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Honda Accord Prices Paid and Buying Experience

24570 messages,  Last post on Dec 07, 2009 at 9:21 PM

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What is this discussion about? Honda Accord, Coupe, Sedan

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#2421 of 24570 consideration of depreciation by winbro Aug 04, 2003 (6:20 am)
I thought the year end clearance sale was Honda's answer
#2422 of 24570 Rental fee by kyfdx HOST Aug 04, 2003 (6:58 am)
Not positive, but I think I've seen this term before... The payment is made up of depreciation (cap cost minus residual) and rental fee (financing cost: (money factor)times(residual plus cap). The rental fee is the interest.   regards, kyfdx
#2423 of 24570 by fdefulvio Aug 04, 2003 (10:14 am)
I agree with what toad500 said. Other manufacturers are offering rebates to offset the reduced value of a leftover '03 vehicle. Years ago, dealers didn't discount off of MSRP like they do today, and would offer much larger discounts on leftovers. Today, it's not uncommon to find dealers willing to take a "fair" amount over invoice to make a sale even on newly released models. I'll gladly pay $400 over invoice for an '04 than pay invoice for an '03. You more than make up for the difference when it's time to get rid of the car.   Honda's "Year End Clearance" is nothing more than a marketing gimmick. They're not discounting the cars any more than the day before. It's just a way to get people into the show rooms. They are at least offering a lower interest rate as an incentive, but 2.9% isn't much better than I will get from a home equity line after the tax savings.
#2424 of 24570 Funny.... by isellhondas Aug 04, 2003 (1:16 pm)
These are NOT distressed merchandise, folks!   I hear this "it's a year old" thing pretty often.   My response...So What?   Unless you plan to sell the car in the next couple of years it really doesn't matter.   Even if you do, a four year old car with low miles can be worth pretty close to the same amount as a three year old car with normal miles!   It's not necessary to lose moeny in order to sell these.
#2425 of 24570 Price paid for 2003 Accord V6 EXL w/o Nav by 03accordowner Aug 04, 2003 (2:56 pm)
I just bought a 2003 Accord V6 EX without Navigation for $22788 (plus tax and fees) at 2.9% APR for 60 months which is about $900 under invoice from Anderson Honda Palo Alto, CA. I hope i got a good price especailly since the 04 models are expected soon.   I like the deck lid spoiler and was planning to get one for my car. Does anybody know what is the total cost including installation and is it worth it?
#2426 of 24570 Message #2417 Continued: $2000 Discount Off Invoice? by toad500 Aug 04, 2003 (7:10 pm)
To fdefulvio and isellhondas, I thank the both of you for your recent input on this topic. isellhondas's comment was intriguing to me, specifically the comment on his/her contention that there is little to no difference in the market value(resale to a private party) for a 3 year old Honda with high miles versus a 4 year old Honda with low miles. So, I decided to test this claim: I pulled up the private party value on Kelly Blue Book of both those vehicles(model years 2001 and 2000, EX models with a 4 cylinder engine and manual transmission, and with the same equipment and used 12000 miles/year and 10000 miles/year, respectively. I found that the resale value of the 2001 Honda is $14795 and the resale value of the 2000 Honda is $13320, which of course is a difference of $1475. If mileage is constant on both models, say 12000 miles/year, the difference increases to $1925. This is my point. This money is lost years later and can never be recouped. This is the very nature of depreciation. The key here is that it is lost to me, the consumer. I am going to make a big assumption here, but I'm thinking that isellhondas sells Hondas for a living. He/she states "It is not necessary to lose money to sell these." However, with my rudimentary calculations in hand as evidenced, it may just be necessary to lose money to BUY these, at least before October.   Regardless, I came away from this discussion board satisfied with knowing that if I am to get a Honda now, I will at least need to get approximately $1700(an average of $1925 and $1475) off the "invoice + $300" mark. Any less, and the consumer is the one "paying the bill", unless, of course, you drive the car into the ground, have no family emergencies in the next couple of years and are not forced to sell the vehicle for hardship reasons, and do not have your vehicle declared a total loss due to an auto accident. Those are a lot of "If's". I'll shoot for $1700 under invoice, otherwise, here I come 2004 EX! Thanks all!
#2427 of 24570 Selling prices of '03 Honda by steve_on Aug 04, 2003 (8:54 pm)
I guess I did OK toad500, just bought an EX 4 door 4 cyl for $300 below invoice or $20,300.   Could I have waited for a '04 ?   Yes, and not received 2.9 finance   Yes and received a '04 which from what I hear has no to minor changes from the '03.   Yes and not beat invoice by $300.   Wait until October, and you can probably shave another 300 to 400 off the deal I got, and probably get the same finance, but that's only a guess. If economy continues to improve, I would not take that bet.   But hey, it's your call and your money, and no I don't sell hondas, just buy them every 7 or so years....LOL.
#2428 of 24570 Toad... by isellhondas Aug 05, 2003 (7:14 am)
Well, assuming your figures are correct, you also need to factor in the 2.9% financing vs.whatever you would pay on a 2004. Also, how do you know prices won't be going up?   Also, people go bonkers over low mileage cars and will pay all the money for these.   1700.00 below invoice...I don't think so!
#2429 of 24570 My 2003 Accord by toolfan1 Aug 05, 2003 (10:04 am)
I bought a 2003 Accord Coupe V6 6spd about a week ago. Paid around 25,600 OTD. It took around a week for the dealership to find one for us. They wouldn't deal much on the price since apparently the 6spds are rare, but I love this car!!!!!
#2430 of 24570 toad by jratcliffe Aug 05, 2003 (11:36 am)
Actually, I think the point he was making is that if you buy a car today, and drive it 12k miles a year, in three years you'll have either a 2003 with 36k miles (low miles for a 2003), or a 2004 with 36k miles (about in line). I did the same analysis: 2000 or 2001 EX 4Cyl, no options. The 2001 private party (no options) was $13,752, while the 2000 (only options were CD and side bags, to bring it into line with the 01 option-wise) was $13,167, so the difference is about $600.

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