I walked away from this deal......

[philharmonik]

Lets say I go in with 2k for money down. If I can get the price of the car down to an acceptable amount and the trade in amount up as well, I should be able to break even correct?

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[Shankmeyster]

You were over $1k upside down. My suggestion when/if you get a new car. Pay it off or at least get it down under what trade value is before you get rid of it next time. Otherwise you are just going to dig yourself deeper and deeper. Had a guy a long time ago that was trying to get out of a 300k mile Silverado that he was $40k upside down in. Don't be that guy.

 

[jgreen16]

Today only. I'm all in.

How cliche. Good thing you walked on that deal.

 

[jdogcarroll]

I am in the same boat... Exactly I might add.. although I am still looking for an Si coupe. The dealer wants to sell me this car so bad.. although I got them at $450 @72mo with -3500 equity... I walked away only because I want to close the equity gap some more but with the 18's coming IDK if I should wait or not. Plus they are starting to sell CTR at MSRP and not 20k markup..

 

[Doc_C]

You were over $1k upside down. My suggestion when/if you get a new car. Pay it off or at least get it down under what trade value is before you get rid of it next time. Otherwise you are just going to dig yourself deeper and deeper. Had a guy a long time ago that was trying to get out of a 300k mile Silverado that he was $40k upside down in. Don't be that guy.

Ayye... you know my old roommate lol. He was the guy who had a loan going for double the price of the car. Finally settled with a 2015 WRX @ 700/m. Had it for 4 months and it got stolen.... Gap insurance came through big

 

[jakabony]

Lets say I go in with 2k for money down. If I can get the price of the car down to an acceptable amount and the trade in amount up as well, I should be able to break even correct?

No matter what you get the Si for, you will have negative equity unless they give you more for their trade. Most dealers will give you more for your trade but bake it into the sale of the new car. That's why it's best to negotiate them separately. But usually you just have to pay down your loan more, or put more money down, if you want to be at a specific monthly payment. It's pretty simple math. Some dealers try to make it look like they are aligning the planets, but they just do it to try to confuse people.

 

[AK_FORTY_KEVIN]

Ayye... you know my old roommate lol. He was the guy who had a loan going for double the price of the car. Finally settled with a 2015 WRX @ 700/m. Had it for 4 months and it got stolen.... Gap insurance came through big

How convenient .

But good thing you walked out, that's not a good price. You're pretty much paying MRSP for a car that isn't that hard to find elsewhere. Never pay MRSP.... I found that out with the first new car I brought on my own, smh.

 

[Doc_C]

How convenient .

I would've been suspicious except he was a well respected EMT that ran a house... oh and I was with him when we found the car. In a harbor freight parking lot. Called the cops, but he was too impatient and confronted the guy. Told the guy "Hey man, nice car". The guy turned ghostly white instantly and bolted. We looked at the car before that happened and it was full of clothes and other shit. Like somebody was living in it. Got a call a year later that they found it in Oklahoma.

 

[AK_FORTY_KEVIN]

Lol has to be one of the best stories I've heard all week. I'm surprised they found it. I just always assumed it was just gone from there.

 

[philharmonik]

Really appreciate all the input from everyone! Its been very helpful. It felt good walking out of there, but man were they pushy!

Does anyone know about the holdback percentages of Honda. I looked it up and it states 3% for Honda.
https://www.autocheatsheet.com/new-car/dealer-holdback.html

If i did the math correctly, TrueCar has the invoice for the Civic Si at 23,299, minus the holdback amount, the dealer ends up paying 22,600. I added the destination charges of 875 and now have a target price of 23,475.

I only started reading up on this last night to be better prepared next time I go into a dealership.

 

[Shankmeyster]

I would've been suspicious except he was a well respected EMT that ran a house... oh and I was with him when we found the car. In a harbor freight parking lot. Called the cops, but he was too impatient and confronted the guy. Told the guy "Hey man, nice car". The guy turned ghostly white instantly and bolted. We looked at the car before that happened and it was full of clothes and other shit. Like somebody was living in it. Got a call a year later that they found it in Oklahoma.

I think I might have shot the guy then planted a weapon on him to claim self defense. Fuck thieves.

 

[ClemsonPatriot]

Really appreciate all the input from everyone! Its been very helpful. It felt good walking out of there, but man were they pushy!

Does anyone know about the holdback percentages of Honda. I looked it up and it states 3% for Honda.
https://www.autocheatsheet.com/new-car/dealer-holdback.html

If i did the math correctly, TrueCar has the invoice for the Civic Si at 23,299, minus the holdback amount, the dealer ends up paying 22,600. I added the destination charges of 875 and now have a target price of 23,475.

I only started reading up on this last night to be better prepared next time I go into a dealership.

I paid a few hundred over the factory in voice for mine. After tax, title, tag, etc. my all in loan from my bank was around $24,500.

I will NEVER pay MSRP for a car. It is a "suggestion" for a reason.

 

[philharmonik]

Today only. I'm all in.

How cliche. Good thing you walked on that deal.

Yeah, I thought that was pretty funny myself.

This is the same dealership thats adding 10k ADM to Type R's.

 

[Stealthy86]

Did you have any negative equity on your trade?

I did, they gave me more for my trade than it was worth. The only thing that matters is the out the door price, though. Money here, money there. doesn't make a difference.

It also had a rear bumper that needed completely repainted and I broke the front bumper a week ago by not clearing a curb (Deep grooves in asphalt from heavy vehicles, covered by leaves). Needed 2 new front tires as well.

I took it and ran, lol.

 

[philharmonik]

I did, they gave me more for my trade than it was worth. The only thing that matters is the out the door price, though. Money here, money there. doesn't make a difference.

It also had a rear bumper that needed completely repainted and I broke the front bumper a week ago by not clearing a curb (Deep grooves in asphalt from heavy vehicles, covered by leaves). Needed 2 new front tires as well.

I took it and ran, lol.

Nice! Congrats! I think I'm going to hold out a little longer, wait and see if I can get one at or below invoice.

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