Last post on May 23, 2013 at 8:25 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Honda Accord, Coupe, Sedan
#28550 of 29567 Re: 2013 Honda Accord EX Purchase - Good Deal? [ar831]
Feb 19, 2013 (3:41 pm)
REF: 28516 (ar831)
I am trying to work out the numbers on your deal. I am left with $1029 for tax and tags. Is this possible? Did they calculate the 6% tax on the difference between your trade and the new EX?
I also ran the bankrate.com auto loan calculator using your numbers: $29262, 9.49% apr and 72 month term. Sadly, the $535 per month payment is correct.
At the risk of coming across as a douche (again), it seems you traded a $391 lease payment (with 8 months remaining) for a $535 loan payment (for a very long 72 months). You never mentioned whether there was something wrong with the crosstour (high miles, poor condition, etc.) which might justify the transaction. Otherwise, this was truly a bad decision on your part.
#28551 of 29567 Re: 2013 EX-L sedan 4-cylinder [jimmytulsa]
Feb 19, 2013 (6:03 pm)
I didn't know the details for Oklahoma, my bad. That sounds like a great deal. I wouldn't push it with a lower price on the spoiler, since you're getting a great deal overall. Btw, is this price the result of a long negotiation process ?
#28552 of 29567 Re: 2013 Honda Accord EX Purchase - Good Deal? [pegasus17]
Feb 19, 2013 (6:29 pm)
pegasus, do you understand how leases work?
The lessor was responsible for the remaining lease payments.
Had he/she kept the car until the lease ended and assuming the car wasn't damaged or had excessive miles he/she could have simply walked away.
And not had a car to drive.
Probably the wisest thing that could have happened would have been to keep it until lease end and walked away.
Then used the 1500.00 to put down as a down payment on something else.
I owuld have suggested a lesser car. Perhaps a Civic or an Accord LX. Nobody "needs" a sunroof or some of the other trivial accessories that come on the EX.
I would have skipped those warantees and the tint job and taken a more conservative approach. But...that's me.
The deal has been done. It's not the end of the world. He/she ahs a nice car to drive and next time wiser decisions will probably be made.
#28553 of 29567 Re: 2013 Honda Accord EX Purchase - Good Deal? [pegasus17]
Feb 19, 2013 (6:32 pm)
I was a actually almost over the miles. I wanted to trade in the lease for a finance so I don't have to worry about miles and pay for a car I want to keep for a long time. I spoke to the car salesman today and he advised that the price of the vehicle was 23k and change but added the 3k of my last 8 payments. He said my crosstour was actually $1500 or so under but they never charged me for it only for my remaining payments. He said crosstours are rarely selling as new so the value of a used one is not so good. I can afford the new payment, I was mostly inquiring about the deal I got. Considering I have so much against me like my credit n a car with no equity it seems like an ok deal to me. I plan on paying off the car sooner then 72 months and there's no prepayment penalties. I will also see if I can refinance when my credit gets better. Thank u everyone for ur comments!!!
#28554 of 29567 Responsibility, Accountability, Consequences
Feb 19, 2013 (6:57 pm)
REF: 28552 (for isellhondas and others)
1. Yes, i am fully aware that he is responsible for the remaining 8 payments of the closed-end lease.
2. If the purpose of this forum is to help consumers and not make silly mistakes, then there is a lot to learn from this example. I feel bad that this person is in a shitty situation. However, if we could turn back time, would we:
a. buy the EX instead of the LX (or a Civic)?
b. buy the unnecessary extended warranty at the time of sale? BTW, Florida may not allow purchases of warranties from out-of-state dealerships.
c. buy a tire warranty?
d. tint makes a lot of sense in FL
e. despite having sub-optimal credit, shop around for a car loan before going to a dealer (at least he could have brought some lube)
3. Lastly, think twice before posting on a public forum and asking the proverbial question,
"Did i get a good deal?"
Please, people, ask first before you take the plunge...
#28555 of 29567 Re: 2013 EX-L sedan 4-cylinder [jimmytulsa]
Feb 19, 2013 (7:15 pm)
Honda Care is $635 for 6 yrs/100k miles from Hyannis Honda - This is 0 Deductible or $100 Deductible ?
#28556 of 29567 Re: 2013 EX-L sedan 4-cylinder [jammike]
Feb 19, 2013 (7:28 pm)
HondaCare $100 deductible, 6yrs/100K miles for $635.
#28557 of 29567 Re: 2013 Honda Accord EX Purchase - Good Deal? [ar831]
Feb 19, 2013 (8:32 pm)
If we are only talking the new car price and if the $23k includes destination fee, it is a good price. You are paying $1000 under invoice (cvt, I assume). Here in southern CA, most dealers quote me around $23,200 to $23,600, and I found it impossible to get them to lower price from their quotes.
#28558 of 29567 Re: 2013 Honda Accord EX Purchase - Good Deal? [augcarbuyer]
Feb 19, 2013 (9:30 pm)
Unless you are going to commit to buying at the time of your Negotiation and letting each dealer know before you make your offer price.. most dealers will not lower the price unless they know your buying it that moment.
This is the best and fastest way to find your lowest price and make your best deal.. Thats your leverage when negotiating. When you ask dealers to give you there lowest price 9x out of ten they wont give you there bottom line price. Especially in the beginning/ middle of any month. Price quotes Online.. dealers know you will use there online quotes to shop around.
Last 2 days or at quarters end is when you start to conduct your business on buying. Go visit, call or email as many dealerships the last day of this month and you will for sure know exactly what you could buy your model for this month in your area. I found out the nyc market jan 31 within 2 hours. You seem well capably to do it. Be ready to buy when your making your calls. Wont get any easier than this . Why step foot in the showrooms unless your doing research or test driving a vehicle.. Buy Online its stress free and will save you hours on end sitting in the showrooms watching the salesman and his manager hiding behind the curtain playing the powerful Oz game.. Happy hunting
#28559 of 29567 Re: 2013 Honda Accord EX Purchase - Good Deal? [brian125]
Feb 19, 2013 (10:09 pm)
I was committed from day one. I had online quotes that are $1500 under invoice. Unfortunately that dealer didn't have the color I wanted at that moment. So I had to negotiate with other dealers. I tell you the week before this dealer finally had the car, I would be happy if I could get it for $23k which is $1000 under invoice. But no one would give me that price. I believe dealers have different costs and profit models. In other words, their bottom lines are truly different. Luckily for me, the dealer who gave me the lowest quote finally got the car I wanted and they stuck to the quote. So I am out of the hunt at least for now.