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Honda Civic Prices Paid and Buying Experience

9187 messages,  Last post on Nov 09, 2009 at 5:03 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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#731 of 9187 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 9187 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 9187 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 9187 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.
#735 of 9187 bd21... by isellhondas Dec 19, 2003 (6:43 am)
Do you have any idea what a 540 beacon score is?   A 9% rate really isn't that bad considering that!
#736 of 9187 re bd21... by isellhondas by bd21 Dec 19, 2003 (9:22 am)
Yes IS, I know his score is low, but I though his $7,000 down might help him out. I'm one of the lucky ones, I couldn't tell you my score, I have never checked it. The only debt I have is my house and it's halfway paid off on a 15 year 4.9% loan. I make a fair amount of money and I didn't get my first credit card until I was 30. No one would give me one. I'm 44 now and have a 2001 Accord. I getting a 04 Civic in a month or two. I don't like to finance cars long, so I'll put down $10,000 and pay the rest it off within 6 months. The interest rate doesn't really matter because of the number of months I'm working with, but I'll use Honda's 2.9% if it's available or my credit union's 3.9%.
#737 of 9187 Civic EX by jaxs Dec 19, 2003 (8:01 pm)
OK I know I was all about this Civic. BUT I have now found an Accord 2003 Lx 2 door for 16400, 300 miles at Don Carlton in Tulsa. I can't pass this up either. Comments? And yes the civic is still the same price at Mark Roberts in Bartlesville (1st offer as well).
#738 of 9187 buying first honda 04 civic LX by firstcivic1 Dec 21, 2003 (11:05 am)
I ready monday or tuesday to buy a 04 civic Lx automatic. the deal is 14675.00 b4 tax and title and plates bringing it to 16000.00.based on TMV and invoice that was approx 600.00 below invoice that seemed good and another dealer wouldn't go below that. my fico is about 850+ so i think the 2.9 i'll use. my questions is still honda vs hyundai vs toyato corrola i think the honda is the better product?? any thoughts thanks (chicago area purchase)
#739 of 9187 i thought the price was good by firstcivic1 Dec 21, 2003 (3:47 pm)
now i see the 14675 i thought i got them down to advertised in the sunday paper. does anyone think there is still room to go down on a civic 04 LX -a/t ???? i thought it was good.
#740 of 9187 firstcivic by strager Dec 21, 2003 (6:08 pm)
$14765 sounds like a great price. The Civic is definitely more fun to drive than the Corolla and will keep its value better compared to other small cars, imho.   Although Mazda cars depreciate a lot, you may want to check out the new Mazda3, I feel it's a much better car than the Civic, Corolla, or Hyundai. The M3 is also assembled in Japan.

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