Does Honda Ever Have Rebates/Incentives

[doitmyself]

I consider myself a very savvy new car shopper and have always worked at getting outstanding deals by finding out the invoice price, "secret" mfg.to dealer kickbacks, etc..

Salesmen hate me.

I have never bought a Honda and my general experience is that they don't have the great deals that U.S. name plate mfg. have (often many thousands off).

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

Thanks. And, no need to preach the used car purchase benefits. I do that also, and this will be considered if substantial savings are available.

 

[rjundi]

They never seem to have rebates but they do have dealer incentives. The problem with the CRV is it is extremely popular and they tend not to have the incentives on it.

 

[Vikas]

they had stellar deals for the end of 2012 model years on Accords but those were all direct to dealers. There were some specifically for new graduates and military persons.

 

[HTSS_TR]

Usually only the desperate manufactures would have rebate(s) to move their vehicles. Honda is selling well so they don't have rebate(s) directly to consumers, but they have dealer hold-back just like every manufacture. The dealer hold-back is usually amount to 2-3% of the invoice.

 

[AlienBug]

Correct. They can sell their cars, so no need to bribe consumers.

 

[Joe1]

Honda takes painstaking measures to keep supply commensurate with demand to avoid having to "dump" cars with large incentives and rebates. Also, they sell very little to fleets. This coupled with their reliability is one reason why they have excellent resale value.

Historically, the domentic automakers have had to contend with something called the "jobs bank" program. In a nutshell, this forced the corporation to pay assembly line workers full salary regardless if the line was running or not. This constrained them from curtailing production to balance supply with demand. They were essentially forced to overproduce and use huge incentives and rebates to move product. This was a contributing factor to the poor resale value.
Things may be different in the post US Taxpayer buyout/bailout era, but I have not been following the situation closely.

The lack of incentives by Honda is construed as a plus by many.

 

[DuckRyder]

Most of their incentives are in the form of lease deals and finance rates.

You can see what there is by zip code on the website.

You know about truecar.com right?

 

[CMMeadAM]

Originally Posted By: HTSS_TR
Usually only the desperate manufactures would have rebate(s) to move their vehicles. Honda is selling well so they don't have rebate(s) directly to consumers, but they have dealer hold-back just like every manufacture. The dealer hold-back is usually amount to 2-3% of the invoice.



Toyota dealers usually deal anywhere from 6-10% off the sticker of Camry and other popular models, along with significant financing incentives. I would hardly call Toyota "desperate." Last I saw, the Camry outsells the Accord by a country mile.

 

[HTSS_TR]

I didn't say anything about dealer discount, I'm only talking about rebate. Does Toyota have rebate(s) directly to retail customers ?

 

[DuckRyder]

Originally Posted By: CMMeadAM
...Last I saw, the Camry outsells the Accord by a country mile.


to rental companies...

 

[doitmyself]

Thanks, so far. Maybe I am no longer savvy???

I did NOT know about truecar....thanks!

To be honest, I haven't bought a brand new vehicle in over 9 years, so I am getting up to speed (again, considering used 1-3 year old vehicles too).

I really only care about the bottom line. Whether it is a manufacturer incentive to the dealer or a "rebate" that the dealer keeps does not matter. I wonder how many pay too high because they are suckered by the offer of cash rebates, "free" gas, etc..

We can pay cash, IF that results in the best money management scheme. I am also trying to consider true cost of ownership more this time. I.E., better mpg might offset higher purchase costs, as might insurance, etc..

I kind of knew why Hondas don't have incentives. I was just wondering if anyone had tricks up their sleeves that I was unaware of.

Joe1, please explain "The lack of incentives by Honda is construed as a plus by many."

EDIT: Thank you Mr. Critic!

 

[The Critic]

Carwoo.com is a good resource.

 

[fdcg27]

I bought my '12 for more than 5K off sticker.
I bought it in November, so it was a leftover, and Honda was offering significant incentives to dealers to help them move the remaining '12 inventory, which wasn't huge by mid November.
.9% financing was also available and this seemed like a better option than paying cash.
Timing is everything.
My strategy was to email every dealer within a hundred or so miles and ask for a quote.
Some wouldn't play, but of those who did, the first responder provided the best price.
So, after four months and 5K of Accord LX-P ownership, I am happy and satisfied.
Try the email approach.
Let dealers give you their best price, or allow them to identify themselves as stores to ignore.
Finally, if you're looking at a CRV, you should also look at a Forester.
The Forester is also selling well, so discounts won't be huge, but you might prefer the car.
We bought our Forester over a CRV based upon our observations in driving the two.

 

[doitmyself]

Thank you fdcg27,

The Forester is on my short list. My wife has health issues (car accident) and ease of entering/exiting the vehicle is a priority. The Forester's lower mpg (Fuelly site)is a con and, to me, awd seems like potentially more ownership cost(repairs)...maybe?

Do you have any idea whether your direct e-mail campaign is better than the truecar or carwoo techniques suggested above?

Congratulations on your purchase success. That is what I attempt to do also.

 

[fdcg27]

Based upon my experience, carwoo was pretty worthless, and I did try it.
Don't know about truecar.
WRT AWD, it would be nice to have where you live, the Subie AWD system is well developed and trouble free and fuel economy differences in typical use should be minimal as compared to the CRV.
If you want AWD, there's no contest, since Subaru's system is really good and really durable.
Unless you'll put a whole bunch of miles on the thing each year, the difference in running cost will be pocket change.
Drive both and see which you prefer.

 

[DuckRyder]

You can use edmunds.com to e-mail 4-5 dealers. That can work too, works better if there are 4-5 dealers reasonably close.

 

[eljefino]

Get some trade magazines. I forget the name of the biggest one, it's something bland like "Dealer weekly". Also read Detroit News. Get facts like number of days inventory. In the back classifieds are ads to dealers that include flyers that guarantee floor traffic; you'll see scratch off tickets, fake keys, all the gee-gaws.

Also figure out Honda USA's zones, how exclusive they are, and if several Honda dealers around you have the same corporate owner. For example the mid-south Toyotas all go through a middleman who adds pinstripes and other junk and jacks up the price. If you find yourself an hour away from a different zone, seek out a dealer out there for your car. Shop online!

Hondas hold their resale so well if I were in the market I'd buy new too! If you do it craftily and hate the car in a year you might be able to get out nearly scot-free.

 

[spk2000]

I have a friend that flew from Toledo to South Carolina because he was quoted a price of more than $2,000 off the best local deal he could get. Made it worth the flight there and drive home. he bought a Honda Accord and I am not sure how he found them but probably took a lot of research time and effort.

 

[Joe1]

Originally Posted By: doitmyself

Joe1, please explain "The lack of incentives by Honda is construed as a plus by many."



Incentives and rebates tend to have a negative impact on resale value. If one attempts to sell a two or three year old vehicle while the manufacturer is offering heavy incentives and rebates on the current year model, this will surely impact the prices in the used car market. If the used car was purchased new with heavy incentives, it may not be such a big deal, but if the vehicle was purchased new without incentives, it could be detrimental to the owner of the used vehicle if the new model has incentives.

However, if you're the type of person to hold on to a vehicle until the wheels fall off, this may not matter much.

Honda has a long history of being tight with rebates. One can be reasonably confident that if they purchase a Honda, they will not have to contend with heavy incentives or a glut of used cars from the fleet market when it comes time to sell.

 

[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.