Sup all. Long time forum member here, asking for some advice. I've been runnin' around some Honda dealers for the past few weeks, and I'll be doing the same tomorrow. I've finally been able to set aside some money to purchase an S2k. This is pretty much my first big buy, so I'm excited and nervous at the same time. I tried using the search function, however to my dismay it sucks balls. I've been told that I should offer "invoice +500" as an offer. How does that sound to you all? Is it possible to get it under invoice? Also, what's a good target Out the door price (out the door refers to the final price, correct? plus tax and tags?) i should make sure i don't go over? I'm so antsy, but I know I shouldn't rush things. The last thing I wanna do is get screwed over. I've settled for getting and '05 model. Color? Not quite sure yet.

-jd

 

Check out the fatwallet post on how to negotiate a new car.

http://www.fatwallet.com/t/24/444610/

 

invoice+500 is IMHO way too much for an '05 model. Try to get invoice-500.

Bring calculator with you and double-check all numbers before you sign anything. Make sure that payments are in agreement with your expected OTD price. A good approximation formula:

monthly payment = (OTD price / term) + (OTD price * APR)/24

Dealers love to slip expensive features like extended warranty or LoJack into the deal after you're done discussing the price. Be on the lookout. Better yet, find out _before_ going to the dealer whether you need those features and how much you are willing to pay for them.

 

wow, the fatwallet link is really helpful. i wish i hadn't walked into the dealer yet, and had just done everything over email correspondence.

esmith, in your formula, what does the number 24 refer to?

 

24 is just a number that gives you a good approximation. In fact, in the 5-10% APR range you will get even better approximation with 22.

For example: $20000 loan at 7% for 5 years: monthly payment = 20000/60 + (20000*0.07)/22 = $396.97.

Exact calculation ( http://mathforum.org/library/drmath/view/67057.html or http://www.edmunds.com/apps/calc/Calculato...tion=basic_calc ) gives $396.02.

 

Thanks for the input. It's been a lot of help so far, especially the link to the fatwallet thread.

 

yes, you should definitely shoot for invoice - 500.

 

Does anyone know where we can check on how much each state charges for licensing?

 

How many dealers are within a reasonable distance of you (I consider that 150 miles, but whatever)?

I recommend not to offer, but make them offer, and compete for your business. Email the fleet managers or intenet sales departments of a numbr of dealers asking them for their best price on the car you want. Take the best price offered, and use that to let the remaining dealers offer to beat it.

You can do it quick via the internet and get a competitive price -- they're bidding for your business. Bought our last two vehicles this way and got great prices with low stress, and no time at the dealership negotiating -- just showed up to pick up the car.

Now, if you like negotiating, more power to you ...

 

I found several dealers via email negotiation who would sell for $28,989.