my dads friend just bought brand new accord lx for $28k OTD I know I know.... he traded his old car which dealership gave him $8k and he still owes them $3k because he wanted to put $11k down :shakehead

He still hasn't signed the loan paperwork but they did let him drive the car last night. What are his choices now?


kthnxbye

 

Return that bastard with a quickness!

 

If he hasn't signed the purchase and sales agreement, he can back out, but it sounds like he did that already...

You usually sign a Purchase aggreement, and then talk to the loan people...

He can always ask to back out if he hasn't taken delivery of the vehicle, but I believe the purchase aggreement is a legally binding contract... Maybe JaredGMS or AD will comment. Asking can't hurt, but he might already be locked into an agreement.

Oh, and the numbers don't jive... 8 (for trade in) + 11 (down) is 19K... he'll own them another 9K (not 3) if the OTD price is 28K...

Sounds like he's paying MSRP on it...

 

Good Lord, he did get ripped! Tell him not to sign the paperwork yet! For real, I'm not really sure what he should do except try to get out of it if he can. Has he signed anything at all? I could see 28K for an EX fully loaded, but not an LX I don't think...

 

no he's paying $11k total down payment.... 8k from the car he traded in and another 3 which he still owes.

 

its 4 cyclinder guys

 

Hmmm... the LX V-6 Styles = MSRP: $25,100 invoice is around 22.6 or so...

Ok, I IM'd Jatt, and it's a 4cl... $20,825 MSRP, invoice price of $18,749...

For the life of me, I can't understand how the guy is paying 5 plus grand more then MSRP... I'm figuring and extra 3K for TTL (title, taxes, dest fee, etc etc) unless he owed 13K on his trade and they only gave him 8K for it (13-8=5)...

My sister was upside down on her car (owned more then it was worth), but even then, she still managed to talk the dealer down from MSRP (on an 06 civic sedan).

Which reminds me, I have to call her to see if she picked it you this week...

 

I got sale contract

- Cash price vehicle: 23450
- Sales tax: 1873
- Extended Warranty: 2495 :eek;
- Gap Ins.: 572 :shakehead


ok now he says he'll be happy if they can take out the extended warranty and gap ins... so you guys think they can take that off even he signed sales contract?

 

Oh, so he's gonna give them the car and 3K cash (11K) and finance the other 17K...

 

Ok, the extended warrenty is what did it...

That's usually something you work out with the finance people... He should be able to get rid of that...

But it still sounds like he paid over MSRP:

http://www.edmunds.com/new/2006/honda/accord/index.html

 

msrp for lx is $20,025
and his car is LX SE and its msrp is $20,725

so he still got ripped off there....

 

he's going back and will try to get rid of the extended warranty and gap ins.

 

I thought you 's and 's were good w/ your money... Your dad's friend must be white, black or mezican...

Or is it just the Patels that are good w/ money ??

 

haha... he's Indian :shakehead

 

whats teh gap-in??

 

so did he drive the car off the lot yet?? or finalize all the papers?

 

I would never buy a new car w/ gap insurance. Our nanny was involved in a car accident 5 days after we bought a new Sienna and it was totaled. Ins wanted to give us something like 5k less than what we originally paid, gap picked up the rest. It was well worth the 500.

 

I agree, gap insurance is totally worth it espeically at the rate I got from my credit union. $5 a month for a 60 month loan = $300.

Can't beat that.

 

he drove it off last night

oh well he's going to suck up the overpaid price but I do hope they take off the extended warranty and gap insurance.

 

gap insurance

 

yeah but you can always get that from your own insurance company.

 

He should be able to negotiate the price of the warranty down to below $1,000. After all it is a Civic LX. I paid something like $1,300 for a 7 year 100k mile warranty on the CL-S.

 

This is true. But in my case it was cheaper through the credit union.

 

Yeah I told him to negotiate between 500-1000

 

That was a pulp fiction style bat raping

 

wtf my dad got his 05 accord lx 4 banger for $18,xxx 10k less than ur dad's friend haha

 

Why do our parents always pull this shit? Buy the car THEN ask if they got a good deal.

Idiots.

My mom did that with a laptop from Bestbuy

 

if they dont take it back, just tell him to drive it into the showroom floor, set it alight..... Seems to be the in thing these days when dealers rip you off..

 

I thought every Indian knew how to get a good deal?

 

wasnt sure since you said he didnt sign the paperwork

 

well he said he signed the sale contract (which I saw) and didn't sign the loan paperwork.

Update: Dealership agreed to take off the extended warranty and gap insurance.

 

umm, what bat raping?

 

Patels > *


Even my dad knows how to haggle cars.

Jatts know sheeeeeeet!

 

he should drive the car into the dealership and light it on fire. :shakehead

 

28K for an accord after an 8K trade in? hahahaha

 

Well, I got a brand new TSX for 24K, and I'm a Jatt.

 

Just to counter your statement, I got my TL at 100 over invoice, so to you.

Jatt, your dad's friend is an idiot and got what he deserved. At least they were able to take off the Gap and Warranty

 

See you guys arent that smart!

 

(unless it was a leftover model).

Invoice plus destination is $26K (non-navi, 6spd)... So unless you got 2K less than what your trade in was really worth, I'm calling BS...

I've learned that people will throw out the price they paid, but don't give the whole story... If a trade in is involved, they usually leave that important part out...

Example.. My brother traded in his 2003 Tacoma for an 05... He wanted to spend 10k (at most) out of pocket to get it. He got the dealer down to 22K on the new truck (this was when the new style had just come out) and they wanted to give him 12K for his 03... Cost to upgrade. 10K... When it came time to do the paperwork, they asked if they could write up the sale of the new truck for 24K and the trade as 14K... Still cost only 10K to upgrade, but this example illustrates how the numbers can be fudged... I think they wrote it up this way to skew the "what others are paying" that you see on edmunds, etc..

I got my CLS down to about $500 over invoice (no trade in involved), but when I was shopping, I did get an leftover 2002 Accord EX V6 down to 1700 under invoice w/o much trying...

 

why take out the gap insurance?