How to Negotiate Buying a Honda Accord
Many Honda dealerships employ an Internet sales department, which you can use to your advantage to negotiate pricing. Internet sales people can negotiate through email or by phone call.
Once you have a quote from one dealer, you can use it to shop other Honda dealers in your area and ultimately have the dealers bid for your business.
You can negotiate at the dealership if you prefer, but contacting the Internet sales department is likely to warrant you a low price without dealer hassle.
1. Find out your Accord’s invoice price by going to Edmunds.com to access its TMV (True Market Value) tool, or the AutoMall USA website. Invoice pricing is dealer cost for a new car. For either website, click on “Honda” to view its various vehicles, and choose the Accord model you want to pursue.
2. Choose the correct level Accord from the lineup. Edmunds.com allows you to choose the correct engine and transmission pair, colors and options you want to ensure that you’re researching a properly equipped and priced vehicle. For the AutoMall USA website, you can view the invoice pricing based on a base, or entry-level, model.
3. Click on the “Get True Market Value Pricing” option from Edmunds.com and view the invoice pricing that includes the Accord’s destination fee, listed next to “Total Price.” The AutoMall USA website also lists the destination fee seperately, but the destination fee is not optional or negotiable.
4. Add the price of extra options or features for the Accord you chose, if you are using the AutoMall USA website. Access Honda’s website to find the prices of Accord options and add it to the invoice price you received. You can also call a Honda dealer to find out the pricing of extra features or options.
5. Come up with a fair price to offer a Honda dealer. You can offer invoice pricing if you prefer, but consider a fair purchase price of $600 to $1,000 over the invoice amount. This is the amount a dealer can expect to profit on a new car.
6. Go to Honda’s website and click on “Find a Dealer.” Enter your zip code and click “continue.” Several Honda dealerships are likely close to your area, so decide how far you’d drive to get the best price.
7. Go to one of the Honda dealer websites by clicking on the name of the highlighted dealer. Click on “Contact us” from the dealership’s website to initiate negotiations. Fill out the contact form and state that you want to purchase a Honda Accord.
8. List the options and colors you want and state that you are ready to buy within a week. State your desired price and ask the dealer to email you if the price it accepts your price.
9. Wait for the dealer to email you back. If the dealer calls instead, discuss pricing and ask the dealer to email you its price offer so you can review it later. Once you have your price offer, use it to shop other Honda dealers.
10. Go back to Honda’s website to contact other local dealers. State again that you are ready to buy immediately but have been working with a dealer who has offered you a purchase price worth consideration. Ask the dealer if it can beat the price to earn your business.
11. Contact each dealer in your area until you have a price you are happy with. Most Honda dealers in an area are in competition with one another to win regional contests or high sales rank. Even if you intend to work with a local dealership, having a valid price offer from another dealer is likely to warrant you the same price offer you received or lower.
Tips & Warnings
You may want to wait until the last week of the month to pursue this negotiation method. Because of goals and bonuses, your Honda dealer is more likely to sell an Accord for less profit.
Look on Honda’s website to view current Accord rebates. Rebates are automatic price discounts offered by Honda, not an individual Honda dealership. The Honda dealer is reimbursed for the rebate. Rebates should be discounted after your negotiated purchase price.