Price issue: What would you do?

[Tags]

So I've been looking at a 2019 Si sedan -- one of those that slipped through with the summer tires (which I like). A couple of days ago I was told it got sold; then a few days later, that the car was "back" -- the owner couldn't get financing.

Now, I'm astounded that they let the guy take it off the lot without financing in place. How on earth does that happen? But anyway the car is back, with 400 miles that the would-be owner managed to put on it in a couple of days.

That's a lot of miles in a short time, and it's a red flag to think how the guy would treat the car when he knew he had to bring it back. But that aside, how much of a price adjustment would you expect to get on it? Right now the dealer is acting like, "It's all good. Still a new car. Nothing to see here." But... no.

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[charleswrivers]

Probably a thousand dollars. I'd be expecting to pay well under invoice for it. I got mine brand new for less than invoice as it is.

I'd consider it more like a CPO than new since it should have been titled. As such, CPOs should have more warranty while costing less than a new car.

 

[Davsonamission]

This actually happened to my buddy... He bought it on the weekend... They claimed the loan office was not open on the weekend. What happened they promised him a certain APR percentage loan well the next week called him and claimed they couldn't get the rate they promised. So basically he took it back to the stealership. It's a scam called yo yo they make a promise they cannot keep and call you back to get you bring the car back in so you pay a higher interest rate. He didn't... he just dropped the car back off and gave them the middle finger.

 

[apexit53]

The Si isnt a rare car, honestly if they dont give you a decent amount off because its technically used, just get one elsewhere. 400 miles i dont think they can sell it as new.

 

[charleswrivers]

Just go to a site like trucar.

Compare a new car vs a used car... same model year with 400 miles. I bet the latter is cheaper by quite a bit. That's where the selling point of CPOs come into play, because they have additional warranty. Price or price+warranty should an incentive to buy that car. "It's still new" is a flat lie. It's a used car.

 

[COOL COUPE]

I am calling this out ... it's a used car ... You would be the second owner not the first ... the dealership is doing something that skirt's legality ... but ... only in my opinion. I would call Honda USA and ask ... demand answers!

 

[SleepyFC1]

By definition, it isn't a used car. It was never titled and you're still the first owner.

I wouldn't expect them to budge much. Maaaaybe $1 per mile.

 

[amirza786]

So I've been looking at a 2019 Si sedan -- one of those that slipped through with the summer tires (which I like). A couple of days ago I was told it got sold; then a few days later, that the car was "back" -- the owner couldn't get financing.

Now, I'm astounded that they let the guy take it off the lot without financing in place. How on earth does that happen? But anyway the car is back, with 400 miles that the would-be owner managed to put on it in a couple of days.

That's a lot of miles in a short time, and it's a red flag to think how someone who can't get a loan for a $24,000 car would treat that car, especially when he knew he had to bring it back. But that aside, how much of a price adjustment would you expect to get on it? Right now the dealer is acting like, "It's all good. Still a new car. Nothing to see here." But... no.

It is possible that they were initially approved, and later that the loan company discovered a discrepancy, such as stated salary not being accurate. When I bought my car, I was approved right away due to excellent credit, but when I put down my pay, I accidentally left out a number, so I almost didn't get the loan. The finance manager kept asking me if I had additional income, I was astounded because my income was more than adequate. Once we realized the issue, I corrected my salary and the loan went thru immediately. Although I drove off with the car, they still contacted our HR department to verify my income.

On the other issue, since they drove the car off the lot and put 400 miles on it, it is not NEW. I have no problem with a Honda with 400 miles on it, but they would need to cut at least $1000 to $2000 off the price, and I always negotiate on invoice, not MSRP. I would walk away if they are not willing

 

[MattyNice]

Since the car was never titled, it’s still legally considered new. I don’t think it was a scam but a low credit score individual they thought they could get bought and then couldn’t. Dealers put these high risk people in the vehicle all the time to keep them from going elsewhere when they feel they have a good chance of getting the loan bought.

Anyway, 400 miles is a lot and especially ones driven by a low credit score individual. I’d wait and get one that only has a couple miles on it. You’ll be making payments for a while and it be worth the wait if needed to feel good about what your hard earned money is paying for...imo

But, I think average sale price for these is around 23k. If you could get for say 21-21500, it be a serious consideration.

 

[charleswrivers]

But, I think average sale price for these is around 23k. If you could get for say 21-21500, it be a serious consideration.

X2. The person would have filled out all the title paperwork. The dealer didn't submit it because the loan didn't go through. It's new only on a technicality. I'd be all over it at 21k and still somewhat interested under 22k. Over 22k... no. I'd you're not planning on modding and an extended warranty, like a Hondacare and not something just through that one specific dealer (you never know if you might move or they could close) then 22k + a 8 year, 120k mile with no deductable would also be decent. Again, to me they should CPO sell it... but if it wasn't titled, they may be trying to play it off as new. Some guy got it and put over a full tank of gas worth of miles on it. Whether the title would get sold to you as 'new' or not... it just isn't a new car anymore.

 

[PhilF]

If you want a "NEW" car, this isn't one, a lot can happen in 400 miles, and, you'll always wonder how the car was treated by someone who else. I'd tell the dealer that if they want your business, they'll get you another car, just like the one you want and cut you a decent deal, if not, there's other dealers. 4 miles is new, 400 is used. If you are questioning this now, you'll always have doubts. JMHO

 

[Tags]

I had been negotiating off a True Car price not much over invoice, so I suspect that the dealer is hoping to find someone they can bring in to negotiate off MSRP, and tell them what a deal they're getting at $23,900 or whatever.

The issue of not knowing how someone else broke in the car, AND wondering what kind of joyride he went on when he learned he couldn't keep it, is definitely on my mind. I doubt they'll bring the price down far enough for me to consider.

 

[jgreen16]

I'd just pass on the car, summer tires or not. Get another '19 Si sedan. Just my $ 0.02.

And for the people marking the snarky comments on low credit score individuals, that's just plain rude in my opinion. You have no idea what put them in that situation, and it doesn't automatically make them a bad person, or mean that they behave in some type of poor fashion behind the wheel or otherwise.

 

[BoostedSiCoupe]

slimy ass fucking no good stealership assholes just trying to pull some shady shit like they always do.

i wouldnt buy that shit. you dont knkw how it was treated during the period the person was driving it. pass on that dude.

 

[Dan9908]

It was a scam.... pulled on the original buyer. It’s called a drop-delivery, they allow you to take the car for a weekend and then tell you that the financing is f’d up or you must put an additional $X,000 down to keep the car.

Buyer probably happily handed the car back.

Point of reference, a few weeks ago, I paid $22,300 for a new 18 Si sedan with all weather floor mats, wheel locks and a trunk liner. It had 4 miles on it.

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