Im paying cash for a New Honda CRV EX. How much should I pay?

[SmackII]

Im in Florida,and dealres are fluctuating in price.What is the best approach,and how to deal with sales people? First time buyer. Thanks.

Alex

[curtis73]

Dealers can sell cars as low as invoice price and not LOSE any money on the sale, but of course they want a sucker who will pay sticker price.

Don't be afraid to ask if there are any rebates on the car you're looking at, and don't be afraid to walk away. I'd worry if it were a Viper or some limited edition that you might not find again, but CRVs are plentiful enough that there will be another 10 at the dealership next week.

If you really want a certain option package, paint color, and trim, then be prepared to pay a tiny bit more or wait longer. so the first thing you can do to help is to select something you want from the lot that is already in stock. Ordering a vehicle doesn't give the dealership all of their money right away, and legally a customer can change their mind. Now the dealership has a one of a kind vehicle that has to be paid for up front and they're stuck with it. Honda has a bit different way of dealing with this than others, but its all pretty similar across the board. If you desperately want a certain option set and you find one that's missing one or two, the dealer can add it. Hondas especially. If you find everything you want but the CD player and alloy wheels, pay for the difference in price and they'll add them. It doesn't usually work the other way around, though. You can't save $500 by asking them to swap out the alloy wheels for the steel cheapies. It might happen, but doubtful.

Another route you can take is to drive several of the CRVs on the lot, pick a color, and an option package. If they don't have that combo on the lot, they can search other Honda lots for the car you want. There is a good chance they'll find it and can have it there for you very quickly. Chances are that dealership owner is in possession of two to five Honda dealerships in the region, so a dealer trade isn't even necessary. Its the same owner and it all comes out in the wash. They can probably locate, transport, and prep the car in as little as a few hours, but certainly within a day or two.

Shop late in the week like Friday or Saturday. If possible, shop late in the month, too. Many dealerships will take a few sales for less money at the end of a sales period to boost the numbers. That raises the number of units sold without dropping the average profit per unit very much. We actually sold a few cars at invoice on a Friday or Saturday just to boost numbers after a good week. I bought my car on March 25th which was the last Saturday of that month and I got a specialty car for $200 over invoice. It works.

Buy a new car buying guide that includes invoice pricing. Only a select few offer this, but it is your best playing card. If you know invoice, and they know that you know, it cuts to the chase. They don't like it because they know they're not going to make as much money as they'd like, but when the negotiations start, let them know that you know invoice so the negotiations start from there. The cars that I've bought, I just made an offer that went something like this, "OK, you're paying $21,564 invoice for the car, so I'll give you a fair profit of about $450, or a nice round $22,000." They'll probably laugh and say that they need more, but they just want more. You can always stick to your guns and walk away. Chances are they'll call you two hours later and say OK. If they don't, go back in the next day and re-negotiate. Its not a matter of what you should pay, rather what you think is a fair deal somewhere between invoice and retail (sticker) price. They are sometimes less willing to deal with a cash sale, but its mostly because they don't get as much money out of it. They get "thank you's" and commissions from the lending agent, so a financing or lease sale continues to make money for them down the road, but you can counteract that by using some good old fashioned green cash. Make your deposit with green backs and remind them that as soon as you sign, you'll go to the bank and get a cashier's check for the balance. For security reasons they don't like to have tons of cash on hand, so paying "cash" isn't really the way to go. Instant money is a happy day for them and they like cashiers checks. Stick to your guns on negotiating, and remember this. They would rather make a sale for a little profit than not make a sale for zero profit. Sure, someone else will come along and buy that car someday, but when they have a fish biting on the line, they will reel it in. They won't just throw the rod in the water because the fish is too small.

OK, a quick summary.

1) pick up a buyers guide at the news stand and do research first. Know invoice pricing before you sit down to negotiate. The invoice prices won't be perfect since they always change over time and geographic location, but you'll be within a couple hundred bucks of the truth.

2) Preferably, go on a Friday/Saturday close to the end of the month. There's one coming up soon

3) Don't settle for something you don't want, but try to find what you want from current stock. The major stuff like paint color, engine, transmission, and interior trim can't be changed, but floormats, accessories, and options can easily be swapped out as part of the deal.

4) Take enough green cash to make a deposit of 10% or so.

5) If you can't find what you want on the lot, ask if they can locate one on another lot.

6) Don't hesitate to leave and come back another day. They are there to make sales, and you are one. If they don't give you the deal you want, just go to another dealer (and let them know that) They know that if you walk out of there with their offer, you'll go somewhere else and they will for sure beat that price. If the first dealer is sticking strong to $1000 over invoice, you better believe that another one will give it to you for $800 over, and they'll kiss your butt doing it.

Have fun! I know its an exciting thing, but don't get too excited and make a regrettable mistake of jumping in too fast. Take you time. They hate that

[Schister66]

You said that you were going to pay in cash right??


DON'T...you won't have any records of it. Pay w/ a check if nothing else.

[Cyprus106]

werd ^