Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Honda Fit Prices Paid and Buying Experiences
2418 messages, Last post on Nov 15, 2009 at 5:59 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
Replying to: psychoticgas (Dec 22, 2008 10:07 am) |
|
|
I have been trying to convince several Honda dealerships in NJ to sell me a base model '09 Fit for $10,000 dollars cash. They all think I'm being absurd. Here's what I tell them to convince them that my offer is in fact very reasonable. If you've been following the NYTimes (or any other major newspaper in this country) for the last few days, you know that all of the major car companies (all of them) just crashed into a brick wall. That wall is comprised of insanely overspent American consumers who can longer use their homes as ATM's to buy cars with, whose investment portfolios (assuming they had one) just got cut in half, who most likely owe their mortgage lenders more then their home is worth, whose job may or may not exist in a few months, and who have probably just been told by their credit card company that their credit limit is being drastically reduced. And that would describe someone in a good situation. To top it all off, the Yen will only continue to gain on the dollar as the Fed has made clear that it intends to flood the market with green backs to encourage interbank lending which is supposed to eventually help consumers somehow(?). Ergo, the Japanese companies need to sell these cars quickly to reap the greatest return. There is not a single piece of good news in this market for anyone trying to sell something like a new car, i.e. a very expensive item with a long life. The party is truly over. The house is on fire. And, it is almost certain to burn to the ground. If, over the last few years, you have been saving diligently, living within your means, and looking forward to the day that you had the SAVINGS (not credit) to make a large purchase, i.e. a car, this market is so insanely ripe for huge discounts it isn't even funny. Sadly, the dealers have not yet accepted this. They are clinging to the past, pathetically so. The dealers will be forced, eventually, to offer huge discounts or accept that they will not sell cars. Honda and Toyota are going to be forced to instruct their dealers to make these deals until the cars stop piling up at U.S. ports. It is all inevitable. Ah, the free market! Gotta love it when it works for you. Hold out for a BIG discount. Think way beyond invoice. It's only a matter of time.
|
|
|
Replying to: cpryan (Dec 23, 2008 4:35 pm) |
|
|
Replying to: cpryan (Dec 23, 2008 4:35 pm) Even Toyota, whose forecast operational loss has been widely reported, is projected to have a net profit of about half a billion dollars (US) for the fiscal year, even though that's about 1/10 of what they were forecasting in the beginning. The Japanese manufacturers are saying that they are hurting, and I believe them. The difference is, though, that their hurt is more like a bruise while Detroit's is more like terminal cancer. What does this mean to us consumers? Yes, there will be and are already deals to be had, even for Honda. However, just that Detroit is doing a fire sale does not automatically translate into the same for Honda or Toyota. Yes, it may turn into that if things get even worse, but I would hesitate to apply Detroit's desperation unconditionally to a company like Honda. They are hurting, yes, but it's a bad bruise, which may not require as drastic a sales move as GM, Ford and Chrysler, who all have a stage IV cancer. |
|
I bought my 09 Fit Sport and I been approved by Honda Finance  Woodland Hills, CA. I signed everything, put $500 immediately and another check for $1000 that can only be used after two weeks. I thought the deal is done and final, but two days later I get a call from my finance guy requesting an additional down payment or a co-signer. I told him I will put another $1000 and to give me another two weeks. I really hope the Honda Review guy call me because I will give them the lowest score for the hassle they caused me. I should at least be compensated for this sudden change in the agreement. What do you guys think? Should I threaten them that I will give them the lowest score or tell them I wont be shopping there anymore. 
|
|
|
|
|
Replying to: cpryan (Dec 23, 2008 4:35 pm) Most Honda buyers are happy with invoice b/c they know they are getting a car with great resale value. To walk into a Honda dealership and tell them 10000 cash is a deal is just funny. While cash is king, I hardly call 10000 cash when talking about a Honda...that's more like loose change. Using cash helps a lot and I used cash and actually got the 09 FIT SPORT AT for 1500 off....this is where cash helps...you can help them meet their sales objectives etc...Still this was an unexpected deal and happened when I was looking at a pre owned FIT.... I am not sure why so many of us feel inspired to post a response to what seems like such an outlandish post... Even with the Big 3, try making your offer for the Pontiac Vibe for 10000 and they probably might not take it either, depending on how the car is equipped but just for fun, maybe you should try that next... good luck to you.....you might want to use a low interest credit card to pay for the remainder of the HONDA FIT and get some points while you are at it! 
|
|
|
|
|
Replying to: fullframe (Dec 23, 2008 7:11 pm) Listen, I do not want to be mean as I am sure you are very hard working and you just want to get your car and CA can be very expensive to try to live but it seems like you are operating on a layaway plan! Seriously though, before you walk into a dealership, you should know how much you are approved for...HONDA has online applications and approval...I do not know what went wrong but with all the horror stories about financing, it would be so good to be able to avoid it by either having cash our signing up with a credit union to loan you the money. Maybe you can put a stop payment on the check that has not been cashed yet? It just sounds like you have no car buying experience and they know it and they are taking advantage of you b/c they see some sort of opportunity.... This is a mess! Good luck and try to get someone to represent you like someone who has a lot of experience buying cars and let that person talk to the dealership. You need to know your credit rating and how much you are approved for b/c if you are a high risk customer, then it could be they want more cash from you but of course they should have not changed the deal midstream!
|
|
|
Replying to: absconfused (Dec 24, 2008 9:34 am) I thought the deal is done and signed, but this shit pisses me off that I have to come up with another grand. I'll give that dealer bad survey for sure, unless I'm compensated somehow.
|
|
|
|
|
Replying to: absconfused (Dec 24, 2008 9:28 am)  If. a couple of months ago, I had read someone's post where they were trying to buy a new Fit for 4000.00 less than the dealer paid, I would have thought it was a typo or someone trying to be funny. Not anymore. In the past few weeks, we have had people make offers on cars that were beyond ridiculous. Then they try to tell us how we should be grateful, given the economy to accept their offers? And they are SERIOUS! Last week I got an email on a used Infiniti G35 that was priced at (I think) 26,000. This guy thought we should take 5000.00 for it! The sky isn't falling folks, this is temporary! Merry Christmas to all of you!
|
|
|
|
|
Replying to: fullframe (Dec 24, 2008 10:17 am) the interest rate? dealer addons that you do not want? etc, ect... I do not know why a dealership would agree to give you compensation when they are trying to get more down payment from you and they are not stupid people so I cannot imagine this was an oversight by the initial finance person....the people who do the finance are pretty sharp usually.... well...best of luck to you but see what you can learn from this...don't think once you get this car you are out of the market for a long time...my 07 HONDA FIT SPORT was totaled and that is why I just got the 09 and a friend of mine got her car totaled about a year after buying it so you never know when you need to use your car buying lessons so try to read up on things and be more prepared next time ok? take care! |
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Honda Fit Prices Paid and Buying Experiences
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Honda Fit
Browse by Board
Browse by Topic
Today's Chats
