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Prices Paid: Buying & Leasing Experiences Honda Accord Prices Paid and Buying Experience
24564 messages, Last post on Dec 01, 2009 at 4:35 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: georgebush1 (Jun 24, 2009 3:24 pm)
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Replying to: honda_man2 (Jun 29, 2009 7:29 am) And you know this how?
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Replying to: knight4 (Jun 28, 2009 3:37 pm) |
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Replying to: kingpcgeek (Jun 29, 2009 8:09 am) |
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Replying to: honda_man2 (Jun 29, 2009 10:17 am)
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Replying to: kingpcgeek (Jun 29, 2009 10:40 am) 1) Honda is offering $1500 "marketing support" on Accords until July 6. This apparently can be used to allow dealers to offer prices below invoice: http://www.edmunds.com/advice/buying/articles/78386/page002.html 2) Dealer holdback on Hondas is 2% of base MSRP at all times. This can be used to inflate the invoice price: http://www.edmunds.com/advice/incentives/holdback/index.html As the second article makes clear, dealers sometimes have additional methods of making profits below invoice, but this information is not available to the public. My recent experience buying an Accord EX Sedan w/AT shows that two dealers in my area were willing to go $2,338 below invoice. According to Edmonds' figures, the combined holdback and marketing incentive on this model was $1942, but two dealers went an additional $396 lower (Invoice=$22,838, Edmunds' TMV=$21,719, Actual price paid=$20,500). A third dealer was only willing to go $1677 below invoice because he told me that it was not "economically feasible" to drop the price further. The conclusion is that information freely available on the internet can explain most, but not all of my discount below dealer invoice. Since dealers have additional mysterious wiggle room or currently are willing to take losses, my advice is to bargain hard with multiple dealers to find the true TMV in your region. Some Honda dealers faced with a bad economy and lots of competition have an oversupply of 2009 Accords. They are looking to make deals well below invoice before the arrival of the 2010 models.
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Replying to: jswifty (Jun 29, 2009 12:13 pm) #2 - I know. What you fail to mention is that the holdback is 2% when the vehicle is floored. The longer it sits the less the hold back At 90 days of sitting on the lot there is no holdback The subject wasn't how dealers can go below invoice for pricing. The subject was the urban legend that car dealers don't pay invoice for their cars, that they have been conning us for years and still to this day their secret is safe. |
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| Has anyone heard if the "Manufacturer to Dealer, $1500 Cash to Dealer" will be extended beyond July 6? Or if there may be a better offer? Thanks. | |
| Can someone tell me if they are happy that they purchased the GPS package on the Accord? I realize it adds an extra couple of grand to the sticker price. Does everyone find it is helpful and worth the investment? I am thinking about getting it but not sure. | |
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Replying to: jswifty (Jun 29, 2009 12:13 pm) |
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