Hi all, about to trade my vw gti in on a 2013 fit sport, 5 speed. Looking for simplicity and reliability while lowering my car payment and fuel expenses. Not to mention, strong resale value.

The quote is the following, let me know what you guys think...

Msrp 17,950
Discount (2,006)
Sale price $15,944

Tax, dealer fee and registration is about $700 factoring my trade allowance. I will have $1,400 in negitive equity from the vw.

The dealer is also giving $500 towards the down payment for college grad and another $500 down for Honda loyalty/Honda cash.

$251 / Mo 72 mo @1.9%. Zero out of pocket.

Thoughts? Thanks all.

 

If Sale Price of $15,944
add negative equity 1,400 = $17344 less $500 (college) less $500 (loyalty) = $16,344 (includes all other costs except taxes and license) amount to be leased/financed.

You should be able to do about $1,000 better seeing what others have been paying. Your goal should be to get as close to $15,000 (maybe even lower) as possible for a new '13 Sport M/T.
Its not how much you pay per month, its all in the capitalized cost of the vehicle no matter what financial product you choose. Get that figure as low as possible and everything follows downward. Ask to see the sheet calculations. By law, they are required to show and explain each line to you.
Good luck and keep us posted. Happy shopping!

 

Thanks. I have the sheet from the dealer. Is what you are talking about just the line by line breakdown or is there more? I have dealt with them on a couple cars in the past.

I've been reading and agree that I want that sale price under 15k, I'm addition to the 1,000 down from the dealer.

The price quote I got has just been via email. I may ask for an extended test drive then dig into the numbers in person. The other option is to continue through email to get the price lower.

Any more thoughts?

 

Past dealings with those Honda boys is excellent for you.
The dealer knows your qualified and a "real" buyer. They will not let you walk.
If you can hold off for another week:
- visit other dealers in the area and see if you can do better but don't close or sign anything
- you could do e-mail, but for now a personal visit would be the best after your visit to other dealers.
- go back to your dealer on April 28, 29 or 30th and that's the time to put on the "squeeze". Its not often we have the upper hand over them. In this case, your timing is perfect. They are out to unload all '13s and they won't let a qualified customer potentially buy from some other desperate Honda dealer. During end of the month periods, Sales managers are all pushing their staff to move the old model inventory to get their sales goals for the month so timing is critical. Good luck and post pics when you get your Fit.

 

Thanks. I just requested quotes from two other dealers. We'll see what they have to offer. This dealer only has two left, one in black (not interested) and one in the polished metallic, my choice.

I'll see what some other dealers have to offer then put the final squeeze on these guys.

 

Don't know where you are in NJ but they have plenty here in Orange County NY!

 

I am in southern.

There are more at other dealers but most are base or sport with the auto. I would be looking specifically at the sport manual.

Thanks for the heads up though.

 

OP's looking at 16k for a new 13 Sport, with fees and incentives combining to take it down to 15,700. Don't blame the Fit for the $1400 the VW is adding- those are different money piles, even if they get rolled into the same loan.

15,700 for a new 13 Sport is good.

 

agreed.

Not sure what offer is on the table. Is it $15,944 including the "grad money" and "loyalty cash"? Or is it $14,944?

What's your VW worth and how much do you owe? The $1,400 negative equity could just be added dealer profit. Is the $15,944 offer dependent on the VW trade-in?

Dealers excel at muddying the offer so you'll agree to pay too much. The wild card here is the trade-in. If you really have $500 equity on a realistic trade-in value, then the dealer is taking you for $1,900 on the VW and the Fit is really costing you $17,844 plus tax tag and title.

Dealer fees are really part of the sales price. You need to separate this from TTT and consider it part of the sales price.

Take a deep breath and analyze what the offer is carefully. If it doesn't smell right, start over without the trade-in, with another dealer if you have to. Once you have negotiated the best purchase price on a Fit, then you have to negotiate the amount they give you for the VW which is equally important.

Edit, working back from the payment of $251/months for 72 months @ 1.9APR the amount you're financing is $17,067.20. Really need to know the details on the trade to determine if this is reasonable.

 

just get it, it is a good deal. lol if you like it and you can afford it then do it man.

 

Have new Fits been discounted to 15-16 K for the sport model? That is much lower than what they were selling for just a few months ago 18+.

 

Anecdotal accounts say yes. Reality may differ.

2013 On the sticker (it's 2014 today if you're reading this in the far flung future). Big hit.

2015s on the lots now. Big hit.

Negative IIHS safety rating on 2013s published 2 months ago didn't help either.

It's definitely a buyer's market on 2013 Fits.

 

In February they were advertising Base manuals for 16,200 and they offered it to me for 15. I stuck with the savings instead of asking about the Sport. A Sport for 15, that'd be great!

 

UPDATE -

I was able to sell my VW outright. Paid off the loan and put some cash in my pocket.

Back to the Fit purchase...

2013 Fit Sport Manual - black color (not first choice but it's their last one)

$17,950 MSRP
-$2,006 Discount
$15,944 Selling Price
+$1,116.08 NJ 7% tax
+$311 New 4 year registration + tags
+$239 Dealer Fee
+$7.50 Tire Fee
+$6.60 MVP Fee
=$17,624.15 Sub Total
-$500 College Grad
-$750 Flex Cash
=$16,374.18

0.9% for 60 months, $0 out of pocket = $279/mo

Thoughts? Tax and tags out of the picture, they are selling the car for ~$14,750

 

Thoughts? I'm jealous. These are better prices than 5 years ago that's for sure...

 

Thanks for the info Steve. I feel good about the deal, just wish it was vortex blue or milano red. They had the dark gray metallic but it sold and the black is the only one left. Found a silver and white close by, i may ask for a dealer transfer once i go look at the pics and compare.

 

My advice is to set your payment to $300 so you are paying $21 each month directly to principal, then save up every few months and put a few hundred extra if you can afford to.

You would be amazed and how fast that 60 montth term changes to a 45-50 month term with only an extra 20-30 bucks a month going directly to principal!!

 

I do things like that for my mortgage. Rounding the payment up to $300/mo only cuts off 4 months. If i go up to $350/mo it will take off a year. Part of this move is to lower my monthly expense so we'll see. Only paying .9% over the 60 months is ~ $365 in total interest which is pretty good.

 

Gee you guys are so lucky there, only .9% interest rate. the best we can get here is 10.5%

 

239$ dealer fee? I just bought an 09 fit from a used lot that tried to hit me with 1000$ prep fee. Negotiate that off imo. And that registration number sounds pretty high. negotiate it in half I'd say. My father is a purchaser for a decent sized company his motto is: You don't get what you don't ask for.