Hi guys, I've been eying various cars for a while now, and a used 6MT 1G TSX seems to be my pick. The 2G is pretty good, a little big and less responsive and some cheap materials, but the engine ping is a killer for me. I also liked the 1-series, but it's pretty pricey, and I have questions about its reliability and ownership expense.

Ok so that aside, I'm going to take a look at an 07 TSX w/ 6MT and nav tomorrow at a dealership. It was bought at auction by the dealer, it's 1 owner, no bad history, and it's CPO. Mileage is ~16.5k. The dealer is asking a little shy of 26k. To me that seems high, but the Edmunds TMV surprised me... 19.7 trade, 22 private, 23.6 dealer, 25.5 CPO and that's at 4/5 quality. At best quality, it's 20.5, 22.9, 24.6, 26.4! Blue book is something around 21-23.

So what is a realistic price for that vehicle? Would a price in the 20-21 range be unreasonable? Thanks!

 

26 is way too high. You should be able to get in that car for 22 after TT&L easily. CPO is no different than a non-CPO dealer car, so I don't even know why Edmunds would list different prices for those two. All they do to CPO it is look at it and make sure there's nothing mechanically wrong with it. It's 20 minutes of a tech's time for 3 grand. Besides, it's a Honda. It's going to last more than 100,000 so chances are the CPO won't do you any good.

 

It definitely is overpriced. You can get an 09 for that price so a used (evnthough it's CPO) 07 should be a lot less. I'd say for all that about 21-22K OTD would be a good price. 23ish is a CPO for an 08 right now in my area so it may depend on your area. Look at comps in your area and what they are selling for.

As for CPO, it's the dealer guaranteeing the car as being as good as brand new opposed to being simply used. If you buy a car as used from some dealers it's considered As-Is and being CPO means they will back it so if something goes wrong it's like your mileage was at 0 miles opposed to whatever it was. It really is overpriced for charging the 3K amount on top but that is how it is defended. I agree though, being a newer Honda that doesn't have many reported issues you could be fine without. However, since it's CPO they won't lower the price anymore for you since it's been done.

Definitely talk them into lowering the price, if not then look elsewhere. You can easily find a car for a lot less than that comparably speaking. Granted TSX's aren't easy to find but it should not be overpriced like that by the stealership.

 

Yes that is REALLY high for a CPO at 16k miles. I bought my 07 MT TSX w/ nav brand new for 28k, so you know that price is well overpriced.

 

So I went in there today willing to lay down 21-22 OTD for the car, and based on my experience, I may just not want to deal with that stealership in the future. Their sticker of 26k is completely outrageous. They told me KBB and wholesale prices are high (like 23.8) and they came down to like 24.8 + fees. I started low and moved up to 21.5 including all fees. They wouldn't budge below that 24.8 + fees price and told me I wasn't even in the ballpark. Ridiculous. So I walked out.

Afterward, I wanted to show my brother (who was with me) the 1-series, so we drove down the street to the BMW dealer, which is in the same dealer company. I dealt with a nice guy there who I've experienced before, and he said he knows the car I was looking at and that they own it for 23k (auction + certification, cleaning, etc). That's hard to believe, but this guy seems pretty chill and trustworthy. He said dealerships are largely focusing on and thus fighting for used cars now because consumers want to save money. So he said they'll have bidding wars on cars at auction and they're more expensive and harder to get now. There's no way in hell I'll pay close to 25 + fees for a freaking 2 year old TSX with 16k miles on it. What a joke.

 

You were lied to. That car wouldn't go for 20K at an auction, and if it made it that high, it wouldn't be going to a dealer.

 

Wow, that is redonkulous. I paid 24.8 OTD for my CPO 08 back in Oct. At least now you learned not to go there again.