2nd Generation (GE 08-present)The New Fit... Generation specific talk and questions here.
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I don't think there is much profit in a Fit, so Honda is reluctant to offer many deals. When I bought mine, there was .9% for 5 years on Civics. (this is in Canada where Civics are made), there was also a Honda loyalty bonus of $1000 and $500. if you bought a stick. This applied to all Hondas. The dealer said he was desperate for incentives on the Fit but nothing was coming.
I don't think there is much profit in a Fit, so Honda is reluctant to offer many deals. When I bought mine, there was .9% for 5 years on Civics. (this is in Canada where Civics are made), there was also a Honda loyalty bonus of $1000 and $500. if you bought a stick. This applied to all Hondas. The dealer said he was desperate for incentives on the Fit but nothing was coming.
So I see you bought back in April. Just read article in USA Today (Small used cars aren't big sellers as gas stays cheap - USATODAY.com) that said small cars are in low demand right now (I know the FIT is really popular and this might not apply to it) so I'm hoping Honda will have some future financing deals, maybe when there is a greater supply of the 2010s on dealer lots
So I see you bought back in April. Just read article in USA Today (Small used cars aren't big sellers as gas stays cheap - USATODAY.com) that said small cars are in low demand right now (I know the FIT is really popular and this might not apply to it) so I'm hoping Honda will have some future financing deals, maybe when there is a greater supply of the 2010s on dealer lots
Don't just hope, give them a ring or send them mail:
For further assistance, feel free to contact Honda Automobile Customer Service. Business hours are Monday through Friday, 6:00 a.m. to 5:00 p.m., Pacific Time.
By Phone
At our toll-free number: 1-800-999-1009
By Fax
(310) 783-3023 (24 Hours)
By Mail
American Honda Motor Co., Inc.
Honda Automobile Customer Service
1919 Torrance Boulevard
Mail Stop: 500 - 2N - 7D
Torrance, CA 90501-2746
They can't read minds, and maybe if enough people called/mailed and stated "I'd buy today if...(the financing rates were very low)", Honda might consider an incentive.
One reason they offer low financing on some vehicles is because those vehicles are higher priced. It's a good way to offset the sticker price, by using that low interest rate.
But everyone wants to save money on car purchases and financing. The least expensive model of any manufacturer is out-of-reach for a lot of people. Because we're talking about disposible income, and income varies along with the amounts available to use towards a car payment.
Someone could make a lot more money, but have less to put towards a car payment because of circumstances...like a high house payment. Or a big family. Or a lifestyle.
Someone else could make practically minimum wage and be able to pull off those payments, because they have little to no expenditures.
Honda (and other manufacturers) had some great lessons learned during the CARS program. They can continue selling out of cars, with the cars being MSRP, if they have incredible incentives.
Instead of offering low rates on certain cars for "well-qualified buyers"...
OFFER low rates on ALL cars for ALL buyers.
For instance, they could do that with ALL 2009s. Right around the time the 2010s start rolling in. Those who didn't have a clunker to trade in during CARS would get an AWESOME deal on financing, with many choices. So nobody feels left out of incredibly good deals.
It's a little different up here in the frozen north, we pay more for gas (despite exporting a large part of it to the states). Right now in Ontario gas is just under $1.00/litre which works to about $ 4.00 a gallon. (US gallon). We have always driven a size smaller car then you do in the states, because of gas prices and wages (which where lower, maybe not now). While Fits are not nearly as common as Civics, subcompact are still very common on the roads.
It's a little different up here in the frozen north, we pay more for gas (despite exporting a large part of it to the states). Right now in Ontario gas is just under $1.00/litre which works to about $ 4.00 a gallon. (US gallon). We have always driven a size smaller car then you do in the states, because of gas prices and wages (which where lower, maybe not now). While Fits are not nearly as common as Civics, subcompact are still very common on the roads.
It might be as easy as choosing a different route to someplace you go, to pick up on those less expensive gas prices. Or going slightly out of your way may well be worthwhile if you can save .25 cents a litre.
There might even be a bonus of saving additional money by shopping in the area you buy less expensive gas.
For instance, gas prices ARE lower about ten miles from where I am located. And in that particular area, I can also save up to 50% on canned cat food, $2.00 on my clove cigarettes per pack (thanks a lot Obama for letting the FDA ban them), all kinds of savings on groceries (those pennies and nickels really add up at the checkstand).
So, by driving farther for multiple items, I can save a whole lot of money.
Works the same for auto prices, and auto accessories. The farther you get from major metropolitan centers, the less expensive parts and accessories may be. You can even check it out via the Honda eStore, and you may well notice discounts by visiting dealerships that are farther away.
Er, unless it's SO isolated that you just won't FIND another gas station or dealership for 300 miles and you are at their mercy.
Like another poster said, there is very little markup on the Fit from Honda to the dealer. Therefore any factory incentives would cut into their already thin profit margin on the Fit. It's the same reason I didn't haggle over the price of the Fit either, as MSRP and dealer invoice are so close it wasn't worth saving the $500 (or whatever is). The dealership was really good to me and worked hard to find the car I wanted so I was okay with letting them get some profit on the sale, and honestly the Fit is such an inexpensive car already I would have felt guilty nickle and diming them over the price.
The only incentive I can see being offered at some point is a special financing rate, but not a customer cash back incentive. Some cars feel overpriced for what you get, but I think the Fit is priced very fairly for what you get. It's a little more expensive than other micro compacts but it's also much better than those cars too.
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2009 white sport w/manual trans & navi
OEM accessories: all-season floor mats, cargo tray, cargo net, door edge film, body side molding, door sills, window tint, and soon the center armrest with storage
Best financing Honda could do up here (BC) was 5.74. For those in BC reading this: I went to VanCity, and got their Clean Air Car Loan. It's secured with the car, so they can give Prime plus 2%, which works out to 4.25 right now.
As to profit for the dealer: they make $737 on the DX-A. They only made $350 on mine, plus a little profit on the accessories I wanted. Not a huge incentive for the dealer to be too aggressive with these, esp. considering demand. They know they have a winner.
No matter how good the financing is or will be, it's up to the buyers credit power to get the deal. If your credit sucks, you have little to no barganing power and therefore, it simply doesn't matter HOW good the financing offer is. It's entirely up to you, the buyer, to get the lowest rate possible- from honda or anywhere else.
When my wife and I went to the Honda dealer to purchase an 09 Honda Fit Sport, the salesman said that the reason they were offering 0.9% financing on other Hondas at that time was because those vehicles were assembled at a local plant. Financing for the FIT through Honda was 9% because they were imported from Japan. He also said it was way cheaper for us to get financing through our bank and he was right.
For me, the Honda financing rate was horrible. With my credit score, I was able to get 3.75% for 36 mo. from my credit union and 3.49% for 36 or 48 mo. from a local bank. I think the best that Honda could do was somewhere around 6+%
this is my first car ive got a loan on, walked into the dealer and paid my g8 in full... stick was 34,xxx and with all the rebates i got it for 26,250..
on the fit my credit union i have all my money through could do 4.7 (60months) i have a 770+ credit score...
honda matched and beat it got gave me 4.6 for 60 months no money down
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