So ... I haven't bought a car in 6 years, hate doing the whole tango dance with dealers, but here's the deal I made today:

2010 Honda Fit Sport: $14,000 including the Honda extended warranty for bumper to bumper coverage.

I had a $1500 trade in ... no deposit, and the rate for loan was: 4.5% for 6 years. I can always pay it off earlier of course, which is what I'll try to do, or trade it in, in a few years for newer.

Excellent condition ... dark silver/light gray. Payments: $240.00

So what do you guys think? A good deal?

Nice to meet you all .... I'm new today, and tomorrow is my birthday. So the car is a present to myself.

 

Uh oh ... I'm getting paranoid! No one is saying anything.

 

Welcome and congrats on getting your Fit.I think you did ok on the deal but I'm sure others will be able to give you a better indication of how you did.How many miles and is it Manual or auto?

I guess the main thing is are you comfortable with the payments.Have a happy Bday and show off your new Fit with a pic or three

 

congrats on the new car, doesn't sound like to bad of a deal to me. The Fits seem to like to hold onto there value. Welcome to FF.net by the way

 

All depends on how many miles, but $240 a month isn't bad at all. Pics would be nice

 

Sounds like you got a deal. Have fun with your Fit!

 

Good deal is not just the price but also has to do with the trade-in figure they gave you. If you had no trade the dealer would not have to build in any over-allowance for it. Dealers take in trades at wholesale price and either re-sell it to wholesalers at the same price or put it on the lot at retail price to make a profit.

Look at a post from "How much did you pay" thread:
YOu have the factory extended warranty which costs the dealer from $800 - $1,400. The comparative Fit above doesn't, cause his vehicle will still have the original warranty for another year +/-. You can drive your Fit for the next 3 years having "peace of mind". Depending on your trade, they could have made an over-allowance of $600.

For a nice clean 2010 Sport Kelly Blue Book rates the range for a CPO vehicle $14,598 to $15,345. You saved $598 from the low end. Your purchase price less the over-allowance is a good deal for a very clean Fit.

Similarly, hate to go to dealerships and get the standard run around. My last 4 vehicles have all been transacted over internet and phone. In three of them, I dealt only with the Sales Manager. Once they know your serious the exercise, is simplified eliminating most of the BS.
Last Sept. my nephew in Boston disliked the sales tactics and recruited my assistance. Went online, surveyed which dealer actually had in stock for his vehicle of choice, made 4 phone calls and closed the deal. Got his 2013 Fit Sport manual at a decent price and he took delivery the next day. Technology abounds so lets all make use of it.

Hope this help answer some of your concerns. Enjoy your new used Fit and have a very Happy Birthday!!!!

Post pics so all the boys in FF can have a look at the new Fit wheels.

BTW, welcome to this great Forum. Don't surf too much on these threads. The gals/guys here have a way of making their Fits look really nice. The temptation to spend more on our little cute cars will be irresistable. This advise is my b-day gift to you!!!

 

Congrats on the new fit! It would be a good deal depending on the condition of the car and mileage on it. Happy birthday or belated happy birthday! Is it a sport model? M/T or A/T? Did it come with any accessory? How's the paint? In the end the car surely will hold its value as all hondas do.

 

You didn't mention miles on car. 14k for 2010 30k miles (assumption) sound resonable to me. Probably I would try to refinance from credit union at a lower rate (around 1.9%). Overall looks good

 

Yeah definitely need to know mileage. I hope it's low

Either that or they charged an arm and a leg for the warranty.

 

Thanks everyone for the replies.

Picked up my Fit today .... and here's the info you guys requested:

30,000 miles - automatic - extended warranty cost me 900. It's a Sport ...

I didn't realize you could refinance with CU after going through Honda. I may consider that down the road.

I happen to get sick today on my birthday ... phooey! But I did take it for a spin. I noticed the shifting when I start up from a stop, a bit hesitant, but then I tried starting out faster, and it felt and sounded better, I think I'm just use to my old Hyundai.

Thanks for the birthday wishes ... great to be here, and I'll post pictures soon.

 

^oh that's a good deal then for that mileage. I'm jealous lol

Congrats!

 

Diana, the answer is irrelevant. Just enjoy your new car, celebrate a wonderful birthday, and enjoy the coming days of warm weather owed to all of us. You did well when you decided to buy a Fit in the first place. Miles of trouble free driving coming your way.

 

Here's the formula for buying a car:
Go to web sites and find the wholesale or trade-in value for both the car you want to buy and the one you're trading. Do a accurate determination based on condition and miles. for used cars use nada, black book, edmunds, whatever and average.
Take the difference between the desired car's and your car's wholesale values and add a profit; nothing for cars hard to sell to as much as $1000 for desireable cars, and more if they are scare. Add your loan payoff to that difference. Thats your fair price standard.
If your loan payoff is more than the trade-in value you are underwater and may have difficulty buying the next car. (thats what is known as underwater.) The ealer may be able to add your loan payoff to the difference and still make that sum not more than the price of the new car - that is a game in itself - and make the payments come out OK.
Add tax, tags, and title and you have the 'final' fair price to pay. Dealers nowdays charge a ridiculous amount for 'doing the sales transaction', also known as additional dealer profit. Do your best to minimize but add that to the fiinal fair price.. As for the payment the total loan value on each thousand dollars is 1300 in 6 years or a payment of $18 per thousand you borrowed. From your payment I would estimate you borrowed $13,300..
On Hondas unless you used a certified Honda protection you will be robbed; its easily identified by a cost of at least a thousand bucks. Hondas generally run under $500 for 100k miles. In any case for Hondas its a nice profit center for dealers F&I. Check Consumer Reports ASpril issue for a nicediscussion. But if a non-warranty is a terrible fearful expense then an extended warranty is peace of mind and you get to finance the cost.
Happy birthday regardless. The Fit will be more than worth being a nice present..
cheers.

 

Welcome!

Price is good, would have not sprung for the extended warranty and would have tried to get a lower rate (depends on your credit) but your price is fair

Enjoy the car, you will love it

Happy birthday too!

 

^That. Someone here on the internet probably got a much better deal than you did once, but availability and demand are localized and change fast. Don't worry about it and enjoy your new car.

 

congrats on the new car. at the end of the day, a car's worth is up to you. if you are happy with the price you paid, then that's all that matters really.


ive purchased over 20 new cars so far, and while i can physically get good deals based on my experience buying cars, it really doesnt bother me if the dealer needs to make a few hundred over invoice on the sale. i personally dont buy extended warranties or any dealer-add ons. if the saleguy did well, i enjoyed the entire process, i just give that to him. im happy, he's happy, it's a win.

 

Nobody can tell you if it was a good deal or not without knowing manual versus automatic, nav versus no nav, and without knowing the mileage and how much time and mileage is left on the extended warranty.

Why did you ask now, rather than before you bought the car? That's the part that makes no sense to me. Why are you asking a question when it is too late to do something about the answer?