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trying to do some homework before getting blind sighted at the finance office

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  #1  
Old 07-28-2014, 06:39 PM
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trying to do some homework before getting blind sighted at the finance office

hey guys,

i got my VIN, and a ETA of this thursday for a white EX-6MT.

now I need to try to get my ducks in a row and keep a unwavering attitude into the dealer this weekend.

since living in Arizona, we have some outrageous doc fees... something around 300 to 500 dollars. I been trying to do some heads up room to help myself understand what is my final purchasing price OTD; to combat the doc fee as I think this is the only floating variable to the bottom line of the purchase; as taxes and lic/reg fees are pretty much set by formula from the state. I was cleared from a local credit union for more than enough to buy the Fit. does the below seem attainable?

Invoice 17435
Destination Fee 790
MSRP 18225
target discount from MSRP -350
trunk tray 100
Price before Tax and Fee 17975
taxes 1528
Title and Reg 450
Dealer doc fee 400
OTD price 20353
 
  #2  
Old 07-28-2014, 08:24 PM
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Say no to Extended Warranty. Say no to Credit Life Insurance(they won't call it that in the meeting since they try to confuse you). say no to GAP(get that from insurance). Say no to the Pro package even if they try to force it. Say no to paint protection service... get it washed and waxed at a place.

READ THAT PAPERWORK. Look for all the numbers, verify that they aren't trying to cheat you on the price you arranged, since they will try to do that.

Ignore any distractions they throw at you. I had them send several people into the office doing stuff and bending over(man and woman) behind the finance guy. I wonder if that's a tactic...
 
  #3  
Old 07-28-2014, 09:38 PM
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Received a notice in the mail today that Honda was offering .09 for 36 months or less and 1.9 for 37-60 months on '15 Fits.
Sounds good.
 
  #4  
Old 07-28-2014, 10:24 PM
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Unless Honda financing is much better than your credit union go with the credit union. Separating the financing from the purchase eliminates a lot of games that the dealer can pull.

Beyond that, the important number is the one you write on the check. Document fees are simply a way of making unsavvy buyers pay additional profit after a sales price is agreed upon. As long as you keep the focus on the final number you write on the check they can play all the games they want and it won't make any difference. They will attempt to steer you away from this and talk about the before-fees number, but don't let them.

Also, be prepared to stand up and walk out if things aren't the way they should be. The dealer wants you to be emotionally invested in buying this particular car. You are in control of this situation and there are more cars and more dealers out there if this one fails to satisfy.
 
  #5  
Old 07-28-2014, 10:53 PM
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I got my Fit in Arizona also and only got charged 149.50 in doc fees.
 
  #6  
Old 07-28-2014, 11:20 PM
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pipcorona,

which dealership did you goto?
 
  #7  
Old 07-28-2014, 11:28 PM
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Lawley Honda in Sierra Vista.
 
  #8  
Old 07-29-2014, 09:03 AM
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Originally Posted by ETFitRS
hey guys,

i got my VIN, and a ETA of this thursday for a white EX-6MT.

now I need to try to get my ducks in a row and keep a unwavering attitude into the dealer this weekend.

since living in Arizona, we have some outrageous doc fees... something around 300 to 500 dollars. I been trying to do some heads up room to help myself understand what is my final purchasing price OTD; to combat the doc fee as I think this is the only floating variable to the bottom line of the purchase; as taxes and lic/reg fees are pretty much set by formula from the state. I was cleared from a local credit union for more than enough to buy the Fit. does the below seem attainable?

Invoice 17435
Destination Fee 790
MSRP 18225
target discount from MSRP -350
trunk tray 100
Price before Tax and Fee 17975
taxes 1528
Title and Reg 450
Dealer doc fee 400
OTD price 20353
I live in NY and bought a Fit yesterday in NH because that was the only place I could get the color I wanted. Dealers in both NY and NH charge around $400 for basically nothing. It's just an add-on called a "Documentation Fee," or whatever else they call it. I mean what do they do? They give you a bill of sale.

The dealer in NH had to collect NYS sales tax, but I will have to register the car myself. It's like the destination charge. Why should we have to pay for the dealer to get cars delivered?

At this point in the Fit production, it is too new and too scarce for the buyer to have any leverage at all. I hate buying cars. I always feel dirty afterwards, like someone has taken advantage of me, and we both knew it at the time. Smiling and shaking hands, with each one knowing exactly what is really happening.

By the way, you didn't mention a trade, but if you are trading anything, don't expect to be given any credit for anything above what came with the car when new. I really had no choice to but to trade my car so I could get to the dealer, so I traded it. I am satisfied with what I got, but all the money I invested in accessories didn't count at all, which was no surprise to me.
 
  #9  
Old 07-29-2014, 12:37 PM
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Try to work out pricing before you arrive via email, not phone. Or if you do phone have them email it to you. Once you're at the dealer they have the home turf advantage and switch into "trying to screw you" mode more than they are in advance. I have decided to only deal with the "internet sales" people as my experiences with the standard floor salesmen have been godawful. Internet sales sends the agreed pricing over to finance in advance so there's very little tricks, just maybe some attempted upselling. And if you don't want them to stick add-ons all over the car for more money you must make them agree to that in advance.
 
  #10  
Old 07-29-2014, 12:45 PM
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Originally Posted by amy_wilhelmina
Try to work out pricing before you arrive via email, not phone. Or if you do phone have them email it to you. Once you're at the dealer they have the home turf advantage and switch into "trying to screw you" mode more than they are in advance. I have decided to only deal with the "internet sales" people as my experiences with the standard floor salesmen have been godawful. Internet sales sends the agreed pricing over to finance in advance so there's very little tricks, just maybe some attempted upselling. And if you don't want them to stick add-ons all over the car for more money you must make them agree to that in advance.
I found that the internet salespeople, while sounding good, are suddenly "out of the office" when you arrive for an appointment. It is just a scam to get you to come in so they can try and work you over. One dealer said they had a Yellow one in stock, and if it was sold by the time I got there, they could get another within 24 hours. Obviously a lie, and when I went in, fully expecting the switch-aroo, that is what I got. Now, the yellow was not available to anyone till August. Trade-in changed, price changed, financing changed. Anyway, I walked out and got one somewhere else in Phoenix. (actually, Mesa. 50 mile drive, but worth it)
 
  #11  
Old 07-29-2014, 01:48 PM
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Originally Posted by Stingray
I found that the internet salespeople, while sounding good, are suddenly "out of the office" when you arrive for an appointment. It is just a scam to get you to come in so they can try and work you over.

Anyway, I walked out and got one somewhere else in Phoenix. (actually, Mesa. 50 mile drive, but worth it)
Wow, sorry about your experience! That has never happened to me. But yes, if they tell you something that is not likely hang up and try another dealer, that is a great point.

Also, you have a yellow one???? Can you post pictures in a new thread?? That is awesome!!
 
  #12  
Old 07-29-2014, 02:49 PM
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My experience with "internet sales" is that dealers just see it as a way to get a phone number out of the customer so they can start pumping that approach. I've not found one who will put any number other than MSRP on an email. In fact, most replies are generic "boilerplate" emails that invite me in to "test drive the car I want" even if my inquiry was about a car they didn't have in their inventory.

Remember, even if the car is "hot" today this won't last forever. A sale lost is a sale lost and in a month or two dealers will be working a lot harder to move Fits and the cars will probably have better build quality. The one tool at a buyer's disposal is his or her feet. The more people who walk out on unscrupulous deals, the better the situation is for everyone.
 
  #13  
Old 07-29-2014, 03:27 PM
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guys,

thanks so much for the tips and advice... some reason, when I went to buy a house, I didn't feel much pressure, but going into buying a car the first time, its sorta nerve racking so im just trying to do what I need to get ready.

after reading a lot of the posts, I think I have an idea to the degree of how I want this played out.

yes yeah, im turning down every single insurance, offer, paint protection or anything else that ads to the cost of the the car. my intent is to pay no more than 20300 out door, with that being the highest doc fee I will swallow.

and yeah, the Fit isn't a Skyline GT-R (which I have feelings for), and its a mass produced econo box; so I will not hesitate to say no and walk out. I think the only problem I have after that is getting back the deposit; which I can just simply ask for a check, or a call to honda corporate if they don't cooperate and try to hold me hostage at the finance office.

its just so strange that we have to get our minds right before walking into the dealers...
 
  #14  
Old 07-29-2014, 03:32 PM
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Originally Posted by GeorgeL
My experience with "internet sales" is that dealers just see it as a way to get a phone number out of the customer so they can start pumping that approach. I've not found one who will put any number other than MSRP on an email.
What I am referring to is not filling in an online form, but instead looking at the staff list/directory for the people whose title is Internet Sales or similar.
 
  #15  
Old 07-29-2014, 04:04 PM
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I think in some states they're limited on what they can charge for Doc fees.
 
  #16  
Old 07-29-2014, 04:28 PM
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Originally Posted by ETFitRS
guys,

thanks so much for the tips and advice... some reason, when I went to buy a house, I didn't feel much pressure, but going into buying a car the first time, its sorta nerve racking so im just trying to do what I need to get ready.

after reading a lot of the posts, I think I have an idea to the degree of how I want this played out.

yes yeah, im turning down every single insurance, offer, paint protection or anything else that ads to the cost of the the car. my intent is to pay no more than 20300 out door, with that being the highest doc fee I will swallow.

and yeah, the Fit isn't a Skyline GT-R (which I have feelings for), and its a mass produced econo box; so I will not hesitate to say no and walk out. I think the only problem I have after that is getting back the deposit; which I can just simply ask for a check, or a call to honda corporate if they don't cooperate and try to hold me hostage at the finance office.

its just so strange that we have to get our minds right before walking into the dealers...
You're right. It is nerve racking because you know they want to get all they can out of you while giving you as little as possible, all the while smiling and thanking you for your business. I went through that for three hours yesterday, and I'll be getting another Fit for my son on Thursday, since he's working all day. He was going to go on Friday, but the salesman wants to get every sale he can by the end of the month. He's giving us a $50 gas card. That offer is good for July only.
 
  #17  
Old 07-29-2014, 05:01 PM
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Originally Posted by Zute
I think in some states they're limited on what they can charge for Doc fees.
Yes. Here is some 3-year-old data, the freshest I can find that shows all states:

Average Dealer Documentation Fees by State

Again the easiest way to think of doc fees is as "dealer profit." Focus on the final number, the amount you pay. Playing with intermediate numbers is just a way of confusing you.
 

Last edited by GeorgeL; 07-29-2014 at 05:03 PM.
  #18  
Old 07-29-2014, 05:20 PM
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I completely agree with Amy--arranging a firm price by email is the way to go, IF that's possible. It might be more difficult with a brand-new car like the Fit, since the dealers can't guarantee that the car will still be there when you settle on a price, which leaves lots of room for the bait-and-switch. But if it's a slower-moving car and they have lots in stock, it can be very effective. I've only bought one new car so far, 7 years ago, but I did all the negotiation via email and the actual buying process was VERY easy with no efforts to upsell. (It helped that I paid cash and had no trade-in, too.) Needless to say, I'm somewhat apprehensive that my luck won't be so good the second time around. ;-)
 
  #19  
Old 07-29-2014, 06:22 PM
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Originally Posted by tmport
I completely agree with Amy--arranging a firm price by email is the way to go, IF that's possible. It might be more difficult with a brand-new car like the Fit, since the dealers can't guarantee that the car will still be there when you settle on a price, which leaves lots of room for the bait-and-switch.
What I did is agree on pricing and THEN when it was nearing the lot I put a deposit on it, fully refundable at time of pick up if I wanted it back, or apply as down payment
 
  #20  
Old 07-29-2014, 07:16 PM
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Originally Posted by SilverEX15
Dealers in both NY and NH charge around $400 for basically nothing. It's just an add-on called a "Documentation Fee," or whatever else they call it. I mean what do they do?
NY law limits doc fees to $75.... if they're charging more than that you should report them to the DMV or AG as it's illegal. The 3 dealers I dealt with had $75 pre-printed on their sales forms.
 


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