Honda Ridgeline - 08

[Putty]

Getting closer to that new truck time again, after 6 years with my Tundra. MSRP on a new ridgline is 33k and invoice is 30k.

Currently they offer est. $2k back of invoice and .9/36months - 2.9%/24 months.

Here are the offers so far with 13k down:

Downtown Honda, Spokane.

$28,340 @.0 36 mo./2.9 24 mo

$274 per mo ( calc @ 2.9% for 60 mo.)

Total cost 29,947

South Tacoma has two quotes:

$26,331 @ 6% for 60 mo.

257.72/mo.

Total Cost: 28,463

$27,831 @ 2.9% for 60 mo.

265.83/mo.

Total Cost: 28,950

I hear your credit score can make a difference (ours is in the 850 -900 range). Downtown Honda may throw in some accessories. Accessories might include Roof rack, tow package, nose bra, sliding tonneau, fog lights etc. Should I wheel and deal some more, and push for accessories or just choose one and go with it? Not real experienced in these matters.

[Flatland Shooter]

Getting closer to that new truck time again, after 6 years with my Tundra. MSRP on a new ridgline is 33k and invoice is 30k.

Currently they offer est. $2k back of invoice and .9/36months - 2.9%/24 months.

Here are the offers so far with 13k down:

Downtown Honda, Spokane.

$28,340 @.0 36 mo./2.9 24 mo

$274 per mo ( calc @ 2.9% for 60 mo.)

Total cost 29,947

South Tacoma has two quotes:

$26,331 @ 6% for 60 mo.

257.72/mo.

Total Cost: 28,463

$27,831 @ 2.9% for 60 mo.

265.83/mo.

Total Cost: 28,950

I hear your credit score can make a difference (ours is in the 850 -900 range). Downtown Honda may throw in some accessories. Accessories might include Roof rack, tow package, nose bra, sliding tonneau, fog lights etc. Should I wheel and deal some more, and push for accessories or just choose one and go with it? Not real experienced in these matters.

If they throw in some accessories, include that in the comparison. If Downtown Honda throws in $1000 in parts, South Tacoma should be able to either match or discount the purchase price by their dealers cost.

As for the two South Tacoma quotes, the $26,331 looks best especially if there is any chance you might payoff the loan early or trade it in in less than 60 months.

Bill

[sfinney]

Your credit score has everything to do with the APR you get..... yours is high enough to earn the best rate, anywhere. Now, if you are going for the factory subsidized rate of .9 or 2.9, you only have to score high enough to get it (usually B tier or higher, around the low 700s).

Sometimes your best option is to take any and all factory cash, and use your excellent credit score to get a low rate from a credit union bank on your own. Usually you can't get the low rate AND the cash rebate from the factory.........

On the "free" accessories....... nothing is free. They are either making it on the deal up front, or financing on back, or on a trad in that they are under valuing, to cover the "freebies".

Haggle one thing at a time. Shoot for the best price on the car, period. Then get the best APR you can, either there or the bank. NEVER haggle on the payment amount (as in I won't pay a penny over $400 a month!), they'll get you everytime. Tell them you are only interested in how much the car costs, not what your payment is, or the difference, or whatnot. Once you have a price, beat them up on financing til you get a rate at leas tas good as you can get on your own, from the bank. Don't forget they make as much or more selling you financing than they do the car sale. They want your finance business, but only give it to them if it works for you.

How to tell if you are at their best price, or too low? They quit playing the "let me ask my manager" game and start saying "no". Alot. As long as they keep offering to throw in things for free, "to close the deal" believe me, you have not hit bottom. As long as they say yes, you are paying to much. A test: if you walk out of the dealership after taking up their time for the last 2 hours, and your last offer was rejected, flat out, and they don;t chase you to your car in the parking lot, you are probably getting close to the bottom.

There are exceptions to this, times when there are special deals for the dealer if he sells in volume, or hits objectives, and they will give away the store. But 98% of the time, the yare going to make money. The only question is, how much is fair? That only you can decide.

ps - the big wild card here is if you have a trade in, it gets ugly. If the are offering you more than low or average wholesale value for your car, it is coming out of the profit they are making on selling the new one. Anything else is an illusion. Truck and SUV resale values and residuals are plummeting right now, if you drive an SUV its worthfar less than you probably think, if you haven't shopped it in 3 or 4 months. If you have a private sale lined up for near retail value, pull the trigger. Your extra money will help pay most of the taxes, and give you power in negotiotions on the new one, to get the best price with less smoke and mirrors.... you are no longer subject to the whim of the dealership for what they will pay you for your trade.

Just friendly advice, from one person's perspective who has been around the industry.

[Nik Habicht]

Talking to Ford Mechanic I trust this weekend, he suggested that you could knock $10,000 off of sticker on Ford Trucks right now and easily close a sale --- off course that's East Coast....

If you want to maximize your money, sell privately and figure out what your bank or credit union or their competition will do for you on a new vehicle purchase. Then prepare to spend a lot of time haggling and follow SFinney's advice.

If your time is worth something, and you know what you're comfortable paying and you don't consider "Beat the Car Dealer into Submission" as fun as shooting a match, then do adequate research, prepare an offer that you're comfortable with and buy from the dealer you like most who'll take your offer....

The dealer will make money if he sells you the vehicle.

[sfinney]

If your time is worth something, and you know what you're comfortable paying and you don't consider "Beat the Car Dealer into Submission" as fun as shooting a match, then do adequate research, prepare an offer that you're comfortable with and buy from the dealer you like most who'll take your offer....

+1.

Figure out what you are willing to pay, make the offer, move on. Unless you are a glutton for punishment, its just not that much fun wasting a day or two on this stuff....

Last tip: Internet departments at big dealerships are sometimes the best way to cut throught the clutter. Go to the dealer's (or manufacturer's) website, enter a request for quote, be specific on trim level, color, etc, and you should have answer back that day (or much sooner), with a "best" price quote. If one dealer won't play internet and email tag with you, fine, find another. Its a different world than it used to be, and the better dealerships have adapted.

[Putty]

I am only dealing through the internet at this point. Lots of email tag.

Is there an advantage in buying locally vs. 6 hours away? The best offer is the one that is farthest, but they give you a tank of gas.

[bberkley]

I bought a 2006 Ridgeline RTL used last summer. I love it. I traded in my 2004 Pilot for it.

There is a great website for Ridgeline Owners here: http://www.ridgelineownersclub.com/

And if you're interested in some square side-steps for yours when you get it, I know where you can find a pair (I took mine off).

Edited July 28, 2008 by bberkley

[lynn jones]

remember, the ridgline is not a truck. i'd stick with the tundra.

lynn

[sfinney]

remember, the ridgline is not a truck. i'd stick with the tundra.

lynn

By some accounts, its argueable that a Tundra is not a truck either. ha ha just kidding.

Also, was doing some reading, the Ridgeline gets 15/20 mpg city/hwy.... thats the same rating as a Silverado 1500 with a 5.3 V8. Just FYI. (oh, and the Tundra is 13/17, BTW).

[Nik Habicht]

I am only dealing through the internet at this point. Lots of email tag.

Is there an advantage in buying locally vs. 6 hours away? The best offer is the one that is farthest, but they give you a tank of gas.

Dealer service? Do you really like the local dealer? We hated the local Hyundai dealer and bought Carol's Sonata out of state. The sales experience was good; after we moved into that dealer's neighborhood we started using them for service. The service dept. is as bad as the sales dept. is good.....

On the other hand, I took the Tahoe to the now local Chevy dealer for some warranty work after we moved here and they were terrific....

So the only reason I can see to buy locally is if you can get preferential treatment for service or if you get a really good vibe from the local dealer. Of course if they offer free loaners on service days that might be a nice incentive. A VW dealer once offered free loaners for all major service/repairs for vehicles bought from his dealership --- that saved me some coin when I was young and poor.....

If you've got a good independent mechanic --- probably not much of a reason....

[chp5]

Also, was doing some reading, the Ridgeline gets 15/20 mpg city/hwy.... thats the same rating as a Silverado 1500 with a 5.3 V8.

This is a good point. You can't always predict MPG by the size - especially in trucks. Many small trucks and SUV's get almost the same MPG as the full size versions.

My 1999 Jeep Wrangler was a fun, small vehicle that got crappy gas milage.

[bberkley]

remember, the ridgline is not a truck. i'd stick with the tundra.

lynn

By some accounts, its argueable that a Tundra is not a truck either. ha ha just kidding.

Also, was doing some reading, the Ridgeline gets 15/20 mpg city/hwy.... thats the same rating as a Silverado 1500 with a 5.3 V8. Just FYI. (oh, and the Tundra is 13/17, BTW).

I get 22mpg on the highway with my 2006 Ridgeline.

If you aren't romping on the accelerator, its reasonably fuel efficient. Plus, its a ULEV.