dandaman2883

If 4 miles on the odometer is new then yea...

I told them I was ready to buy right there, that day. Gotta give them the scent of blood (i.e. a sale), they are sharks afterall. You get them excited about making a sale and they go that extra bit further to get it done. Even though this guy through every line in the book at me.

1. That's the only one left!! They have a 5 floor garage and they have no more S2000's..... uhhh, i call
2. That lady that just walked put is going home to get her husband to buy that last one. This is pointless because how could he be sure she would come back.
3. Oh we only get 3 a month so we have to sell them at sticker. At this point I informed him how Maroone Honda offered $30,200 to beat the "Internet Price" Beach Honda gave me of $31,200. That got rid of that one.


I forget the rest of them but he stuck to his guns so I give him credit, but when you do your research they can't mess with you. It also helps that it was at the end of the month so he was probably behind on his quota.

CoralDoc

I call B.S.

A 2006 S2000's invoice price is $31,238 (including $595 destination charge). Tax on that amount (at 6%) is $1,874, plus about $100 for title and tag fees gives a grand total of $33,212.

If you paid $29,300 out the door (including tax, title and tag), that means you paid $3,912 less than invoice!

Was this a cash deal, or are you getting hosed by financing? Are you sure that price wasn't after your trade-in ?

LHP_Sailor1P

You forget that there are dealer incentives on the backside that would not be reflected on the invoice. A dealer also has to consider his cost of his floor plan (inventory). Destination charges, prep out, and all the other BS are value added add ons that are extremely inflated. True about the financing - might have got hosed there if anywhere. Not many people know the difference between a stated interest rate and the true interest rate that you actually pay.

Take it from an old car guy - invoice price means NADA. It is not the real cost.

Also a CPA so make sure you can amortize the stated interest rate to the term of the loan and the amount financed. Amazing how many times I have seen a 9% loan end up becoming a 18% loan running this test.

CoralDoc

[QUOTE=LHP_Sailor1P,Aug 30 2006, 10:21 PM] You forget that there are dealer incentives on the backside that would not be reflected on the invoice.

Take it from an old car guy - invoice price means NADA.

LHP_Sailor1P

Agree - perhaps knee high BS somewhere. Car buying is a game of numbers and TVM.

Darkwagoner

When wife gets home,, I am going to show her this ...Something is not right..

Darkwagoner

This is from Kate......

If I recall, back a few months ago, there was dealer cash on this car. It could have been reported sold to collect the money from Honda. The sale would have been reported to another person, if title work wasnt done, it would sell as new, dealer would have the extra $, and the customer ( you ) gets the deal.... The disadvantage is , that you will not get the notices and recalls direct from Honda. It it is true that you got that deal, CONGRATS.... If not then you are just as guilty of game playing as any dealer out there. Nobody likes to get their chain yanked.. Beleave it or not there are still some car salespeople that have honor and integrity...

Destination charges are NOT inflated or made up.. they are what Honda charges each dealer, averaged out over each unit. Dealer fees can definatly be excessive.. some at $795... but keep in mind that dealers employ alot of people who dont " generate income" and need a paycheck. I like to think that a portion of those fees goes to pay the part time cashier and operator whom make $8.00 per hour..
There is also the utilities ect.. that need to be paid.. Pretty much every one knows that dealers do not make their real money selling brand new cars..

Kate Hicks
Fleet Sales Manager
Pompano Honda

LHP_Sailor1P

Dealer fees are still SG&A, part of the cost of doing business. Agree that they will be in one way or another absorbed into the selling price but depending on volumes of sales units it depends if all SG&A is recovered or if a profit is made on the dealer fee charged. Personally I will not buy a car where that line item shows up on my invoice.

Destination charages are generally high comparative to what it costs to run a truck. I used to pay about $2400 from Chicago to Florida a couple of years back for FTL - couple hundred more if the truck was teamed. I think I can get more than 4 cars on a truck. I think most cars come into Tampa so that costs would be less.

Still from my experiences - 20 years in dealerships and 30 years as a car buyer the scams are geneerally in the F&I department. So its still the world of caveat emptor!