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Prices Paid: Buying & Leasing Experiences Honda Accord Prices Paid and Buying Experience
24489 messages, Last post on Nov 10, 2009 at 11:48 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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In speaking with a manager at a local dealership he gave me the bottom line on the incentive program honda is running now. There is no traditional "dealer cash" on Accords, but there is a "Stair Step" program where the dealer gets $750 from honda if he meets his sales goal for the month. This means that come the end of the month if a dealer needs a few units to make his goal, he will be very motivated. If he has already made his number however he may not be as aggressive. The number I was quoted on a BRAND NEW Accord EX-V6 sedan was $23,100 plus Taxes 6% Tags Doc etc For an NJ customer the # was $25,000 OUT THE DOOR. This includes the $750 incentive and approx $800 in holdback. I know he was serious because he presented me with a buyers order with these numbers ($25,000 OUT THE DOOR). I only passed because I wasn't ready to buy just yet, and if he needs to move a unit on the last day of the month I can save another $100 - $200. If anyone else has additional info on this program please share.
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Replying to: 750bmz (May 16, 2005 5:36 pm) Car_man, "Rebates, Incentives, APRs - Questions & Comments" #2841, 9 May 2005 7:26 am |
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Replying to: natenj1971 (May 16, 2005 11:00 am)
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I bought the EX-L at a dealer for 21,500 including destination... thought that was a pretty good price (21,900 invoice, less $700 - 3% of MSRP - is $21,200) This was before I heard about carsdirect. The carsdirect price is 20,700. My question: how is the carsdirect price less than the invoice-less-holdback? Is this the volume rebates kicking in? Just how badly did I get screwed?
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Replying to: beamin2 (May 16, 2005 9:20 pm) Hold back is 3% of MSRP so you can figure that. From March through May Honda has been giving dealers an incentive based on sales goals. The top number was $600 in March, $750 in April, and $900 in May. So if the dealer knows or plans to qualify for the top incentive, then invoice - hold back - $900 + some profit COULD be the price. As was mentioned, not all dealers get the full incentive. I think every one that I talked to in March made it for the $600, but I am wondering if Honda raised the bar since then. You got your car for $400 under invoice, which is normally not bad for a Honda. Without knowing about the incentives hard to drive a better bargain. Dennis |
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Replying to: todd7 (May 05, 2005 11:10 pm) Justin |
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Replying to: beamin2 (May 16, 2005 9:20 pm)
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For what is worth, here is a copy of the terms of my lease agreement signed yesterday. This is in the Los Angeles area. MSRP (inc. dest): 21,140.00 Sale Price: 17,800.00 Acq. Fee: 595.00 (rolled in) Gross Cap Cost: 18,395.00 Cap Cost Red: 33.08 (part of a 750 initial payment, see below) Adjusted Cap Cost: 18361.92 Residual Value: 10992.80 Depreciation: 7,369.12 Money Factor: 0.00031 Rent Charge: 327.60 Total of Payments: 7,696.72 Number of Payments: 36 Single Payment: 213.80 Sales Tax: 17.64 Total Single Payment: 231.44 Initial payment of 750.00, distributed as follows: Cap Cost Reduction: 33.08 Sales Tax on Cap Cost Reduction: 2.73 First Payment: 231.44 Refundable Deposit: 250.00 Initial Registration: 179.00 Document Fee: 45.00 California Tire Fee: 8.75 Total: 750.00 The Accord feels great, and I got a J VIN too |
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Replying to: passat_mx (May 17, 2005 9:41 am) Great job!! |
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