Hey All,

I recently went to a dealership in northern NJ to buy a new 2017 Honda Fit. This was my second time going to a dealer and talking numbers. Their numbers were much better than the first place I went to and we were able to negotiate more to where I wanted to be. I just wanted to find out if I got totally ripped off or not. Please see the details below:

2017 Honda Fit EX CVT (non leather)
Total price of Vehicle.........18,956.89
State Sales Tax..................1,682.42 (NY state tax rate)
Registration Fee................300.00
Online Processing Fee......770.00
Documents Fee.................289.00
TOTAL................................21,236.01

If this is in fact a bad deal does anyone know of a way to rescind this offer and get my deposit back?

Thanks!

 

Looks about right to me,, dont over think it,, the only place there I see any possible wiggle room is the "Online Processing fee" and the document fee they do have to make some money on the sale. What makes you think you got ripped off? if the deal seemed bad why leave a deposit?

 

If you want to cancel the deal, simply ask.

Many states (I'm not at all familiar with New York/New Jersey consumer protection laws) give consumers up to 3 days to cancel any retail contract they've signed. Google it.

The Honda dealers I've experienced in the midwest all work very hard to sell the cars at or above the 'Sticker' price, with very little discounting.

Understand that if a car dealer is not profitable from the sum of all their business activities, they cannot stay in business. That does not mean that every transaction (used cars, new cars, parts, service) will bring the dealership a high profit. Some people will negotiate legitimately 'great' deals, but some will not.

There are still car dealerships in every city who thrive by preying on unsuspecting customers with high add-on fees and charges that amount to pure profit for the dealership.

In my opinion, the Online Processing Fee and the Documents Fee you've listed are two very high-profit, low-cost charges for the dealership. Good luck!

EDIT: Your credit rating (or lack of credit rating) can also affect what kind of deal you are offered.
People with no credit rating or a poor credit rating generally pay higher interest rates because they represent a higher risk to the company financing the loan.