Looking at a '16 Fit EX , wondering if this is a descent deal
 

According to KBB not really a " drop everything, and go buy this car" type of deal. But while searching for a new suv for my girlfriend , I saw this and really liked the color and the new design.. I currently am driving a 09 sport that I will keep as a primarily winter driver/backup.

NorthStar Ford | Used 2016 Honda Fit For Sale in Duluth, MN near Hermantown, MN, Superior, WI and Cloquet, MN | JHMGK5H77GX021144

You can buy a brand new 2017 LX with CTV for less than $16,800 plus tax and license. Check the discussions in this thread. https://www.fitfreak.net/forums/3rd-...-2017-fit.html

I can't get financed at our Honda dealership, and this specific dealer might be able to get me financed. Trust me I'd love to buy a new car, but rebuilding credit after I lost my job a while back had me go into default on a couple loans.

If I get financed here, I would be happy with $16,500 out the door to be honest , as it will help me rebuild my credit to what it once was

I understand. Maybe you can use the new 2017 price as a leverage in your negotiation with the Ford dealer. 2016 and 2017 are the same car except one color changed and the MSRP for 2017 went up $100.

I'll try ,haha... Getting approved would be a huge help, I don't need a new car but I need my score back up in the mid 7s .. currently it's only 622 on Equifax and 612 on the other 2.... Amazing how long it takes to build up, and only takes days to destroy.

That said. Would $16,500 otd be a fair deal? Car only has 2200 miles , and I'm assuming still has warranty left, but not sure how the warranty works buying used from a different dealer , vs buying new

They told you that you can't get financed at the Honda dealership or you just think you can't get financed?


It's rare that a dealer can't get financing regardless of credit. It might not be ideal, rates might be high, you might have to come up with some more for down payment, but usually they'll find someone who will finance just about everyone.

Only YOU know your situation the best.
But I would question.
If ANY dealership can finance you for that amount...that amount should be something you can be financed for at some Honda Dealership.

I would just do more research in regards to financing options.

Also be wary of a dealership simply "saying" they will finance you. Often it just leads to bait and switch tactics. Once you come in, suddenly the parameters of the deal change.

The warranty stays with the car till 36k or 3 years from when it was sold originally as far as I know.

If you're dealing with getting out of debt and bad credit history, do you think sinking another $17k is a good move? I guess I'd focus on paying off whatever debt you have so you can set yourself up for the next car purchase in a few years. Lowering your debt will increase your credit score for example. While accounts in collection will stay on your credit report for 7 years or so, even after you pay them off. As long as your 2009 is driving well, keep it and save up for the next one.

If you're determined to buy though, definitely check with the dealerships anyways. My sister-in-law works at a dealership and she says they deal with multiple banks and can find a loan for most people. Might be higher interest rate though, so you have to ask yourself if it's "worth it".

It's not the money, or the credit issue that is coming up.. it's the fact that I'm an independent contractor , and apparently they don't like section c, or something to do with it? I even showed my bank statements and deposits.... Offered $4-5k as a down payment but they still say I don't have a credible source of income... Who knows.

I only have one debt, and its from a medical bill when my insurance lapsed in 2014/2015. Long story ....

Ahh OK, I understand. I was a 1099 contractor for a while and it's harder to show the income stream especially if your income is commission based.

Very! Ever since going 1099 getting any loan has been kind of a pain.. Regardless. If this loan does go thru, I will at least be able to get a new vehicle, and rebuild what was lost. I have money in the bank , and a steady job, but it seems like that doesn't matter much.

As another poster said above, don't bury yourself even more if your already in debt, I completely agree. I'm not in debt, im just stuck with a medical bill that wasn't paid due to me not updating my credit card info . The exact same thing happened to me about 12 years ago when my insurance lapsed , and within that month, I hit a deer with a new car a bought 6 months prior... Airbags both went and a ton of body damage , all paid out of my pocket.

Well going to look at this guy tomorrow... Anything I should be aware of, or possible common issues with the 3rd gens? I've never been fan of cvt transmissions, so this is definitely a first :)

NorthStar Ford | Used 2016 Honda Fit For Sale in Duluth, MN near Hermantown, MN, Superior, WI and Cloquet, MN | JHMGK5H77GX021144

Check out the Honda dealer in Bloomington, MN. They had a twelve 3000 to 5000 mile 2016 Fits a few weeks ago.

We almost bought one.

Then we found one identical to what you are looking at (including color) much closer to home for 15,000. That was 10 days ago.

What am I missing here.. I've seen quite a few low mile( less than 5000 ) brand new cars, and this one only has 2200. I mean are all of these getting repo'd after 2 months? :D

Possibly- people buy inexpensive cars because that's all they can afford. Then if they lose a job and miss a couple of payments...


As far as that price- I can't speak about your local market but here in NY in September I paid just over $17,700 for the same car (blue EX CVT). New (and with Honda wheel locks). That was just before the 2017s came in, so dealers wanted to move the 2016s. Now any dealer still stuck with 2016 models is probably even more rushed to get them off the lot.

This woman actually traded it in for a Ford edge. Car looks new inside and out obviously . But am really debating the price. $16k $16,5 out the door would be great with tax title and licensing .. I'll probably put $3500 down.

Nice car , obviously reminds me of my 09 sport. But new and refined .. I actually don't mind the CVT , as it felt very nice and smooth .

Keep us informed your final decision. :hyper: Actually, the CVT is very nice for this utility car. I have been manual trans guy.

Most of them are dealer owned rentals and loaners. It is the end of the model year so new 2017s are now used to replace them.

Some are early lease returns. If you are in the military and know that you will be deployed, you simply return the vehicle and terminate the lease with no penalty. The trick of the system is you put no money in initially and take the longest lease possible to keep the monthly payment low while you drive it. Then when you are deployed simply return the car. They have to take it back with no early lease termination penalty.

If you get it for 16500 out the door, that is a great price. I'm in california and a few months ago I paid 19000 out the door for a 2015ex-l with nav. with 13000 miles on it. I probably should have gone home and let them call me back. It does have just about every dealer option on it as it was owned by an employee of the dealership. Whether tech mats, rear cargo tray, mud guards, sport grill, led door sill things and led foot well lights. Even has clear bra on everything in front even though it has a small chip all the way through the bra into the hood but I saw it going in on the deal. Of course I looked more after my purchase than before so looking back I should have just bought new but i do love the car.

I test drove the 2016 Chev Sonic 1.4 turbo CVT and the 1.8 automatic. I'm coming from 2014 1.6L Versa Note with CVT. I ended up purchasing the 2016 LX Fit. Just not comfortable with a 1.4 turbo. I can say that the CVT on the Fit is light years ahead of the Versa Note CVT. There is no speed change with the Fit, where as the Note whines up and shifts. Had to have the Note "body valve"on the CVT replaced under warranty. Would have liked to go with the EX but pricing was a major point. Got the 2016 LX CVT @ $15,200