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Honda CR-V Prices Paid and Buying Experience

7254 messages,  Last post on Jul 06, 2008 at 3:41 PM

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What is this discussion about? Honda CR-V, Wagon, SUV


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#6004 of 7254
Sample Offers in UT, ID & CO for 2007/2008 CR-V EX-L by shellyrmt
Oct 08, 2007 (4:56 pm)
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Offer from Larry Miller Honda (Murray, UT) - 2008 EX-L w/o Navi for $26105 (includes destination) - Internet only price.
 
Offer from Smith Honda (Idaho Falls) 2008 EX-L w/o Navi for $26957.
 
Offer from Burt Kuni (Denver) 2007 CR-V EX-L w/Navi for $27213.
 
Offer from Ralph Schomp (Denver) 2007 CR-V EX-L w/o Navi for $25696.
 
I'm still holding out for a 2007 EX-L w/o Navi for $25K.
 
Best of luck everyone!
#6005 of 7254
Re: 2008 CR-V EX-L 4WD without Nav [adamantli] by szer
Oct 08, 2007 (7:41 pm)
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Replying to: adamantli (Oct 08, 2007 4:34 pm)

I think you may got the wrong vehicle here... The 08 are not even out yet... I am still waiting for mine... furthermore, your $595 dest charge is totally wrong... its now $635? Maybe the pricing in NY is that, but in IN, getting a decent +5% profit is already a "luxury". A good example of a greedy dealer is those who insists sell at MSRP. carbuyingtips.com said abt 3% being just enough to cover for overheads and 5% being the reasonable profit point for both parties. I got mine close to 4% though..maybe ard 4.5%
 
For info.. certain dealers in Indy already sold some before they got into their lot
#6006 of 7254
Re: 2008 CR-V EX-L 4WD without Nav [szer] by adamantli
Oct 08, 2007 (9:24 pm)
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Replying to: szer (Oct 08, 2007 7:41 pm)

I think i am old enough to tell the difference between 08 and 07. Plus I asked the sales man couple of times why the stick said MPG is 20/26 for the CR-V I tested. For all 07 model it is 22/28. I am not showing off I got better deal since we are from different area. But I do want to point out is that 08 model is not that hot. It's just my 2 cents to feed back to this forum.
#6007 of 7254
The 5% profit thing by nabors
Oct 08, 2007 (10:28 pm)
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Since a couple people have mentioned it, what do you all think about the carbuyingtips.com formula of buying any car based on the ACTUAL dealer cost - invoice minus the holdback, which according to safecarguide.com, for all models of Honda cars is 3% of the base MSRP, minus incentives, of which I don't believe there are any on an '08 EX-L. So invoice, minus holdback, then 5% profit added, then destination.
 
Following this formula for the '08 EX-L, the figures would be as follows:
 
Invoice - $ 23,709
Holdback- - 765 (3% of MSRP of $25,500)
Dealer profit- + 1,147.20 ($22,944 x 5%)
Destination - + 635
 
Total before
T&L&doc fees $ 24,726.20
 
The site claims if you offer this amount with the calculations described, many dealers will JUMP at the chance to earn the 5% profit.
 
How realistic is this?
#6008 of 7254
Re: The 5% profit thing [nabors] by adamantli
Oct 08, 2007 (10:43 pm)
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Replying to: nabors (Oct 08, 2007 10:28 pm)

i do not have experience for 08-EXL model. but the dealer I visited offered me 22999$ for 08-EX model, and that is the price before negotiation. I was sure he would like to low down another 100 to sell the car. But my budget was to get a LX model.
#6009 of 7254
Re: The 5% profit thing [nabors] by szer
Oct 08, 2007 (11:30 pm)
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Replying to: nabors (Oct 08, 2007 10:28 pm)

first thing first, I believe that Honda has a 2% holdback(no matter what edmunds said, it may not be true)It's last revised in 2005 and other websites mentioned something like 2% and some others 3%... It's a divided opinion. Carbuyingtips.com didn't specifically said that dealers will JUMP at the offer. It's just that it is at least a realistic price that you could take a look at. Holdback can only be seen as a profit if the car is removed from the lot in the first 90 days( it decreases every day). Therefore, you could say that your equation works in favor as long as dealers are willing to have a win-win situation. Many won't accept it but some will. I, myself, gotten lower than the 5% recommended.
#6010 of 7254
Re: The 5% profit thing [szer] by nabors
Oct 08, 2007 (11:52 pm)
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Replying to: szer (Oct 08, 2007 11:30 pm)

I guess it depends on your definition of "jump." Per the paragraph below from carbuyingtips.com, it sure infers dealers will be extremely happy, maybe jumping up and down, on the 5% profit formula:
 
Your Offer: 5% Over Dealer's Actual Cost
That's 5% over dealer's cost, not over invoice price. They'll gladly take 5% profit, dealers survive on 3%. I've verified this with salesmen. Grocery stores earn 1-3% profit. This 5% profit pays dealer overhead and sales commissions. Dealer expenses include rent, utilities, salaries, loan interest, etc. If they use cost controls, and low rent, their cost of sales is less. Many dealers charge ad and dealer prep fees to make up for costs. They get incentives if they meet sales goals, which offsets expenses. They make a killing on buyers not as informed as you and I. Tell them they'll make up for it on the suckers. Explain the big picture, that they'll also profit by servicing your car. It's important to know what happens on the dealer's end. One dealer told me they averaged $198 PRE-tax profit on new cars, after $140,000 in monthly expenses from selling 50-100 cars a month. I'm not saying don't give them profit. They have a right to profit and be wealthy. Just don't give them too much. While you are feeling sorry for them, paying MSRP, being broke from car payments, the dealer moves into a $4 million house on the beach. They'll profit plenty from you, especially if you trade in a car. They make profits from trade-ins, credit insurance, finance, parts, extended warranties, rust proofing, body work.
#6011 of 7254
Re: The 5% profit thing [nabors] by szer
Oct 09, 2007 (12:14 am)
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Replying to: nabors (Oct 08, 2007 11:52 pm)

Like you said, it's a general broad perception. While he specified the use of the equation, the writer DIDN'T specifically pinpoint the equation to be successful in a Honda negotiation. Buying a car is like going in to a market. There's not really a price that we could say it's good or it's bad. It's all about demand and supply and how certain states have better dealerships than another.
#6012 of 7254
Re: The 5% profit thing [nabors] by kjf2
Oct 09, 2007 (7:55 am)
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Replying to: nabors (Oct 08, 2007 10:28 pm)

For '07s, I think its possible at that price, for '08's that seems low by several hundred, but the market determines the price. Walk into a dealer and make an offer.
 
Less than two weeks ago, I offered 25,000 for an 07 EX-L 4wd w/o navigation, (+Tax/title) and the dealer accepted the deal. The Edmunds invoice for that car before destination is $400 more than the '08 2WD EXL that you are looking at.
 
Read earlier postings on this forum during the past month, a number of people have gotten or claimed to have gotten '07 AWD EX-L's w/o nav for 25K.
#6013 of 7254
2007 4wd EXL CRV's by isellhondas
Oct 09, 2007 (8:11 am)
Reply
Are just about all gone at this point. At least around here this is the case.

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