I'll second this. There's no way you qualify for better financing with a higher purchase price if you didn't qualify at the lower rate.

 

Hey Paul56,

There's a really strong chance you can "return" your extended warranty and keep the 0.9% interest rate. If the Stealership won't do it, you can call Honda USA or contact Honda Care when your warranty pack arrives in the mail.

They may even be interested in hearing the scam that the dealer pulled!

I'll go one further, if you choose to pursue this, you may even be able to get Honda Finance to remove the warranty and refinance the loan at the appropriate principle amount which would lower your monthly payment.

Personally, I'd go to the Stealership first, ask to talk to a customer relations person (don't bother asking for your salesman) and tell them your concerns. If they won't budge, tell them you'll post up horrible reviews on every forum and review website known to man. Also let them know you might have a chat with Honda USA.

Sorry if I sound fired up, cuz I'm not. I just don't like seeing people get taken advantage of, and I think they tapped right into your unestablished credit score. Good luck, and let us know what happens.

 

No worries... I'm not going to shoot you or anyone else.

I'm not totally convinced that I was screwed because in the final analysis Honda end up getting the same amount of money... just in a different way.

I don't think I would have qualified for the 0.99% anyways and here is why...

I'm a Canadian in Texas on an L1-B 7 year work visa. While I have great credit back in Canada I have zero credit and a zero credit rating here in the States. My Canadian credit rating means nothing to the banks and finance outfits down here... they view me as someone just starting out with zero.

So given that situation I was pretty convinced they would not offer financing and I would be paying cash; however, after being up front with the dealership about it they said they would make it work. I thought yeah... make it "work" just like my buddy with 18% for his car financing. I guess the difference there is he put very little as a down payment while I went in with 10k down.

I'm not sure why getting the EW lowers the interest rate...

-3.5% for 2 years total with the EW

-or-

-10% for 2 years total without the EW



In any case, I'm happy about the situation.

I got a decent interest rate, nice warranty, great car and have the opportunity to build credit in the States... I was fully expecting to pay cash to walk away with the vehicle given the lack of established credit here.

 

Well thx guys... now lets talk business... how do i negotiate with the dealership to lower the cost of the fit closer to the invoice price.???? I was thinking using ford fiesta as a competition.... Also make the fit have some negative outlooks on it.

So for dealership sent me a quote with the amount of invoice + shipping fees. luckily they aren't selling it to me in sticker price

 

Here's how I did it:

-Decide exactly what car you want (base or sport)
-Go to Edmunds.com, punch in your car, trim level, color, and zip code.
-It will show you what the MSRP is, Invoice, and TMV. TMV is the average price people are paying right now. This is important cuz what dealers would accept 6 months ago may not be acceptable to them now.
-Start by negotiating for the TMV price (or lower).
-Then they'll say "we can do that" eventually, and ask for the other fees to be itemized.
-Start negotiating some of those to be reduced, round the OTD price down to a price you like.
-If you're gonna use their 0.9% financing, tell them that before you negotiate cuz they get a kickback from that and they'll factor that in.

In my case, I paid 17,850 for the car (sport auto), TTL and Doc fee (u can neg that down), all out the door for just below $20k otd.

1 year ago, guys were getting the same car for $18k otd, so as you can see, it's all current market driven.

 

silly question to ask in a FIT forum. seeing as how most opinons are bias because we own them, but i'll be nice and play along.

i overall love my fit. One of the main issues that bug people are the seats. To me though being a 5'4 asian guy i find nothing wrong with them. i guess if i would have to REALLY put a down side to it, it would probably be the road noise. personally though i came from a '93 H22A honda prelude so loud noises don't really bug me. i actually find it quiet. i know, imagine that. my second choise before i bought the fit a few months ago was actually the ford fiesta

 

First go to Truecar.com. Read a little bit. Great price is what you are shooting for.

Go to the dealership, do not act like you are in love with any car. They will say we may not be able to get any more of these. Ans. I better not buy one, I may not be able to get parts or the Kia Soul I really like is not having any problems. How about are the parts coming from Japan really going to tested for radioactivity?

If you go for a test drive, mention that the seats do not feel comfortable, you do not like the blind spots in the mirror. Every nice thing the salesman says counter with a negative! Well almost everything, use a little judgment here.

They will say if I get you the right price will you buy it today. The correct answer is no I want to test drive a Ford Fiesta first, I hear they are really nice and they are making great deals.

Absolutely do not buy a car on your first visit to the dealer! Go home and wait for the salesman to call.

Go to more than one dealership get them bidding against each other.

It's a game learn to play it and save a few hundred dollars. You need to absolutely convince yourself you really do not want to buy the car. Unless of course the price is right.

Remember he is not "your" salesman he is the dealers salesman. His job is to get as much money from you as possible, your job is to keep as much of your hard earned money as you can. DO NOT be afraid to hurt the salesman's feelings or offend them that is what they get paid for. You do not have to be nasty, just firm, very very firm.

I bought one today $1619 under factory invoice, patience, skill and luck.

JIm 0311

 

Gas driving to and from the dealership ain't free. Internet sales dept is paid by the sale not the margin on the sale. Just use Internet dept and make your life easier. Also don't buy 2011 fit. Get v6 'stang instead.

 

Hey Lyon, do you like the V6 Mustangs? Have you driven one of them? If so Tell me about it or where I can read whatever it is that turned you on to them... I've heard good things about them and liked the first V6 I ever drove which was a 1964 Lancia Flamina that sold for $14000 back then...

 

Lol TC just google "2011 v6 mustang review" this thing is worshiped. They are only a tad slower than the (ancient 4.6) 2010 v8s. I would love to boost one, I figure in 3 years or so I'll have done everything I can with the fit and move on to another fun 'underdog' platform. I'd much rather build a v6 that rapes stock 'coyote' v8s. Anyway I'm never buying a new car again so it'll be great once depreciation kicks in.

 

I am afraid that if I start looking I could screw up my retirement years... I don't think it is the kind of car that a person that gets one is likely to drive sanely unless some old fart gets one on a lease and you know all of the old farts don't like to shift gears... I think the time is getting close to where I am going to need something that fits my arthritic body better and I'm not going to be happy driving a white 4 door Buick... That seems to be the choice of the very old folks around here..

 

I have not bought a car in a long time, many years. I thought the internet would be a great way to buy a car. Easy to get several dealers bidding against each other, no running around dealing with salesman.

Not so here in SW Florida. I sent out many inquiries and got almost all automatic responses. I received two responses from actual people and they were looking for over invoice prices! I saved several hundred $$ by doing it the old fashioned way.

Maybe it is different in other parts of the country?? JIm 0311

 

CR-Z is the way to go Im getting rid of my fit for one doesnt compare to a fit!

 

Some people deserve to live in an endless cycle of depreciation, finance charges, and fail.