Priceless!!

 

UPDATE: This is why it pays to shop around. Started shopping locally today (Buffalo, N.Y.) & got the $17,900 (after much pulling of teeth) with a $200 REFUNDABLE deposit. On top of that they're letting me know of the hard cutoff for the May shipment so I know exactly when I have to order to make it!! Thanks for all of your help on this, with a $200 refundable deposit I see no reason why I wouldn't place the order.

One last question, can I arrange the financing with Honda now? That would be my last chip to bargain with against the original Pa. dealer of who could get me the better financing.

Thanks!!

 

from what I can tell Honda finance does not let the dealers play much in the way of games. I got 5.59 good credit, ehhhh more than $4k down on 11-28-08.
I did notice that other guys posting didnt get as good for honda with very little down. Bout the only guys who did significantly better did so thru their credit unions. I would just have them run your credit for now and talk to a finance guy at the dealer.
But,
2-3 weeks before your car comes in, check your own bank, capitol one online etc so you can throw out a % that they have to meet or beat, if their first %# sounds high

 

Did you do this before you placed your order? I'm trying to make the sale contingent on a decent rate. I got 3.9% for the Wife's Odyssey on 9/07 & they said they take care of existing Honda Financial customers for rates. They initially offered me 4.9% but I pushed them & they did 3.9.

I don't want this to be a dealbreaker when the car arrives as I'm not willing to pay more than 5.9%. I'll have $5000 down & my credit is decent, not top tier but not bottom either. myFICO says the National Average for my approximate score is 9-12%, which would kill this deal in 2 seconds flat. This is why I want to make this deal contingent on that. I don't want to do something stupid (to me) & take 12% because the car is in front of me. No offense to anyone that may have done that.

 

just guessing but the odyssey was an incentive rate.We got 1.9 er 2.9 (dont remember exactly, but it was one of those) on 08 civic EX last spring.

Fit has never had incentive finance rates.

Do not worry one second about not having a frickin 820 FICA my brother
You should be golden with $5K down, that bumps you up to top tier right there as you will NEVER be upside down on your loan.

Finally tho
I would suspect it will be difficult to lock in a rate now, especially because the economy is so f***ed up.
Sit down with the finance guy at the dealer, say you see my rating, and because I am laying down a $5K downstroke, I should get Honda's best rate at time of delivery, correct???????

So Buffalo New York? Great area for snowmobiling!!!!!!!! Some wonderfully nasty Lake effect snow storms Yum : )

 

Before I read this reply, I was on the phone with one of what seems like my "Final 3 (in 3 different states)" dealers (unless the Pa. one won't move off the $500 non-refundable then he is done) that wanted to earn my business. He told me I could be pre-approved now & unless I do something crazy that rate should stay. I agree with you though, with the economy in shambles anything is possible.

Yes, the Ody had the promo rate of like 2.9-5.9 or something like that. I knew that the Fit would not have a rate bracket quite that low but everyone is desperate for business so I figured I could do OK (as in no more than 5.9%). My plan is to try getting pre-approved at possibly all 3 at the same time to see what they come back with & then push them to do better (worked last time). The winner will get my business or if they are all the same, the local dealer who has the best price/deposit scenario. The third is in Ohio who is offering $18,000 even with a $500 refundable. I have purchased here before & they did a great job with financing. They are also possibly able to get the car sooner (they were willing to make some calls) so it should all be over within 2 weeks due to the cutoff. If I miss this, I'll probably not buy a Fit.

 

UPDATE
The Pa. Dealer would not move off his non-refundable deposit so we had to part ways (thanks to everyone for their advice on this) but at the same time a Mass. Dealer who was the only one to insult me with a full price quote (yes, I find that insulting in these troubled auto sales times) now is aggressively seeking my business. They have been begging me to call them but I will only call when I have what I want in writing. They possibly will sell me the car for $17,800!! Not sure yet but we'll see...

 

Same here. They never cashed mine and I got it back.

 

Latest Update
Wow, it feels like a soap opera! Got a confirmation on $17,800 so that's good but now the final hurdle (which is the scariest part), financing. Heard from my N.Y. Dealer that rates start @ 5.99%!!! This of course scares the hell out of me because this was my ceiling on principle. I could bend to 6.9 but no way I will do more than that because that is just crazy to me & I don't want a new car that badly. I'm still going to see if I can make decent financing a contingency for the sale but I'm beginning to have my doubts...

 

When I purchased my vehicle... the salesman and finance rep showed me a page from their folder supposedly given to them by Honda Financing that sets strict APRs for each range of credit scores. From 710 and above... it was 6.24%. It didn't matter whether it was 36, 48, or 60 months... 6.24%. I got really annoyed when the finance rep went on to tell me that he "honest to gawd... would have gave me 3.9% if I had come a week earlier because they were running their special.

Anyway... good luck. It's good to see that you realize you do have options, giving yourself a "ceiling" and are shopping around.

 

Yes, I do have options am shopping around & did set a strict ceiling. As emotional as this is for me (I really want the car), I have to suppress it to make sure I don't get taken. Btw, I think the 3.9 is bogus.

 

Too many people I know are unhappily stuck with a car that's not the color they wanted... didn't have the options they wanted... an APR that is much higher than their friend's with similar credit... and on and on.

Those dealers need you more than you need them. It will all be worth it when you finally get the car you wanted at the price you wanted. Hope to see pictures soon!

 

$17,800 with TT&L?

 

Pics only if APR is right!! I'm too stubborn to do any other way than with a decent APR (to me is 6.9 or lower).

 

Nope $17,800 with destination for Sport Manual Navi. My sales tax is 8.75 so will be higher than pretty much anywhere else. The total with everything would be $19,583. Sales tax is $1,566 on a $17,900 purchase price as the $17,800 dealer wants $300 in doc fees whereas the $17,900 one wants $45 in doc fees.

 

UPDATE
It's over, I've done some math on the APRs over 5 years & I can't deal with the high APRs of today & what that will end-up costing me so I've abandoned the Fit purchase. Thanks to all who helped!!

I've decided on an '02-04 Accord EX instead that I will finance at the crazy rate but I'll only be borrowing $6-8K & not have to plunk $5K of my own money as a deposit. I'll be selling my current car ('97 Civic LX) which will cover my down payment for a used Accord.

I'll still long for a Fit but it just wasn't meant to be.

 

Good luck friend... maybe one day

 

Maybe.

 

I got something in the mail yesterday about 0% financing specials on Civics and Elements. I'll have to double check it tonight, there was one other car. Pretty sure it was Accords.

 

Thanks. I see that Honda does have 5.9% on CPO Accords for a 60 month loan. Not sure if I'll go the CPO route but I bet a few months ago that was 2.9%...