Hi everyone,

I appreciate any feedback. I am looking to finance a 2011 Honda Civic LX S. I am trading in my 2006 Honda accord SE with 130,000 miles. I have never financed a car so I am a little ignorant. I apologize. The monthly car payment quote I received was $265.90 per month for a 60 month term. This is with 0.9% financing. I have very good credit. This is also with $4,500.00 down. They are giving me that much for my trade-in. The out the door price with tax, tag, title etc is $15,540.47 with a payment of $265.90. Is this a fair quote? Thanks in advance. I appreciate it.

 

You don't say what the sticker price was on your new Civic. I'm guessing about $20K from the numbers you posted. With that out the door price, I'd say you did fine as long as you were happy with what they gave you for the Accord. I have no idea what the book value is.

You're only paying about $400 in interest if you go the full 60 months....can't beat that!

Enjoy your Civic!

 

its 15k + 9k you put down and on trade? making it a 25k civic? talk em down 5k

 

I also agree with Status on talking them down another 5,000..after all maybe they
will go down that much or maybe even 1/2 that much...anything less would be better...Yes???

WheelBrokerAng

 

make sure that interest is locked... you might look at your rate down the road and realize its at 5% or more. if you're financing through your bank you will most likely get a better rate than from the dealer. if you're trading in your 06 along with paying 4300 down and paying 15,540 before you factor in interest then im sorry but yes you are getting ripped off.i'd tell you to take that deal without the dealer trade in. thats way too little for that trade in. thats like saying your trade in doesnt even matter. sell your 06 somewhere else for maximum value, dont trade it in. it doesnt matter what your interest rate is... it could be fixed at 0.0% if you're still paying $6k over what you could be paying in the long run.

remember its a salesman's job to treat you like he can make that deal with his eyes closed with anyone... thats how he or she makes you feel like you need to take the deal. he's probably made you feel like it's an awesome deal with lies. its a mind game, i know because i used to be one for years. just be assertive and tell them thats a crap deal or better yet go to a different dealership that will give you a clean slate so you can be more aggressive than passive. if you have questions about wheelin and dealin just pm me. my best advice i can give you is know your stuff about exactly what car you want before you even go to a dealership. know what people want YOU to pay and what people ARE ACTUALLY PAYING. big difference.