Topic: How much to pay for Honda CRV?

[Ralph]

Honda dealership offering 2008 Honda CRV - FWD with 34,000 km. for $17,500 (price includes $2,000 trade-in allowance and $1,000 financing rebate).  We have no trade-in.  Canadian Black Book says CRV is worth $16,980.

Another dealership is selling the same vehicle with similar mileage (but has AWD) for $18,000 (price includes $1,000 finance rebate).

What should maximum amount we pay for first vehicle?  Thank you.

[Gardiner Westbound]

Insufficient info.

There were six 2008 Honda CR-V models and several options that varied the new purchase price by thousands of dollars. Which model is it? What options are on it? Is it auto or standard? Clean history report? Has an independent mechanic inspected it? Are mock-official fees, bogus ecotaxes, mandatory options, and mystery charges involved?

Are you getting fair value for your trade?

[Ralph]

Sorry for incomplete info.  Its an LX model, one owner, clean history, no accidents, local vehicle, auto. trans., air, power windows and doors, fwd, vehicle stability contro, traction control, anti-theft/security system, etc..   No fees or mystery charges included.  Its a huge dealership - should it still be independently checked?

Any thoughts on what we should be paying?

Thank you.     

[johngenx]

Its a huge dealership - should it still be independently checked?

Thank you.     

YES

[Cord]

$17,500 (price includes $2,000 trade-in allowance and $1,000 financing rebate)

By that, do you mean that the price is $20,500 if you have no trade and pay cash?

[johngenx]

That $2K "guaranteed" trade allowance means to me that they'll take $2K off regardless.  If they get a car worth $1, they still knock $2K off.

I noticed that dealers around here have stopped that stupid advertising practice.  People hated it.

[Cord]

^^ I didn't see the word "guaranteed" in the first post so it's hard to say.

That practice has been illegal in Alberta for a few years now. You would be surprised to hear how many customers trading in garbage still ask, "don't you offer $2000 for any trade?"

[johngenx]

^^ I didn't see the word "guaranteed" in the first post so it's hard to say.

Oh, yeah, true.

That practice has been illegal in Alberta for a few years now.

Excellent!

how many customers trading in garbage still ask, "don't you offer $2000 for any trade?"

 

[my2cents]

I remember "Push, Pull or Drag" where any trade was worth $2000 but the trickiest of all was "With any old trade worth $4000" the price was $xxxxx - that didn't mean that any old trade WAS worth $4000 - it meant IF the trade was worth $4000.

[Cord]

^^ Yes, in the bad old days I remember ads like this:

$24,000 - $5,000 Down = ONLY $19,000!!

Illegal now just like the guaranteed trade thing. In Alberta anyway.

[No H2O]

Yup, there is a reason that industry got the reputation that they so deserve.

[Gardiner Westbound]

Sorry for incomplete info.  Its an LX model, one owner, clean history, no accidents, local vehicle, auto. trans., air, power windows and doors, fwd, vehicle stability contro, traction control, anti-theft/security system, etc..   No fees or mystery charges included.  Its a huge dealership - should it still be independently checked?

Any thoughts on what we should be paying?

Thank you.     

It's not prudent to dive into water without knowing its depth. Go to the VMR Canada website and look up the details for the car you are considering and for your trade. Don't forget to adjust the prices for your province.

When you first arrive don't talk price. Keep your information in your back pocket. If the car suits your needs ask the seller for his best price. Then if you have a better figure show it to him. He will improve his offer! He'll initially try to justify his vehicle's higher price, but hang tough! You're in control. Your homework will get you fair value. Don't get seduced. There is no perfect car or perfect deal; if this one doesn't work out, there's another one right around the corner.

Strive to achieve your trade's highest worth after finalizing the price of the new car. Dealers are more willing to negotiate when business is slack. Dickering over trade-in value will usually be more successful on a slow Wednesday morning than a busy Saturday afternoon.

At about $100 an independent, off-site, pre-purchase inspection and test drive by a knowledgeable mechanic is the best car money you will ever spend! A non-binding Offer to Purchase and a small fully refundable deposit are acceptable conditions. Make clear to the seller that no PPI means no sale, but not before you have a firm price. If the inspection yields a $300 repair list it will come off the negotiated amount. See the attached APA Used Vehicle Inspection Form.

http://www.vmrcanada.com/