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Honda Civic Prices Paid and Buying Experience

9207 messages,  Last post on Nov 30, 2009 at 2:38 PM

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What is this discussion about? Honda Civic CRX, Honda Civic, Honda Civic del Sol, Coupe, Hatchback, Sedan

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#725 of 9207 2004 Civic Sedan EX by jaxs Dec 17, 2003 (11:57 am)
I am about to buy my first car, but I am not too great at this negotiation part. I got offered 16,652 as the sales price for an 04 EX Civic. I can't get them to budge and haven't found a better deal at other dealerships around Tulsa. Anyone have any suggestions?
#726 of 9207 Re Civic EX jaxs by bd21 Dec 17, 2003 (4:28 pm)
You need to spell out what the price quote was for i. e. automatic, side air bags, etc. If that price is for an automatic, write a check because that is way under invoice.
#727 of 9207 jaxs by dudka Dec 18, 2003 (7:53 am)
Like bd21 mentioned is it auto or manual, 2 door or 4 door, side air bags or not, options?   Use Edmund's TMV for the exact car you are purchasing.
#728 of 9207 Civic EX by jaxs Dec 18, 2003 (8:04 am)
Sorry about the specifics! Its for a 4-door automatic sedan with side airbags. No additional options, just sunroof/moonroof, factory cd, floormats, cargonet. Its also the magnesium metallic color.
#729 of 9207 Civic Ex 2004 by jaxs Dec 18, 2003 (8:09 am)
I guess what I am really wondering is if the invoice price listed on Edmunds is actually what the dealer paid for it, or is it a price they use for negotiations purposes? They told me the car is priced at $199 over net, but what does that mean? Or where should I look for that information? I appreciate any advice.
#730 of 9207 ReCivic Ex 2004 price/ jaxs by bd21 Dec 18, 2003 (11:33 am)
The price you are quoting is less than the dealer paid for the car, so I think you may not have the correct figure for the car. Edmunds' prices are correct and are as follows: 2004 Civic EX 4-door, automatic with side air bags invoice is $16,732, plus an additional $490 for shipping. There is a 3% dealer holdback on the base price of the car only, but not on the shipping. It is extremly rare for the dealer to let a car go at invoice including shipping or less. Plus you have to add shipping, which you have to pay no matter what which is $490. If the dealer simply gave you the car as it was dropped off the delivery truck, it would have cost them $16,720.04. So if the dealer didn't want to pay for any of his overhead and was hell-bent on going out of business, he only lost $68.04 by selling you this car for the $16,652 that you say he quoted you. Like I said, run back there as fast as possible and write a check, but I kind of doubt your numbers will match up when you go back there. Keep us posted, you have our attention.
#731 of 9207 My '04 Civic EX Auto purchase... by miester_v Dec 18, 2003 (11:58 am)
Well, I recently made a purchase of a brand new 2004 Honda Civic EX coupe with AT for a purchase price of $16,581 including destination and documentation charge. Is that a good deal?   However, it doesn't really matter overall because we got a APR of 9.0 and we got scammed into purchasing a $1500 warranty for Honda Care which was not verbally or visually disclosed to us. But we can always cancel the warranty and get that amount subtracted from the finance amount. Once that happens, I should be pretty satisfied with the amount that we've paid. Just for reference, we paid $7000 down and we have a credit score of 540. I hope our APR wasn't too inflated, if at all.
#732 of 9207 by anonymousposts Dec 18, 2003 (4:05 pm)
540 isn't that great of a credit rating so 9.0% isn't terrible. However, pay on the car for about a year and then try to refinance it through your credit union or bank at a lower rate. My credit union was going as low as 3.4% up to 60 months on any 2001-2004 just a few months ago.
#733 of 9207 Re My '04 Civic EX Auto purchase/miester_v by bd21 Dec 18, 2003 (6:11 pm)
As your deal stands, you definetly overpaid. You have to look at the whole deal and I'm lost on how you signed paperwork without knowing that you paid for an extended warranty. Personally, knowing cars and Hondas well, I would never purchase an extended warranty. The odds of you ever needing it are extremely rare, but if you can't sleep without one, it can be purchased from any Honda dealer nationwide. The going rate is less than a $1000 for a zero deductible 7year/100,000 mile warranty. As far as financing rates go the credit unions in my area run 3.9 to 5.6%, so Honda got you on the interest rate and warranty. If you can drop the warranty and refinance the car for under 6 percent, than you have a reasonable deal. Honda still has 2.9% financing, so with $7000 down, I'm surprised they would not finance you. You must have some credit issues that hurt you pretty bad. Next time bring your approved financing with you, so you don't get caught off guard. Also, bring a calculator and figure out what your payment should be. Letting the dealer crunch the numbers leaves you wide open for a chance to slip something unexpected in. The invoice including shipping on your car is $16,629 and you said you paid a little less. However, the reality is you paid almost retail with the warranty overcharge and the high interest rate.
#734 of 9207 As for the credit unions... by miester_v Dec 18, 2003 (7:09 pm)
We've tried our credit union, Capitol One, and Lending Tree, and all of them rejected our application for a loan. So that's the end of that as far as 3rd party finance goes. And as for the APR of 9.0%, yeah it's pretty high no matter what score you have, but we have a sore of 540 and expected rates much higher than 9.0%. If we have the chance, we will try to refinance, as suggested by one previously. But I'm pretty sure we got a good starting point of the purchase, which is the price of the car itself. I do feel pretty good about that, and I doubt that much else would go in our favor after we (surely and easily) cancel the extended warranty.

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