accord coupe does show it, but the dealer reduced the vehicle price to satisfy our OTD price agreement.
This is a primary reason to negotiate on OTD prices.
Who cares what the DOC fee is anyway. As long a the bottom line is what you want it to be. If my dealership's fee was $20,000 they'd better sell my Accord EX-L for $2,000.
Thanks.
I have a few more general questions:
I applied for a Honda auto loan at Honda financial services online and got $23,500 guaranteed from them. I said that I would put $5000 down on the car. I plan to charge the $5000 on a zero percent interest credit card by the way. Anyway, I didn't realize that the offer for the loan is only good for a month--Dec 1st. I thought that it would last a lot longer . . .
My question is will the fact that I applied for the Honda loan this month affect my ability to get credit from Honda next month? I'm hoping that my credit score won't lower and my chances for getting a decent interest rate on my car loan hasn't gone out that window since I foolishly applied for the loan too early!!
Does anyone have suggestions on what I should do to fix this? By the way, my current credit score is 730 which from what I understand is pretty good. I'm just hoping that I won't be heavily penalized by what I did!!
Any suggestions?
Good luck on your purchase.
Any ideas?
Is there any realistic way to negotiate the documentation fees down from $199 to $50? When I shop around for my new 2004 Accord EX V6 with Nav I'm going to tell the dealer I'm not paying any more than $50. Is this realistic?
dealer's preparation of the documents. Why would they want to charge $50 to fill out a document that benefits them? Well, dealers look for anywhere to make money (but doc fees are common in mortgage too). In some states the doc fee is a set fee regulated by the state. In other states it can be whatever the dealer wants to charge. Find out what the situation is in your state first. If it isn't a set fee (or if the dealer is trying to charge more than the set fee for your state) you can definately try and negotiate this.