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Discussion Starter · #1 ·
Getting very close to making a deal for a 2012 EX-L. For the past 20+ years I've purchased my vehicles from private parties. But now that I'm going to be buying new, the thought of enduring the kind of sales blather like I'm hearing from friends and what they went through at the closing session, I'm already getting my defenses up. Reading of the experiences of others on this board has been a great help, but perhaps you have thoughts as to successful negotiating tactics you've used in the past, or maybe things you would have done differently if you could go back?

Main thing that comes to mind for me is to make absolutely certain the price I accept includes ANY/ALL fees. Don't want any surprises when sitting across from the financing person. Also, to my surprise, no one has even mentioned extended warranty pricing yet. Is that something they typically save and bring up near the end of the buying process. There too I'm thinking I'll have a firm offer in hand and if they balk, simply say "no thank you" and contact a more flexible dealer such as those mentioned here in other threads.

One dealer said it would take about 2-2.5 hours to close. Huh...?! Fair amount of paperwork I assume but that seems a bit excessive.

Any tips/insights/advice much appreciated!
 

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First, do not play the game the way they want to play it. You might want call the dealer and ask for their internet department. If they do, you can often negotiate the price over the phone and not have to worry about a salesperson trying to get a higher commission.

You need to know exactly what vehicle you want and how much you should pay for it. Do your homework before you walk in the door and you set the tone. Never, ever, ask the dealer for their best price. This is a very common mistake. The dealer has absolutely no incentive to give you their best price especially on your first attempt to get the lowest price. Tell them exactly which vehicle you want and how much you want to pay for it. Let them know you are there to buy a car and you do not have any time to waste.

It should not take more than 5 or 10 minutes to buy the vehicle. First ask if the salesperson can accept an offer on the vehicle. If they say no than ask to speak with the person that can negotiate. Do not play the game where they go back and forth with a manager in a back room somewhere. It is up to you to set the tone and lead the discussion. It is very important that they know they cannot yank your chain. Be strong and direct and you will be surprised how much fun you can have. I thoroughly enjoy the process but it took some time to get that comfortable dealing with these guys.

Negotiate the price of the car only and save everything else for later. Hopefully, if you are financing, you have already checked rates at your local bank or credit union. This is something else you should be prepared for before you walk in the door.

On a separate note if you really need to buy an extended warranty than you may be buying more vehicle than you can afford. The vast majority of problems will be discovered early and the real winners when you buy an extended warranty are Honda and the dealers selling them. Put all the money you would spend on extended warranties in an account for repairs and by the time you retire you will a nice chunk of change.
 

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Discussion Starter · #3 ·
I thoroughly enjoy the process but it took some time to get that comfortable dealing with these guys.
Now that's a great attitude! Not quite to that point myself, yet...


Hopefully, if you are financing, you have already checked rates at your local bank or credit union. This is something else you should be prepared for before you walk in the door.
I'm finding that the .9% rate for 36 months from Honda to be the best financing I've found, and I have already been "pre-approved" for that financing.

The vast majority of problems will be discovered early and the real winners when you buy an extended warranty are Honda and the dealers selling them. Put all the money you would spend on extended warranties in an account for repairs and by the time you retire you will a nice chunk of change.
That's very interesting. I always decline "extended" warranties for just about everything I purchase with the one exception of notebook computers (saved our company much $$$ over the years). But I was thinking that given these darned vehicles are getting more and more complex that perhaps an extended warranty would be worth the investment. Especially if I plan to keep it for 8-10 years or so (current 2000 Odyssey has 160k miles). I don't know how representative posters here are the larger car buying community but I get the impression that many (most?) do buy some form of extended warranty. I'll be doing some more searches here to get some more insight into the various lines of thought.

Thanks much for the input!
 

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I was thinking that given these darned vehicles are getting more and more complex that perhaps an extended warranty would be worth the investment. Especially if I plan to keep it for 8-10 years or so (current 2000 Odyssey has 160k miles). I don't know how representative posters here are the larger car buying community but I get the impression that many (most?) do buy some form of extended warranty. I'll be doing some more searches here to get some more insight into the various lines of thought.

Thanks much for the input!
Vehicles are getting more complicated and repairs, when needed, can be more expensive to fix, but the likelihood of needing a repair has declined as each year quality improves. Odds are you will not need it but many people buy them because they can not afford to take a hit. There are a lot of people that stretch their budget to buy a new car. Over a lifetime if you can afford an occasional problem you will be better off not buying them.

It sounds like you have already done a lot of research, good job. The better prepared you are and the more knowledge and confidence you display the less likely they will try to run you through the ringer.

Good luck on your purchase!
 

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I agree with bmacz06. I have a blast shopping for a new vehicle. A couple of things I'd add:

- For me, I find it easier shopping for OTD pricing b/c that eliminates any hidden fees or any discrepancies such as taxes, tags, etc.
- I find it more effective to call different dealers and speak directly with the sales manager. The other option is to talk/email to the internet sales team.
- Figure out how far you're willing to drive for the car and start with the furthest dealer and work yourself more local
- When you are happy with the price you're getting, you can either buy it from there or if you have a favorite dealership, give them the price you're getting and ask if they can match/beat it.
- I usually ask dealerships to beat a price by a couple hundred dollars at least (or maybe $500 initially). Anything else is not worth entertaining. I noticed in my last round of negotiations that most of the dealers stayed close to each other as far as pricing (beating each other by a couple hundred) until I found one dealer that was willing to go way down (beating other dealers by $1000). Then all the other dealers started really talking.
- I also make it known I'm calling different dealers so it would be in their best interest to hit lowest price. Otherwise the dealer would not win your business. I debate how affective this is but it doesn't hurt and you are being honest about it.
- Sometimes dealerships offer accessories to entice you. I wouldn't factor that into the pricing. For me lowest price is lowest price.
- It's another ballgame when you have a trade-in. I would look at kbb and get their trade-in value and use that as a target. To get true trade-in value, you have to be honest about the condition of your vehicle. Also, if you have a Carmax close by, drop it by their facility and get a quote which is good for 7 days. You can use that as a negotiating tool as well. If you don't like any of the offers you get from dealerships, just give it to Carmax. Just remember though, at least in this state when buying a vehicle, you only pay sales tax on the difference of your trade-in and the vehicle you are purchasing (when one dealership is handling the transaction).

I hope this helps other car buyers out there. Everybody has their own way of buying cars and their own tolerances. My wife hates buying cars and if it were up to her, she'd call two or three dealers and take the lowest price.

Good luck!
-Moto
 

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this is all good info... My wife and I are getting ready to buy an Oddy and we are looking at all our options. We have a vehicle we need to get rid of first but i think trading it would hurt us more than help.

This is a question for Moto and Jason: Where in the DC/VA/MD area is best to look for a Honda? I am located in NOVA now and we are willing to go as far north as southern PA and as far south as Southern VA...

Thank you for all the good info.
 

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The best deal right off the bat was Shockley Honda in Frederick. Not sure what you're looking for but they have an '12 EX-L w/ RES for $32,109 (w/out freight, taxes, tags, etc). I would have purchased from them except they didn't offer me that much for trade but in their defense they didn't see the vehicle but in my defense the vehicle was an '10 CR-V EX-L with only 10,200 miles on it. Practically brand new.

Ask to speak to Karen and tell her the one with the twins sent you. She was great to work with and would consider purchasing my next vehicle from her (as long as I don't have a trade :) ).

Good luck and not sure if that deal goes past the end of the year ('11) as your best deals are probably now until the end of the year. Let us know how it goes!
-Moto

this is all good info... My wife and I are getting ready to buy an Oddy and we are looking at all our options. We have a vehicle we need to get rid of first but i think trading it would hurt us more than help.

This is a question for Moto and Jason: Where in the DC/VA/MD area is best to look for a Honda? I am located in NOVA now and we are willing to go as far north as southern PA and as far south as Southern VA...

Thank you for all the good info.
 

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Dizzy, being in NOVA area you are in great spot because there is alot of competition between the DC area up to Baltimore. Obviously you will get the best deal through tomorrow but all incentives will end on Jan. 3rd, so it gives a couple days to start off the New Year on the right foot also.
 
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