Last post on Jun 19, 2013 at 5:45 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Coupe, Sedan
#27619 of 29860 2013 Accord EXL 4 cyl no Nav
Dec 02, 2012 (5:37 pm)
We purchased the vehicle Friday night after sending an email to local dealer late Thursday. Thanks to everyone on the forum for posting so much helpful info. I have been reading on and off the posts for several months. We narrowed our vehicle choice down after considering the Altima and a VW Passat TDI. This car is needed for a 50 mile per day commute, so decent MPG was important. We liked the new technology on the Accord, we noticed anyone tall in the the Altima backseat would be hitting their head on the top of the car, and we were hesitant about the reliability of VW, although we have heard that the diesel engines last a long time if maintained.
The quote we received was for invoice plus the typical $790 destination, $26,400, on the EXL in the color we wanted. I noticed in the fine print that there would be a $100 document fee. I called the internet salesman Friday morning. The car was a dealer trade. I told him we weren't interested in any dealer add on accessories. Ended up the car had the splash guards, trunk liner and the wheel locks. I ended up getting him to waive the $100 doc fee and a $33 notary fee, agreed to pay for the splash guards only of the add ons, as that was the one item we felt was really necessary for the rock and shell parking lot my husband parks in daily by the river. I had already done my research on the registration, title and license fees by looking it up online, so we agreed on the calculation, he faxed me a buyer's order and I faxed him a form to charge my credit card $500. The car was prepped and waiting for us at 6 pm Friday, November 30th.
They said the doc and notary fees had to be shown on the sales form, so they reduced the sales price by the $133.
Sales price $26,423 (so I paid $153 for the splash guards which was too high, obviously, but at least I got the trunk mat and the wheel locks thrown in)
Sales tax $2378 (9% in Louisiana, ouch)
Waste tire fee $8
Tag and inspection $22
License title and registration fees $88.50
We had been approved by Pen fed for a 60 month loan for $29,000 at 1.49% but did not have any paperwork on it. The finance manager was able to get me 1.84% through a bank and I was satisfied with that. No financing fees.
The finance manager tried to sell both gap insurance and the extended warranty, already figured it into the monthly payments. He removed the cost of both though since we were firm without any hassle. Before he removed the cost he even came down a little on the price of the warranty which he called VIP and included the use of a rental car. The 6 year extended was $1,120 and the 7 year was $1,220. We may get it later, maybe through the internet from one of the dealers listed in this forum.
The dealer was Richards Honda in Baton Rouge, Louisiana. It was hassle free dealing with both the internet salesman and the finance manager. The finance manager actually grew up not far from where my husband grew up in NOLA, so we had a good rapport. He also is studying accounting and we are both CPA's. It went smoothly and I would recommend this dealer.
I think dealing on the last day of the month helped.
It was late when we drove our car home, so the salesman offered to walk us through setting up the technology options Saturday afternoon. He spent at least an hour and a half setting our phones up, showing us how to do the voice recognition speed dial, Honda link and Aha, and setting up Sirius radio stations. He was very patient.
Thanks all of you for posting so much info. We tried the internet route with the Passat back in early October and it was fruitless. I don't think we got the best deal ever on the Acoord but I was trying to pay close to invoice, and was satisfied that I only paid $156 for the dealer add ons.
#27620 of 29860 Re: Leasing [brian125]
Dec 02, 2012 (7:00 pm)
Thanks Brian, but unless there is a manufacturers incentive on a lease, the dealer would not be motivated to give you any break on the cap cost that he wouldn't give in a purchase. To the dealer, it's only a matter who is paying him for the sale so if you were able to get him to go way under invoice on a lease, he would do it for a purchase too.
I do suggest that anyone looking for a car that maintains it's value and would therefore have a high residual, such as a Camry LE or an Accord LX (as opposed to an Accord Touring) and will not put a lot of miles on it to consider leasing. For the past several years, you could lease an LE or LX, throwing all the fees in the lease, for about $250 a month. Purchasing would be about $22,000. It would take 88 months of lease payments to get to $22,000 and considering the time value of money, even longer. And if you financed the purchase, it would be around 9 years. Sure, your 8 or 9 year old Accord would still be worth a few thousand, but you would have been paying any repairs yourself after year 3. Had you been leasing, you would be on your third new car, probably one with a new re-design, and you would never even be driving a car that was 3 years old.
#27621 of 29860 Re: Leasing [gee22]
Dec 03, 2012 (10:37 am)
I would like to know what you think about the following arrangement.
I am leasing a Honda Accord EX-L V-6 with Nav for $460/month with ZERO downpayment and only paying the first months lease. The residual is $19,050 after a three year lease and 12K/year. The cap costs is $30,260. I think the MF and residual is the same for any Honda dealer and there are no incentives that I know of at this time.
Appreciate you and brian125 thoughts about the above.
#27622 of 29860 Re: 2013 Accord EXL 4cyl non nav [newaccord]
Dec 03, 2012 (11:20 am)
Could you pls share the dealer info and the sales rep name. Thank you
#27624 of 29860 Re: Leasing [peter07]
Dec 03, 2012 (11:58 am)
You need to fill in the blanks on this deal then use the leasing formula to see if your lease deal matches the monthly numbers.. I would listen to every thing Gee has been posting he is dead on about leasing. Try checking out the Honda forum from Edmunds on leasing you will learn alot.
1st- Your cap cost-- Is this the lowest Negotiated price or are you taking the dealers numbers.. Neg your lowest price on this vehicle. At Worst case your Cap cost should be dealers Invoice price plus dealers fee's and taxes. Find out about excessive wear and tear on your vehicles return.... Tires, sratches, dings,, etc. they will hit you hard on return if you dont keep there car in good standing..
2- You cant Think--- Call Dealer and get the Dec, MF/ and residual they are using on this deal.......... Apply the leasing formula for pricing
Good luck............. Brian
#27625 of 29860 Re: Leasing [brian125]
Dec 03, 2012 (12:45 pm)
The cap costs is 30,117 and the MF is .00165. The residual for the lease of 36 months and 12K/year at 58% is $19,058. Applying the leasing formula with those numbers gives me a lease figure in the low $400's/month so something is missing in all of this. I have added a few accessories that add about $12/month to that number but still no where near what lease figures I have gotten from three dealers!!!
Thanks Brian for your input.
#27626 of 29860 2013 Accord EXL in CT
Dec 03, 2012 (1:26 pm)
Got a quote on 2013 Accord EXL for $27,297 out the door with CT sales tax and Honda's destination charge included! The only fee not included is CT registration fee.
I guess the registration would be less than $200. So the final OTD will be around $27500. Is this a good deal?
#27627 of 29860 Re: 2013 Accord EXL in CT [idealbrain]
Dec 03, 2012 (1:21 pm)
How would anyone know if it is a good deal or not, you are not providing the necessary information to decide if it is a good deal. If you read through some of the pages back, it will clearly state that when one asks for opinion of a deal, he should tell the price in detail
Any Dealer addons
Agreed price (including delivery)
Tax rate in your state
Coming and giving an OTD price and asking for opinion will only waste the valuable time of the members reading the post and trying to figure out your actual cost on the car!
#27628 of 29860 Re: 2013 Accord EXL in CT [zatires]
Dec 03, 2012 (1:29 pm)
Thanks for the response. I thought the OTD price is the one which finally matters more than the breakup price. That was the price i got from the dealer without breakup. I will try to get the breakup price.