2016 Honda Accord Prices Paid and Buying Experience

arun2011 · September 2016

Fairfax Honda in Northern VA

speedy19 · September 2016

arun2011 said:
2017 Honda Accord Ex-L
MSRP: 29,635
Market Price: 27,500
OTD: 26,000 Includes TTL

Hi - where did you get this deal?
did you get sensing on this car?
Do you know what invoice was?

arun2011 · September 2016

Dealership name is Rosenthal Fairfax Honda. No sensing on the car.

stever · September 2016

@jinkee1, may not matter now, but dealers make money putting financing together. So paying cash can cost the dealer some profit and they'll raise the selling price to account for that.

jinkee1 · September 2016

@stever That car has gone and they told me they only have EXL with Honda Sensing but OTD would be 29k and I asked them to take propack off but they said no. I asked them again but still no.

maybe I should contact other dealers.

But anyway, I thought dealers do not care cash or financing a lot? Dealers just need to sell cars. Do they really care for financing department?

Thanks.

speedy19 · September 2016

@jinkee1 the financing dept claims they get $100 when you finance at 0.9%. I think its complete BS. They always lie. I assumed that by financing the honda dealership got $1k. hence when I brought up financing in my deal I got another 500 off the OTD price.

speedy19 · September 2016

Keep in mind, if they give you a rate above market of 0.9 and you have excellent credit, they are making that 1% profit. the finance guy at honda basically told me that they have done that before in certain deals.

stever · September 2016

jinkee1 said:
@stever That car has gone and they told me they only have EXL with Honda Sensing but OTD would be 29k and I asked them to take propack off but they said no. I asked them again but still no.

maybe I should contact other dealers.

But anyway, I thought dealers do not care cash or financing a lot? Dealers just need to sell cars. Do they really care for financing department?

Thanks.

The profit margin on new cars is pretty skinny, and the kickback the dealer gets from the bank or lending arm of the manufacturer can make the difference on whether a deal works for the dealer or not. Yeah, they get paid either way whether you do cash or finance, but there's "extra" with financing. You don't care about the extra but the dealer does. And sometimes they mark up the rate and skim more that way, which is why it's good to get your own rate quote and then invite the dealer to beat it (usually they can).

Inventory must be dwindling fast. Dealers get funny when inventory is low - they think the leftover cars are worth more.

I'd hit other dealers or look at competing models or just wait for the 2017s. But I'm not looking for a car so that's easy for me to say.

ansub1976 · September 2016

Hi @stever. Just started my search for a 2016 Honda Accord LX with Sensing (I know it is a bit late in the season) in Texas. The first 'no-haggle' dealer that I did the test drive of the car at quoted a OOTD price of $22,240 ($20,730 plus TTL and other fees). I know this is not the best deal possible, but was wondering what would be a target for me to negotiate with another dealer for the LX with sensing. Your expertise is much appreciated! Thank you!

stever · September 2016

Hi @ansub1976, Texas is getting a bit better on deals, especially around Dallas.

I'm seeing invoice of $22,955, MSRP of $24,840 and the TMV average is $22,502.

So your OTD price is less than the average selling price. And the selling price is a nice $2,200 below invoice.

Looks like plenty of inventory in Dallas so that will help as you shop the quote around and I expect similar prices in Houston.

If you are in Midland or El Paso - well, you must not be, otherwise your current quote likely wouldn't be so good.

Good luck and let us know how it goes.

ansub1976 · September 2016

Thank you @stever! I am in San Antonio,Texas and was seeing almost all the dealers around here having atleast a few LX models with Sensing and so you're right on the inventory being quite plentiful. I will start composing my email to the dealers in San Antonio, San Marcos and Austin and see how much better a deal they can offer.

vaporgirrl123 · September 2016

I'm in Maryland.

2017 EX coupe. Paid $25,650 OTD including TTL & dealer fees. Plus got a great deal on my trade in

stever · September 2016

Congrats @vaporgirrl123!

tf17234 · September 2016

Got an offer in central CA for a 2016 Ex-L $25,500 and OTD is 28,000. They said invoice was 27,322. Doesn't seem like the best deal but I'm having a hard time getting them to budge. It's the only silver 2016 ex-l I could find even calling bay are and so cal. What do you guys think? Maybe I should just get a 2017?

stever · September 2016

We show invoice to be $27,060 (that's including the $900 destination) for the four cylinder. The TMV average is just about the same as invoice.

And yeah, inventory is about gone. I don't see any EX-Ls in Fresno for example, except one V6.

$25,500 is $1,500 below invoice and that's not bad.

TMV pricing for the 2017s is coming in around $1,000 above invoice so far.

Tough decision (third option would be to wait....).

tf17234 · September 2016

Thanks Stever, yeah I'm going to go for it figure I rather get the color I want even if I pay a little more!

bmwm5f1 · September 2016

Would it be possible to get 0.9 for 60 months on a 2017 model?

brian125 · September 2016

bmwm5f1 said:
Would it be possible to get 0.9 for 60 months on a 2017 model?

0.9% is not being offered yet on Accords thru Honda .

Get pre- approved by a credit union, or bank for @1.9% then have each Honda dealer match or beat your rate.

Check out rates at Capital one , Pen Fed credit union. With Pen Fed they will pre approve you in 1 day

https://wallethub.com/car-loans/penfed-credit-union-13307097i/

Kirstie_H · September 2016

A reporter is working on a story about car shoppers who are only interested in buying cars that are made in the USA. If you're one of these shoppers, and you'd like to talk about your experience shopping for American-made vehicles, please reach out to PR @edmunds.com by no later than Thursday, September 15, 2016.

jinkee1 · September 2016

I got several offers for EXL

1. For any of the 2016 Accord EX-L's (MSRP $29,505) you have selected the Honda Summer Clearance deal is $24,878 plus TT&L."

It does have floor mats, trunk tray, wheel locks, tint, door edge guards, and splash guards. It has 6,049 miles, but as I mentioned previously we will qualify it for the full 3-year. 36,000 mile basic warranty and 5-year, 60,000 powertrain warranty.

BUT, THIS IS manager demo so it has 6000miles on it.

OTD would be $26,832 for this EXL.

2. This offer for 2017 Accord EXL

MSRP: $29,855.00
Your Best Price: $25,151.00

The total due would be the quoted price, plus $400 tag/title/doc fee, $1495 dealer added equipment package and 6.25% of the difference between the quoted price and the value of the trade (if there is a trade).

so Total would be around $28,650.

I asked them to take Dealer added equipment but they said NONONONO

Anyway, my original plan was 2016 Accord EXL and they are the same I think ? (2016, 2017)

I think I will go with #1 offer.

What do you guys think? @brian125 @stever

Please help me how can I get a better deal since it is my first car buying experience.

I think I can ask the price down more since if has 6000 miles on it?

Thank you very much in advance!

brian125 · September 2016

Walk away from the 2017 model you could buy another 17 model from a reputable dealer without them ramming another $1500 in UN wanted accessories down your wallet .

My suggestion is ;

Go check out this demo Accord with 6k miles . Make sure its ok and u like ( test drive ). Then get there best trade in price for your car Nothing more . Do not negotiate another penny off dealers original offer on this vehicle . This will ensure you get dealers best TRADE- IN price 1st.

( Let dealer think original price on demo is good and your happy with it.) . Then tell dealer you will call him tomm. you are looking at another Accord down the road.

Call back the next day and offer dealer 24k............ excluding TT&L. Plus there trade in price If its fair to good .................... .Otherwise lower your demo price offer a few more dollars.

If dealer lowball's your trade the day before either sell private or shop car around to other dealerships.

I've been doing this many, many years. DO not rush any deal. Play it like I'm saying and you will save a few more dollars.

Post back if you need help

stever · September 2016

Sounds like good advice to me @jinkee1.

If you wind up at a dealer and have questions, we have other ways you can contact Edmunds for shopping advice and help.

dmcc224 · September 2016

I love the dealers who try to sell used cars as "new" lol. I asked my local dealer to beat the price I got from a dealer 65 miles away on a BRAND NEW 2016 EX-L V6. The local dealer told me "it was my lucky day" and offered me a price $300 less than the other dealer but the car had 5000 miles on it. Needless to say I drove the 65 miles, paid the extra $300, and got a car with 17 miles on it.

stever · September 2016

Dealers almost always seem way too proud of their miled up demos and they rarely deal on them. I haven't been able to figure it out.

5,000 miles should be "worth" at least fifty cents a mile to my way of thinking. That would be a $2,500 discount, not a measly $300. Good for you for walking.

ansub1976 · September 2016

@stever While trying to negotiate with multiple vendors on the 2016 Accord LX with Sensing, one dealer offered an OTD price of $22,870 for a 2017 Accord LX with Sensing after much back-and-forth. This is in Texas. I still need to negotiate a good trade-in value for my car but does this sound like a good deal for the 2017 model year Accord?

stever · September 2016

An LX with Sensing has an invoice price of 23,092 for the 2017.

My bias is toward getting the latest and greatest so I'd do that deal. You're below invoice OTD.

For the trade, you can find a CarMax and get a quote and use that to get the dealer to give you a decent price on your trade.

Let us know how it goes - almost seems too good to be true, especially for Texas.

stever · September 2016

An LX with Sensing has an invoice price of 23,092 for the 2017.

My bias is toward getting the latest and greatest so I'd do that deal. You're below invoice OTD.

For the trade, if you can find a CarMax and get a quote, you can use that to get the dealer to give you a decent price on your trade.

Let us know how it goes - almost seems too good to be true, especially for Texas.

photog72 · September 2016

ansub1976 said:
@stever While trying to negotiate with multiple vendors on the 2016 Accord LX with Sensing, one dealer offered an OTD price of $22,870 for a 2017 Accord LX with Sensing after much back-and-forth. This is in Texas. I still need to negotiate a good trade-in value for my car but does this sound like a good deal for the 2017 model year Accord?

If this is in Houston, go to Texas Direct Auto. They give better pricing on trade-ins compared to Carmax. After TDA, contact this guy - http://www.givemethevin.com. If his quote doesn't beat a quote from Carmax or TDA, he'll give you $100. On my trade in, he beat TDA by $200. They come to your house, hand you a check, and take the car away. Check cleared.

henryn · September 2016

stever said:
Dealers almost always seem way too proud of their miled up demos and they rarely deal on them. I haven't been able to figure it out.

5,000 miles should be "worth" at least fifty cents a mile to my way of thinking. That would be a $2,500 discount, not a measly $300. Good for you for walking.

+1 on that. A car with 5,000 miles is not new, and should be heavily discounted. If it wasn't at least $2k less than the best deal I could find on a brand new car, I would not touch it. Period.

And at this stage of the game (September), I would not buy a 2016 unless it was at least $1k less than a 2017. Just me, YMMV.

jinkee1 · September 2016

First of all thank you guys!

I got a 2016 Accord EXL for $27,050.01

I did not purchase a car that has 6000 miles on it.

That was White/Ivory but from the beginning I wanted Black/Ivory and I certainly mentioned what color I wanted.

So, dealer had a Black/Ivory, it was a manager demo but only has 900miles.

Since it has only 900miles on it, he said OTD would be $28.7k.

But, I remember that he emailed me and said

"For any of the 2016 Accord EX-L's (MSRP $29,505) you have selected the Honda Summer Clearance deal is $24,878 plus TT&L for a total of $26,848.

It does have floor mats, trunk tray, wheel locks, tint, door edge guards, and splash guards. It has 6,049 miles, but as I mentioned previously we will qualify it for the full 3-year. 36,000 mile basic warranty and 5-year, 60,000 powertrain warranty.

Black/Ivory was MSRP 29,505. I asked him to read email again.

But still refused to sell this car for a total of $26,484.

I said you definitely told me that ANY OF 2016 EXL MSRP 29,505 would be $24,874 and this car is also MSRP 29,505 but why is it different?

He said because it has only 900 miles.

I said you did not mention about miles and now you're taking about miles? so you just changed the price?

Then he went to GM back and forth and final price was closed to $27,000 but he said dealer installed equipment would be $1500 more.

I was gonna leave but he went to his manager again and said total would be $27,100.

My maximum was $27k.

So at the end, we agreed $27,050.

I don't know it is a great deal or not. But at least I got a car that I wanted (Black/Ivory), I think 900 miles is not too bad...

This thread might be boring, but I just wanted to share with you guys because you guys helped me a lot!!!

Thank you guys again!

BTW, I purchased this car with all cash but funny thing was they didn't have money counting machine.................... LOL don't know why they don't have at least 1.

gmanusmc · September 2016

@jinkee1 - it probably would have been better to write a check or get a certified check. There are ways to ensure your check is good. Now they have to report your cash transaction to the government.

penumbra1 · September 2016

Bought a new 2016 Honda Accord EX-L modern steel color on Sunday for $24299. Doc fees $80, plus tax and registration. This is in SoCal. Pleased. Learned a lot on this and other threads about how to proceed. Got the deal over the phone, went in and signed. The car was waiting for me.

Of interest, got a price of $27,100 for a new 2017, but thought a savings of nearly $1000 for the 2016 was worth it.

henryn · September 2016

Your numbers don't add up. 2016 for $24,299, 2017 for $27,100, with a "savings of nearly $1,000 for the 2016". Your numbers, as stated, show a difference of $2,801.

brian125 · September 2016

Regardless if above poster cant add........... Its one Fine deal @2760 below invoice price.

penumbra1 · September 2016

Sorry for the pathetic pricing error.

2016 Honda Accord EX-L $24,299.
2017 Honda Accord EX-L $25,100. Should mention that this offer was from a different dealership, in Los Angeles.

dmcc224 · September 2016

Washed and waxed! Figured Id post a pic or two. Thanks for the good advice everybody, I feel like I did well for my first new car purchase!

kyfdx · September 2016

@dmcc224 Nice!

ansub1976 · September 2016

I ended up buying the 2017 Honda Accord LX with Sensing today. I was able to get the dealership match the good trade-in estimate I had previously gotten from another dealership. The price before TT&L and other fees was $21,400.

After negotiating with two other Honda dealerships, this is the best deal I saw. I compared it with the offer I got from a dealer who wouldn't budge from a price of $20,730 plus TT&L for the 2016 LX with sensing. So thought $700 extra was not unreasonable for the new model year.

Very pleased with the car. Driving it was awesome when compared to my nearly 10 year old ride that I traded in! Thanks @stever , @photog72 and others for all your valuable suggestions and tips!

speedy19 · September 2016

dmcc224 said:

Washed and waxed! Figured Id post a pic or two. Thanks for the good advice everybody, I feel like I did well for my first new car purchase!

What wax did you use? I need to get some of that

henryn · September 2016

Whether to spend $700 or $800 more for the 2017 is very much a personal decision. I would spend the extra myself, but I fully understand those who wouldn't. Either way, you're getting a very good deal on a very nice car, so congratulations!

dmcc224 · September 2016

speedy19 said:

What wax did you use? I need to get some of that

Just turtle wax, paste not the spray.

dmcc224 · September 2016

speedy19 said:

What wax did you use? I need to get some of that

Just turtle wax paste

dmcc224 · September 2016

henryn said:
Whether to spend $700 or $800 more for the 2017 is very much a personal decision. I would spend the extra myself, but I fully understand those who wouldn't. Either way, you're getting a very good deal on a very nice car, so congratulations!

Having gone with a 2016 myself, In my mind there were two considerations;

When was it manufactured, basically has it sat in the weather for 12 months?

How long do I intend to keep it?

If I keep it 6+ years then the 1 year model difference won't matter much in terms of trade/resale value, especially since the model years are identical.

Just my thoughts....

brian125 · September 2016

Unfortunately if you bought the newer model 2017 then sold it 6 plus years later you would be able to get $2500 maybe more on the resale value plus you would drive a 2017 model 3 1/2 months in 2016.

The other thing to always consider between two model years at this time is..... If the 2016 model is totaled or stolen in its 1st year the depreciation on Jan, 1st, 2017 will reflect that and not so much on the 2017 model. On jan,1, 2017 your 2016 model is consider a 1 year old model to all Ins. companies.

I always tell buyers to consider both options before buying. As for Me I would go for the 2017 model every time if my savings is under 1k.

dmcc224 · September 2016

Good points...

Im really surprised that 6 years down the line the difference would be over $2500 more?

Edit;

I priced an Accord LX 08 vs 09 both with 75,000 miles and in Good shape. The trade-in value difference was about $100 KBB.

brian125 · September 2016

So all you guys buying 2016 Accords at 2500 below invoice plus are making that depreciation factor a wash on Jan,1st

brian125 · September 2016

dmcc224 said:
Good points...

Im really surprised that 6 years down the line the difference would be over $2500 more?

Edit;

I priced an Accord LX 08 vs 09 both with 75,000 miles and in Good shape. The trade-in value difference was about $100 KBB.

100 dollar diff. That cant be correct. The 1st 3ys are when vehicles depreciate the most.

dmcc224 · September 2016

I was saying a 2008 vs 2009 accord with the same condition/mileage has 100$ trade-in difference on KBB. I picked those years because the 2009 and 2008 are the same car just like the 2017 and 2016 are the same car. If you compare a refresh to a previous accord there will be a significant gap in value (like the 2008 vs 2007).

I was just making the point that if you are purchasing a new 2016/2017 and don't trade-in after a few years then you will see little benefit in trade value for opting for the 2017, since its the same car. 2018 vs 2017 will be a different story since it'll be a new model.

stever · September 2016

Our True Cost to Own tool will let you compare the deprecation hit for 5 years out. It's a bit too early for us to have to have 2017 numbers yet.

That said, depreciation is a scary number, even for Hondas, so you may not want to look.

dmcc224 · September 2016

Well I just checked it out, I have an EX-L V6 2016... It assumes I paid 30,500 and its 5500 depreciation year 1.

I followed Brian's advice and bought on the 31st for 25,300. I only eat 300 depreciation year 1

. Not so scary lol, but year 2 ain't pretty.

2016 Honda Accord Prices Paid and Buying Experience

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