QuestionHi Ron,
Any advice would be greatly appreciated.
1. Is the price online subject to negotiation? I have salespeople telling me, the price is negotiable but only very little, like a few hundred dollars. Is that true?
2. I am willing to purchase a 2002 Honda Accord SE Coupe with 53K for around 13,500. Is this a wise decision?
Thanks so much for your assistance
Mike
AnswerGood Morning, Mike,
Unless your buying a high-end limited edition Porsche or other type of vehicle, car prices are always negotiable, online or on the lot. But there is variation between different dealers. For example some dealer internet shops will offer you a price over the phone, which would typically be under the MSRP or what the dealership would come down to if you bought by walking on the lot and doing the deal. Other dealerships will avoid the price question and just try to get you in so they can get a regular salesperson to work on you. This is more like the way the dealership that I worked at did business. And of course there are variations in between.
Since it depends on the specific way a dealer wants to work, I can't give you specifics on how to deal with them. But, here's what I can tell you:
- Get an internet price for what you're interested in.
- Go online to an auto website and research the going price for that same vehicle. I've listed a number of sites for you to work from on one of my sites, www.SaveOnYourNextCar.com.
- Compare what the dealership is offering you with the more accurate market values you find on the sites. This will give you a very good idea of what your paying, and if it's a good deal to you, or not.
Now, as to if the 2002 Honda Accord SE Couple for $13,500 is a good deal. Mike, ultimately you have to decide if any purchase is a good deal to you, or not. It depends on a number of factors such as how much you really want something (this car for example), and how much you're willing to pay for it. But, financially speaking here's what I found online. Keep in mind that I had to make some assumptions since you didn't list the specific engine size, options, and condition of the vehicle.
2002 Honda Accord SE Coupe, with a 4-Cyl. 2.3L VTEC engine, automatic, with 53,000 miles shows a price of $14,925; this would be in excellent condition, so make sure you adjust for current wear and tear. I would highly suggest you get a certified mechanic to look the vehicle over before making a purchasing decision. I get very suspicious when I see a vehicle listed below (presumed) market value, and start to ask why they're doing this. Dealers do their best to make the best deal possible--this is the best deal for them, not for you.
I would like to refer you to my book, "$ave Thousand$ Buying Your Next Car: Confessions of a Former Car Salesman" (www.Make-Me-Smarter.com) that will answer all of your buying questions.
Hope this helps you, Mike.
Happy Holidays!
Ron
