Hey guys I have been jumping around the forums for the past week and im pretty set on buying the fit this weekend... I am trading in my 04 v6 accord for it :( yes its sad but when i laid eyes on the fit i fell in love. Ive been in and out of the stealership for the past couple of days and i think im pretty set on the fit sport in orange 5mt. I got the price down to 15760 i believe and i would like to know if that sounds reasonable... I owe 13100 on the accord and they are offering 14100 which so far sounded good. but once we get all settled in the finance office they show me the numbers and its up to 300 a month for 72months... the sad part is i use to sell cars back in the day in carmax but i dont know how a little car like that adds up to that amount. i believe the total he said after finacing was up to 21000... i think im in for some good haggling this weekend b/c i am bringing my dad... any suggestions guys?? Oh yea I love the forums here seems like a great crowd hope to be a very active florida memeber thanks! I am paying 287 a month for my accord right now so as you can see its a little dilema getting into a little car like that for the same price or even more a month even though i know im gonna be saving in gas

 

Did you get any quotes in terms of the APR ? When I bought mine, I had very good credit so the rate they quoted me was 6.1%. 300/month is about what I'm paying now, but I also had the warranty plan on it as well. I think when we were talking about JUST the Fit, the monthly payment was around 180-190.

Another thing is location. I live in Mobile, AL, so there are less people willing to buy a small subcompact. Try to find ppl on fitfreak.net that live near/around you and see what prices they were quoted. Chances are, though, they won't haggle with you very much. We tried to haggle with them and they only dropped the price down 300. Fits are in fair demand right now because of the fuel prices, so prices are staying pretty near MSRP. It's not like a domestic car where you'll get thousands in rebates and etc.

 

Those numbers don't really add up to me...Your tax is around a G and then doc fees and everything MIGHT bump the car to 17,000 fiananced. AND you are rolling equity into this car. I think they are trying to pull one on you. If I were you I would want to see a itemized list of the costs associated with them. Now that 21k figure was that what you are going to fianance or what you will end up paying in the end to get the car?

I'm getting lucky in my deal, my current car is a 05 fully loaded g35 sport coupe and in jersey if you are trading in a car that is worth more then the one you are buying you pay no sales tax.

 

I agree with Jesse on this one, the numbers don't add up at all. When they did the numbers you should have gotten as far as them printing the paperwork BUT DON'T SIGN!! Look the paperwork over very carefully as by my calculations there ripping you off by about 2-3k somewhere. Figure with good credit or a co-signer you should get around a 6% APR and with that trade in your payments should be around 297-302 for 60 months NOT 72. Calculator here:
Auto loan calculator at Edmunds

Don't forget the sales tax paid on a new vehicle are as follows:
New vehicle price 15760 - Trade in 14100 ( different states go by different books)
Tax is only based on 1660
You can look this up on you state DMV site or whoever regulates the stealerships in your state. Most people don't know this and get charged full "sales tax" then the dealer reports the tax on the 1660 and pockets the rest. This is illegal and must be reported immediately.
Another fun fact is NEVER give your licence to a stealership for a test drive. It is a Federal Law and can be reported to the Federal Trade Commission Consumer Protection Division. Most stealerships lie and use the very common excuse "Our insurance company needs it". This is False.

 

yea thanks guys i believed they are trying to pull a fast one.... because from 17 to 21 is a big jump. I am going 2morrow with my dad to have him cosign. They had me at 9%apr on my own so with him i know it will be better. I would like to take a look at those charges because I am sure that there is alot of crap they are probably piling up. Lol im so not use to buying a new car... I was used to the Carmax way seeing that i worked there never noticed how hard it was for people to buy a new car. Ive done some of the research and i knew that most everyone here has gotten theres around msrp or a couple hundred off. I know after that there are dealer prep fees, processing fee and all that crap but if i cant get the price down is it good to negotiate for like those free oil changes, the ipod linkage and all other special goodies?

 

Please do the research first!! Trust me, it may be a good car but nothing is worse than realizing after a few days and you go back and look at the paperwork you realize you got screwed. Once you sign you usually have no recourse of action. Save yourself the aggravation and buy the accessories on your own, I have listed several place elsewhere on the forum. Dealer fees should be around 100 and reg./plate should be around 200, don't buy into all the prep and paperwork fees! Finally, BEWARE the BS charges like body undercoating and extended warrenties. Like I said your monthly payment should be just under 300 for 60 months. If you can go on a weekday when whoever regulates your stealership is open and have them on speed dial on your cel.
Think I'm being paranoid and/or harsh? I consult on this kind of stuff and have been banned from two stealerships in CT. I also have gotten numerous fines and civil actions levied against dealers. Just recently I scored a victory by getting 5k worth of fines levied against a local Honda dealer.

 

keep in mind also man that you mentioned nothing about a down payment if you do the math by hand without a down payment its gunna be that much money especially after you figure in tax licence and interest you should be ready to buy a car with a down payment in my opinion dude

 

Figure out financing on your own.

The dealer sets the APR not Honda - they will screw you.

Go to a bank or online and get a loan yourself. You already know the numbers so you'll know how much you need.

 

I am not looking to put a downpayment. whatever i get extra off the accord i am putting on the car... I guess being my first time at a dealership i finally get to realize how big of a scam it can turn out to be... but yes i guess i will go back 2morrow with my dad and get out of that 72 months at 300 cuz that is alot. Yea i finished speaking to my dad and he wasnt to happy lol... He knew they were trying to pull a fast one on me but i didnt even noticed. Hopefully 2morrow with him there i can settle everything and get on my way. What im scared of is the car not being there after today or 2morrow if we cant get something solved. but being the end of the month on sat. hopefully i can get a good deal out the door. He says that i needed to start negotiating from invoice up not from msrp... i see that on edmunds invoice starts at 14,100 for the fit sport. I dunno buying cars is hard!

 

By the numbers you gave above and plugging them in and basing the tax on the difference between trade and APR, this is what they should have told you; 60 Months 312.62
72 Months 271.46

 

So 300 at 72 months at 9% is an extra 1800 or so that they were trying to slip past you somewhere. I would have your Dad look over this thread and I can always be PM'd.
If I was you and your Dad I would Not go back to this dealership and instead try another.

 

thanks señor i will print this post and show it to my dad and also take it to the dealership is there anything else i should be aware of? Is 15700 for the sport still too much? or should i just begin haggling over all the extra charges that bring it up to 21k

 

If it were a Civic or an Accord you can get 100-200 over invoice but with the Fit MSRP is where your going to be. I'm getting my Fit for 15560 which includes the Honda 595 destination charge and 95 doc. (paperwork) fee. With a co-signer you should be able to get down to around 6% and just aprox. 291 per month for 60 months with your trade. Anything else and run away very fast.

 

I bought a Sport fit 5spd auto on March 27th 2007 I started looking at the Fit Sport on March 25th and the rest is history. Stick to your guns I tried several dealers in the Jacksonville, Fl. area and on the internet with the same dealers. I got prices from 15295 for the basic fit to 19748 for a sport auto. I got my auto sport with tax tag and title for 18200 I put down 6200 dollars and will have payments of 231.00 for 5 years. The one thing I always made sure of I told the dealers I wanted just what the auto sport came with I would get the mats and cargo cover on my own. One dealer had his fit sports going for 20,000 dollars because he put all this junk on it. Stand your Ground and walk away if the B.S. gets to deep!

 

Go to KBB.com and put in the information to determine if you are getting a fair deal.

 

Dude, I feel you on that - I had to roll in $1700 from my Accord Coupe lease.. paid $278 and now went up to $313. I knew it was worth it to get the car I wanted, though.

Don't forget, you'll save on insurance too.

 

yea insurance on my car is insane 1200 every 6 months... so i am definitely calming that down.... but :D on monday everything should be set i got my eloan check approved and overnighted so i get it monday. thanks to my dad we got it down to 15200. so by monday nite i will be an official member!

 

Wow..you actually got a discount? It's almost impossible where I am (near Boston) for the manual 5MTs...they are just flying out of the dealerships.

 

Hey guys finally got my fit this week! will try to post some pics soon on another thread!