Last post on Dec 12, 2013 at 5:50 AM
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Honda CR-V, Wagon, SUV
#9221 of 13100 Re: 2010 CR-V EX 4WD [netak1]
Oct 02, 2009 (9:17 am)
Apologies for not being clearer. I mentioned in my previous post...."I've always been told the rate was 6.99%".....not "I've been told the rates are always 6.99%". I'm sure there are instances there have been lower APRs for the CRV.....I've just "always been told" the current APR was 6.99% and there were no specials whenever I've inquired in the dealership or via email.
Once a salesman said they had an APR special for a few days, but he also stated they were not honoring internet quotes or any other "deals" on the car during that time. So the low APR would be counterbalanced by a higher car price.
When I'm ready, I will have to keep an eye out around quarter end and see if I can get a low APR coupled with a decent deal on the car itself.
No appologies needed. You are right about what you said, I just read it wrong.
If you go to Honda webstie and sign up for specials, you will get e-mails about their offers, such as low APR rates, and lease offers.
When you get those, don't buy into the claim that you can not negotiate the price. Dealers always make up stories about things like that. American Honda Finance Corporation does not really care what you paid for the car, as long as you are making your payments on time. Only dealers care what you paid. Even Honda corporate does not care what you paid for the car. They got their money when they sold the vehicle to the dealer.
So, if you see the lowr APR offer from AHFC, pre-qualify on-line and print out the certificate. Don't show it to the dealer until you have negotiated the price you are comfortable paying. Then, in the finance guy's office, when he tells you the rate, whip it out and catch him in his own lies.
Wait until the 2010 models have been delivered to the dealers, and you should have no problem negotiating a good deal on a 2009 model "left-over." You may be limited in the choice of colors and trims, but you will get the price that way.
#9222 of 13100 Re: 2010 CR-V EX 4WD [blueiedgod]
Oct 02, 2009 (9:27 am)
Believe it or not, all my looking around and pricing the CR-V and I never signed up on Honda's website for CR-V alerts! Needless to say I just signed up.....thanks for the tip!!
Oct 02, 2009 (9:27 am)
keep in mind that a 4% APR right now is about a break even rate (meaning no net profit) rate for a tier I borrower based on the typical risk and loss levels an auto loan presents. Most banks want some profit, except credit unions which are hte only ones offering less than 5%.
The only way to get a better rate is for someone to subsidise the loan. So if you see 2.99, 0% or low rates like that, the auto compacy or dealer is paying hte bank for that low rate.
The other way ot get a low rate, is sometimes a bank will offer a teaser rate with huge penalties for late paymetns or defaulting. they know that a certain percentage will pay late, which will allow them to take you 2.99% up to 12.99% or maybe 15.99%.
Just osemthing ot keep in mind. Money doesn't grow on trees and lending has risks and costs money. How do you think we got inot the mess were in. Fundamentally, loans were not being priced or the rates set appropriate for the level of risk, or the level of risk was being falsely represented.
It's all in statistics. if you know that 5% of your borrowers default and the loss on each loan is $5000 and you're average loan is $20,000, then you'll need $25,000 to cover those losses. So if you charge those 100 people a APR that grosses $5000 profit over the life of the loan each loan, you're gross profit is $500,000. Subtract you internal costs of perhaps $500 per loan, and the net profit is $425,000 on $25,000,000 in loans or a return of just 1.7% on the capital. I'm probably oversimplyfing it. I'm not incudling the cost of money or the fees collected form late payments, but it does explain why you get such low yields on a basic savings account.
#9224 of 13100 Re: LX 4WD bought finally [jik]
Oct 02, 2009 (11:09 am)
$26,302 for an AWD EX L. One dealer was $107 cheaper, one dealer was $102 cheaper, one dealer was $410 more. Edmunds TMV is around $25,900, but I've never really been able to match their TMV. kbb.com is more accurate I think, I think kbb was around $26,200.
In the end, I went with the closest dealer to my house for the convenience and also because I liked the saleswoman. She was very up front, no B.S. and took her time, explained everything. I tried twice to get her down a little on price, like $100, but her first price was her last price. She has been selling Hondas at that dealership for 21 years, and has two walls full of awards for saleperson of the Month, Salesperson of the Year, etc, etc I think she won just about every year in the '90s.
The first time I saw her it was about a half hour for the test drive and she gave me the price immediately. I went back about 3-4 days later to buy the Royal Blue one and it was sold! She had no more Royal Blue, told me it wasn't worth it for dealership to exchange cars to get me one at the price she gave me. She told me what she had in stock and what was coming in. That visit was about 15 minutes.
I decided to take a week or two to wait for my down payment money to arrive and look around. I kept going back and forth between a pre owned Pilot or 4Runner and a new CRV.
All this time I had some j/o salesman calling me 2-3 times per day for two weeks trying to get me into his dealership. He had the lowest price $26,195, and he had the Royal Blue with grey leather that I wanted, but I just had the feeling that it was going to be a stressful environment between him and the finance guy. That dealership also has very low ratings on Edmunds and dealerrater.com whereas my saleswoman is mentioned, I think it's in Edmunds dealer reviews, by name as being great. Some people bought multiple cars from her. I really didn't want to leave any dealership feeling pissed off and abused.
I picked up the car yesterday. It was as simple and straightforward a deal as I could imagine. Just the purchase price, tax, DMV fees, and $75 for the dealer to get the plates, title etc.I had to meet with the alarm and waranty guy, but even he was OK. The paperwork took maybe 15 minutes and she spent a good 25-30 minutes with me setting radio stations, explaining every switch and button, showing me all the manuals, seat controls, jack, spare tire, everything you could think of.
In the end, I didn't get my first color choice, and I probably overpayed about $100, maybe more, but I left happy. I know myself, and even if I got a better price but felt somehow screwed by another salesperson or dealership, I wouldn't be as happy. It would always be in the back of my mind that they took advantage of me somehow. I'd rather pay the extra hundred or two, and know that everyone at the dealership can make an honest living, as long as it's all above board and the dealership is convenient to me.
#9225 of 13100 Need price of CR-V EX-L with out navigation
Oct 02, 2009 (11:12 am)
I am having a quote from a dealer for Honda CR-V EX-L leather seat with no navigation for 25,100 + tax + title . I live in cleveland , ohio. Is it a good deal or i need to negotiate further?
#9226 of 13100 Re: Need price of CR-V EX-L with out navigation [vkrishnan]
Oct 02, 2009 (11:17 am)
Check Edmunds TMV, kbb.com and truecar.com.
I guess that's a FWD? I think it sounds very good, but I'm not sure.
#9227 of 13100 Re: Need price of CR-V EX-L with out navigation [chuckfromli]
Oct 02, 2009 (11:19 am)
Yes its for 4WD
#9228 of 13100 Re: 09 CRV Ex-L [peterpan3]
Oct 02, 2009 (5:27 pm)
Yes 25k tax and title and doc fee. Let ask for Liz and say Ning sent you.
#9229 of 13100 Re: Need price of CR-V EX-L with out navigation [vkrishnan]
Oct 02, 2009 (6:10 pm)
Is this a 2009 or a 2010?
#9230 of 13100 Re: Need price of CR-V EX-L with out navigation [vkrishnan]
Oct 02, 2009 (7:14 pm)
Are you sure it's an E L AWD? Because I think that price would be several hundred under dealers cost. I think it's under dealers cost even with the $500 manufacturer to dealer incentive. I don't see how they could do it unless there were several hundred dollars in add on options and/or you financed most of the price through the dealer at a high rate.
Just my opinion.