Advice on buying new 08 civic?

Question

I want to buy a new 08' Civic EX. Honda is offering 4.99% financing. So I want a car that when I build on the honda website it comes to $21,777 MSRP w/ accessories. So going to a new dealer what type of price can I expect to pay? I have 750+ credit score and I can put around $10,000 down? I'm not really not sure how much down on these cars they will go? Also if its an in stock model vs. one they have to order how much down from MSRP do most honda dealers go? I just don't want to buy a car only months later to learn I could have worked the price down $1000-$4000. I live in St. Louis, MO if that helps.

Answer 1

Make sure you get quotes from multiple dealerships.  Competetion will drive the price down.

Answer 2

With a 750 score, you wouldn't have to put anything down, but that is not wise, makes you instantly upside down. Figure you'll be at around 24,5 after tax and license, and put about 25% down. Good luck getting a discount, first of all, on a 21k car, the dealer doesn't have much profit at msrp, probably around 1200 and Honda has the luxury of high demand vehicles, they'll most likely just laugh at you, and call out "NEXT"

Answer 3

Buy new because the used ones are actually appreciating in value. A friend's 2007 EX manual coupe is worth $19,500 according to Kelley Blue Book. He purchased it for $16,300 ($3000 under MSRP and almost $1000 under invoice).

While he got a great deal, it was also in December when the 2007 stock was being pushed out the door. Unfortunately, the 2009 Civics haven't arrived yet so there's not as much room for a deal. That said, you should be able to get it for $18,200 and for a much lower APR. With that score you should be offered something more like 1.9% (unless you have a limited credit history).

Call up the fleet manager at your local Honda dealerships and explain what you want. They should be able to give you the rock-bottom price without having to deal with salespeople.

Answer 4

Go to edmunds.com and click on tips and advice up top and they have good articles on how to buy a car.  Things like if you have so much to put down what loan to get  at what apr and lots of money advice like that along with how to actually bargain.

Answer 5

Honestly, buy a used one. Try to find a nice one that is a year old or something. It will be so much cheaper.

But if you must get one at the dealer, you could probably put 10,000 down, maybe less.  

Be firm. Carm dealers are BEGGING for you to buy a car these days.  I think they would come down at least 2,000 from the MSRP price, if not more.