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You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Coupe, Sedan
#20318 of 32177 2008 EXL V6 without Navigation
May 05, 2008 (6:10 am)
I've been using this forum to investigate the market on new Accords, so I thought I would post my deal from May 3. I must note it was the last day of the month for this dealership and I was there making the deal in the last hour. I have also bought three new Hondas from them and done all my service work with them.
Bought from Vern Eide in Sioux Falls. $25,500 including the chip guard. From the information I know, that's a few hundred under invoice. I also got this price from a Honda dealer in Minneapolis.
I did have a trade. A 2005 Accord EXL V6 with 141,000 miles. The appraisal was at $9500. We traded for $16,000. I figured either the price on the car was $25,500 or $26,000 if they bumped the appraisal up to $10,000. Either way, I'm very satisfied. I can't believe a car with 141,000 miles can still be worth that much money, but that's why I keep buying Hondas!
#20319 of 32177 Re: 08 Accord EX-L V6 no Nav [jdunnisher]
May 05, 2008 (6:29 am)
It's been nearly a month since you asked me this question so I'm sure this is too late. As you can see, I don't come here often. Too hard on my blood pressure and I simply can't keep up.
But, just in case...What determines what a car will sell for is the prevailing market. What the dealer happened to pay for the car means nothing. A merchant doesn't invest 20 million dollars in a store just so he can sell his goods for what he paid for them.
Some markets have, literally been ruined and So. Calif is a good example of this. It is so dog eat dog that cars sometimes have to be cheap sold. These dealers can and will find other means to stay alive. They may charge outrageous doc. fees ect. these stores have constant turnover and can be miserable places for people to do business.
Accord coupes represent a small percentage of Accord production. As a result, they are in short supply. It is highly unlikely that any dealer would be willing to cheap sell one. In the case of NAVI V-6 coupes, they are so scarce that it's been months since I have seen one.
Holdback isn't 3% it is 2% and it ***helps*** pay a portion of flooring. It is not bottom line profit. Far from it. Most dealers will quickly lose interest if you bring this up and your salesperson may just give you an idea of the MASSIVE overhead that we pay every month just to open the doors.
Lastly, your trade in is a seperate issue.Some customers will tell us about how we will be making so much money on their trade in. Well, maybe, maybe not. A trade in is only worth as much as the dealer can buy one for at the local auction and nothing more. If it isundesirable trade in, the dealer may not want it at all despite what all of the "books" say it is worth. The big SUVS and cars that use a lot of gas are dead in the water right now. The people that we usually call either don't want them or they hit us thousand of dollars "back of book"
In the case of your RSX, there a lot of these on the market right now. They are great cars, but they were never big sellers. in 2005, Acura leased a bunch of these that are now hitting the auctions in big numbers.
Anyway, I'm sorry for the slow response. At this point you are probably driving your new car!
And, I hope I didn't offend anyone. Not my intension. Just trying to explain the realities of the marketplace. A market that seems to change daily sometimes.
#20320 of 32177 Price Paid for 2008 EX-L I4 w/o Nav
May 05, 2008 (6:40 am)
I just finalized the deal on a 2008 EX-L i4 in Polished Metal Metalic w/o Nav. No Trade in. Dealer in Buffalo, NY suburb. Got qoutes from three other dealers in town and 2 would not go below invoice, one offered $150 below, the other, the one I bought from gave me $200 below and was less expensive on the accessories.
Car- $23862 (Includes Destination of $635)
Wing Spoiler- $545
Cargo Net- $127
Sales Tax (8.75%, Damned Erie County New YorK!!!)- $2146
Document fee- $45
Inspection Fee- $10
Tire Tax- $12.50
Total OTD for car- $26,748
Financed about 11k at 0.9% for 36 Months.
#20321 of 32177 Re: 2008 Honda Accord LX A/T [tracemiller]
May 05, 2008 (7:14 am)
Shouldn't we benefit all readers by posting details on the public post? Thanks.
#20322 of 32177 Re: Price Paid for 2008 EX-L I4 w/o Nav [theesir]
May 05, 2008 (7:22 am)
This may make you feel better.
In the Seattle area sales tax on cars is 9.3% !
But we don't have any "inspection fees" - What is that?
And no "tire taxes" Again...???
#20323 of 32177 Re: 08 Accord EX-L V6 no Nav [isellhondas]
May 05, 2008 (7:33 am)
Your honesty is appreciated. I'd rather be an educated buyer than one who is overconfident with incorrect information. As far as the holdback amount, the 3% figure is one I got right here on edmunds.com.
It lists Honda as 3% of the Base MSRP. So, I'm not sure why there is a discrepancy.
Anyways, your post was not too late. I am still driving the RSX, as I have been unable to find a deal here in AZ on a Coupe that I've found suitable. The quotes I've received for a 5-speed manual EX Coupe have been about $1,000 over invoice in many cases. Coupled with high doc fees in the area (usually close to $400) and the less than stellar lease rates on Accords right now, I just haven't been inclined to pull the trigger.
I've never had a single issue with my Acura, it still has low miles and is a sporty car, so I haven't been in a real hurry to make a move. If I do finally decide to ramp up my search, I believe I'll expand to So. Cal dealers since the 4-5 hour drive would be worth the extra savings to me.
Thanks again for the info.
#20324 of 32177 Re: 08 Accord EX-L V6 no Nav [jdunnisher]
May 05, 2008 (7:58 am)
Holdback dropped to 2% some time back and it appears Edmunds hasn't made the correction.
Again, it isn't bottom line profit, far from it.
I know I rambled, but my point was simply that the prevailing market is what determines pricing. Not just on cars but on most commodity items. I honestly think that some people focus more on how much profit a dealer may be making than on the VALUE of the car to them.
1000.00 over invoice on a short supply car really isn't a bad deal at all.
Would it be really worth it to you to drive to California to maybe save a few hundred dollars? I'm sure your Acura is in great shape but do remember that every month when a new book comes out, it drops in value.
The fact that you want a 5 speed could help you. These aren't nearly as popular as the automatics are and as a result, a dealer who is sitting on a couple of them may be willing to do a cheap deal.
But then remember that cars that are hard to sell as new cars are even harder to sell later as used cars. If you are leasing, it guess it doesn't matter.
That 400.00 doc fee is nuts. We charge 50.00.
#20325 of 32177 Re: Price Paid for 2008 EX-L I4 w/o Nav [isellhondas]
May 05, 2008 (9:14 am)
In NYS, cars must receive a safety/emissions inspection yearly. This applies to any car being registered as well. So if I bought this car today, got it inspected and registered and then sold it to you tomorrow, you would have to get the car inspected again before you could register the car.
Tire Tax is 2.50 per tire for each new tire sold in NY (4 on car plus the spare, thus $12.50). This is a tax being used to help finance the cost of waste tire disposal or something like that. In reality its just another way to add a fee to everything we do in this state.
#20326 of 32177 Re: Price Paid for 2008 EX-L I4 w/o Nav [theesir]
May 05, 2008 (9:19 am)
I can understand a required inspection on USED cars, but on a brand NEW car, that sounds nuts!
#20327 of 32177 Re: Price Paid for 2008 EX-L I4 w/o Nav [isellhondas]
May 05, 2008 (9:24 am)
You have to have the sticker to register, so they charge the fee. I do believe $10 is the minimum fee. When you are getting your annual inspection, most places charge about $20.