Last post on Nov 28, 2013 at 10:42 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Coupe, Sedan
#19814 of 32125 Re: EX-L Auto 4 Cylinders [bug4]
Mar 19, 2008 (11:53 am)
They simply honored their ad from the Sunday Boston Globe. The ad stated "$21,888 for EVERY 2008 Accord EX-L in stock". The destination fee was (as expected) not included in the ad price. So $21,888 + $635 = $22,523.
I did call other dealers to see if I can get something similar, because Boch Honda is about 60 miles from my house. The closest price was from Herb Chambers in Boston at $23,145. Their doc fee was also a bit higher, at $379.
I was fully prepared to walk out of their dealership if they didn't honor that ad. But they did. I did have a trade, but we started talking about it after we established the price on the new car (I know the rules...). The trade was a 1999 Toyota Camry with 140k miles, condition too poor for kbb.com to give me an online appraisal.
And they also matched my credit union for the interest rate, 5.2% for 60 months with Chase.
#19815 of 32125 Re: EX-L Auto 4 Cylinders [raduilie]
Mar 19, 2008 (12:01 pm)
If they merely "match" your credit union rate, why not use your credit union anyway? It's just easier to deal with your own bank than signing up for an account with Citibank or any other finance company. One less statement and one less company to deal with for customer service, you can transfer funds between accounts to make payments etc..
It would make more sense if they beat your credit union rate rather than only matching it.
#19816 of 32125 Re: EX-L Auto 4 Cylinders [jaxs1]
Mar 19, 2008 (12:05 pm)
Because the credit union gave me what they call a "auto-loan check". Not a cashiers check. The dealer said if they take that "auto-loan check" they will have to wait a couple of days for it to clear. I didn't want to come back after 2-3 days to pick up the car, I wanted to do spot delivery. And I didn't feel like arguing with them because I fully expect the rates to go down even further. At which point I intend to re-finance with the credit union. It's DCU btw, great credit union. If I have the original loan from them, I cannot refinance when the rates go down. But if the loan is with Chase and the rate goes down 1 point in 6 months, I can re-finance. Their rates are great if the car is very new.
#19817 of 32125 Re: Accord Price Chicago Area [dwynne]
Mar 19, 2008 (12:13 pm)
Thanks and know what you mean about future value. I do tend to keep cars for at least 5-8 yrs. Mainly because I do a lot of research beforehand. I like aspects about each of the mentioned cars and am now looking at prices. I realize the resale on Honda is unmatched but also can get something very similar from Mazda or Hyundai for 4-5000 less. The future value of that money saved upfront must be considered as well. I think over the length of time I am looking at, I am going to get the vehicle I really like as the 5yr or more ownership cost is probably going to be within 10% of each other.
#19818 of 32125 Re: Need Help Purchasing 08 Accord V6 with Nav sedan [googooly]
Mar 19, 2008 (12:18 pm)
You got a good price but too bad you had to waste time doing some serious negotiating with the dealer. I paid $25615 + tax and tags of an EX-L V6 without Navigation which was a little less then $2000. So my price was just about the equal to yours. I took delivery on 27 DEC 07.
Another item I bought was the 8 year 120,000 mile non-deductible Honda Care Warranty. I had located a Honda dealer in Rhode Island on the INTERNET who was selling that warranty for $995. I just did a search on EXTENDED CAR WARRANTY.
When closing the deal at my dealer in Baltimore I asked about the HONDA CARE Warranty. Initially the salesman pulled up a chart with various milages for both the $100 deductible and the non-deductible plans. His initial price for the plan I got was $1999.95. When I show him the printout from the RI Honda Dealer he said WOW that $995 was my dealer's cost. Almost immediately he came down to $1095 which I took. I intend to keep the car well beyond 120,000 miles.
If any here keep their cars long time it might be worth it to check out the Honda Care plan.
#19819 of 32125 Re: EX-L Auto 4 Cylinders [raduilie]
Mar 19, 2008 (12:27 pm)
Sounds like they were lying to get you to take the financing they obtained.
Every dealer I have been to has a way to deal with this without requiring you to wait for 3 days. One way is an "Either Or" contract, where they setup financing that allows you to drive off the lot and get your financing, but if you fail to get your own financing, the car remains on the contract you signed.
There are also other ways to do it especially if you buy the car during the hours your credit union is physically open and the dealer can call to verify the check. Some credit unions have electronic connections to local dealers and they don't even need to call.
However, if you think the rates at your credit union will fall and you will refinance later for the lower rate, what you did could make sense if there isn't a prepayment penalty from the finance company and the loan balance isn't higher than the car's value when you're ready to refinance it.
#19820 of 32125 Re: EX-L Auto 4 Cylinders [jaxs1]
Mar 19, 2008 (12:39 pm)
Here is what I paid last week for a 2008 EX-L Coupe Polished Metal Metalic, 4 Cylinder, auto.
Honda MSRP Price $26,495.00
Destination Charge Included
Internet Sale Price Inc. Coupon -$200 $23,736.33
Documentary Service Fee
Title Fees $25.50
#19821 of 32125 Re: EX-L Auto 4 Cylinders [raduilie]
Mar 19, 2008 (2:20 pm)
Must be some dealer money in your area if they can sell them at that price, Edmunds does not show anything for your area - but they only post what they get so it is not 100% accurate.
How much extra was the dealer's doc or prep fee?
You gotta love these dealers that don't include destination in their ads, by the way.
#19822 of 32125 Re: EX-L Auto 4 Cylinders [jaxs1]
Mar 19, 2008 (2:25 pm)
I have run into similar problems using a "blank check" from CapitalOne. They have two types - one that is good and one that requires approval. The latter is giving out to folks with poor credit and requires the dealer get the deal approved by the bank. When they fail to do so the bank will often not honor the check and the dealer is stuck.
What the credit union should have done is simply deposit the amount required into the buyer's checking account then they just write a check for the new car. Not only is this cool to do it makes things a lot easier.
In the dealers case, being present with a bank "draft" and not a check could mean a delay in getting their money - or not getting it at all. As you said, if the buyer had help firm I am sure they could have worked something out for "just in case" and used the draft. As long as there is no set up fee, simple interest, and no early pay off penalty then it really does not matter.
#19823 of 32125 Re: EX-L Auto 4 Cylinders [raduilie]
Mar 19, 2008 (2:43 pm)
NICE WORK!!!!!! That is an absolutely unbelievable deal!!