So I found a 2003 Accord EX, V6, 6MT on AutoTrader. It has exactly 45,696 miles, and the dealership wants $11,889 for the car. (I was wrong about the mileage and price in the other post.) The car sits on a Ford dealership, so I am assuming somebody traded the Accord for a Ford, and the dealer probably wants to get rid of the car so they can get it out of their inventory.

I did some research and found out on the NADA Guides website (Almost all banks in my area use NADA Guides as their reference.) that the clean trade in value is $11,075 (base price) + $1,725 (45,696 miles) = $12,350 (total price). Assuming the car were in perfect condition, the clean retail value would be $13,250 (base price) + $1,725 (45,696 miles) = $14,525 (total price).

A friend of mine strongly encourages me to try to talk down the salesperson to $10,000. Since this is my first time buying a car from a dealership, I'm not sure how to talk down a salesperson at a dealership. I've done some research, but I'm not sure if that will help me any. I know for a fact that the dealer has already marked down the price below book value, so it's going to be very hard for me to talk them down any further. I could talk them into throwing the tax and title fees for free (subtracting the fees from the price of the car). I'm not too sure, but I really want the car, and I am willing to take out a loan and repay it back for this car. It's the only 7th generation V6 manual coupe in this area for sale that I know of.

Anyway, do you think I should buy this car? Any pointers on how to talk down salesperson, and do you think I have a chance of talking them down any more than the price the car is? All help will be appreciated.

 

Dealers always have room to go down, especially say a ford dealership that is close to going bankrupt. You must find some flaws with the car, and use those as your leverage to get the price down, any dents dings etc etc. The key is you must always be willing to walk away, and dont act like you have to have this car.

If I were you, I would go there, look at a few cars like it(any focus or cars like that), Ask the salesmen some questions about those, then carefully switch it over to the Accord, but only act half interested.

After all the shenanigans are done say you can do 10,000(or maybe even a little lower) and if they say no, say thanks for your time, heres my number if you change your mind. Wait a few days and see if they call you, they normally do.

However for that cash I would buy a S2k.

 

Good advice. Apparently someone traded their Honda in for a Ford. Bad mistake I think. I have to say that I really want to buy this car, and I know someone who would seriously consider buying my Accord for $2,000-$2,500 since he totaled his car. Shoot, I think the hardest thing for me to do in this situation is get a loan. If you were in my shoes and nobody would cosign a loan for you, would you get dealer financing? Besides walking away, getting dealer financing would be my last resort.

 

I'd just get a co-signer.

 

if not get the dealer loan, then go to a locally owned credit and
A) open an account and refinaice
B) or just get the loan from them first.
i did A i went fro 8.3 % intertest to 4.3 in a week.

 

Nobody I know will co-sign for me, and I called the dealership and they have had a few hits on the car. I am going to test drive it this Thursday, so chances are I am going to do what status did and get a dealer loan and then go to my credit and refinance. Sound good?

 

yeah just becarefull dont even sign if there percentage for intersts isnt too high,you just dont wanna get stuck. also they "say" they've had a few hits on the car. IMPORTANT stay strong, they need to sell you that car more than you need it, start them low, KNOW YOUR LIMIT, dont be afraid to bail and you can always find a car like that else where.