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
2413 messages, Last post on Nov 05, 2009 at 7:34 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
I think I did OK. I just bought a new 2009 Fit Sport Auto with Navi and VSA for invoice price ($18947). Here is the breakdown: $18947 vehicle price $25 electronic vehicle registration $151.65 doc fee $1195.23 illinois sales tax (6.25%) $143.43 city tax (.75%) $143 license and title $20605.31 out-the-door total It was a clean deal with no financing, no accessories, no extended warranty, etc. I've seen quite a few posts on here claiming that they got the Fit for thousands below invoice. However, you cannot compare 2 deals unless you know everything about every aspect of the deals. For example, maybe the price of the vehicle was $1000 below invoice, but if you bought an extended warranty for $1750, financed at 25% interest, overpaid for some accessories and let the dealer steal your trade-in, then you probably got ripped off. The dealers are geniuses when it comes to hiding the true costs from you but making you feel like you got a good deal. Anyway, we love the car and are very happy with it. We had considered waiting for a few months, but decided to go ahead and buy since they had what we wanted and agreed to a good price. I've been watching for a few months and no new Fits have come into the local dealer's inventory. I think Honda is running down the inventory here in the USA and diverting these vehicles to other markets where they are more popular. If gas hits 3 bucks per gallon, the Fits will start selling at a premium again like last summer (that is if you can find one). |
|
|
Replying to: chas0215 (Jun 09, 2009 1:51 am)
|
|
|
Replying to: 07_ls460 (Jun 09, 2009 8:28 pm)
|
|
|
|
| my older cousin just bought a honda fit base black auto with protection pack and window tint out of door for $12,683.81 with an air check for a 96 toyota corolla.and he bought the keyless entry pack for $400 as well.that dealer is old but they say they are number one in texas.sounds like a good deal. | |
|
|
|
Replying to: chas0215 (Jun 10, 2009 2:10 am) It includes what might represent Holdovers, calculated into the price.
|
|
|
|
Just made a deal for a brand new Honda Fit 2009 Sport Trim Level w/ manual transmission(without navi). Edmunds.com was right on about everything! They did not pay me to say that either. What a blessing this site is. My price including destination charge was 15,968 in Savannah, Georgia at Grainger Honda. The nearby Edmunds.com premiere agency Hughes Honda also  matched that price; but could not beat it. My OTD was $17,661. I used this website for: searching used cars, ceritified cars, new cars, TMV pricing rocks! How to negotiate: PERFECT information. Everyone MUST read the artcle of the "under-cover" salesman. It changed my whole perception of the purchasing/negoitating process. Car salesmen; although fully trained to take advantage of customers, actually deserve a lot of sympathy and respect for what they do. Be nice when they approach you. You can handle them if you study here at Edmunds.com. I was always amazed at how little bits of advice spared me from making a deal I didn't want. I am a young adult woman- 40ish- who had never purchased a new car by herself. I did all shopping, test-driving and negoiating by myself. I only called my husband once on the cell phone. I was torn between the 2009 Matrix Sport Level and the Honda Fit 2009 Sport Trim. Although I was completely sincere in my struggle, it made a great negotiating tool for motivating the sales folk in my favor. I got one saleman to offer me a Toyota Matrix 2009 manual for the match price of a Sport Trim level Honda Fit! ( $3000 discount from INVOICE!!!) I ended up not taking that offer because it demanded I purchase that day. I was hungry and tired, but had brought food(a tip was never negotiate when hungry.) I ate the food in my car and felt more clear-headed. I turned around and turned that offer down, much to the shock of the salesman. The car he offered did not have a sunroof and it wasn't right. I felt a bit too clostrophobic without the sunroof and the salesman said he couldn't get the Matrix I was looking at with a sunroof. I turned down this amazing offer because it was worth a $3000 loss to be able to just go home and think about things. You should have seen his face! Even though he said the offer was only good that day guess who called me the very next day to try and work it out...........I have learned to never, EVER settle if an offer is "only if you buy today!" The next day I went to the local Honda agency and was able to test drive the manual Honda Fit 2009. Incredible difference!! I was shocked. I had tested the automatic Fit initially and didn't like the cheapness of the interior, but the ride of the vehicle was also not as smooth as the manual!!. So that day I got a price quote for the manual 2009 Honda Fit. The salesman knew I did research already(I kept making a big show and discussion of all my Edmunds knowledge about prices and features), and that I knew what invoice vs MSRP pricing was, so he didn't pull any tricks. My quote was $273 above invoice, but $400 below the TMV pricing! This price was also $1,500 below MSRP! Then I went home and promptly contacted the Edmunds-recommended premier agency that was 155 miles away to see what they could do(I had been interacting with them all along via the Internet-another tip from the "undercover salesman author.") The premier agency could not beat that price, but only equal it. I knew I had the best deal!! The one new piece of advice I would add to this wonderful website is about this whole phenomeneon of "building" the new car you want online. Watch out! For example, I thought I could buy the manual Honda Fit 2009 Sport Trim, in any of the snazzy colors featured on the website. It turns out it is all based on actual production. Sometimes customers create cars that can't be built too. I will have to wait 3-4 weeks for a RED Honda Fit manual to be built and arrive...thus causing the expense of renting a car for several weeks to be incurred. I can not describe the thrill of negotiating successfully! I have learned why people do not do research, nor struggle with making comparisons. It was a lot of work and it required doing some math problems. Having the figures handy, figuring the costs, researching the value of products requires time investment, and can make a person's brain hurt. There were times when I had to call local mechanics, auto body shops and other professional experts to get their opinions about features that salesmen try to put in the deals. It also takes self-discipline to not get swept up into the emotionality and high-pressure some of these sales folk use. I hope this share has helped those who have read. Thank you Edmunds.com!!!
|
|
|
Replying to: toscabella (Jun 10, 2009 5:36 pm)
|
|
| as i understand it, the purpose of the dealer holdback is to cover the dealer's interest expense on the financing for their inventory. in other words, the dealer has borrowed money to purchase the inventory sitting on their lot, and they must pay interest on that borrowed money until the vehicle is sold and the money is repaid. if a vehicle sits on the dealer's lot for more than a few months, the holdback is consumed by interest. in my case, my white fit sport w/ navi sat on the dealer's lot for over 4 months before i bought it, so my best guess is that my dealer broke even in selling it to me at invoice price. they were probably just glad to get the vehicle off the lot to make more space for the pilots and odysseys that they make more money on. | |
|
|
|
Replying to: toscabella (Jun 10, 2009 5:39 pm) I enjoyed your post very much! Since I am short on time, I want to make a couple of quick responses. I agree that everyone should read the undercover salesman article. It is completely empowering and puts you in the driver's seat once you understand how the dealershp and salesman are viewing you, what they are thinking about you, and what they are saying about you etc. etc, You might want to post the link for others if you have it handy. Second, while I am glad you are happy with your deal, I can tell you that the majority of the dealerships used to laugh in your face when you mentioned Edmunds. It is a place that us laypeople go and it really does not give the total picture of the costs of the car, just an illusion so really when you talk about Edmunds, a lot of times it shows how little you know about the industry, not how much you know. Instead, I keep the info in my head by never bring papers or quote Edmunds. They make money I believe from car company ads and so they are not really giving away any secrets. Now, as you can see, Honda is using Edmunds as a tool in the "true cost to own a Fit" ad on TV... Third, your experience with the Matrix dealer is exactly the positive result from when you are truly in the frame of mind of not being desperate for that one particular make or model (they smell it on buyers when they walk in)...Being open to various makes and models is always good advice as a way to get the best deal in terms of actually seeing who offers the best deal, but it also keeps you from feeling desperate when you are really test driving and sincerely just looking so to speak. It is very liberating to walk in and out of dealerships not feeling like "Oh i have to get a deal on this make and model, I wonder what price i can get" This way it is in your hands...gee i am not sure what I want, I will think about and decide etc, etc...So the big rule is NEVER FEEL DESPERATE when car shopping or it will SHOW! Fourth, your idea about having food with you is very good too because hunger can mess everything up! Fifth, I would never try to build a car from scratch since you get your best deals from current inventory, good point! Sixth, I think a same day deal can be ok if it is your suggestion. I have done that in the past. I tell them I will buy that day if they can give me the price I want...It worked two times for the last two FITS. There were other factors involved but the key element was that they KNEW I was READY and that I was not playing with them...they know when they have a serious buyer. If they sense the buyer is not ready to buy that day, they tend to not offer very good deals sometimes (I am no expert so if I am wrong, i am only speaking from my perspective) Seventh I agree with your last point about self discipline and not getting caught up in the emotion. It is important to be friendly to make it an enjoyable phone call, email, or visit but it is also important to tell yourself you will not get caught up in emotion which is why I have said in past postings that it helps me to know what the car is worth to me and have a number that they need to get to and if they do not get to that number, I try again somewhere else but by standing your ground and setting a rule for yourself, you cannot get caught up in something that you are sorry for later. Finally, there is an overstock of FITS so while you did a great job and i hate to even dampen your celebration, you have to understand that your research combined with the current high inventory is what allowed you to get a deal you are pleased with. This situation could not be replicated if we were not a recession. I got out for 17000 for my 09 sport Auto...pure LUCK!!!! timing is everything. The main thing is that you are now comfortable and know how to buy a car and so next time if we are not in a recession, your skills will serve you well b/c you will need to find the person who wants to sell you a car that month more than someone else! thanks for the post! sue 
|
|
|
|
|
Replying to: chas0215 (Jun 11, 2009 3:37 am) The 5-7% number is listed in Edmunds.com website under "Tips for Buying a New Car." The number $5000 is approximate( a knowledgable friend of mine tossed it at me one day in conversation) and as I stated in my post, I wasn't claiming it was accurate. I was inviting others who might know for absolute certainty to share. I do think it is a GREAT question to ask and consider. Just exactly how much profit are these corporations making off of consumers? I think it is obsecene that car salesmen often work 50-60 hours per week , not even receiving an hourly wage and get small "bonuses" when the corporation is making a killing on each sale. And buyers should be intensely aware about this whole "holdback" issue when negotiating for the purchase of a new car. Don't ever feel guilty about asking for $500 below invoice as a starting point for negotiations.
|
|
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
