Financing a Honda Civic 2015 Ex (Florida)

suzakusansuzakusan Member Posts: 5
edited September 2015 in General
Today I came into my closest Honda dealership with a price sheet from Costco's Auto Program that was offered at another Honda dealership.

Here is proof:
image

I came in at around 6:00 PM. I show them the price sheet above. They asked if I am financing? I said yes. They then asked to run a credit check, which I allowed. It took them about 30-45 mins to run a credit check and we have yet to begin discussing prices. I see my saleswomen just standing in the financing office and talking to someone over a desk and i'm wondering what the hell is taking so long. They must be discussing tactics on closing this sale!

So the saleswomen comes back (6:45ish PM) and says "Good News! We were able to approve you and we can match the price". So they matched the price sheet and also cut ~$400 of it for around $17,550.00
Offered OTD Price: $18,690.00 - This included TTL as well as dealership fees.
Taxes (6.0%) - ~$1100
Dealership Fees - ($699) - Included in the initial matched price.
Doc Prep Fees - $390 - Also Included in the initial matched price.

Initially I was very happy with this price because I was thinking they would offer $19,000 and up OTD. However, my parents were not happy with this price. My parents do not speak English well so they just speak Vietnamese and I translate. At this time, my parents, think they can push this price lower. Their price point is $17,000-$17,500 OTD.
I tell them this, and the saleswomen calls over a man that is a complete [non-permissible content removed]. He says this is the only offer and he cannot take off a single penny anymore. The saleswomen leaves the vicinity and sits at another desk. I mentioned holdbacks, labor day season, and the 2016 models coming out as an incentive for him to drop the price another $500. I also mention that its the end of the month and the incentives/ bonuses car dealers get. It is now 7:30 PM and mom is getting tired.

He doesn't budge and I extend my hand saying "thank you very much for your time, but I am not interested". He reciprocates the handshake. I pack up and leave...and also wave bye to my saleswomen who is still sitting at another office desk. 10 minutes later the saleswomen calls me asking what went wrong. I told her that we wanted a lower price and they could not do it. She explains that the best price was already offered and said to come back in and maybe we can talk more. I told her we were tired and we will call her tomorrow to discuss coming in.

What do you think? That was my first time walking out of a deal. Do you think I could of done better? Any tips for next time? I came home and e-mail all of the dealerships near me the price that this one offered. I also want to use the College Graduate Rebate program because I graduated about 1 month ago. What else can I do to push the $18,690 price to the $17,000-17,500 range? I am willing to wait until December to buy this car. I don't need it immediately.

Thank you for reading! I know it is a lot!

More General Information:
MSRP: $22,000
Invoice: $20,663
Estimated True Invoice: $20,663 - holdbacks(400)/ incentives = $20,263.
Price I want: $17,000-17,500 OTD.
Price Offered: $18,690.00

Comments

  • kyfdxkyfdx Moderator Posts: 197,896
    What do you base the lower offer on?

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  • suzakusansuzakusan Member Posts: 5
    Just the fact that:
    A. the 2016 models will be coming out soon
    B. Their large stock of Ex Trim levels of Civics
    C. Hopefully as we progress towards November and December they want to rid of the old 2015 models to make room for other vehicles.
  • kyfdxkyfdx Moderator Posts: 197,896
    suzakusan said:

    Just the fact that:
    A. the 2016 models will be coming out soon
    B. Their large stock of Ex Trim levels of Civics
    C. Hopefully as we progress towards November and December they want to rid of the old 2015 models to make room for other vehicles.

    My point is.. you calculated the dealer's cost, then want $3000 off that. No point in doing the calculations, then disregarding them.

    But, you missed the $1000 dealer cash incentive on the Civic EX.

    You bargained for the dealer's bottom line, they beat the Costco price as you requested, then your parents rejected the deal. When they let you walk out, that's when you know you can't go any lower (at least with that dealer).

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  • suzakusansuzakusan Member Posts: 5
    kyfdx said:

    suzakusan said:

    Just the fact that:
    A. the 2016 models will be coming out soon
    B. Their large stock of Ex Trim levels of Civics
    C. Hopefully as we progress towards November and December they want to rid of the old 2015 models to make room for other vehicles.

    My point is.. you calculated the dealer's cost, then want $3000 off that. No point in doing the calculations, then disregarding them.

    But, you missed the $1000 dealer cash incentive on the Civic EX.

    You bargained for the dealer's bottom line, they beat the Costco price as you requested, then your parents rejected the deal. When they let you walk out, that's when you know you can't go any lower (at least with that dealer).

    Ahh I see. Only reason I walked out was because of how late it was. I was willing to try to stay if it was earlier in the day, but that certain day my parents were working until like 5 P.M. so we came in the dealership late. It was our first time in a dealership for that car so I did not expect to buy it unless something amazing was offered.

    Yea the dealership called me back yesterday to renegotiate, but my parents are working so I have no ride/ time to see them.

    I missed a dealer cash incentive!? Damn that sucks. What months were they running it? At this point I am thinking of letting September past because labor day is going to be crazy and just wait for Oct./ Nov/ Decem.
  • MichaellMichaell ColoradoModerator Posts: 193,253
    suzakusan said:

    kyfdx said:

    suzakusan said:

    Just the fact that:
    A. the 2016 models will be coming out soon
    B. Their large stock of Ex Trim levels of Civics
    C. Hopefully as we progress towards November and December they want to rid of the old 2015 models to make room for other vehicles.

    My point is.. you calculated the dealer's cost, then want $3000 off that. No point in doing the calculations, then disregarding them.

    But, you missed the $1000 dealer cash incentive on the Civic EX.

    You bargained for the dealer's bottom line, they beat the Costco price as you requested, then your parents rejected the deal. When they let you walk out, that's when you know you can't go any lower (at least with that dealer).

    Ahh I see. Only reason I walked out was because of how late it was. I was willing to try to stay if it was earlier in the day, but that certain day my parents were working until like 5 P.M. so we came in the dealership late. It was our first time in a dealership for that car so I did not expect to buy it unless something amazing was offered.

    Yea the dealership called me back yesterday to renegotiate, but my parents are working so I have no ride/ time to see them.

    I missed a dealer cash incentive!? Damn that sucks. What months were they running it? At this point I am thinking of letting September past because labor day is going to be crazy and just wait for Oct./ Nov/ Decem.
    As time goes by, the selection of 2015 models will get more and more scarce. May not be many left by the end of this month, given the type of deals folks have been getting.

    Current Honda incentives run through 9/8 - $1000 finance cash.

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  • suzakusansuzakusan Member Posts: 5
    Michaell said:

    suzakusan said:

    kyfdx said:

    suzakusan said:

    Just the fact that:
    A. the 2016 models will be coming out soon
    B. Their large stock of Ex Trim levels of Civics
    C. Hopefully as we progress towards November and December they want to rid of the old 2015 models to make room for other vehicles.

    My point is.. you calculated the dealer's cost, then want $3000 off that. No point in doing the calculations, then disregarding them.

    But, you missed the $1000 dealer cash incentive on the Civic EX.

    You bargained for the dealer's bottom line, they beat the Costco price as you requested, then your parents rejected the deal. When they let you walk out, that's when you know you can't go any lower (at least with that dealer).

    Ahh I see. Only reason I walked out was because of how late it was. I was willing to try to stay if it was earlier in the day, but that certain day my parents were working until like 5 P.M. so we came in the dealership late. It was our first time in a dealership for that car so I did not expect to buy it unless something amazing was offered.

    Yea the dealership called me back yesterday to renegotiate, but my parents are working so I have no ride/ time to see them.

    I missed a dealer cash incentive!? Damn that sucks. What months were they running it? At this point I am thinking of letting September past because labor day is going to be crazy and just wait for Oct./ Nov/ Decem.
    As time goes by, the selection of 2015 models will get more and more scarce. May not be many left by the end of this month, given the type of deals folks have been getting.

    Current Honda incentives run through 9/8 - $1000 finance cash.
    Yea, I am a bit worried about them running out of the EX trim levels,
    Should I just go in labor day and try to renegotiate that price a bit lower?

    Do I have to mention the Honda incentives or did they already add that their previous offer?
  • MichaellMichaell ColoradoModerator Posts: 193,253
    suzakusan said:

    Michaell said:

    suzakusan said:

    kyfdx said:

    suzakusan said:

    Just the fact that:
    A. the 2016 models will be coming out soon
    B. Their large stock of Ex Trim levels of Civics
    C. Hopefully as we progress towards November and December they want to rid of the old 2015 models to make room for other vehicles.

    My point is.. you calculated the dealer's cost, then want $3000 off that. No point in doing the calculations, then disregarding them.

    But, you missed the $1000 dealer cash incentive on the Civic EX.

    You bargained for the dealer's bottom line, they beat the Costco price as you requested, then your parents rejected the deal. When they let you walk out, that's when you know you can't go any lower (at least with that dealer).

    Ahh I see. Only reason I walked out was because of how late it was. I was willing to try to stay if it was earlier in the day, but that certain day my parents were working until like 5 P.M. so we came in the dealership late. It was our first time in a dealership for that car so I did not expect to buy it unless something amazing was offered.

    Yea the dealership called me back yesterday to renegotiate, but my parents are working so I have no ride/ time to see them.

    I missed a dealer cash incentive!? Damn that sucks. What months were they running it? At this point I am thinking of letting September past because labor day is going to be crazy and just wait for Oct./ Nov/ Decem.
    As time goes by, the selection of 2015 models will get more and more scarce. May not be many left by the end of this month, given the type of deals folks have been getting.

    Current Honda incentives run through 9/8 - $1000 finance cash.
    Yea, I am a bit worried about them running out of the EX trim levels,
    Should I just go in labor day and try to renegotiate that price a bit lower?

    Do I have to mention the Honda incentives or did they already add that their previous offer?
    You can do what you want ... just don't be surprised if the dealer doesn't accept. They might be at their rock bottom price already, if they let you walk once.

    My guess is that all incentives are factored into their price.

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  • kyfdxkyfdx Moderator Posts: 197,896
    Yeah... you didn't miss the incentive. It's still valid, you just didn't have it in your calculations.

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  • suzakusansuzakusan Member Posts: 5
    kyfdx said:

    Yeah... you didn't miss the incentive. It's still valid, you just didn't have it in your calculations.

    I think I am going to wait for my credit union to give me a response on an auto loan quote before I go back. If I do finance with Honda's financial services are there any packages in regards to the financing that I can opt out of? Such as like anti-theft or lo-jack? I do not have much knowledge of the financing aspect of Honda.
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