Last post on Dec 04, 2013 at 12:20 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Honda Accord, Coupe, Sedan
#21515 of 32163 Re: 2008 Accord LX-P automatic [mplshondadlr]
Aug 01, 2008 (1:52 pm)
'As I have stated many times before on this board; if there were additional money out there in terms of factory to dealer incentives, everyone who reads these boards would know about it. You dont really think that Honda has somehow managed to get every consumer advocate web site, edmunds included, to not share super-secret money (that you seem to think exist) they are paying dealer to sell Honda's do you?'
This statement is problematic because these programs actually do exist. They have existed, at one time or another, for each and every manufacturer, and could exist now for Honda or any other manufacturer and Edmunds would actually not have any information about them or very little information about them. Part of the reason that they would not have any information about these programs (the step-stair type dealer cash programs) is that the programs are not simple or easy to understand. Rebates and/or low finance rates are easy to understand. These programs are not. Objectives are usually different for each dealer. Honda might base dealer cash objectives on the planning potential of the market area for a particular dealer while Ford might base their objectives on past sales for same time periods. General Motors might target one model for the cash but count all sales towards an arbitrarily selected objective. The point is that the programs themselves are quite complicated and very difficult to communicate. This, of course, is absolutely intentional. Honda really does not want me or you or Edmunds or anyone else other than dealership decision makers to know about the details of these programs. They are purposefully complicated in order to generate in-house excitement, so to speak, but not 'out-of-house' awareness other than to stimulate more sales. Whether there is a dealer cash program going on presently, however, is really, in actuality, irrelevent. What matters to me and you and all the other consumers in this forum is 'How can I reduce the cost of my primary means of transportation given the fact that I have made a choice to buy or lease a new car?'. And 'Who are the low price retailers in my market area and how can I use them to answer the first question?'.
And to answer your question: Yes....Honda and every other vehicle manufacturer has in the past managed to and could quite possibly in the present be managing to keep their dealer cash program a secret.
#21516 of 32163 Re: Lease '08 Accord sdn I4 man [skw]
Aug 01, 2008 (2:13 pm)
Replying to my own post here but for anyone interested we went back to Boch yesterday and ended up getting the white on ivory color combo we wanted w/ the manual transmission. LX 4cyl $18,400 3yr 36,000mi lease $1,250 total out of pocket up front, $229.34/mo, & .00186MF (OTD incl tax, title, reg, dest, doc fee, & insp sticker). Hopefully picking it up tomorrow. As a side note there was a couple there trying for an EX-L 4cyl black on black, they went back and forth for almost an hr. Sales mgr kept saying to make him an offer above $23,000 and the highest they came to was $22,800. He came back and offered them $23 even, they still pushed for the $22,800, then he told them to have a good night. I found it funny that even at 9:00pm on the very last day of the month a dealer would let a sale walk out the door over only $200.
Aug 01, 2008 (2:29 pm)
$23,000 is a good price to pay for that EX-L. The buyer was a bit greedy in my opinion. New TLs are going for $28K.
#21518 of 32163 Re: 2008 Accord LX-P automatic [gmanandge]
Aug 01, 2008 (2:54 pm)
While you present a well thought out explanation of your therory, you missed something. Something important in regards to Honda sales (and perhaps everyone else). Prices paid would relfect that money being counted -- AND people here would know about it. Look back to April of this year. There was $400.00 paid to dealers on each 4cyl Accord sedan sold through a stair step program. To my amazement, EVERYONE here knew about the $400.00 the day it was announced. That day you saw the best deals on this board being under cut by an additional $400.00!! So while the program is intended to stay away from the public, the public ALWAYS finds out.
Feel free to look back through March and April, you'll see when the stair step program hit. So yes, people do know about it and the proof is just a few clicks away.
#21519 of 32163 Re: 2008 Accord LX-P automatic [mplshondadlr]
Aug 01, 2008 (3:34 pm)
Think about it though.....suppose at that time the retailers in any given market area had not or would probably not reach their objective(s). The $400 dealer cash incentive, in those cases, do not matter to the buyers in those market areas nor do they matter to those dealers. So, in the blogosphere (here, for example) people know that there is an incentive-probably $400-but they don't know this to be absolutely a fact; it only exists in the blogosphere and in the market areas where the dealers have hit their objective(s) and some have started reducing their prices but not necessarily by $400 across the board. And, in fact, it may not even be true in your particular market area because those retailers are not there yet; they have not hit their objective(s). This whole concept is nothing like a national advertising campaign telling the '$1000 rebate or 0% financing' story. There is a lot of mystery surrounding the pricing and the timing. In fact, if you had looked at the manufacturer's incentives listed on the official Edmunds website, then you would have seen someting like this: 'There are no customer cash rebates or incentives available at this time.' Sorry...gotta go...wife calling.
#21520 of 32163 Re: 2008 Accord LX-P automatic [carlosmeade]
Aug 01, 2008 (5:59 pm)
Well, I did the deal, and took delivery of my '08 Polished Metal Metallic LX-P yesterday, and I love the car. I've already got 400 miles on it!
I had 4 of the 5 dealers that I stopped in at call me yesterday wanting to do something before the end of the month, so I took the rest of the day off from work, and had them value my trade and give me thier best price. Competition is the consumers friend, that is for sure!
My deal was this.
19,215 for the 08 Accord
-7,650 for my 05 civic
11,565 taxable transaction
+199 ubiquitous dealer fee (included some sort of plastic coat thing?)
+823.48 sales tax
+6097.58 trade balance
+300.00 dmv fees (they say they refund the difference via check in the mail after they register the car)
-16,320 financed thru AHF at 3.9%
12.50 cent tire disposal fee
2377.56 --------------> I wrote a check for at delivery
my payment will 299.83 for 60 months
This was a solid deal that was better than anyone elses, even with the semi-questionable fees.
The dealer told me that I would absolutely not get preferred financing through American Honda Financial. (According to them, almost no one does) So they tried to steer me to thier department. I called AHF,who I have my current loan through right now, and they said they had no problem extending me 3.9 again on this year end program. I didn't buy any extended warrantees, or other fluff, which they really pressured me to do. I think they expected me to do this, and finance through thier organization, so they cut me a favorable deal. They claimed they wanted my trade in, because they didn't have any new Civics on the lot, other than SI's (which appeared to be true, to my surprise!) Anyway, I did better than I expected, and got the car the same day, so I'm pretty happy. Hopefully, this will be as good of a car as my Civics have been. Thanks for your help everyone!
#21521 of 32163 Re: 2008 Accord LX-P automatic [himitdi]
Aug 01, 2008 (6:39 pm)
Excellent deal. You got the car for $1500 below invoice. Nicely done. I knew you would be able to get the deal for what you wanted in your original post. And to think their were people on this forum that said you were dreaming and there would be no way for you to get the car at the price you want. I wonder what they have to say now. Nice job again and hope you enjoy your new LX-P as much as I am enjoying mine.
#21522 of 32163 Re: 2008 Accord LX-P automatic [mplshondadlr]
Aug 01, 2008 (6:43 pm)
You are starting to sound like me now.
Let me share something with you, my fellow Honda person.
They don't believe you and they never will.
They think there is "secret" money that we get from some place.
They think holdback falls to the bottom line as profit.
Holdback has been 2% for some time now BTW.
Reading these forums will only raise your blood pressure and sour you on the business.
So, why do I read them? Good question.
#21523 of 32163 Re: 2008 Accord LX-P automatic [gmanandge]
Aug 01, 2008 (6:48 pm)
Why does any of this matter?
If you like the car and you don't like the price, make an offer!
It's always the prevaling MARKET that will determine pricing!
True for any commodity item, stocks and houses.