sed6
07-01-2006, 06:16 AM
I picked up my '06 SE sedan 3 days ago with just 4 mi on the odo here's how it came to be...
I decided to buy online through an internet manager after extensive research on edmunds.com (hadn't found this site yet). I solicited 9 different dealers in my state and got 8 email quotes back within 24 hours. 5 of those were within $150 of each other and 3 of those were local to me. I wrote all of them back with my best offer and asked them to come down a bit. The two that did were out of town. So that left me with three good offers in town, and one dealer who didn't write back.
I then contacted those three and asked for a quote on my trade in, a '97 Accord LX sedan with just 105k on the clock and a bunch of hail damage (yikes, I know) Of course they all wanted to see the car first.
At this point I had arranged, rather been approved, for financing with 5 different lenders; my bank, a local bank who held my last loan, and 3 others through lendingtree.com.
I then contacted the one dealer who I hadn't heard from. He's just 1mi down the road from my office and is where I purchased my '97 used several years ago. The internet manager politely told me he couldn't match my best offer but could get within $600. I was hoping to buy from him, for a variety of reasons (close, previous biz, reputation) so I arranged a test drive. After which we began to talk shop.
He wanted to know what I 'needed' for my trade. I didn't 'need' anything but told him $3k. He came back and asked 'If I can get you $3k can we make a deal today?' I told him he was off by $600 on his price and he said 'what if I can get you $3500?' I said sure. 5 minutes later the new car manager came 'round and said 'I drove your car, low miles, you've taken great care of it, but the body is rough (paint and hail), I can get you $2500 for it.' I told him he's too far off on his offer and added that I really wanted to buy from him so I can bring it here for service (read 'if I don't buy from you, you won't see me for service either') 'Well if I can get you $3500 can we deal today?' Sure I said. 'Lemme check' Okay. 'And by the way,' I said 'I've been approved for financing elsewhere, but if your GM approves that deal I'll give you a chance to finance me, no promises but you can at least check.'
5 minutes later we had a deal. $21,800 OTD (out the door) This included a paultry $49 doc fee, destination, TTL -plus- 15% tint, splash guards, trunk tray and the decklid spoiler. Subtract from that $3500 for my trade and my financed price was $18,300.
My visit with the F&I guy was easy. I was holding all the cards, and we both knew it. I politely declined all the extras he said I needed (paint protection, warrenty, vin etch, etc) and told his he was way off on the interest rate. Ultimately his interest rate was 1% lower than my best offer elsewhere so I took the loan through AHFC (American Honda whatever)
The internet manager told me they didn't have the car on the lot, but he would look for it on Monday. 'Not tomorrow?' I asked. He told me Saturday was his busiest day and he'd be lying if he said he'd have time to look. I found that very refreshing. Ultimately he couldn't find one locally so he ordered one up from Ohio and my car began it's life on Wednesday June 14th. It began its life with me on the 27th.
I'm happy with the deal I negotiated. By doing my research beforehand I began the process well informed and in charge. I really felt like I was holding all the cards when I was at the dealership. I could have walked away at any point in time and gone elsewhere. That kind of confidence at a car dealership was...invigorating!
Before we talked turkey I had told the internet manager about my research thus far so he knew he was dealing with a well informed buyer. He didn't try to pull 'any' crap with me. I felt he was very honest and forthright in all his dealings with me. He's the type of guy I would have as a friend. He even told me the part he liked best about his job was dealing with informed buyers like myself, said it actually made his job easier. I can't wait to get my CSI survey from Honda so I can give him all 5's.
For those in my area I purchased from Steve Bailey Honda, YMMV.
I decided to buy online through an internet manager after extensive research on edmunds.com (hadn't found this site yet). I solicited 9 different dealers in my state and got 8 email quotes back within 24 hours. 5 of those were within $150 of each other and 3 of those were local to me. I wrote all of them back with my best offer and asked them to come down a bit. The two that did were out of town. So that left me with three good offers in town, and one dealer who didn't write back.
I then contacted those three and asked for a quote on my trade in, a '97 Accord LX sedan with just 105k on the clock and a bunch of hail damage (yikes, I know) Of course they all wanted to see the car first.
At this point I had arranged, rather been approved, for financing with 5 different lenders; my bank, a local bank who held my last loan, and 3 others through lendingtree.com.
I then contacted the one dealer who I hadn't heard from. He's just 1mi down the road from my office and is where I purchased my '97 used several years ago. The internet manager politely told me he couldn't match my best offer but could get within $600. I was hoping to buy from him, for a variety of reasons (close, previous biz, reputation) so I arranged a test drive. After which we began to talk shop.
He wanted to know what I 'needed' for my trade. I didn't 'need' anything but told him $3k. He came back and asked 'If I can get you $3k can we make a deal today?' I told him he was off by $600 on his price and he said 'what if I can get you $3500?' I said sure. 5 minutes later the new car manager came 'round and said 'I drove your car, low miles, you've taken great care of it, but the body is rough (paint and hail), I can get you $2500 for it.' I told him he's too far off on his offer and added that I really wanted to buy from him so I can bring it here for service (read 'if I don't buy from you, you won't see me for service either') 'Well if I can get you $3500 can we deal today?' Sure I said. 'Lemme check' Okay. 'And by the way,' I said 'I've been approved for financing elsewhere, but if your GM approves that deal I'll give you a chance to finance me, no promises but you can at least check.'
5 minutes later we had a deal. $21,800 OTD (out the door) This included a paultry $49 doc fee, destination, TTL -plus- 15% tint, splash guards, trunk tray and the decklid spoiler. Subtract from that $3500 for my trade and my financed price was $18,300.
My visit with the F&I guy was easy. I was holding all the cards, and we both knew it. I politely declined all the extras he said I needed (paint protection, warrenty, vin etch, etc) and told his he was way off on the interest rate. Ultimately his interest rate was 1% lower than my best offer elsewhere so I took the loan through AHFC (American Honda whatever)
The internet manager told me they didn't have the car on the lot, but he would look for it on Monday. 'Not tomorrow?' I asked. He told me Saturday was his busiest day and he'd be lying if he said he'd have time to look. I found that very refreshing. Ultimately he couldn't find one locally so he ordered one up from Ohio and my car began it's life on Wednesday June 14th. It began its life with me on the 27th.
I'm happy with the deal I negotiated. By doing my research beforehand I began the process well informed and in charge. I really felt like I was holding all the cards when I was at the dealership. I could have walked away at any point in time and gone elsewhere. That kind of confidence at a car dealership was...invigorating!
Before we talked turkey I had told the internet manager about my research thus far so he knew he was dealing with a well informed buyer. He didn't try to pull 'any' crap with me. I felt he was very honest and forthright in all his dealings with me. He's the type of guy I would have as a friend. He even told me the part he liked best about his job was dealing with informed buyers like myself, said it actually made his job easier. I can't wait to get my CSI survey from Honda so I can give him all 5's.
For those in my area I purchased from Steve Bailey Honda, YMMV.