So if the adds say 29,300 has anyone got them to take another grand off?? or is that basicly as low as they go?? plus tax and crap is llike 2 grand right? so 31?? not to bad considering Schaumburg honda told me 2 months ago it'd be 34/35thous out the door.

 

Invoice including destination is $29,785, so they must be getting some type of dealer incentive - which means other dealers must get that, too. Undoubtedly this is the typical "loss leader" type of ad - but it has to help in negotiations with other dealers!

 

http://www.car-prices-costs.com/2003-Honda-S2000.html

Ultimate invoice is $28,807

 

It is mentioned someplace else in this thread, but Honda has a 3% holdback on its cars. The 3% is calculated against full MSRP, so there is nearly $1,000 holdback on an S2000. If the dealer does not get in trouble with Honda they get a check (quarterly, I think) from Honda for the holdback on all the cars they sold during the prior period. So the dealer COULD sell you the car for invoice or less and still make money. If they get paid quarterly then the last couple of days of the quarter might be the best day to deal, since they have to wait the least amount of time for the holdback.

Dennis

 

If you guys in Chicago want an S2000, e-mail me. mark@internetleases.com I work for an independeant leasing company in Schaumburg and I can get and lease the car at invoice. $29,745. I just bought myself a Suzuka Blue one and I have built a great relationship with a chicago-land dealer and he sells them to me cheaper than anyone else can get it for. THIS IS NOT A JOKE

 

DWynne, thanks for the clarification on the holdback. I've seen a variety of bits of info on holdbacks - one I saw today said Honda's is only 2%. But in any event, it surely supports their ability to sell at published invoice and still make money.

 

I based the 3% on what Edmunds says.

http://www.new.edmunds.com/advice/incentiv...back/index.html

Has the holdback percents for the various car makers and an explanation of how it works. Of interest is the holdback goes down if the car has been on the lot for more than 90 days (so they say).

Dennis

 

Any recent updates on chicago pricing? I really appreciate this thread, as I believe it gives everyone increased bargaining power!

 

I have recently negotiated with two Chicago area dealers - Honda in Joliet, and Jacobs Twin in Chicago. PM me if you want the details - but I was able to secure quotes for invoice on an '03 and a bit better pricing on an '02. I was happier with the experience I had with Honda of Joliet - Kim Torenabi (sp?) is the Internet manager and her husband owns the dealership.

 

No ads the last week or so, and I am currently travelling and don't get my Trib delivered to me...

And I think Honda of Joliet is generally being recognized as one of the better dealerships to deal with in the market. As always, your mileage may vary, but check here for an overview of the Chicago dealers/market.