Hey guys,

Been lurking, been wanting, been conversing with the wifey. Finally able to convince her that we need to replace her car, a 2003 Toyota Corolla S with a Fit. We will be seeing a 2012 Fit at a local Honda dealership this Saturday. I'm very hype and just wanted to share.

Any advice on what to look for? How to interact with the dealer? What to ask for? I normally buy used cars so this will be my first dealer interaction . I know MSRP and I know invoice. The person I've been dealing with via e-mail sounds legit but then again with all of the horror story with stealerships anything can happen.

Thanks!

 

With the 2013 Fits on the way, don't pay more than invoice. Try and get it for LESS than invoice.

 

Roger. Thanks AC7880.

 

2013's are already here in AZ, so assuming they are shipping into CA - you should see some up there in the Bay Area!

 

Dont go for the 2013. You can save more with the 2012. Id go for a sport MT but thats just me.

 

Try to get it down to MSRP. The Fits are selling high right now since it has won awards. If they don't lower the price enough then demand for extra features like floor mats, window tint, or even Mugen parts. Sometimes the dealer will buy them with their own money just to sell the car at a higher price to impress their boss.

 

That's a very good advise. If they won't drop the price down I can meet them at their price with dealer extras to get the difference. Thank you.

 

Something to consider is to get a Certified Used Car. Honda will actually extend the 5yrs/60K miles Powertrain Warranty to 7yrs/100K miles. Just 2 weeks ago I picked up a 2010 Sport with only 8K miles on it for $18K out the door. Saved about $2K-$3K over a brand new Sport that had less Powertrain coverage.

Honda Certified Used Cars - Warranty Information

 

What's your interest rate though? that's the Killer. At this point, a 2010 is a 3 year old car as far as the industry is concerned as the 2013's are available. with 0.9% & 1.9% financing available on some Honda cars (Not sure if you could get this on the FIT right now) a Brand new Fit Sport at $20K out the door would be the same price as your $18K 3 year old sport over a 60 month finance (at 5.9% - which is common for used vehicles) if the OP has a choice of 0.9 or 1.9, new is the way to go.

For reference:
2013 FIT Sport Auto MSRP ($18,700) at 1.9% ends up being about $20,800 (tax figured in)
2010 FIT Sport for $18K OTD at 5.9% ends up being about $20,800 (with a longer power train warranty)

We picked up a 7 year 100K extended warranty for about $800 which if done today, would make the total cost about $21,800. in my opinion, the extra $1000 would be worth it for a car that is 2-3 years newer.

Back in 2009 we paid $17,300 OTD with the 7 year 100K warranty but that was right before the gas for guzzlers. I believe our APR is 3.5 or 3.9 so it's not high but also not the 1.9 or 0.9.

OP, If considering used, check to see what APR you can get on both and weigh the differences.


~SB

 

That's a good point. You can't take advantage of the special low rates, especially with 2012 clearance going on. Mine is at 4% for 60 months, but I've allotted monthly pre-payments so it will be paid off within 36 months to avoid as much interest charges. That may or may not work for the OP.

 

You got in on a good Used APR and are doing the smart thing trying to get it paid off early. I did that with my GS-R; went for the Max Term which gave me the lowest monthly payments but paid it off early (My job was in Flux at the time so it gave me comfort that I could continue to make payments at the max term rate if there were employment issues - fortunately there were not)

Sounds like you got in on a decent deal, especially with only 8K miles on the car. How the hell did you find a 2+ year old car with only 8K miles?

~SB

 

Yeah its pretty decent deal. Not a awesome deal, but I'm happy with it.

I guess we (wife and I) just got lucky. We went to the local Honda dealer intent on purchasing this 2009 4 Dr Civic for $14K we saw on their website. Test drove it. As we pulled back in to the dealership we saw the Fit just sitting there, staring at us. It had this glow as we drove by. As if it was calling our names. LOL We asked to test drive that next and wife instantly fell in love with it.

 

Good luck with your car shopping and welcome to the forum. The Fit is a great little car and when I test drove mine - I took it on the interstate and around the city - I believe I put like 20 miles on the thing! Just be ready if you get passed by a n 18 wheeler - it is a new experience and don't roll down the back windows - makes a horrible noise and pressure in your ears! LOL! Have fun and let us know how it goes.

 

Note that the standard process is to negotiate the vehicle price
with you... then hit you up for accessories and an extended warranty.

Browse the accessories online in advance and decide which if any of
them you want. Keep those in mind when negotiating.

Extended warranty is a controversial item for such a reliable vehicle.
I had them add a 7 year/75,000 mile extended warranty and view it
as an insurance policy in case something major happens.

 

A good bargaining chip would be to walk into the dealership with a pre-approved offer from a lender. I applied at Capital One online and got an offer with different APRs, depending on what year the purchased car was (new and used). If the dealer offers you something higher, you can say "I got this offer from this lender, can you beat it?" They will definitely counter offer, because they know you have options now. They would rather you finance with them. This will also give you a sense on what to expect to pay monthly before reaching the dealership.