Last post on May 21, 2013 at 4:55 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Honda Accord, Coupe, Sedan
#19818 of 29559 Re: Need Help Purchasing 08 Accord V6 with Nav sedan [googooly]
Mar 19, 2008 (1:18 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 29559 Re: EX-L Auto 4 Cylinders [raduilie]
Mar 19, 2008 (1:27 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 29559 Re: EX-L Auto 4 Cylinders [jaxs1]
Mar 19, 2008 (1:39 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 29559 Re: EX-L Auto 4 Cylinders [raduilie]
Mar 19, 2008 (3:20 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 29559 Re: EX-L Auto 4 Cylinders [jaxs1]
Mar 19, 2008 (3:25 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 29559 Re: EX-L Auto 4 Cylinders [raduilie]
Mar 19, 2008 (3:43 pm)
NICE WORK!!!!!! That is an absolutely unbelievable deal!!
#19824 of 29559 Re: EX-L Auto 4 Cylinders [dwynne]
Mar 19, 2008 (3:58 pm)
The dealer cannot be stuck if they verify by phone or electronically that it's a valid check for a pre-approved loan. Or they can use the either/or loan contract as a backup rather than saying, "You must take the financing we provide or else we'll make you wait three days for the auto loan check to clear before you can take the car home."
People do this every day. There are various alternatives as long as you buy the car during normal business hours (even Saturdays before the credit union phone line closes).
A personal check can also bounce or be a fake check.
Banks can electronically transfer funds to the dealer's account with no paper check at all.
#19825 of 29559 Re: EX-L Auto 4 Cylinders [dwynne]
Mar 19, 2008 (6:58 pm)
Got a call back from Herb Chambers today. Before I got to tell them that I already bought the car, they said that there is a $1,000 incentive on the Accord from Honda. Didn't get into details: if it's national or regional, cash to customer or cash to dealer etc.
#19826 of 29559 Re: EX-L Auto 4 Cylinders [dwynne]
Mar 19, 2008 (7:02 pm)
My credit union will not open the loan (give me the money) until I have a purchase and sale contract with the VIN of the car, signed by the dealer. What they gave me was a "treasurer auto loan check". Practically a blank check good for up to $25k, good only to buy a new car from a dealer.I used one in the past without problems but it was during business hours. This time it was 7PM and I had no desire to drive again 60 miles to the dealer.
Mar 19, 2008 (8:07 pm)
I have been given a quote of $28,313 + $368 Doc fee, +$35 for a 90 day temp tag for a 08 EXL V6 4dr w/Nav. It comes with Splash guards and Window tent. I'm asking to have the Spoiler put on for $600. I think this is a reasonable deal, not the best but good, it is in Basque Red which has been difficult for me to find. I have a little bit of a rub in buying from the dealer in Tempe as they sprang on me a required sales tax of 5.6%, a 1.8% city tax & a .7% county tax. I live in Idaho (we have a 6% sales tax) and feel like thats all i should be payiing. Any help here on the tax case?
I just happen to be coming through Phoenix on a trip which has put me in the city already and i'm willing to drive it back to Idaho but not sure i should have to pay the extra 2.1% difference (about $600). anyone with insights on this? I'm not scheduled to pick it up till the 28th of this month.