Does Honda Ever Have Rebates/Incentives

[HTSS_TR]

Originally Posted By: cptbarkey
you are frankly wasting your time trying to "best" a dealer. they will sell the car at a loss only typically when it is advantageous to them. either they make money on the financing end, or the whole price, or the trade in. consider yourself an expert all you want at wheeling and dealing a new car dealer, but in the end you are the one forking over the money to them. not the other way around.


As mentioned by fdcg27, the easiest and possibly the lowest price on a new car is getting a quote from several dealers by email.

I bought a new 2012 Camry last year for my friend's sister by email, of about 5-6 responds 1 dealer had the lowest price by more than $500 less than the second lowest, the highest price was more than $1500 more than the lowest.

She had pre-approved loan from her credit union, we went to dealer to pickup the car and spent less than 1 hour for paper works, she didn't pay anything extra other than tax and license fee plus $35 doc fee.

 

[rjundi]

This shows what is up:

http://www.edmunds.com/car-incentives/

 

[cptbarkey]

Originally Posted By: HTSS_TR
Originally Posted By: cptbarkey
you are frankly wasting your time trying to "best" a dealer. they will sell the car at a loss only typically when it is advantageous to them. either they make money on the financing end, or the whole price, or the trade in. consider yourself an expert all you want at wheeling and dealing a new car dealer, but in the end you are the one forking over the money to them. not the other way around.


As mentioned by fdcg27, the easiest and possibly the lowest price on a new car is getting a quote from several dealers by email.

I bought a new 2012 Camry last year for my friend's sister by email, of about 5-6 responds 1 dealer had the lowest price by more than $500 less than the second lowest, the highest price was more than $1500 more than the lowest.

She had pre-approved loan from her credit union, we went to dealer to pickup the car and spent less than 1 hour for paper works, she didn't pay anything extra other than tax and license fee plus $35 doc fee.


interesting story. its not unique and smart shoppers shop that way. unless you are a broker though, do not consider yourself (the OP) an expert or a salesman's nightmare because they think they are outsmarting them. its absolutely positively the worst attitude and hours and hours of wasted effort agonizing over FORKING OVER the money anyway.

 

[fdcg27]

Not sure what you're getting at.
The buyer who walks into a store having no idea what he should pay for a given new car is in a bad negotiating position from the start.
As HTSS_TR noted, though, there is a significant spread between what area dealers are willing to sell any given model for.
The dealer who sold me my Accord made around $300.00.
There were other dealers shooting for more than a grand net.
Since the various dealers had no way of knowing who else was in play, the dealer who really wanted the sale offered their best price via email, and they got my money.
Offers of included "lifetime" maintenance mean nothing to me, since I can do the required scheduled maintenance myself and it costs very little, plus it's more convenient to do the work in your own garage than to have to schedule an appointment and take the car somewhere.
This is the only way I'd negotiate for or price out any new car.
I'm not about to hang around a dealership for hours trying to beat down an offered price, especially when the dealer knows far better than I what they actually need to get out of any given car.

 

[Vikas]

The ultimate question is, do you want to find the best deal so that you can brag to all your friends or do you want to find the best deal for yourself? Obviously, you do not want to be taken by the dealer but in the end you have to make your own decision if the price you pay for the car you want at the time you are making the deal makes you comfortable. Otherwise, if the next month you see somebody else get the same car cheaper than what you paid, it will destroy you!

One of the good resource is the edmunds forum or model specific forum where people disclose the actual prices paid in specific geographic area. You use that to figure out what you can reasonably achieve. You still need to use the usual techniques such as shopping at the end of month/year/model etc, not getting confused by trade-in, not looking at the monthly payment etc. But since you are savvy, that is given. Even after you make your best deal, you still need to make sure you don't fall for the final guy who convinces you that the most reliable car you are buying in going to put you in the poor house unless you buy their extended warranty and all the paint is going to fall off without the dealer applied paint protection and it will be rust bucked in few years unless you buy $1100 rust protection! You would be surprised how many rational people end up blowing it at the end!!
I bet somebody is going to write a reply to tell me why he purchased the extended warranty and how it was completely justified. Keep it to yourself, you don't need to justify it to the world!!

 

[eljefino]

Beware there may be a trap for the cocky shopper. I'm not saying this to OP but something I occasionally remind myself.

Also the old saying that there is a fool at every negotiation, if you can't see him it is you.

 

[fdcg27]

The shopper has the stopper, though.
He just needs to keep his wits about him and know when to walk away from a losing hand.
Walking can be a very effective negotiating technique.

 

[doitmyself]

Some good debate here. fdcg27 pretty much has me pegged on my shopping preferences. Why give the dealer an extra $1,000 instead of keeping it in your pocket?

Vikas, I see a hint of resentment from you against those that brag about making great deals. I concur, and my intent to save $$ is for me only. I also realize that the salesman needs to make a living also. I have never bought an extended warranty, but those can usually be had for about 1/3 the original asking price and with the increased complexity of today's cars, I'm starting to wonder if they might make sense...maybe (I always self insure). My tranny rebuild 2.5 years ago cost $1,700.

Nine years ago, Edmunds had a simple formula for buying new cars. You determine the dealers actual invoice cost. You learn about consumer incentives. You learn about manufacturer to dealer "hidden incentives". You research the package that YOU want. NO UPSALES. You do the math and offer the dealer $300 to $500 over that bottom line price (the salesman's commission).

On the opposite end are people who gloat over getting a car $500 under MSRP, but could have gotten it $1,500 under with a bit of effort. Those are probably the same people that try to save $20 a year on frugal oil purchases

. Penny wise, pound foolish.

As already said, the locale and brand/model pursued makes a lot of difference. In my town, I have always saved $1,000's by going a half hour away to shop.

Thanks guys for some lively discussion and some tidbits of today's car shopping methodology. Again, I am asking about Honda in particular and if the Edmunds formula above is still relavant. Or, what techniques are useful today.

 

[fdcg27]

A factor to consider is that floor plan rates are presently very low, so dealers may not be in any great hurry to move inventory.
In a high rate environment, the cost of keeping a car in stock is a real incentive to reduce asking prices as needed to move the metal.
Also, manufacurers seem far more willing today to adjust production to more closely match demand.
This is why you don't see rebates and lease steals quite so often anymore, although after getting killed on unrealistic residual values in the past, the captive finance arms are also much more conservative in lease terms offered than was once the case.
Free or cheap financing is more a reflection of the cost of borrowing to the captive finance arms than an incentive, although it is widely offered.
Like you, I'd prefer to keep as much money in my pocket as I can.
Bragging about the deal you got is only a side benefit, and should only be used on loudmouths who think they know what they're talking about but don't have a clue.

 

[VicVinegar]

From what I saw when shopping last year, TrueCar is nearly worthless now. A couple years ago, you could use TrueCar to get a real solid price right up front. I used to check it regularly to see if there was a deal that was tempting. They would list invoice price, "dealer price", and even holdback on the site. Then they got sued, and all of that went away. Now you get a "target price" which in my experience, was not very competitive.

As others have stated, your best bet is to canvass some dealers with email to get some prices. Then work from there. Use boards for the car (pretty much every car has one) and people will usually be sharing sale prices. Depending on the model, Edmunds Prices Paid forums can help too. Absent any info, you can usually find the invoice price at least, and use that as a barometer. A hot model, you probably want to be within a few hundred of it. A regular old model? Shoot for under.

 

[cptbarkey]

bragging about a depreciating asset is in of itself stupid. make 5% on a stock instead, sure i might be impressed, but thats still just gambling.

either way, make a decision, enjoy it. if someone else manages to get a better deal, live with it or dont live with it. I used to hate reading the edmunds prices paid for that exact reason. you would see that some guy over in cali got a camry for 16k, where in your town the best deal is 19k. well move to cali and enjoy the extra tax benefits and high gas prices. you cannot win. they always win when you sign the dotted line.

 

[fdcg27]

It isn't a depreciating asset, it's a tool.
It is a common mistake to classify a car as an asset.
It isn't, rather it's a transportation appliance and a durable good.
Most of us try to get good deals on our tools, just as we do on our motor oil and other consumables.
Purchasing a car is in no way comparable to purchasing shares of stock.
When you buy stock, you have nearly perfect current pricing information, and you'll never get screwed for more than a few cents per share.
A potfolio of shares is nice to have, for those who have had enough income and have planned well enough to have one.
For most folks, a car is a required piece of equipment, assuming that they want to be able to get to work and to the grocery store.
A new car is also probably less expensive to own on a lifetime cost per mile basis than a used one, unless you buy a used fixer-upper and value the time spent in keeping it usable at zero.

 

[HTSS_TR]

Originally Posted By: cptbarkey
bragging about a depreciating asset is in of itself stupid. make 5% on a stock instead, sure i might be impressed, but thats still just gambling.

either way, make a decision, enjoy it. if someone else manages to get a better deal, live with it or dont live with it. I used to hate reading the edmunds prices paid for that exact reason. you would see that some guy over in cali got a camry for 16k, where in your town the best deal is 19k. well move to cali and enjoy the extra tax benefits and high gas prices. you cannot win. they always win when you sign the dotted line.

I didn't bragging about the low price that I got for my friend's sister. I just post about buying a new car with online option.

I think most people hate going into a dealer and spend several hours negotiating.

The easiest and least painful is email several dealers around town then call the dealer you like to deal with to confirm/negotiate the final price before tax and license.

Ideally, buyers should get pre-approved loan from local bank or credit union and get a cashier check before go to dealer to pick up the car.

I was a little surprise to see the price differences for the exact same car from 3-4 dealers within 20-25 miles.

When I bought my S2000 in 2003 I did the exact same way, emailed several dealers to give them the color I like and asking how much they can sell it for. I got several replies and pick the lowest price quote to call to confirm. I came to that dealer for deposit to order the car and wait few weeks to pick up the car. Got cashier check from a local CU and get out of the dealer in less than 1 hour, without no extra charges such as paint sealant, leather protection ... or anything else.

 

[itguy08]

Originally Posted By: doitmyself

Are there any secrets to getting better deals on Hondas? In particular, I am looking at a base model 2 wheel drive CRV.


Sure. Don't buy one. Their cars are not that great, reliability is average, and prices are high. You can do better elsewhere if saving coin is your goal. And have a car that is just as reliable as a Honda is fabled to be.

 

[doitmyself]

I'm all ears, assuming you know what my needs (not wants) are.

Also, keep in mind that I do have a few other vehicles in mind. I have yet to find one that is perfect in all aspects.

 

[SLCraig]

Originally Posted By: itguy08
Originally Posted By: doitmyself

Are there any secrets to getting better deals on Hondas? In particular, I am looking at a base model 2 wheel drive CRV.


Sure. Don't buy one. Their cars are not that great, reliability is average, and prices are high. You can do better elsewhere if saving coin is your goal. And have a car that is just as reliable as a Honda is fabled to be.


I understand what you're getting at but I can't think of a vehicle with a better reputation in that class. I think CRVs are mighty fine little SUVs. Have never known anyone with one to not like it.

 

[Hokiefyd]

That's why we bought ours. Can't speak highly enough about it. I became interested in them from a few people at church who have them. One person totalled their 2007 CR-V and they bought a 2010. So we bought our 2008 used in 2011. My wife's parents liked our 2008 so much, they bought a new 2011. And a co-worker liked our 2008 so much, he bought a 2012.

 

[itguy08]

Originally Posted By: doitmyself
I'm all ears, assuming you know what my needs (not wants) are.

Also, keep in mind that I do have a few other vehicles in mind. I have yet to find one that is perfect in all aspects.


I don't know what your needs/wants/preferences are so I won't guess to what would suit you better. In the small crossover segment (what the CRV is), you realy can't buy a bad one from one of the major manufacturers. Similar to the midsize sedan segment. Can't buy a bad one.

My point was don't get hung up on Honda "quality" - it's no better or worse than the rest. That's pretty much a fact from places that rank qualiy. Buy what you like and try to get the best deal possible on that. Life's too short (and I know I spend way too much time in the car) to buy something you regret.

 

[spk2000]

I very rarely know anyone who admits that the vehicle they purchased was a mistake even though it may have a boatload of problems. They either fix them and look the other way or ignore it and say it is normal. Honda's are fine vehicles I have owned 1 but I must say they require as much maintenance as any to keep them on the road. They will last a long time but will still require the necessary maintenance.

 

[raffy]

You might have to wait till the next economic downturn to get good incentives on a Honda! Around 2008 Honda was offering great dealer incentives due to the economic "crash" that happened in 2007, and this was a major factor in my purchasing a Ridgeline.