2016 Honda Accord Prices Paid and Buying Experience

brian125 · December 2016

stirfried said:
hi, looking to getting a 2016 accord sedan ex in la county(9% tax I believe). Is 24k otd too optimistic? was hoping to keep it under 25k. im open for a 2017 if its still in the 25k range since 2016s are near extinct nowadays. also, what should i expect financing apr on good credit to be? appreciate any feedback!

In LA area / 100 miles radius you should target 3000 below your models invoice price then add taxes and fee's. I'd bet if you really negotiate hard at the end of the month you could be in the 3k to $3500 below invoice price range.

$2500 below invoice price on any model 2017 is the Norm in your area.

stever · December 2016

stirfried said:
hi, looking to getting a 2016 accord sedan ex in la county(9% tax I believe). Is 24k otd too optimistic? was hoping to keep it under 25k. im open for a 2017 if its still in the 25k range since 2016s are near extinct nowadays. also, what should i expect financing apr on good credit to be? appreciate any feedback!

Low supply may tighten prices a bit, hard to say. Counter-intuitive though, especially with the end of the year fast approaching.

Invoice is $24,971, MSRP is $27,215 and TMV for LA is $24,040. So TMV is about $900 off invoice and about 12% below MSRP.

$24k out the door would be around 20% off MSRP and around $3,000 off invoice. I don't think that's realistic unless you catch a dealer needing one last sale at year end to make quota. But sometimes we see that.

$25k OTD would mean a selling price of ~$22,750, so around $2,200 off invoice. Guess I'd hope for $24,500
OTD and try to play the calendar.

TMV for a 2017 EX is $24,969, about $150 below invoice. You might get one of those down close to $1,000 below invoice.

Don't want to upsell you, but if the difference winds up being around $1,500, then you may want to find a few extra bucks in your shoe and spring for the latest and greatest.

stever · December 2016

Check out this post - $2,000 plus off invoice may be doable in some parts of the US. Cali shouldn't be too far behind NJ.

pflyers23 · December 2016

Just got a price of $24,600 for a 2016 ex-l in So. California

stirfried · December 2016

thank you brian125 and stever!

I'll probably visit a local dealership and gauge how much they want from me. Should I expect 0.9%APR 24-60mo with good credit?

stever · December 2016

Yeah, there's a 0.9% incentive out there. Cheap.

blackbimmer1 · January 2017

Please evaluate my deal below on 2017 Honda Accord - EX-L. I am in Dallas, TX.

MSRP: $29,655
Dealer Accessories: $1,600 (dealer can't remove these). All Dallas dealers have these accessories
Final Sale Price including accessories: $26,250
Trade-in value: $8,200 (For 2009 Honda Civic, only 16K miles, Good condition)
------------------------------------------------------------------------------------------------------------------
Net price after trade: $18,050 + TTL

stever · January 2017

Doesn't matter whether the dealer can remove the accessories or not. You don't have to pay for them. You may have to buy a CX-5 though unless you are willing to travel further.

They typically put $1,495 mop and glow packages on the new cars here in Las Cruces. I've gotten quotes from a lot of different dealers for two years now and none have balked at removing that profit center when coming up with a price.

Ah, a New Year's Day rant - I'm off to a good start.

$26,250 is about 11% off MSRP. Not too shabby. But guess what - the True Market Value average price paid for your area is 26,320 (including destination).

So your quote is just average. You're here, you're researching, you're shopping dealers. You should be able to beat the average.

Your trade-in value seems good, but I just guessed. You can dial in the book number better at this link. And I'd recommend that you swing by a CarMax and get a quote. If it's exceptionally good, then you can ask the dealer to match the price or just sell it to CarMax.

A better target to me would be 14 to 15% off MSRP or $25,200 to $25,500. And I'd just focus on the out the door number - if they mention all the great accessories, just say they have no value to you.

Maybe try Houston for quotes too?

phutball · January 2017

So i was offered 2017 Accord LX for $21000 OTD and 2016 Accord LX w/Sensing 21500 at a DC area dealer. Should i go ahead?

houtxbuyer · January 2017

Brian125 / Stever,

first off, thanks for doing the thankless.. I consider myself a better than average car buyer/skilled negotiator and I still learn / refine my approach based on your posts

I'm having to part ways with my 12 year old accord / 82k miles / perfect condition... painful, but I'm either looking to pickup a 2016 accord closeout (assuming I'm not too late at this point , cars are still there, just not sure about the deals) or possibly 2017.. or perhaps push my wife's patience and try to get a 2017 in fall of 2017 when the 2018's roll out (ill advised).

any advice on the starting point (2016 or 2017 or have I already missed the better deals on 2016's)? or where you have seen the better deal history, pricing trends..

I will be holding on this car 10 years ... would have loved to keep holding onto the current one, but a coupe and kids doesn't work , or so I told

stever said:

Maybe try Houston for quotes too?

are you recommending Houston due to oil prices / layoffs, or has there been good deal history? I'm buying in that market..

brian125 said:
Buy the 2017 model

are you recommending 2017's as better value hold?

brian125 · January 2017

houtxbuyer

Here is the pricing I would be targeting... then considering year, model, and color.

Your area $3000 plus below invoice price on any 2016 Accord model. You need a deal to compensate the depreciation costs on a 1 year model vehicle in the event its totaled or stolen the 1st couple of years.

$1800 to 2500 below invoice on any 17 model . This price depends on time of month, dealer inventory, and negotiating skills.

Dealers with limited 16 model on lots might not want to give you that wow deal knowing they could sucker a walk in sale. If your buying last 2 days, last day that would give you the best shot at that wow deal.

If I'm buying a 16 model $3500 below invoice is my bottom number to buy.

houtxbuyer · January 2017

brian125 said:
houtxbuyer

Here is the pricing I would be targeting... then considering year, model, and color.

Your area $3000 plus below invoice price on any 2016 Accord model. You need a deal to compensate the depreciation costs on a 1 year model vehicle in the event its totaled or stolen the 1st couple of years.

$1800 to 2500 below invoice on any 17 model . This price depends on time of month, dealer inventory, and negotiating skills.

Dealers with limited 16 model on lots might not want to give you that wow deal knowing they could sucker a walk in sale. If your buying last 2 days, last day that would give you the best shot at that wow deal.

If I'm buying a 16 model $3500 below invoice is my bottom number to buy.

Thank you for the informed reply.. rephrasing to make sure I am understanding correctly.

With 2017's already at $1800 to 2500 below invoice, I would need to get a 2016 at an additional $1000 below that on invoice ($3500 below), to make up for the one year value / depreciation difference. In other words, all else equal (mileage same) a 2017 is worth $1k more than the same 2016.

This is a really good insight.. as I had always been indifferent in models (in same generation) that I'm holding 10+ years, but in case life happens ,.. this is a better perspective

do you see any benefit to waiting for the Accord Gen 10 / Gen 9 changeover in the end of 2017.. or does generation turnover not really equate to meaningful additional model close out savings (relative to the normal closing out last years model savings)

brian125 · January 2017

houtxbuyer

2018 new Gen model's pricing at dealerships may start at full sticker and only going $500 to 1000 below that for the 1st quarter ( end of march ). like Honda does with a new Pilot or Civic . No advantage unless you like / want new style or upgraded features. Year end model or outgoing models will be heavily discounted ( 2017 ).

You said : With 2017's already at $1800 to 2500 below invoice, I would need to get a 2016 at an additional $1000 below that on invoice ($3500 below), to make up for the one year value / depreciation difference. In other words, all else equal (mileage same) a 2017 is worth $1k more than the same 2016.

Answer..... A 1 yr. depreciation on a 2016 Accord is close to if not more than 4k. If you could get thru the 1st yr. 2017 with out Totaling or it Stolen your investment will start to even out with each passing year. A stolen or totaled vehicle also takes the INS deductible hit off $500 or $1000 depending on your coverage . You keep cars for 10 yrs so after the 3rd year going forward the depreciation value has evened out . Just something to keep in mind with buying any new yr. old model. A Hyundai, Kia or GM vehicle's depreciation could be $5000 plus the 1st yr.

2017 Accords are selling for $1500 to 3000 below invoice price depending on your area. Factory incentives to dealers / consumers are why... 2016 models bought this yr are bought with knowledge of how much depreciation value has occurred and not so much thinking there's a 1000 dollar difference between years.

Example : I bought my 2013 R-Spec Genesis sticker price was 49k. On Nov, 30th I bought the Genesis for @39k. From Jan 2013 to July this vehicle sold at around 44k to 42k across the country. That same vehicle selling in Jan 2014 probably sold another 1k plus lower than my buying price @39k. Terrible deprecation = a great deal.

If the Honda corp. was not giving incentives and rebates on the 2017 models and sold Accords at invoice price you still need a $3000 plus below invoice price to justify or counter the 1 yr. depreciation cost.

Hope this helped.

houtxbuyer · January 2017

brian125 said:
houtxbuyer

2018 new Gen model's pricing at dealerships may start at full sticker and only going $500 to 1000 below that for the 1st quarter ( end of march ). like Honda does with a new Pilot or Civic . No advantage unless you like / want new style or upgraded features. Year end model or outgoing models will be heavily discounted ( 2017 ).

You said : With 2017's already at $1800 to 2500 below invoice, I would need to get a 2016 at an additional $1000 below that on invoice ($3500 below), to make up for the one year value / depreciation difference. In other words, all else equal (mileage same) a 2017 is worth $1k more than the same 2016.

Answer..... A 1 yr. depreciation on a 2016 Accord is close to if not more than 4k. If you could get thru the 1st yr. 2017 with out Totaling or it Stolen your investment will start to even out with each passing year. A stolen or totaled vehicle also takes the INS deductible hit off $500 or $1000 depending on your coverage . You keep cars for 10 yrs so after the 3rd year going forward the depreciation value has evened out . Just something to keep in mind with buying any new yr. old model. A Hyundai, Kia or GM vehicle's depreciation could be $5000 plus the 1st yr.

2017 Accords are selling for $1500 to 3000 below invoice price depending on your area. Factory incentives to dealers / consumers are why... 2016 models bought this yr are bought with knowledge of how much depreciation value has occurred and not so much thinking there's a 1000 dollar difference between years.

Example : I bought my 2013 R-Spec Genesis sticker price was 49k. On Nov, 30th I bought the Genesis for @39k. From Jan 2013 to July this vehicle sold at around 44k to 42k across the country. That same vehicle selling in Jan 2014 probably sold another 1k plus lower than my buying price @39k. Terrible deprecation = a great deal.

If the Honda corp. was not giving incentives and rebates on the 2017 models and sold Accords at invoice price you still need a $3000 plus below invoice price to justify or counter the 1 yr. depreciation cost.

Hope this helped.

brian, thanks again. Here I was thinking I am smarter than the average car buyer and I wasn't taking this into consideration in my analysis...

so thank you for laying out that analysis.. As a person who is purely a utility of transport buyer (10 year holder), I had never thought about depreciation difference in last year's model vs this years model, to the level of total indifference - an oversight on my part.

At the risk of pushing my luck. (do you accept donations for consulting services?) I am trying to decide between 2 options

1) buy a 2017 now (at $2.5K or better below invoice) ... assuming I can't find a 2016 at $3.5K or better below invoice

OR

2) wait till Oct/Nov/Dec of 2017 and buy a 2017, once the Gen 10, 2018's roll out.

How would you go about thinking about the above scenario?

How much of a discount would have to see with option 2 to warrant taking the 2017 and the added year of depreciation?

My thoughts.

This analysis requires major assumptions on what Honda will be doing dealer incentive wise at the end of the year.

And as you stated, major assumptions on the level of 2018 discounting (relative to invoice) when those first roll out.

Lastly, I would need determine what is the utility of having the new car now, vs waiting 9-10 months from now.

brian125 · January 2017

Not many Honda dealers especially in your area will sell a 2016 model or 17 in that same year of oct, nov, dec for more than 3k below invoice until its over a 1 year old model. . If you ready to buy now price check the 16 to 17's . If your not ready now price check using the same math and logic for a 17 model compared to a 18 model.

I like scenario 1 that's your best deal ....... unless you like the 2018 new model look better, and are willing to pay a higher premium then scenario #1.

sk032013 · January 2017

I am in North California, Can anyone please share OTD price you paid for Honda Accord LX CVT with Honda sensing.

ursnirmalt · January 2017

2017 Accord EX w/Sensing what would be Vehicle price with destination in NJ? I am targeting 23K not sure I can make it

john4545 · March 2017

brian125

Great advice in these forums. I read thru a lot of your buying tips and advice. I IM your page. Sorry for all the questions . My sister lives in PA. what Honda dealers do you recommend in DE, PA. Any info or experience with Anderson Honda?

brian125 · March 2017

dean70 said:
brian125

Great advice in these forums. I read thru a lot of your buying tips and advice. I IM your page. Sorry for all the questions . My sister lives in PA. what Honda dealers do you recommend in DE, PA. Any info or experience with Anderson Honda?

Stay away from Anderson Honda a lot of there cars have added accessories and packages that add up.

These are the best dealers in PA...email / call all of them for pricing make your best deal march 30 or 31st

Preston, Scott, Apple , Keenan, Baierl,, Motor world.. check out Sloane Honda if your near Philly.

pikeman1 · May 2017

Hey Edmunds members.

I just traded in my 2014 Accord Couple LX-S w/ 8k miles for a new 2017 Accord Sports. Trade in value for my Coupe was $15,500. MSRP on New car was $24,515 (according to the windows Sticker).
So basically I gave them keys for my coupe and paid + $7000 for a new 2017 Accord Sports. I did not pay for anything else.

Was this a decent deal or I paid too much for Missouri? I wish I had more time to research. Since I did not finance through Honda, I was not eligible for Military Discount.

Thank You.

kyfdx · May 2017

pikeman1 said:
Hey Edmunds members.

I just traded in my 2014 Accord Couple LX-S w/ 8k miles for a new 2017 Accord Sports. Trade in value for my Coupe was $15,500. MSRP on New car was $24,515 (according to the windows Sticker).
So basically I gave them keys for my coupe and paid + $7000 for a new 2017 Accord Sports. I did not pay for anything else.

Was this a decent deal or I paid too much for Missouri? I wish I had more time to research. Since I did not finance through Honda, I was not eligible for Military Discount.

Thank You.

Hi, you might want to re-post in the 2017 discussion, here:
https://forums.edmunds.com/discussion/42361/honda/accord/2017-honda-accord-prices-paid-and-buying-experience#latest

pikeman1 · May 2017

kyfdx said:

pikeman1 said:
Hey Edmunds members.

I just traded in my 2014 Accord Couple LX-S w/ 8k miles for a new 2017 Accord Sports. Trade in value for my Coupe was $15,500. MSRP on New car was $24,515 (according to the windows Sticker).
So basically I gave them keys for my coupe and paid + $7000 for a new 2017 Accord Sports. I did not pay for anything else.

Was this a decent deal or I paid too much for Missouri? I wish I had more time to research. Since I did not finance through Honda, I was not eligible for Military Discount.

Thank You.
Hi, you might want to re-post in the 2017 discussion, here:
https://forums.edmunds.com/discussion/42361/honda/accord/2017-honda-accord-prices-paid-and-buying-experience#latest

Thank You.

brian125 · May 2017

pikeman1 said:
Hey Edmunds members.

I just traded in my 2014 Accord Couple LX-S w/ 8k miles for a new 2017 Accord Sports. Trade in value for my Coupe was $15,500. MSRP on New car was $24,515 (according to the windows Sticker).
So basically I gave them keys for my coupe and paid + $7000 for a new 2017 Accord Sports. I did not pay for anything else.

Was this a decent deal or I paid too much for Missouri? I wish I had more time to research. Since I did not finance through Honda, I was not eligible for Military Discount.

Thank You.

You got out of your Coupe and have what u want Accord sport . Didn't have to wait 2 or 3 months to sell vehicle. You lost on your Trade in but you Recouped with the Trade in Thus saving paying tax on $15,550 out of the 24k new car price.

GOOD LUCK

maxscars · June 2017

Just purchased a 2016 new Accord Lx with Sensing for $19400 in Northeast ($21000 OTD). Only a few were left on the lot. Last night I thought Id give the end of the month a shot rather than wait till the weekend, and they were okay with the offer. It's pretty consistent with what Brian was saying about being below invoice. I probably could have "stood up" for a couple hundred more off but they saw me smile at an attractive counter offer (#3 or 4, probably their penultimate) with a good sales line, so I took it to not feel like a jerk (and because I was okay with it, of course). Regardless I'm happy with the deal and feel like both parties ended up with a favorable outcome.

brian125 · June 2017

maxscars said:
Just purchased a 2016 new Accord Lx with Sensing for $19400 in Northeast ($21000 OTD). Only a few were left on the lot. Last night I thought Id give the end of the month a shot rather than wait till the weekend, and they were okay with the offer. It's pretty consistent with what Brian was saying about being below invoice. I probably could have "stood up" for a couple hundred more off but they saw me smile at an attractive counter offer (#3 or 4, probably their penultimate) with a good sales line, so I took it to not feel like a jerk (and because I was okay with it, of course). Regardless I'm happy with the deal and feel like both parties ended up with a favorable outcome.

You did well @maxscars

What dealership did you buy at ? what was dealerships doc fee charge?/

Good luck............enjoy your new Accord

maxscars · June 2017

brian125 said:

You did well @maxscars

What dealership did you buy at ? what was dealerships doc fee charge?/

Good luck............enjoy your new Accord

Dealership was Herb Chambers. The dealership doc fee was 350, but I was only negotiating OTD price because of my budget restriction (which seemed to line up okay with your suggestion for reasonable pricing). Also, I'm not savvy enough to get into negotiating minutia in the back room with a finance guy. The sales manager tried to get into car price, monthly payment, etc, but I would only discuss OTD. When I saw the doc fee and a couple other things on the final invoice, I thought I may have been able to get more off. That said, I paid a price I was willing to pay OTD, so negotiating at that point over reverse-engineered items on the invoice would have been disingenuous.

The car is fantastic. It feels more expensive than it is at normal driving speeds, looks handsome, and I anticipate that it will serve us reliably for several years to come.

2016 Honda Accord Prices Paid and Buying Experience

Comments

Helpful Tools

Most popular vehicles