financing incentives

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ProspectiveBuyer

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Has anyone else gotten a good reduction off MSRP for agreeing to finance? Looks like I could be able to get $35,500 out the door for a Touring if I agree to financing (purchase, not lease). Just wondering if there are any catches I should take into consideration.
 
Is that $35.5k OTD including tax and license? If yes, that’s an awesome price. If not, then you are not getting a good deal.


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Out the door. I've also heard of people getting the car for $25-28k purchase price on a lease but haven't been able to verify that. Seems hard to believe, but so far two people mentioned this price range.
 
With a lease, the financing company gets the Federal Tax credit and not you. As this is a purchase, you get to keep that so subtract it from your OTD price.
 
The best I could do was $1,000 off the MSRP, but that was literally within 2 weeks of when the car first came out.
 
ProspectiveBuyer said:
Out the door. I've also heard of people getting the car for $25-28k purchase price on a lease but haven't been able to verify that. Seems hard to believe, but so far two people mentioned this price range.
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Honda made a statement couple months ago that they would pass the tax incentives to customers on a lease deal, the incentive varies in different states and you can get that number on Edmunds forum. For example in CA the lease cash is 7300, so if you work the math to match the current lease offer then the list price is $33875, and the sales price for the lease is $26575
 
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Why do we quote the OTD price? States have different tax rates so how can we compare the pre-tax price w/o title and DMV fees? Anyway, I negotiated my price based on financing. The salesperson said the price would go up if I didn't take the financing. If I use my sales tax rate of 8.9%, the price you got is better than mine. I haven't seen any catches for taking the financing. You can pay off the loan right away if you wish. The only catch I can see is if you have bad credit and don't qualify for the 0.9%
 
ProspectiveBuyer said:
Has anyone else gotten a good reduction off MSRP for agreeing to finance? Looks like I could be able to get $35,500 out the door for a Touring if I agree to financing (purchase, not lease). Just wondering if there are any catches I should take into consideration.
Click to expand...

What is the deal breakdown? What is the actual price, tax, etc. It’s a good offer, but tax rates vary from state to state so it’s hard for us to know the actual price. Honda financial is offering incentives to dealers on these vehicles. There is no catch, unless the dealer forces you to pay for their add one.
 
Depends on the market. In the North East we currently have:

$1500 dealer cash for cash or private finance
$6900 dealer cash for leases
0.9 for 60 months or 1.9 for 72 months

Best number I have so far is 30800 for Honda financing plus tax/title/doc fees. It does include about 300 of dealer added stuff (wheel locks, mud guards, trunk tray).

Based on my money down and what I can get financing on my own, it's a wash if I take the extra money but pay a higher rate.
 
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